HOUSTON, Sept. 17, 2020 /PRNewswire/ -- Superior
Energy Services, Inc. (the "Company") today announced that the
Company was notified by the New York Stock Exchange ("NYSE") of its
determination to commence proceedings to delist and suspend trading
of the Company's common stock due to failure to meet the NYSE's
$15 million, 30-trading day average
market capitalization standard. The Company anticipates that,
effective September 18, 2020, its
common stock will commence trading on the OTCQX Market under the
symbol "SPNX". The Company's transition to the OTCQX Market is not
expected to affect the Company's business operations.
About Superior Energy Services
Superior Energy Services serves the drilling, completion and
production-related needs of oil and gas companies worldwide through
a diversified portfolio of specialized oilfield services and
equipment that are used throughout the economic life cycle of oil
and gas wells. For more information, visit:
www.superiorenergy.com.
Forward-Looking Statements
This press release contains, and future oral or written
statements or press releases by the Company and its management may
contain, certain forward-looking statements within the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Generally, the words "expects," "anticipates,"
"targets," "goals," "projects," "intends," "plans," "believes,"
"seeks" and "estimates," variations of such words and similar
expressions identify forward-looking statements, although not all
forward-looking statements contain these identifying words. All
statements other than statements of historical fact regarding the
Company's business operations, financial position, financial
performance, liquidity, strategic alternatives, market outlook,
future capital needs, capital allocation plans, business strategies
and other plans and objectives of our management for future
operations and activities are forward-looking statements. These
statements are based on certain assumptions and analyses made by
the Company's management in light of its experience and prevailing
circumstances on the date such statements are made. Such
forward-looking statements, and the assumptions on which they are
based, are inherently speculative and are subject to a number of
risks and uncertainties that could cause the Company's actual
results to differ materially from such statements. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside the control of
the Company, which could cause actual results to differ materially
from such statements.
These forward-looking statements are also affected by the risk
factors, forward-looking statements and challenges and
uncertainties described in the Company's Form 10-K, the Company's
Form 10-Q for the quarters ended March 31,
2020 and June 30, 2020, and
those set forth from time to time in the Company's other periodic
filings with the Securities and Exchange Commission, which are
available at www.superiorenergy.com. Except as required by law, the
Company expressly disclaims any intention or obligation to revise
or update any forward-looking statements whether as a result of new
information, future events or otherwise.
View original
content:http://www.prnewswire.com/news-releases/superior-energy-services-receives-notice-from-nyse-regarding-continued-listing-standard-301133663.html
SOURCE Superior Energy Services, Inc.