Terence Hall, Superior's Chairman and Chief Executive Officer, stated, "This accretive acquisition represents an important step in our continuing strategy of significantly diversifying our services footprint beyond the Gulf of Mexico. It will appreciably strengthen our foothold in the domestic onshore market, bringing with it a seasoned management team with extensive onshore oilfield services experience and over 570 skilled employees. Once closed, we will be the leading North American production enhancement company with an expansive platform to introduce existing and new, highly technical well intervention services and solutions in virtually all domestic producing basins. Additionally, we intend to use our cash flow to help Warrior fund its capital expenditure program, highlighted by orders for 32 coiled tubing spreads over the next 24 months."
Warrior Energy Services Corporation is a natural gas and oil well services company that provides wireline and well intervention services to exploration and production companies. Its wireline services focus on cased-hole wireline ("electric line") operations, including logging services, perforating, mechanical services, pipe recovery and eventually plugging and abandoning the well. Warrior's well intervention services are primarily hydraulic workover services, commonly known as snubbing services. Warrior has 25 operating bases in 10 states.
Operations are concentrated in the major onshore and offshore natural gas and oil producing areas of the U.S., including offshore in the Gulf of Mexico and onshore in Alabama, Colorado, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Oklahoma, Texas, Utah and Wyoming. Warrior also operates two manufacturing and repair facilities that are located in Laurel, Mississippi and Decatur, Texas which have a combined capacity to manufacture approximately 20 wireline and four snubbing units per year. Warrior's management team averages more than 24 years of industry experience.
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