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Tuesday, 02 December, 2008, 21:50 GMT | more >>

Superior leaps ahead



By Upstream staff 

Louisiana's Superior Energy Services has reported a second-quarter net profit of $23.8 million, or $0.30 per share, in 2005, up by 187% from the same period the previous year.

Operating profit for the quarter was up from $18.7 million in 2004 to $45.9 million in 2005 while revenues were up by 38% to $190 million.

The company also increased its production from 161,600 barrels of oil equivalent in 2004 to 662,000 boe in 2005.

Superior chief executive Terry Hall said that the results were due to continued expansion of the company's rental tools business into land and international markets, higher our oil and gas production, higher commodity prices, and increased demand for rental tools, production-related services, environmental and plug and abandonment services.


Tuesday, 02 August, 2005, 01:54 GMT  | last updated: Tuesday, 02 August, 2005, 01:54 GMT

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