Service & Supply | Quarterly / Earnings Reports | Oilfield Services
Superior Energy Services Q3 Results Hit by Flat Rig Count
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Superior Energy Services, Inc. has reported that third quarter 2013 earnings are expected to be in the range of $0.39 to $0.41 per diluted share.
The third quarter was affected primarily by continued reduced pricing and utilization for several U.S. land services, including fluid management in the Company's Onshore Completion and Workover Services segment, and coiled tubing, remedial pumping (cementing, acidizing, and non-horizontal well fracturing) and other production-related services in the Production Services segment.
David Dunlap, CEO of Superior, commented, "Our guidance for the second half of the year was in part predicated on the premise that we could maintain margins across our various completion and production-related service lines. However, the flat U.S. land horizontal rig…
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