Superior Energy Services-North America Services 425 Business combination disclosure

Exhibit 99.1

Complete Production Services, Inc. Reports Third Quarter 2011 Earnings from Continuing Operations of $0.75 Per Diluted Share

Houston—(Business Wire)—October 26, 2011—Complete Production Services, Inc. (NYSE: CPX) today reported third quarter revenue of $590.3 million, Adjusted EBITDA (as defined below) of $157.3 million, operating income of $108.6 million and net income from continuing operations of $59.3 million, or $0.75 per diluted share.

Revenue for the Completion and Production Services segment during the third quarter of 2011 was $535.6 million, an increase of $43.7 million over the prior quarter. Adjusted EBITDA for the segment was $154.2 million in the third quarter of 2011, up $9.3 million versus the second quarter of 2011.

Drilling Services segment revenue was $54.7 million during the third quarter of 2011, an increase of $2.3 million over the second quarter of 2011. Adjusted EBITDA for the segment was $14.4 million in the third quarter of 2011, an increase of $0.6 million compared to the previous quarter.

Compared to the third quarter of 2010, consolidated revenue increased $180.0 million, or 44%, Adjusted EBITDA increased $46.2 million, operating income increased $42.1 million, and net income from continuing operations increased $27.7 million, or $0.34 per diluted share.

As previously reported, third quarter 2011 results were adversely impacted by several items that are not expected to affect future results, including delayed deliveries of fluid ends, required design modifications on recently deployed coiled tubing units, flooding in Pennsylvania and northern Mexico, and repositioning of a pressure pumping fleet from the Barnett Shale to West Texas. Additionally, third quarter 2011 results included pre-tax costs of $0.9 million related to the proposed merger of Complete and Superior Energy Services, Inc. and a foreign exchange loss of $1.6 million due to a 15% devaluation of the Mexican Peso against the U.S. dollar.

“We achieved several significant accomplishments and delivered record earnings during the quarter despite the impact from these items,” commented Joe Winkler, Chairman and Chief Executive Officer of Complete.

“Our successes during the quarter included:

• The deployment of our third Eagle Ford frac spread under a long-term take or pay agreement;

• The start-up of pressure pumping operations in the Permian Basin of West Texas;

• The deployment of an additional large-diameter extended reach coiled tubing unit;

• Improved performance of our North Dakota pressure pumping operations; and

• Exiting the quarter with cash and restricted cash of $225.3 million.”

“Additionally, at the beginning of the fourth quarter we deployed a new 49,500 horsepower pressure pumping spread in the Marcellus under a long-term take or pay contract and we completed the acquisition of a Permian Basin focused pressure pumping, cementing and acidizing service company for $77.8 million, net of cash acquired and subject to working capital adjustments, and up to $6.5 million in additional milestone payments.”

“This acquisition along with the other investments we have recently made in West Texas provides us with a substantial platform in this well established oil basin. We now offer all of our core completion services

in this market including pressure pumping, coiled tubing, well servicing and fluid management. We see meaningful opportunities to continue expanding our position in this region, which has attractive growth prospects due to the application of modern completion techniques.”

“We remain optimistic regarding activity levels in the oil and liquid-rich resource plays in North America into 2012, in spite of the current macroeconomic uncertainty. Additionally, our level of conviction regarding the long-term prospects for our business is as strong as ever based on overall industry fundamentals and the tremendous job our people have done in positioning the company for the future.”

“We look forward to completing the merger with Superior Energy Services, Inc., which we expect to close as soon as the end of this year, so we can begin realizing the powerful benefits of combining these two industry leaders,” concluded Mr. Winkler.

Complete Production Services, Inc. is a leading oilfield service provider focused on the completion and production phases of oil and gas wells. The company has established a significant presence in unconventional oil and gas plays in North America that it believes have the highest potential for long-term growth.

Complete will hold a conference call to discuss third quarter 2011 results on Wednesday, October 26, 2011 at 10:00 a.m. Eastern Time. To participate in the live conference call, dial (866) 356-4441 at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 14420817. The conference call will be available for replay beginning at 12:00 p.m. Eastern Time on October 26, 2011, and will be available until November 2, 2011. To access the conference call replay, please call (888) 286-8010 and use the passcode: 83134179. The call is also being webcast and can be accessed at our website atwww.completeproduction.com.

