As a result of the merger, each share of Warrior common stock has been converted into the right to receive $14.50 in cash and 0.452 shares of Superior common stock. Information regarding the exchange of share certificates will be sent to Warrior stockholders.
Commenting on the acquisition of Warrior, Terence E. Hall, Superior's Chief Executive Officer and Chairman of the Board, said, "We look forward to implementing growth plans that we believe will create one of North America's largest providers of premium production-related services, participating in both the offshore Gulf of Mexico and key domestic land market areas."
Superior Energy Services is a provider of specialized oilfield services and equipment focused on serving the production-related needs of oil and gas companies primarily in the Gulf of Mexico and the drilling-related needs of oil and gas companies in the Gulf of Mexico and select international market areas. The Company uses its production-related assets to enhance, maintain and extend production and, at the end of an offshore property's economic life, plug and decommission wells. Superior Energy Services also owns and operates mature oil and gas properties in the Gulf of Mexico.
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