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    Superior Energy Services acquires 50 per cent interest in new liftboats

    Vessel & ROV News // May 2, 2008

    Superior Energy Services in the US has acquired a 50 per cent interest in two 265ft class liftboats from Moreno Energy.

    The company and Moreno Energy have also entered into contracts to jointly construct on a 50/50 basis two additional 265ft class liftboats.

    Superior expects the total cost for its 50 per cent interest in the four liftboats will be approximately US$52 million.

    Under the terms of the company's arrangements with Moreno Energy, Superior will market and operate the liftboats.

    Construction of the first two liftboats is scheduled to be complete in the third and fourth quarters 2008, while construction of the last two liftboats is scheduled to be complete in late 2009.

    The liftboats will be certified to work in international waters as they will be built to meet US Coast Guard, American Bureau of Shipping (ABS) and SOLAS standards.

    In addition, each liftboat will have two cranes (of 200 tons and 70 tons capacity), 8,500 square feet of clear deck space, and accommodation for up to 40 people.

    Terence Hall, Chairman and CEO of Superior, said: "This investment enhances our position to compete in the international liftboat market. We expect that the combination of our liftboat operating experience, increasing international sales and marketing presence and our experience in working marine assets internationally will assist us in further diversifying our liftboat business to new geographic markets."


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