HOUSTON, Oct. 13, 2011 (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 Calliope Village, near Gladstone in Queensland, Australia. The MAC is providing its integrated remote site accommodations service at the village where it will design, build, own and manage the facility which will have an initial capacity of 300 rooms. The village is expected to be ready for occupancy during the fourth quarter of 2011.
Calliope is located in close proximity to Gladstone and Curtis Island where numerous LNG projects have recently been sanctioned. The MAC has already secured a 9-month contract with options for extensions for 100 rooms and is in final negotiations with a second customer for a one-year contract for the remaining rentable rooms. The associated capital expenditures are already included in Oil States' previously disclosed 2011 capital expenditures forecast of $650 million.
Calliope 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.
"We are extremely pleased to announce the continued expansion of our accommodations business in the resource-rich country of Australia," stated Cindy B. Taylor, Oil States' President and Chief Executive Officer. "Calliope's proximity to the various LNG projects sanctioned in the Gladstone area further provides Oil States the ability to support our growing customer base and their increasing accommodation needs."
Oil States International, Inc. is a diversified oilfield services company with recently added exposure to the mining industry through The MAC acquisition. Oil States is a leading, integrated provider of remote site accommodations with prominent market positions in the Canadian oil sands and the Australian mining regions. Oil States is also a leading manufacturer of products for deepwater production facilities and subsea pipelines as well as a provider of completion-related rental tools, 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.
For more information on the Company, please visit Oil States International's website at http://www.oilstatesintl.com.
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The presentation will contain 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 will be 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 within the "Business" and "Risk Factors" sections of the Form 10-K for the year ended December 31, 2010 filed by Oil States with the SEC on February 22, 2011 and the "Risk Factors" section of the Form 10-Q for the three months ended June 30, 2011 filed by Oil States with the SEC on August 2, 2011.