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Oil States International, Inc. (OIS) is a key player in the global oil and gas industry, offering an extensive range of products and services tailored to meet the needs of deep water production facilities and subsea pipelines. As a leading manufacturer, Oil States provides engineered capital equipment and consumable products utilized in the drilling, well construction, and production phases of oil and natural gas. The company’s expertise extends beyond manufacturing, encompassing a variety of essential services, including land drilling, completion and production-related rental tools, workforce accommodations, logistics, and the distribution of oil country tubular goods.
Oil States International operates through three primary business segments: Offshore/Manufactured Products, Well Site Services, and Downhole Technologies. The Offshore/Manufactured Products segment generates the majority of the company’s revenue by delivering advanced equipment for offshore oil and gas production. The Well Site Services division supports onshore operations through the provision of high-quality rental tools and well completion services. Meanwhile, the Downhole Technologies segment focuses on innovative solutions for drilling and well intervention.
The company’s client base includes national and international oil and natural gas companies, onshore and offshore drilling firms, and various oilfield service providers. Oil States International also serves the defense and industrial sectors, showcasing the versatility and broad applicability of its product and service offerings.
Recent achievements for Oil States International include strategic partnerships and advancements in technological innovation, enhancing its capabilities and market position. The company continually invests in research and development to optimize its product lineup and service efficiency, ensuring they meet the evolving demands of the energy sector.
Oil States International (NYSE: OIS) announced the departure of Executive Vice President Chris Cragg, effective March 1, 2021, as he pursues other opportunities. The Company will not replace him, with President and CEO Cindy Taylor assuming his responsibilities. Taylor expressed gratitude for Cragg's two decades of service, highlighting his role in the Company's growth since its IPO in 2001. Oil States is a global provider of products and services in the oil and natural gas sectors, headquartered in Houston, Texas.
Oil States International (OIS) reported a fourth-quarter 2020 net loss of $18.7 million, or $0.31 per share, due to $4.3 million in asset impairment and $2.7 million in severance charges. Revenue stood at $137.4 million, with Adjusted EBITDA of $2.2 million, reflecting improvements in the Downhole Technologies and Well Site Services segments. The company secured a new $125 million credit facility and reduced net debt by $128 million in 2020. For the full year, OIS had a net loss of $468.4 million and revenues of $638.1 million, including substantial non-cash impairment charges.
Oil States International (NYSE: OIS) has secured a $125 million asset-based revolving credit agreement, replacing its previous $200 million facility. The agreement, managed by Wells Fargo and other lenders, allows borrowing against eligible U.S. receivables and inventory with a maturity date of February 10, 2025. Interest rates will be LIBOR plus 2.75% to 3.25%. The credit facility includes standard covenants limiting cash accumulation over $30 million, new debt, and other financial activities.
Oil States International, Inc. (NYSE: OIS) will hold its fourth quarter 2020 earnings conference call on February 18, 2021, at 9:00 a.m. CT. The earnings report for the quarter ending December 31, 2020, will be released on February 17, 2021, after market close. Investors can join the call via Oil States’ website or by calling 1 (888) 771-4371 in the U.S. A replay will be available shortly after at the same link.
Oil States specializes in products and services for the oil and gas industry.
Oil States International reported a Q3 2020 net loss of $20.0 million ($0.33 per share) on revenues of $134.8 million. Key highlights include $87.0 million in cash flow from operations and a reduction of net debt by $91.9 million. The company faced challenges in its Offshore/Manufactured Products segment, with revenues down 17% sequentially. Despite a 3% increase in revenues from Well Site Services and a 25% rise in Downhole Technologies, overall performance remained affected by customer activity delays. The company's backlog stood at $227 million, a 3% sequential decline.
Oil States International, Inc. (NYSE: OIS) has scheduled its third quarter 2020 earnings conference call for October 30, 2020, at 10:00 a.m. Central Time. The earnings results for the quarter ended September 30, 2020, will be released on October 29, 2020, after market close. Investors can participate in the call via webcast on Oil States’ website or by dialing in with a provided passcode. The company specializes in providing products and services for the oil and gas industry and is headquartered in Houston, Texas.
Oil States International (OIS) reported a net loss of $24.6 million, or $0.41 per share, for Q2 2020 on revenues of $146.2 million, reflecting the severe impacts of the COVID-19 pandemic. Consolidated EBITDA was a loss of $4.5 million, but excluding severance and downsizing charges, it totaled $0.9 million. The company generated $38.7 million in cash flow from operations and reduced net debt by $39.3 million. The Offshore/Manufactured Products segment showed resilience, with a 4% revenue increase. However, revenues fell sharply in Completion Services and Downhole Technologies, declining 56% and 64%, respectively.
Oil States International (NYSE: OIS) has scheduled its Q2 2020 earnings conference call for July 30, 2020, at 10:00 a.m. CT. The earnings report is expected to be released on July 29, 2020, after market close. The call will be accessible via Oil States' website and by dial-in. The company specializes in products and services for the oil and gas industry, including drilling and production sectors. Oil States is headquartered in Houston and operates globally.
Oil States International (NYSE: OIS) will have its President and CEO, Cindy B. Taylor, present at the J.P. Morgan 2020 Energy, Power & Renewables Virtual Conference on June 17, 2020, at 11:30 a.m. ET. The presentation will be accessible via a live webcast, with slides available on Oil States’ investor relations website beforehand. Oil States provides products and services for the oil and gas industry, focusing on drilling, completion, and infrastructure. Headquartered in Houston, Texas, Oil States is publicly traded under the symbol 'OIS'.
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