Superior Energy, an oilfield services company, agreed to merge with Forbes Energy Services, an oilfield services contractor. "The combination of Forbes with Superior Energy's US on-shore oilfield services business will provide Forbes stockholders and convertible noteholders with a meaningful equity ownership position in a US land service consolidation vehicle that will have significantly greater balance sheet flexibility and increased free cash flow generation. We share the conviction of Superior Energy that there are exceptional opportunities to reduce corporate costs, improve asset management, and increase free cash flow generation through increased industry consolidation," John Crisp, Forbes Chairman, President and CEO.