Superior Energy to use revolver borrowings for purchase of assets

By Sara Rosenberg

New York, July 6 - Superior Energy Services Inc. plans to draw on its existing revolving credit facility to fund the $55 million acquisition of Baker Hughes Inc.'s Gulf of Mexico stimulation and sand control business, according to a news release.

The transaction is expected to close in late July, subject to regulatory approval and other customary closing conditions.

Superior Energy is a New Orleans-based provider of oilfield services and equipment.

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