Published:
Superior Well Services, Inc. Announces Nuex Wireline, Inc. Asset Acquisition to Expand Presence in Rocky Mountain Region
INDIANA, Pa., July 18 /PRNewswire-FirstCall/ -- Superior Well Services,
Inc. (Nasdaq: SWSI) today announced that on July 16, 2008 it purchased
substantially all of the operating assets of Nuex Wireline, Inc. ("Nuex") for
approximately $6.0 million in cash. Nuex provides cased hole completion
services. The operating assets include 5 cased hole trucks and various tools
and logging systems that are compatible with Superior's existing systems.
Superior plans to retain all of Nuex's 16 employees. The acquired operations
will be integrated into Superior's Rocky Mountain operations, which will
expand its presence inBrighton, Colorado.
Commenting, David Wallace, Chief Executive Officer, stated, "The Nuex
acquisition expands our wireline operations in our growing Rocky Mountain
Region and provides us with a number of top-tier personnel. Additionally,
this accretive acquisition provides new opportunities to grow Superior's
stimulation, nitrogen and cementing services in markets currently serviced by
Nuex's operating assets."
Superior Well Services, Inc. is an oilfield services company operating in
many of the major oil and natural gas producing regions inthe United States.
SOURCE Superior Well Services, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Oil, Gas and Energy, Banking and Finance, , pennsylvania, colorado
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