Under the agreement, which was approved by Warrior's stockholders at a special meeting, Superior has acquired Warrior for approximately $175 million in cash and 5.3 million shares of common stock.
"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 offshore Gulf of Mexico and key domestic land market areas," said Terence Hall, Superior's chairman and CEO.
Superior Energy Services, headquartered in Harvey, La., is the industry's leading provider of specialized oilfield services and equipment focusing on production, intervention, workover, well services and rental tools.
. Warrior 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, as well as plugging and abandoning the well. Warrior's well intervention services are primarily hydraulic workover services or snubbing services. The company has operations in both onshore and offshore natural gas and oil-producing areas in the United States.
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