HOUSTON, March 6 /CNW/ -- Oil States International, Inc. (NYSE: OIS) is
pleased to announce that the Company's Canadian subsidiary, PTI Group Inc.
("PTI"), was awarded a multi-year agreement with Suncor Energy Services Inc.
("Suncor") to provide accommodations in support of oil sands development
projects. Under the terms of the contract, PTI will provide up to 519 rooms
on a guaranteed basis including catering, ancillary and logistical services
for Suncor in its PTI Wapasu Creek Lodge through July 31, 2008.
PTI Wapasu Creek Lodge, located North of Fort McMurray, Alberta, is in
the heart of the oil sands developments. This lodge, which is currently under
construction, will initially have 589 rooms providing oil sands workers and
contractors with best-in-class accommodations. The Wapasu Creek Lodge will
provide PTI's full suite of first-class accommodations and services including
catering, ancillary and convenience services, free internet service,
conference rooms and fitness facilities for entertainment and relaxation.
"PTI is pleased to continue our long-standing relationship with Suncor,"
stated Ron Green, PTI's President and Chief Executive Officer. "We are
pleased to be Suncor's third-party accommodations provider in support of their
Firebag expansion project. Through the Wapasu Creek Lodge and its sister
lodges, Athabasca Lodge and Beaver River Executive Lodge, PTI provides first-
class accommodations to oil sands operators, their employees and contractors.
We are setting the new standard for remote site accommodations in the oil
sands region where we believe our top-notch service can make a difference in
the quality of a customer's daily work experience."
"The Wapasu Creek Lodge is a new, major investment for our accommodations
business in 2007," stated Douglas E. Swanson, Oil States' Chief Executive
Officer. "Wapasu Lodge is being developed with the infrastructure in place to
support further expansion up to 1,500 total rooms depending on customer
demand. This lodge is a continuation of our organic growth plan in Canada as
we look to leverage our experience in providing remote site accommodations to
further support the growing needs of our oil sands customers."
Oil States International, Inc. is a diversified oilfield services
company. With locations around the world, Oil States is a leading manufacturer
of products for deepwater production facilities and subsea pipelines, and a
leading supplier of a broad range of services to the oil and gas industry,
including production-related rental tools, work force accommodations and
logistics, oil country tubular goods distribution and land drilling services.
Oil States is organized in three business segments -- Offshore Products,
Tubular Services and Well Site Services, and 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
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 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 and other factors discussed within the
"Business" section of the Form 10-K for the year ended December 31, 2006 filed
by Oil States with the SEC on February 28, 2007.
For further information:
For further information: Bradley J. Dodson of Oil States International,
Inc., +1-713-652-0582 Web Site: http://www.oilstatesintl.com