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risk and uncertainties. These forward-looking statements include statements regarding future market conditions, opportunities for expansion, the anticipated closing of the company’s merger with Superior Energy Services, Inc. and the company’s future success. Such statements are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, risks associated with the general nature of the oilfield service industry, the uncertainty of near-term and long-term activity levels, general economic conditions in the United States and globally, and other risks described in the company’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release.

Management evaluates the performance of Complete’s operating segments using non-GAAP financial measures, including Adjusted EBITDA. Adjusted EBITDA is calculated as net income from continuing operations before net interest expense, taxes, depreciation, amortization, impairment charges and non-controlling interest. Adjusted EBITDA is not a substitute for GAAP measures of earnings and cash flow. Adjusted EBITDA is used in this press release because our management considers this measure to be an important supplemental measure of performance and believes it is used by securities analysts, investors and other interested parties in the evaluation of companies in our industry.

For more information, please contact:

Canaan Factor

Director of Investor Relations

281-372-2300

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Complete Production Services, Inc.

Consolidated Statements of Operations

For the Quarters Ended September 30, 2011 and 2010 and June 30, 2011

And the Nine Months Ended September 30, 2011 and 2010

(unaudited, in thousands, except share and per share data)

	Quarter Ended									Nine Months Ended
	September 30,						June 30,			September 30,
	2011			2010			2011			2011			2010
		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Revenue		590,289			410,270			544,232			1,623,707			1,064,489
Cost of services		379,192			257,776			346,723			1,042,269			690,023
General and administrative expense		53,830			41,448			49,871			152,453			125,128
Depreciation and amortization		48,695			44,563			49,231			146,832			134,798
		481,717			343,787			445,825			1,341,554			949,949
Income from continuing operations before interest and taxes		108,572			66,483			98,407			282,153			114,540
Interest expense		12,917			14,151			13,666			40,709			43,653
Interest income		(180	)		(73	)		(131	)		(407	)		(249	)
Income from continuing operations before taxes		95,835			52,405			84,872			241,851			71,136
Tax provision		36,513			20,814			31,782			91,420			28,609
Income from continuing operations	$	59,322		$	31,591		$	53,090		$	150,431		$	42,527
Discontinued operations, net of tax	$	(136	)	$	1,439		$	1,415		$	2,194		$	3,412
Net income	$	59,186		$	33,030		$	54,505		$	152,625		$	45,939
Earnings per Share:
Continuing operations	$	0.76		$	0.41		$	0.68		$	1.94		$	0.56
Discontinued operations	$	(0.00	)	$	0.02		$	0.02		$	0.03		$	0.04
Basic earnings per share:	$	0.76		$	0.43		$	0.70		$	1.97		$	0.60
Continuing operations	$	0.75		$	0.41		$	0.67		$	1.90		$	0.55
Discontinued operations	$	(0.01	)	$	0.01		$	0.02		$	0.03		$	0.04
Diluted earnings per share:	$	0.74		$	0.42		$	0.69		$	1.93		$	0.59
Weighted average shares outstanding:
Basic		78,004			76,130			77,777			77,578			75,957
Diluted		79,445			77,792			79,187			79,080			77,395

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Complete Production Services, Inc.

Condensed Consolidated Balance Sheets

As of September 30, 2011 and December 31, 2010

(in thousands)

	September 30,			December 31,
	2011			2010
	(unaudited)			(unaudited)
Assets:
Cash	$	208,281		$	119,135
Other current assets		543,445			416,075
Property, plant and equipment, net		1,073,825			950,932
Goodwill		252,137			247,675
Restricted cash(1)		17,000			17,000
Other long-term assets		26,274			24,162
Assets of discontinued operations		—			25,597
Total assets		2,120,962			1,800,576
Liabilities and stockholders’ equity:
Current liabilities		210,121			145,563
Long-term debt		650,000			650,000
Long-term deferred tax liabilities		275,784			190,389
Other long-term liabilities		4,512			5,916
Liabilities of discontinued operations		—			2,874
Total liabilities		1,140,417			994,742
Common stock		780			764
Treasury stock		(7,408	)		(1,765	)
Additional paid-in capital		688,709			657,993
Retained earnings		278,790			126,165
Cumulative translation adjustment		19,674			22,677
Total stockholders’ equity		980,545			805,834
Total liabilities and stockholders’ equity	$	2,120,962		$	1,800,576

⁽¹⁾ Represents funds placed in escrow as a compensating balance for certain potential long-term insurance claim liabilities, effectively cash collateralizing and replacing a letter of credit.

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Complete Production Services, Inc.

