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Superior Energy Posts Q1 Rental Boom

HARVEY, La. Superior Energy Services, which provides services for the offshore oil exploration industry primarily in the Gulf of Mexico, had rental tools revenue of $38.7 million for the first quarter of 2004, a record for its rental division. The rental volume total was an 11-percent increase over its fourth quarter of 2003 and 6 percent higher than its previous quarterly record of $36.4 million established in the second quarter of 2003.

Rentals of stabilizers, drill pipe and accessories to customers in the United States land and Gulf of Mexico deepwater markets increased steadily throughout the quarter, officials said, and demand increased for rentals and services associated with refinery and plant projects, including bolting, torque services and on-site machining.

Superior first quarter rental volume numbers were a 12-percent increase over its first quarter rental figures for 2003.

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