Superior Well Services buys Nuex for $6 million

INDIANA, Pa. (AP) - Oilfield services provider Superior Well Services Inc. said Friday it bought Nuex Wireline Inc. for about $6 million in cash. Nuex specializes in cased-hole completion, which involves preparing a path for oil to flow from surrounding rock into production tubing for extraction. The assets include 5 cased hole trucks, various tools and logging systems. Superior plans to keep Nuex's 16 employees. The acquired operations will be integrated into Superior's Rocky Mountain operations in Brighton, Colo. Superior shares rose 3 cents to $29.71 in afternoon... [read full story]