Attached files
file | filename |
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8-K - FORM 8-K - SUPERIOR ENERGY SERVICES INC | h72659e8vk.htm |
EX-10.4 - EX-10.4 - SUPERIOR ENERGY SERVICES INC | h72659exv10w4.htm |
EX-10.3 - EX-10.3 - SUPERIOR ENERGY SERVICES INC | h72659exv10w3.htm |
EX-10.1 - EX-10.1 - SUPERIOR ENERGY SERVICES INC | h72659exv10w1.htm |
EX-10.5 - EX-10.5 - SUPERIOR ENERGY SERVICES INC | h72659exv10w5.htm |
EX-10.2 - EX-10.2 - SUPERIOR ENERGY SERVICES INC | h72659exv10w2.htm |
Exhibit 99.1
601 Poydras St., Suite 2400 New Orleans, LA 70130 NYSE: SPN (504) 587-7374 Fax: (504) 362-1818 |
FOR FURTHER INFORMATION CONTACT:
Terence Hall, CEO; Robert Taylor, CFO;
Greg Rosenstein, VP of Investor Relations, (504) 587-7374
Terence Hall, CEO; Robert Taylor, CFO;
Greg Rosenstein, VP of Investor Relations, (504) 587-7374
Superior Energy Services, Inc. Names New CEO
Hall Takes Role as Executive Chairman
Blanchard to Change Roles December 31, 2010
Hall Takes Role as Executive Chairman
Blanchard to Change Roles December 31, 2010
New Orleans, LA April 29, 2010 Superior Energy Services, Inc. (NYSE: SPN) today announced that
its board of directors has selected David Dunlap as Chief Executive Officer of the company,
effective immediately. Dunlap, a veteran oil and energy executive, most recently served as
Executive Vice President and Chief Operating Officer of BJ Services Company, Houston, TX, a
worldwide provider of pressure pumping, well completion, production enhancement and pipeline
services. BJ Services recently merged with Baker Hughes Incorporated (NYSE:BHI).
Terence Hall, 64, who founded Superior Energy in 1989 and has since served as the companys
Chairman and CEO, has led the organization from one with 125 employees and $12 million in revenues
to a publicly-traded company with more than $1.4 billion in revenues, approximately 4,800
employees, and a presence in 17 countries at more than 150 locations. Hall, whose leadership and
vision has consistently brought value to the companys shareholders, will assume the role of
Executive Chairman of the Board of Directors.
Also today, Superior Energy announced that Kenneth Blanchard, 60, the companys President and Chief
Operating Officer, will remain in his role through the end of 2010 when he will transition to the
position of senior advisor.
Dave Dunlap has worked and held leadership positions in the oil and energy industry for more than
25 years and he is widely respected by all of us in this industry, said Hall. Dunlap has been a
key player in the management team at BJ Services that grew the company to one that is a global
leader in multiple well service product lines. Under his direction, BJ expanded internationally in
the Middle East, Asia, Africa and Russia. In addition, BJ expanded from its legacy pumping services
line into a variety of other products and services including completion tools, sand control
services, production chemicals, casing and tubing handling services, completion fluids and pipeline
services. We are very pleased to have attracted Dave to lead Superior into our next phase of
growth. He will be an enormous asset to the company.
Our President and COO, Ken Blanchard, has been an integral part of this company since its founding
and will be staying in his current position during Daves transition into the CEO role. After that,
he will serve as a senior advisor to the organization. I want to thank him for his
decades of
service to the company and specifically his instrumental role in helping us grow from a $12 million
plug and abandonment company to the more than $1.4 billion diversified energy services provider we
are today.
I greatly admire this company, said Dunlap, 48. Terry Hall and Ken Blanchard have aggressively
grown the enterprise since day one. Theyve expanded the companys international footprint, wisely
diversified its product lines and invested in superior technology. The company has an outstanding
management team and extremely talented employees. Now, I have the good fortune to be succeeding a
man who has created an extremely healthy company with tremendous potential for continued growth
both domestically and internationally.
Superior Energy Services, Inc. serves the drilling and production-related 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 Companys fleet of modern marine assets.
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 uncertainty of macroeconomic and
business conditions worldwide, as well as the global credit markets; risks associated with the
Companys rapid growth; changes in competitive factors and other material factors that are
described from time to time in the Companys 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.
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