Superior Energy can fall further
Superior Energy Services (SPN) is an oilfield equipment & services (or OFS) provider. Its offerings include drilling products and services, onshore completion and workover services, production services, and technical solutions. I do not expect SPN to turn around in the short-to-medium-term. In the long-term, SPN can recover if the energy market environment improves and SPN continues to capture the international market share.
In the short-term, pricing pressure, lower pressure pumping asset utilization, and upstream producers’ capex budget curtailment can lead to an asset sale off or further write-off