Court Approves Oil States' Acquisition Of The MAC

HOUSTON, Dec. 15, 2010 (GLOBE NEWSWIRE) -- Oil States International, Inc. (NYSE:OIS) announced today that the Supreme Court of New South Wales (Court) today approved the scheme of arrangement for Oil States to acquire The MAC Services Group Limited (ASX:MSL) (MSL). The Court's approval of the scheme follows the approval of the scheme by MSL shareholders at the scheme meeting held on Monday, December 13, 2010. Oil States expects the scheme to be implemented on December 30, 2010. 

In connection with the Court approval, Oil States closed on its previously announced senior credit facilities arranged by Wells Fargo Bank, N.A. The senior credit facilities were upsized to $1.05 billion from the originally announced $900 million. The senior credit facilities consist of revolving credit facilities in both the U.S. and Canada aggregating $750 million as well as funded term debt in both the U.S. and Canada totaling $300 million. The senior credit facilities have a maturity date of December 10, 2015. 

About Oil States International

Oil States International, Inc. is a diversified oilfield services company. With locations around the world, Oil States is a leading supplier of a broad range of services to the oil and gas industry, including remote site accommodations, production-related rental tools, oil country tubular goods distribution and land drilling services as well as a leading manufacturer of products for deepwater production facilities and subsea pipelines. Oil States is publicly traded on the New York Stock Exchange under the symbol OIS.

The Oil States International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6058

About The MAC Services Limited

The MAC Services Group Limited (The MAC) is one of Australia's largest integrated accommodations group, specializing in mixed-use villages for people that work and live in key natural resource regions. The MAC currently has over 400 staff and more than 5,000 permanent rooms under management in the Bowen Basin (Queensland) and in Kambalda (Western Australia).