Oct 2 Oilfield services company Superior Energy
Services Inc estimated a weak third-quarter profit as
operations in the U.S. Gulf of Mexico were hit by Hurricane
Shares of the Houston-based company were down 4 percent in
extended trade. They closed at $20.36 on Tuesday on the New York
Superior Energy estimated an operating profit of 52 to 55
cents per share for the quarter ended September. It reported a
profit of 73 cents per share in the year-ago quarter.
Hurricane Isaac, which struck the Louisiana coast on Aug.
28, nearly shut all oil production in the Gulf of Mexico at one
The company also said during the third quarter its customers
"The pace of reduction (in U.S. land drilling activity) was
greater than we anticipated as our customers have taken action
to contain their 2012 spending to budgeted levels," Chief
Executive David Dunlap said.
Oilfield services companies including Halliburton Co
, the largest provider of such services in the United
States, have also warned of a drop in activity in the home
market during the third quarter.