Oil States Announces New Australian Village
HOUSTON, April 10, 2013 (GLOBE NEWSWIRE) -- Oil States International, Inc. (NYSE:OIS) announced today that the Company's Australian subsidiary, The MAC Services Group Pty Ltd ("The MAC") is constructing a new Australian village, The MAC Boggabri Village, located in the Gunnedah Basin in New South Wales, Australia. The MAC is providing its integrated workforce accommodations service at the village where it will design, build, own and manage the facility which will have an initial capacity of 508 rooms. The village is expected to be ready for occupancy during the fourth quarter of 2013.
Construction of The MAC Boggabri Village is backed by multiple customer contracts with initial durations of up to five-years and provides for essentially full occupancy of the rentable rooms for the first year-and-a-half of operations. Boggabri is located in close proximity to The MAC's Narrabri Village and will support customers' metallurgical coal and secondarily thermal coal projects in the region.
Boggabri will provide The MAC's full suite of first-class accommodations and services including catering, ancillary and convenience services, internet service, conference rooms and leisure facilities for fitness, entertainment and relaxation.
"Construction of The MAC Boggabri Village, our tenth village in Australia, supported by take-or-pay contracts, speaks to our customers' increasing accommodations needs and their positive long-term outlook for metallurgical and thermal coal demand," Cindy B. Taylor, Oil States' (OIS) President and Chief Executive Officer stated. "We are eager to commit growth capital in the region and further expand our accommodations presence in the Gunnedah Basin, offering our services to a growing customer base."
Oil States International, Inc. is a diversified oilfield services company and a leading integrated provider of remote site accommodations with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Oil States is also a leading manufacturer of products for deepwater production facilities and subsea pipelines as well as a provider of completion services, oil country tubular goods distribution and land drilling services to the oil and gas industry. Oil States is publicly traded on the New York Stock Exchange under the symbol OIS.
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The foregoing contains forward-looking statements within the meaning 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 risks and uncertainties. The forward-looking statements included therein are based on then 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 and other factors discussed in the "Business" and "Risk Factors" sections of the Form 10-K for the year ended December 31, 2012 filed by Oil States with the SEC on February 20, 2013.
CONTACT: Company Contact: Bradley J. Dodson Oil States International, Inc. 713-652-0582 Patricia Gil Oil States International, Inc. 713-470-4860
Source: Oil States International, Inc. 2013 GlobeNewswire, Inc.