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SUPERIOR ENERGY SERVICES INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Oct 30, 2024. Its latest SEC filing is a 15-12G from Jan 30, 2025.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Provides oilfield equipment rentals and well services to major and independent oil and gas companies.

How Did They Make Money?

Customers pay for completed services; rental fees are charged by day, labor-hour or similar measure during the rental, while products are sold under purchase orders or contracts.

FY2023 revenue by product or service revenue
SegmentShareRevenue
Services
Sold outright

39%
FY2020: 45%
Rentals
Usage-based

38%
FY2020: 34%
Product Sales
Sold outright

23%
FY2020: 21%

Who Were Their Customers?

Serves major and independent oil and gas companies active in the areas where it operates.

How Were They Changing?

Since the FY2023 annual report
Latest quarter: Q3 FY2024, the three months to Sep 30, 2024
Revenue
▼ −6%
vs $210.4M in Q3 FY2023
Net income
▼ −33%
vs $32.7M in Q3 FY2023
Services share of revenue vs 38.5% in Q3 FY2023
  • Jan 30, 2025 Completed stock splits and suspended periodic reporting obligations The reverse stock split was followed immediately by a forward split; the company then filed Form 15, suspending its reporting duties.
  • Dec 31, 2024 Chief financial officer resigned James Spexarth resigned from all company positions effective December 31, 2024.
  • Aug 19, 2024 New CEO and chairman appointed David J. Lesar replaced Brian Moore as CEO and chairman of the board.

Held flat. Revenue was $919.4M in FY2023, about the same as the $972.1M of FY2019.

Business organization The older report grouped operations into Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions; the latest describes the portfolio through Rentals and Well Services.

Revenue over time
Services Rentals Product Sales
$1B$500M$0

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