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OFFER TO PURCHASE FOR CASH
ALL OUTSTANDING SHARES OF COMMON STOCK
SUPERIOR WELL SERVICES, INC.
DIAMOND ACQUISITION CORP.
A WHOLLY OWNED SUBSIDIARY
NABORS INDUSTRIES LTD.
AT $22.12 PER SHARE NET TO SELLERS
Nabors Industries Ltd. (“ Nabors ”), through its wholly owned and newly formed subsidiary,
Diamond Acquisition Corp. (“ Offeror ”), is offering to purchase all of the outstanding shares of
common stock, par value $0.01 per share (the “ Shares ”), of Superior Well Services, Inc.
(“Superior”) at a price per share of $22.12 upon the terms and subject to the conditions set forth in
this Offer to Purchase, dated August 11, 2010 (the “ Offer to Purchase ”), and in the related Letter
of Transmittal (which, together with any amendments or supplements, collectively constitute the “
Offer ”). The Offer is being made pursuant to an Agreement and Plan of Merger, dated as of
August 6, 2010, by and among Nabors, Offeror and Superior (the “ Merger Agreement ”). The
Offer is conditioned upon, among other things, there being validly tendered and not properly
withdrawn prior to the expiration of the Offer a number of Shares that, when added to Shares
owned by Nabors or Offeror, represents a majority of the Shares outstanding on a fully diluted
basis. See Section 14 — “Conditions of the Offer”. After the completion of the Offer and the
satisfaction or waiver of certain conditions, Offeror will merge with and into Superior (the “ Merger
”), with Superior surviving the Merger as a wholly owned subsidiary of Nabors.
Superior’s board of directors, at a meeting duly called and held, has unanimously
(i) determined that the Merger Agreement and the transactions contemplated thereby,
including the Offer and the Merger, are advisable to, and in the best interests of,
Superior and its stockholders, (ii) approved the Merger Agreement and approved the
transactions contemplated thereby, including the Offer and the Merger, in accordance
with the requireme