SUPERIOR WELL SERVICES, INC.

SUPERIOR WELL SERVICES, INC.

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Company Overview
Superior Well Services, Inc, with registered office address in Indiana, is a US-based public company active in the oil industry. It started its business in the year 1997.
The firm is specialized in the provision of oilfield services operating in many of the major oil and natural gas producing regions of the United States. It offers a wide range of well site solutions primarily technical pumping services and down-hole surveying. Other products and services of the company includes cement blends, cement additives, nitrogen, casing attachments, cased hole products and fracturing systems.
The company’s operations have expanded from two service centers in the Appalachian region to more than 19 service centers scattered across the nation, providing coverage across 38 states. It manages more than nine newest service centers in West Virginia, Virginia, Utah, Louisiana, Arkansas, Oklahoma, Texas, Michigan and New Mexico and the recent acquisition of substantially all the operating assets of Patterson Wireline L.C.C. in Colorado.
The majority of the company’s customers are regional, independent oil and natural gas companies. Superior Well Services serves these customers in key markets in many of the active domestic oil and natural gas producing regions, including the Appalachian, Mid-Continent, Rocky Mountain, Southeast and Southwest regions.
Superior Well Services aims to establish a significant market presence by identifying and pursuing opportunities in markets where it can capitalize on its competitive advantages.
Business Summary
Superior Well Services, Inc. (Superior) provides a range of wellsite solutions to oil and natural gas companies, primarily technical pumping services and down-hole surveying services. The Company operates in two segments: technical services and fluid logistics. Technical services include technical pumping services, completion, production and rental tool services, and down-hole surveying services. Fluid logistics services include those services related to the transportation, storage and disposal of fluids that are used in the drilling, development and production of hydrocarbons. The Company operates through its 28 service centers located in Pennsylvania, Alabama, Arkansas, Colorado, Kansas, Louisiana, Michigan, Mississippi, North Dakota, Oklahoma, Texas, Utah, Virginia, West Virginia and Wyoming. As of December 31, 2009, the Company owned a fleet of 1,614 commercial vehicles, through which it provided technical pumping services.
Description and history
Superior Well Services, Inc. (Superior) provides a range of wellsite solutions to oil and natural gas companies, primarily technical pumping services and down-hole surveying services. The Company operates in two segments: technical services and fluid logistics. Technical services include technical pumping services, completion, production and rental tool services, and down-hole surveying services. Fluid logistics services include those services related to the transportation, storage and disposal of fluids that are used in the drilling, development and production of hydrocarbons. The Company operates through its 28 service centers located in Pennsylvania, Alabama, Arkansas, Colorado, Kansas, Louisiana, Michigan, Mississippi, North Dakota, Oklahoma, Texas, Utah, Virginia, West Virginia and Wyoming. As of December 31, 2009, the Company owned a fleet of 1,614 commercial vehicles, through which it provided technical pumping services.

In April 2009, the Company ceased operations in the Wooster, Ohio service center, which provided down-hole surveying services in the Appalachian region. In May 2009, the Company ceased operations in the Cleveland Oklahoma service center, which provided stimulation, nitrogen and cementing services in the Mid-Continent region. In July 2009, it ceased operations in the Coalgate, Oklahoma service center, which provided cementing services in the Mid-Continent region. In September 2009, it ceased operations in the Alvarado, Texas service center, which provided cementing services in the Southwest region. In October 2009, it ceased operations in the Artesia, New Mexico service center, which provided stimulation and cementing services in the Southwest region. In October 2009, the Company sold all of the assets of the Trinidad, Colorado service center, which provided down-hole surveying services in the Rocky Mountain region.

Technical Services

The Company’s fluid-based stimulation services include fracturing and acidizing. Fracturing services are performed to enhance the production of oil and natural gas from formations with low permeability. The fracturing process consists of pumping a fluid gel into a cased well at sufficient pressure to fracture the formation. As of December 31, 2009, it had 22 stimulation and acidizing crews, and a fleet of 1,176 vehicles. As of December 31, 2009, it provided basic stimulation and acidizing services from 17 service centers. In addition to the Company’s fluid-based stimulation services, it also uses nitrogen, an inert gas, to stimulate wellbores. As of December 31, 2009, the Company had six nitrogen crews and a fleet of 62 nitrogen pump trucks and 46 nitrogen transport vehicles.

The Company’s cementing services consist of blending cement and water with various solid and liquid additives to create cement slurry. As of December 31, 2009, it had 37 cementing crews and a fleet of 330 cement trucks. Superior provides cementing services from 15 service centers. Its completion, production and rental tool services include completion and production services, as well as plugging and abandonment, gravel pack, storm valves, roustabout services and sale and rental of tools and equipment. As of December 31, 2009, the Company owned nine flow back tanks.

The Company provides plugging and abandonment services when a well has reached the end of its productive life. It uses workover rigs, cementing equipment and other equipment in the process of permanently closing oil and natural gas wells no longer capable of producing in economic quantities. The Company provides roustabout services on well sites, which includes constructing production sites, repairing production equipment, laying production flow lines, disassembly of tank batteries, transporting equipment and other ancillary services. It also sells expendable equipment that is used during the cementing process and in the completion of wells, including plugs, tubing anchors, retainers and other accessories. It also rents electric generators and lighting equipment.

Superior offers two types of down-hole surveying services: logging and perforating. As of December 31, 2009, the Company owned a fleet of 118 logging and perforating trucks and cranes through which it provided down-hole surveying services. It sells wireline logging services primarily to open-hole markets and perforating services to cased-hole markets. The Company’s logging services involve the gathering of down-hole information to identify various characteristics of the wellbore. As of December 31, 2009, the Company had nine logging crews and 31 logging trucks. The Company also provides perforating services as the initial step of stimulation by lowering specialized tools and perforating guns into a wellbore by wireline. As of December 31, 2009, it had 21 perforating crews and 87 perforating trucks and cranes.

Fluid Logistics Services

The Company provides a range of services to assist its customers to obtain, transport, store and dispose of fluids that are involved in the drilling, development and production of hydrocarbons. The Company owns or leases approximately 100 fluid hauling transports and trucks, which are used to transport various fluids in the lifecycle of an oil or natural gas well. As of December 31, 2009, it also owned and operated six underground water disposal wells in Texas and Oklahoma. The Company provides fluid logistics services from three services centers, which includes Countyline, Oklahoma; Sweetwater, Oklahoma, and Tolar, Texas.

Superior competes with Halliburton Company, Schlumberger Limited, BJ Services Company, RPC, Inc., Weatherford International Ltd., Key Energy Services, Inc. Complete Production Services, Baker Hughes Incorporated and Basic Energy Services, Inc.

Business Line
Provision of oilfield services operating in many of the major oil and natural gas producing regions of the United States
Subsidiary
NUEX WIRELINE, INC.
Advisor
SCHNEIDER DOWNS & CO.
IPO date
8/2005
US SIC Code
1389
Company Address
Suite 121
1380, Rt. 286 East
City province or state postal code
15701, INDIANA, PA
Phone: +1 724 465 8904
Fax: +1 724 765 8907
Country address: UNITED STATES OF AMERICA
Website url: www.superiorwells.com