S&P: Superior Energy unaffected

Standard & Poor's said Superior Energy Service Inc.'s (BB/stable/--) recently announced acquisition, through its subsidiary SPN Resources Co., of producing properties in the Gulf of Mexico will not have an immediate affect on the company's ratings or outlook.

S&P said Superior Energy has sufficient financial flexibility to absorb the acquisition without adversely affecting its credit profile. The acquisition complements the company's strength in the decommissioning and abandonment services business, and the cash flows associated with the producing properties should have a beneficial effect on Superior Energy's credit position.

In the longer term, the way in which management shifts operational focus and pursues growth in the oil and gas production business could have an effect on the company's rating and/or outlook, according to S&P.

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