Superior Energy Services Replaces Expiring $350 Million Share Repurchase Program
17 December 2009 - 8:05AM
PR Newswire (US)
NEW ORLEANS, Dec. 16 /PRNewswire-FirstCall/ -- Superior Energy
Services, Inc. (NYSE:SPN) announced today that its Board of
Directors has authorized a share repurchase program of the
company's common stock to replace the existing program which
expires on December 31, 2009. The program will have an authorized
limit of up to $350 million and will expire on December 31, 2011.
"The parameters and objective of this program are the same as the
expiring program, and that is to repurchase shares
opportunistically when conditions warrant over the next two years,"
said Terence E. Hall, chairman and chief executive officer.
Superior Energy Services, Inc. serves the drilling and production
needs of oil and gas companies worldwide through its brand name
rental tools and its integrated well intervention services and
tools, supported by an engineering staff who plan and design
solutions for customers. Offshore projects are delivered by the
Company's fleet of modern marine assets. FOR FURTHER INFORMATION
CONTACT: Terence Hall, CEO; Robert Taylor, CFO; Greg Rosenstein, VP
of Investor Relations, (504) 587-7374 DATASOURCE: Superior Energy
Services, Inc. CONTACT: Terence Hall, CEO, or Robert Taylor, CFO,
or Greg Rosenstein, VP of Investor Relations, all of Superior
Energy Services, Inc., +1-504-587-7374 Web Site:
http://www.superiorenergy.com/
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