Superior Energy landed on our trader radar after the company inked a deal to buy smaller rival Complete Production Services.
The cash-and-stock deal of about $2.6 billion, is the firm’s largest, as the oilfield services company looks to bulk up its pressure pumping business.
"I am particularly excited about the pressure pumping fleet that Complete has built out ... It's a fleet that will exceed 670 hp (horse power) by the end of 2012," Superior Chief Executive David Dunlap said on a conference call with analysts.
What else must you know about the deal? Watch our exclusive conversation with CEO David Dunlap now!
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Trader disclosure: On Oct 10, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns AKS; Seymour owns BAC; Seymour owns INTC; Seymour owns POT; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long FCX; Terranova is long TBT; Terranova is long OXY; Terranova is long HOS; Terranova is long F; Terranova is long LULU; Terranova is long OIH; Terranova is long CAT; Terranova is long AXP; Terranova is long EMC; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver December $40 puts; Weiss is long RIMM; Weiss is long QCOM; Weiss is long HPQ; Weiss is long EUO; Weiss is long NIHD; Weiss is long COP; Weiss is long KEG; Weiss is long YHOO; Kinahan is short SPY thru options; Kinahan long CSCO; Nations is long SPY
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