Key Developments: Oil States International Inc (OIS.N)
99.98USD
22 May 2013
$-2.22 (-2.17%)
$102.20
$102.26
$103.37
$99.81
127,012
229,513
$103.37
$60.03
Latest Key Developments (Source: Significant Developments)
Oil States International Inc to Acquire Tempress Technologies
Oil States International Inc announced that its subsidiary, Oil States Energy Services Inc (OSES), has acquired Tempress Technologies Inc. Headquartered in Kent, Washington, Tempress designs, develops and markets a suite of hydraulically activated tools utilized during downhole completion activities. The total transaction consideration was $52.5 million, funded from amounts available under Oil States' existing U.S. revolving credit facility. Full Article
Oil States International Inc Secures Extension of Kearl Construction Accommodations Contract and Announces Award of Ten Year Permanent Staff Residence Contract
Oil States International Inc announced that the Company's Canadian accommodations subsidiary, PTI Group Inc. (PTI), was awarded a two-and-a-half-year extension by Imperial Oil Ltd. (IOL or Imperial) to provide accommodations for IOL's employees in support of the expansion phase of the Kearl oil sands development. The extension term commences April 1, 2013 and extends into 2015, utilizing rooms at PTI's Wapasu Creek Lodge and Henday Lodge. In addition to the construction camp contract extension, PTI was awarded a ten-year contract in support of future operations personnel working on the Kearl project. PTI will utilize a portion of its existing Wapasu Creek Lodge for Imperial's permanent staff residence which will initially consist of 675 rooms and increase over the term of the contract which extends to August 31, 2022. Full Article
Oil States International Inc Announces Share Repurchase Program
Oil States International Inc announced that its Board of Directors has authorized $200,000,000 for the repurchase of the Company's Common Stock, par value $.01 per share. This authorization replaces the prior share repurchase authorization which was set to expire on September 1, 2012. The Company presently has approximately 54.8 million shares of Common Stock outstanding. The repurchases may be effected from time to time in accordance with applicable securities laws, through solicited or unsolicited transactions in the market or in privately negotiated transactions. The Board of Directors' authorization is limited in duration and expires on September 1, 2014. Subject to applicable securities laws, such purchases will be at times and in amounts as the Company deems appropriate. Full Article
Oil States International, Inc.'s Oil States Industries, Inc. To Acquire Piper Valve Systems
Oil States International, Inc. announced that its subsidiary, Oil States Industries, Inc., has entered into a definitive asset purchase agreement to acquire Piper Valve Systems, Ltd. Headquartered in Oklahoma City, Oklahoma, Piper Valve Systems designs and manufactures high pressure valves and manifold components for oil and gas industry projects located offshore, onshore and subsea. For the twelve months ended December 31, 2012, Piper is expected to generate approximately $34.0 million of revenues. Subject to customary post-closing adjustments, total transaction consideration was $48.0 million, funded from amounts available under Oil States' existing credit facility. Full Article
Oil States International, Inc. Announces Purchase Of Eagle Ford Accommodations Facility
Oil States International, Inc. announced that has purchased an open camp accommodations facility located in Carrizo Springs, TX, 115 miles southwest of San Antonio, TX, and will provide accommodations support to customers working in the Eagle Ford basin. The modular facility is operational and features 60 available beds with both private and double occupancy rooms, each with wireless internet and satellite TV. The property also offers shared kitchenettes and laundry facilities. Terms of the transaction were not disclosed. Full Article
Oil States International, Inc.'s Oil States Industries Secures Contract
Oil States International, Inc. announced that its Oil States Industries subsidiary has been awarded a contract from Subsea 7 to supply 27 FlexJoint Steel Catenary Riser (SCR) terminations and 40 receptacle assemblies for the Guara and Lula NE oilfields in Brazil. Delivery of the FlexJoint equipment is scheduled to begin in 2012. Oil States' scope of supply will also incorporate the exclusive field-proven bellows and HPHT FlexJoint technology that Oil States developed for the offshore industry. Full Article
BRIEF-Oil States shares up following Einhorn comments late Wednesday
NEW YORK, May 9 - Oil States International Inc : * Shares up 3.9 percent in premarket trade following Einhorn comments on the
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