Consolidated Segment Information

For the Quarters Ended September 30, 2011 and 2010, and June 30, 2011

And Nine Months Ended September 30, 2011 and 2010

(in thousands, except percentages)

	Quarter Ended
	September 30,						June 30,
	2011			2010			2011
	(unaudited)			(unaudited)			(unaudited)
Revenue:
Completion and production services	$	535,625		$	361,457		$	491,881
Drilling services(2)		54,664			48,813			52,351
Total revenues	$	590,289		$	410,270		$	544,232
Adjusted EBITDA:(1)
Completion and production services	$	154,249		$	108,104		$	144,931
Drilling services(2)		14,388			12,685			13,782
Corporate and other		(11,370	)		(9,743	)		(11,075	)
Total	$	157,267		$	111,046		$	147,638
Adjusted EBITDA as a % of Revenue:
Completion and production services		28.8	%		29.9	%		29.5	%
Drilling services(2)		26.3	%		26.0	%		26.3	%
Total		26.6	%		27.1	%		27.1	%

	Nine Months Ended
	September  30, 2011			September  30, 2010
	(unaudited)			(unaudited)
Revenue:
Completion and production services	$	1,464,593		$	938,205
Drilling services(2)		159,114			126,284
	$	1,623,707		$	1,064,489
Adjusted EBITDA:(1)
Completion and production services	$	420,694		$	250,609
Drilling services(2)		40,561			26,622
Corporate and other		(32,270	)		(27,893	)
	$	428,985		$	249,338
Adjusted EBITDA as a % of Revenue:
Completion and production services		28.7	%		26.7	%
Drilling services(2)		25.5	%		21.1	%
Total		26.4	%		23.4	%

⁽¹⁾  Adjusted EBITDA is a non-GAAP measure used by management, as defined in the last paragraph of this press release.

⁽²⁾ Our Products segment historically consisted of our fabrication and repair shop in north Texas and our Southeast Asian business. We sold our Southeast Asian business in July 2011 and recorded these results as discontinued operations. The remaining Products segment has been combined into the Drilling Services segment for all periods presented.

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Complete Production Services, Inc.

Reconciliation of Adjusted EBITDA to Net Income (Loss)

For the Quarters Ended September 30, 2011 and 2010, and June 30, 2011

And the Nine Months Ended September 30, 2011 and 2010

(unaudited, in thousands)

	Completion &  Production Services		Drilling Services		Corporate & Other			Total
Quarter Ended September 30, 2011:
Adjusted EBITDA(1)	$	154,249	$	14,388	$	(11,370	)	$	157,267
Depreciation & amortization		43,147		4,972		576			48,695
Operating income (loss)	$	111,102	$	9,416	$	(11,946	)	$	108,572
Interest expense									12,917
Interest income									(180	)
Income taxes									36,513
Income from continuing operations								$	59,322
Quarter Ended September 30, 2010:
Adjusted EBITDA(1)	$	108,104	$	12,685	$	(9,743	)	$	111,046
Depreciation & amortization		39,078		4,970		515			44,563
Operating income (loss)	$	69,026	$	7,715	$	(10,258	)	$	66,483
Interest expense									14,151
Interest income									(73	)
Income taxes									20,814
Income from continuing operations								$	31,591
Quarter Ended June 30, 2011:
Adjusted EBITDA(1)	$	144,931	$	13,782	$	(11,075	)	$	147,638
Depreciation & amortization		43,585		5,042		604			49,231
Operating income (loss)	$	101,346	$	8,740	$	(11,679	)	$	98,407
Interest expense									13,666
Interest income									(131	)
Income taxes									31,782
Income from continuing operations								$	53,090
Nine Months Ended September 30, 2011:
Adjusted EBITDA(1)	$	420,694	$	40,561	$	(32,270	)	$	428,985
Depreciation & amortization		129,988		15,063		1,781			146,832
Operating income (loss)	$	290,706	$	25,498	$	(34,051	)	$	282,153
Interest expense									40,709
Interest income									(407	)
Income taxes									91,420
Income from continuing operations								$	150,431
Nine Months Ended September 30, 2010:
Adjusted EBITDA(1)	$	250,609	$	26,622	$	(27,893	)	$	249,338
Depreciation & amortization		118,641		14,653		1,504			134,798
Operating income (loss)	$	131,968	$	11,969	$	(29,397	)	$	114,540
Interest expense									43,653
Interest income									(249	)
Income taxes									28,609
Income from continuing operations								$	42,527

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure used by management, as defined in the last paragraph of this press release.

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