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February 27, 2008
New Dynamic Offshore To Buy 75% Of SPN Resources

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Newly formed, Houston-based Dynamic Offshore Resources LLC plans to acquire a 75% interest in SPN Resources LLC, the E&P division of oilfield services and equipment-provider Superior Energy Services Inc., Harvey, La., (NYSE: SPN) for $165 million in cash. The acquisition is the first for Dynamic following its recent funding from Riverstone Holdings/Carlyle.


SPN focuses on the Gulf of Mexico and has proved reserves of 13.7 million barrels of oil equivalent as of year-end 2007. SPN uses Superior’s well-intervention expertise to increase reserves by deploying assets during Superior’s off-peak periods.


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