Superior Energy to draw on revolver for Hallin Marine Subsea purchase

By Sara Rosenberg

New York, Dec. 11 - Superior Energy Services Inc. plans to use borrowings under its existing revolving credit facility to fund the acquisition of Hallin Marine Subsea International plc for about $168.3 million, according to a news release.

The transaction is expected to close in the first quarter of 2010.

Superior Energy is a New Orleans-based provider of oilfield services and equipment to serve drilling and production-related needs of oil and gas companies.

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