INDIANA, Pa., Dec. 1 /PRNewswire-FirstCall/ -- Superior Well Services, Inc. (Nasdaq: SWSI) today announced that Jacob Linaberger and Rhys Reese each adopted stock trading plans in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and SWSI's policies regarding stock transactions.

Rule 10b5-1 permits the implementation of a written plan for selling common stock at a time when insiders are not in possession of material non-public information and allows them to sell shares on a periodic basis and in a non-discretionary manner, regardless of whether they are in possession of material non-public information at the time the sales occur.

Messrs. Linaberger and Reese are two of the three co-founders of SWSI and serve as SWSI's President, and Executive Vice President, Chief Operating Officer and Secretary, respectively.

As part of their long-term strategies for individual asset diversification and liquidity, these stock trading plans (each of which are effective in December 2009) were adopted in order to allow Messrs. Linaberger and Reese to sell a portion of their SWSI stock over time. The transactions under these plans will be disclosed publicly through Form 4 and Form 144 filings with the Securities and Exchange Commission.

Collectively, Messrs. Linaberger and Reese currently hold approximately 2.1 million shares of common stock, which represents approximately 6.8% of SWSI's outstanding common stock. Under the terms of these stock trading plans, and as a part of an eighteen-month diversification plan, Messrs. Linaberger and Reese each intend to sell approximately 270,000 shares. If they complete all planned sales under these trading plans, Messrs. Linaberger and Reese will retain approximately 74.8% and 73.8% of their current holdings of SWSI stock, respectively. If Messrs. Linaberger and Reese complete all the planned sales under their respective trading plans, they would continue collectively to own approximately 1.6 million shares, which would represent approximately 5.1% of SWSI's outstanding common stock.

For more information about Superior Well Services, Inc. (Nasdaq: SWSI) please visit www.swsi.com. Financial and other information about us is routinely posted on and accessible at www.swsi.com.

Except for historical information, statements made in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by us based on our management's experience and perception of historical trends, current conditions, expected future developments and other factors our management believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include, but are not limited to: a sustained or further decrease in domestic spending by the oil and natural gas exploration and production industry; a continued decline in or substantial volatility of crude oil and natural gas commodity prices; current weakness in the credit and capital markets and lack of credit availability; overcapacity and competition in our industry; our inability to comply with the financial and other covenants in our debt agreements as a result of reduced revenues and financial performance; unanticipated costs, delays or other difficulties in executing our growth strategy, including difficulties associated with the integration of the Diamondback asset acquisition; the loss of one or more significant customers; the loss of or interruption in operations of one or more key suppliers; the incurrence of significant costs and liabilities in the future resulting from our failure to comply with new or existing environmental regulations or an accidental release of hazardous substances into the environment; and other factors detailed in our SEC filings. We undertake no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in our filings with the SEC.

SOURCE Superior Well Services, Inc.

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