Superior closed its previously announced acquisition of Hallin on January 26, 2010. The Company paid approximately $162 million to acquire all of the equity in Hallin. In addition, the Company extinguished Hallin's debt of approximately $55 million.
Hallin is an international provider of integrated subsea services and engineering solutions, focused on installing, maintaining and extending subsea wells. Hallin operates in most international offshore oil and gas markets with offices and facilities located in Singapore, Jakarta, Indonesia; Perth, Australia; Aberdeen, Scotland; and Houston, Texas.