UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 18, 2000
SUPERIOR ENERGY SERVICES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 0-20310 75-2379388
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1105 Peters Road, Harvey, Louisiana 70058
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(504) 362-4321
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
Item 2: Acquisition or Disposition of Assets
Pursuant to a Stock Purchase Agreement dated as of October 18, 2000, by and
among Superior Energy Services, Inc. ("Superior") and Jack Hardy, Mark
Hardy, Dave Hardy, Alan P. Bernard, Chris Baker, International Consulting
Corporation Ltd., Clamic Services Ltd. and Claude Fleary (collectively, the
"Sellers"), Superior acquired all of the issued and outstanding shares,
share capital, capital stock and options to acquire capital stock of
International Snubbing Services, Inc., a Louisiana corporation and its
affiliated companies (collectively, the "ISS Companies"). The purchase
price for the acquisition of the ISS Companies was paid by Superior in
cash. In addition, Superior may be required to make additional payments
dependent upon the ISS Companies meeting specified levels of profitability
in the future.
Superior is not aware of any material relationships between itself, its
affiliates, directors or officers or any associates of its directors or
officers with Messrs. Jack Hardy, Mark Hardy, Dave Hardy, Alan P. Bernard,
Chris Baker, International Consulting Corporation Ltd., Clamic Services
Ltd. or Claude Fleary.
The ISS Companies are international providers of well services, including
hydraulic workover drilling and well control services. The ISS Companies
have a fleet of 11 hydraulic workover and drilling units, and also
manufacture and market their own hydraulic units and related equipment for
their drilling and well service operations. The ISS Companies are
currently operating offshore Australia, Europe, Trinidad, Venezuela and the
United States, and has working agreements to operate in the North Sea and
Brunei.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired
It is impracticable to provide the financial statements for the ISS
Companies required by this item at the time this Current Report on Form 8-K
is filed. The required financial statements will be filed as soon as
practicable, but not later than 60 days after the date this Current Report
on Form 8-K must be filed.
(b) Pro Forma Financial Information.
It is impracticable to provide the pro forma financial information for
the ISS Companies required by this item at the time this Current Report on
Form 8-K is filed. The required pro forma financial information will be
filed as soon as practicable, but not later than 60 days after the date
this Current Report on Form 8-K must be filed.
(c) Exhibits.
99.1. Press Release of Superior Energy Services, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SUPERIOR ENERGY SERVICES, INC.
By: /S/ ROBERT S. TAYLOR
---------------------------
Robert S. Taylor
Chief Financial Officer
and duly authorized officer
Dated: October 19, 2000
1105 Peters Road
Harvey, Louisiana 70058
(504) 362-4321
Fax (504) 362-1818
NASDAQ:SESI
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
Robert Taylor, Chief Financial Officer,
504-362-4321
Greg Rosenstein, Director of Investor Relations,
504-362-4321
SUPERIOR ENERGY SERVICES COMPLETES ACQUISITION
OF INTERNATIONAL SNUBBING SERVICES
(Harvey, LA, Thursday, October 19, 2000) Superior Energy Services, Inc.
(NASDAQ: SESI) today announced the completion of its previously announced
acquisition of International Snubbing Services, Inc. (ISS) and its
affiliated companies.
ISS is an international provider of well services, including hydraulic
workover, drilling and well control services. ISS has a fleet of 11
hydraulic workover and drilling units and also manufactures and markets its
own hydraulic units and related equipment for its drilling and well service
operations. Headquartered in Arnaudville, La., ISS is currently operating
offshore Australia, Europe, Trinidad, Venezuela and the United States, and
has working agreements to operate in the North Sea and Brunei.
"ISS is an innovative company that has successfully expanded
internationally as a result of leading edge equipment, experienced
personnel and strong customer relationships," said Terry Hall, President
and CEO of Superior Energy Services. "The company's workover and drilling
units can operate on a stand-alone basis or can be bundled with Superior's
other well services to give energy producers worldwide efficient
alternatives for their workover, drilling, and well remediation needs."
Superior Energy Services, Inc. provides a broad range of specialized
oilfield services and equipment primarily to major and independent oil and
gas companies engaged in the exploration, production and development of oil
and natural gas properties offshore in the Gulf of Mexico and throughout
the Gulf Coast region. These services and equipment include the rental of
liftboats, rental of specialized oilfield equipment, electric and
mechanical wireline services, well plug and abandonment services, coiled
tubing services and engineering services. Additional services provided
include contract operating and supplemental labor, offshore construction
and maintenance services, offshore and dockside environmental cleaning
services, the manufacture and sale of drilling instrumentation and the
manufacture and sale of oil spill containment equipment.
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 which
involve known and unknown risks, uncertainties and other factors. Among
the factors that could cause actual results to differ materially are:
volatility of the oil and gas industry, including the level of exploration,
production and development activity; risks associated with the Company's
rapid growth; changes in competitive factors and other material factors
that are described from time to time in the Company's filings with the
Securities and Exchange Commission. Actual events, circumstances, effects
and results may be materially different from the results, performance or
achievements expressed or implied by the forward-looking statements.
Consequently, the forward-looking statements contained herein should not be
regarded as representations by Superior or any other person that the
projected outcomes can or will be achieved.
# # #