Complete Production Services Acquires Platform Businesses in the Marcellus and Haynesville...

Complete Production Services Acquires Platform Businesses in the Marcellus and Haynesville Shales

HOUSTON--(Business Wire)--
Complete Production Services, Inc. (NYSE:CPX) today announced that
it acquired substantially all of the operating assets and certain real
estate used by Appalachian Well Services, Inc. ("AWS"), a provider of
pressure pumping and E-line services in the Appalachian region, and
certain operating assets of TSWS, Inc. ("TSWS"), a provider of well
servicing, heavy haul and other related services in Northern
Louisiana, East Texas and Southern Arkansas.

The assets acquired from AWS include four conventional Appalachian
frac spreads (approximately 17,000 horsepower), a new 20,000
horsepower Marcellus Shale frac spread (to be deployed by year-end), 7
cement spreads, 19 E-line units, two small coiled tubing units and
support equipment. The consideration paid for the assets of AWS was
approximately $49.3 million in cash and 588,292 shares of Complete
common stock. Complete will also pay for the completion of the
Marcellus Shale frac spread at a cost not to exceed $6.5 million.
Additionally, Complete may pay up to an additional $5.0 million in
cash consideration if certain performance targets are achieved in
2009-2010.

The assets acquired from TSWS, Inc. include 24 well servicing
rigs, 3 swab units, 17 haul trucks, rental equipment and other support
equipment. The consideration paid for the assets of TSWS was
approximately $57.0 million in cash.

Commenting on the acquisitions, Chairman and CEO Joe Winkler
stated, "These acquisitions are consistent with our long-term strategy
of acquiring businesses with excellent reputations in new resource
plays. As the Marcellus and Haynesville shales continue to develop, we
will be well positioned to leverage the platforms provided by AWS and
TSWS to take advantage of the increase in demand for our services."
Both transactions are anticipated to be immediately accretive to
earnings.

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.

Safe Harbor Statement

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. The forward-looking
statements included herein 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 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.

Complete Production Services, Inc.
Mike Mayer, 281-372-2311
Jose Bayardo, 281-372-2325

Copyright Business Wire 2008