Superior Well Services, Inc. (NASDAQ: SWSI) announced the closing of their previously announced public offering of 6,900,000 shares of common stock, which includes the full exercise of the underwriters' over-allotment option of 900,000 shares. All shares were sold at a price of $10.50 per share. The net proceeds of the offering were approximately $68.8 million.
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About Superior Well Services
Superior Well Services, Inc. provides a range of well-site solutions to oil and natural gas companies, primarily technical pumping services and down-hole surveying services. Technical services include technical pumping, down-hole surveying and completion, production and rental tool services. Fluid logistics services include those services related to the transportation, storage and disposal of fluids that are used in the drilling, development and production of hydrocarbons. The Company operates through its 36 service centers located in Pennsylvania, Alabama, Arkansas, Colorado , Kansas, Louisiana, Michigan, Mississippi, New Mexico, North Dakota, Ohio, Oklahoma, Texas, Utah, Virginia, West Virginia and Wyoming. As of December 31, 2008, the Company owned a fleet of 1,628 commercial vehicles, through which it provided technical pumping services. In July 2008, the Company acquired Nuex Wireline, Inc.
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