This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Superior Energy Services, Inc. Announces New Segment Reporting

Stocks in this article: SPN

HOUSTON, Feb. 20, 2013 /PRNewswire/ -- Superior Energy Services, Inc. (NYSE: SPN) announced today that it has realigned its segment reporting. As a result, beginning with the 2012 fourth quarter and full-year results (scheduled to be released Tuesday, February 26, 2013), the Company will report business segment information for four reportable segments as follows: Drilling Products and Services, Onshore Completion and Workover Services, Production Services and Subsea and Technical Solutions. The expansion from two to four reportable segments reflects separation of the former Subsea and Well Enhancement business segment into the Onshore Completion and Workover Services, Production Services and Subsea and Technical Solutions business segments. The Drilling Products and Services business segment is unchanged.

The Onshore Completion and Workover Services segment consists primarily of the Company's pressure pumping, well service rig and fluids management businesses. The Production Services segment consists primarily of the Company's coiled tubing, wireline, snubbing and remedial pumping businesses. The Subsea and Technical Solutions segment primarily consists of the Company's pressure control, completion tools, subsea construction, end-of-life services, marine technical services and production and sale of oil and gas.

Dave Dunlap, President and Chief Executive Officer of Superior, commented, "The composition of each segment better reflects our product and service offering throughout the life cycle of the well. We believe this new segment reporting format will provide greater clarity into the financial performance of our diverse portfolio of products and services, and alignment between business strategies and our operating results. In addition, we believe this format will make relative comparisons to our industry peers more visible and meaningful."

To learn more about the new financial reporting structure, including historical data recasting previously issued information into the new format, please visit www.superiorenergy.com, and click on New Segments under the Investor Relations tab.

Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through its brand name drilling products and its integrated completion and well intervention services and tools, supported by an engineering staff who plan and design solutions for customers.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs