Superior Energy draws $160 million, €48 million on revolving lines

Chicago, March 23 – Superior Energy Services, Inc. said that it has fully drawn its $160 million U.S. revolving credit line and has also drawn €48 million of its €60 million European revolving credit line, according to a press release.

Both credit facilities mature in May 2022.

The company does not anticipate any issues meeting the financial covenants under these facilities.

Superior Energy does not have any other significant funded debt obligations until May 2024, and the company has maintained liquidity levels in line with year-end 2019, well in excess of $250 million.

The company said that it has done this “out of an abundance of caution in this uncertain time.”

Based in Houston, Superior Energy provides oilfield services and equipment.

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