ADVISORY/Superior Signs Definitive Agreement to Acquire Assets of Power Offshore Service, LLC and Reeled Tubing, LLC; Company to Offer $200 Million of Senior Notes.Business Editors, Energy Writers ADVISORY...for WEDNESDAY NOTE TO EDITORS: Multimedia Assets Available With This Story Include Logos, Photos, Text News Releases --(BUSINESS WIRE) Superior Energy Services Superior Energy Services is an oil and gas company based in Harvey, Louisiana, USA with many other locations around the world. , Inc. (Nasdaq:SESI SESI Servico Social da Industria (Brazil) SESI Shipboard Explosive Safety Inspection ) today announced it has signed a definitive agreement to acquire the assets of Power Offshore Service, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and Reeled Tubing, LLC, which include eight liftboats, 21 coiled tubing Coiled tubing refers to metal piping, normally 1" to 2" in diameter, used for interventions in oil and gas wells, which comes spooled on a large drum. The main benefits over wireline are the ability to pump chemicals through the coil and the ability to push it into hole rather than units and related equipment. In addition, Superior intends to offer $200 million of new Senior Notes due 2011 through a private placement under Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of the Securities Act of 1933, as amended. You can reach the story directly by going to http://www.newstream.com/cgi-bin/display_story.cgi?2698 This multimedia news story is for free and unrestricted use on your news information site (and for print or broadcast too). Visit http://www.newstream.com to download video, audio, text, graphics, and photos. If you have any questions about the story, or about Newstream.com, please write to us at info@newstream.com. |
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