Superior Well Services Sells More Common Stock

Superior Well Services, Inc. on Wednesday announced the sale of an additional 690,000 shares of its common stock in connection with the exercise by the underwriters in its follow-on common stock offering of their option to purchase additional shares to cover over-allotments.

The purchase price of $25.50 per share was identical to the purchase price per share of the common stock sold in Superior's follow-on stock offering of 4,600,000 shares, which closed on December 12, 2006. Net proceeds to Superior from the sale of the additional 690,000 shares was approximately $16.7 million, substantially all of which will be used to repay outstanding indebtedness and to purchase additional oilfield service equipment. KeyBanc Capital Markets was the lead manager of the offering. A.G. Edwards, RBC Capital Markets, Simmons & Company International and Johnson Rice & Company L.L.C. acted as co-managers.

Superior Well Services, Inc. is an oilfield services company operating in many of the major oil and natural gas producing regions of the United States.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Control Specialist
Expertise: Project Controls
Location: Houston, TX
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
Accounting Manager
Expertise: Accounting
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours