PDVSA Seizes Two Houston-based Rigs

The Venezuelan government seized two Houston-based rigs owned by a unit of Superior Energy Services Inc. last week. The energy company shut down the rigs because the state oil monopoly was several months behind on payments, the Associated Press reported.

Last Thursday, a judge in the state of Anzoategui entered a Superior depot, ordering the company to hand over the reins of the rigs to an affiliate of state-owned Petroleos de Venezuela S.A. (PDVSA). The judge was accompanied by local police and the National Guard.

The company calls the expropriation essential to Venezuela's development and welfare, according to court documents obtained by AP.

Superior Energy did not return phone calls in regards to this matter.

Founded in 1989, Superior Energy is an oil services company with more than $4 billion in revenue.  


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