Costa Mesa, Calif. – July 17, 2007 – Publicly traded Oil States International, Inc. (NYSE: OIS) announced that it has acquired the assets of Wire Line Service Ltd. (“Well Testing”), who provides well testing and flowback services through its locations in Texas and New Mexico.
RSM EquiCo Capital Markets initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Well Testing.
“We are very excited about closing the transaction," stated Cindy Taylor, Oil States' president and chief executive officer. "We continue to look to expand our rental tool operations both organically and through acquisitions to better serve our customers particularly in the key resource plays of the United States. We welcome the addition of the high quality employees, customer base and equipment of Well Testing to Oil States."
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
As specialists in facilitating mergers and acquisitions, structuring recapitalizations, providing access to capital markets and offering fairness opinions, RSM EquiCo Capital Markets plays a noteworthy role in the “middle-market” field. These services include facilitating the acquisition of North American companies and raising capital for a wide variety of purposes, ranging from acquisitions and leveraged buyouts to balance sheet restructuring.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC. The firm’s international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Well Testing
Well Testing (www.welltesting.net), headquartered in Midland, Texas, provides the West Texas and Eastern New Mexico (Permian and Delaware Basins) and North Central Texas (Fort Worth Basin) oil and gas producing areas with surface well testing services in accordance with industry standards. Well Testing offers production testing and flowback services and equipment. Additionally, the company builds a line of customized production equipment and gas meter runs to further meet the demands of clients.
About Oil States International, Inc.
Oil States International, Inc. (www.oilstatesintl.com), headquartered in Houston, Texas, 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. For the most recent 12 months, revenues were $1.91 billion.
CONTACT:
RSM EquiCo Inc.
Todd Cooley, Director of Communications
714.327.8865
tcooley@rsmequico.com