Attached files
file | filename |
---|---|
8-K - FORM 8-K - NABORS INDUSTRIES LTD | h75975e8vk.htm |
EX-10.1 - EX-10.1 - NABORS INDUSTRIES LTD | h75975exv10w1.htm |
EX-99.3 - EX-99.3 - NABORS INDUSTRIES LTD | h75975exv99w3.htm |
EX-99.1 - EX-99.1 - NABORS INDUSTRIES LTD | h75975exv99w1.htm |
Exhibit 99.2
NEWS RELEASE | ||
Nabors Successfully Completes Tender Offer For
Superior Well Services Shares
Superior Well Services Shares
Hamilton, Bermuda, September 9, 2010 /PRNewswire FirstCall Nabors Industries Ltd. (Nabors)
(NYSE: NBR) today announced that stockholders of Superior Well Services, Inc. (Superior Well
Services) (NASDAQ: SWSI) have tendered 28,457,901 shares of common stock, representing
approximately 92.4 percent of Superior Well Services outstanding common stock, in Nabors tender
offer for all such shares. The offer period for tendering such shares expired at midnight (New
York City time) on September 8, 2010 and was not extended.
According to the terms of the tender offer, all shares that were validly tendered during the offer
period have been accepted for payment. Nabors intends to complete the acquisition of Superior Well
Services through a short-form merger, that is, without a vote or meeting of Superior Well
Services remaining stockholders. In the merger, each remaining share of Superior Well Services
common stock will be converted into the right to receive $22.12 per share, in cash, without
interest and less any required withholding taxes, which is the same amount per share paid in the
tender offer. The merger is expected to occur on or about September 10, 2010. Following the
merger, Superior Well Services will become a wholly owned subsidiary of Nabors, and Superior Well
Services common stock will no longer be listed on NASDAQ.
Gene Isenberg, Nabors Chairman and CEO, commented: I am very pleased with the results of our
tender offer for the shares of Superior Well Services. Since our original announcement regarding
the merger agreement, we have received favorable feedback from numerous key customers. This has
reinforced our expectation of achieving significant synergies and validates our favorable
perceptions regarding the quality of Superiors technology, operations and especially their
personnel. I look forward to welcoming the experienced, capable and motivated staff of Superior to
the Nabors family of companies upon completion of the transaction. The application of Nabors
resources to this well respected franchise will be beneficial to all involved.
The information above includes forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to
certain risks and uncertainties, as disclosed by Nabors from time to time in its filings with the
Securities and Exchange Commission. As a result of these factors, Nabors actual results may differ
materially from those indicated or implied by such forward-looking statements.
The Nabors companies own and operate approximately 550 land drilling and approximately 728 land
workover and well-servicing rigs in North America. Nabors actively marketed offshore fleet
consists of 39 platform rigs, 13 jackup units and 3 barge rigs in the United States and multiple
international markets. In addition, Nabors manufactures top drives and drilling instrumentation
systems and provides comprehensive oilfield hauling, engineering, civil construction, logistics and
facilities maintenance, and project management services. Nabors participates in most of the
significant oil and gas markets in the world.
For further information, please contact Dennis A. Smith, Director of Corporate Development for
Nabors Corporate Services, Inc., at 281-775-8038. To request Investor Materials, contact our
corporate headquarters in Hamilton, Bermuda at 441-292-1510 or via email at
mark.andrews@nabors.com.