HOUSTON, April 10, 2013 (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 MAC Boggabri Village, located in the Gunnedah Basin in New South Wales, Australia. The MAC is providing its integrated workforce accommodations service at the village where it will design, build, own and manage the facility which will have an initial capacity of 508 rooms. The village is expected to be ready for occupancy during the fourth quarter of 2013.
Construction of The MAC Boggabri Village is backed by multiple customer contracts with initial durations of up to five-years and provides for essentially full occupancy of the rentable rooms for the first year-and-a-half of operations. Boggabri is located in close proximity to The MAC's Narrabri Village and will support customers' metallurgical coal and secondarily thermal coal projects in the region.
Boggabri 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."Construction of The MAC Boggabri Village, our tenth village in Australia, supported by take-or-pay contracts, speaks to our customers' increasing accommodations needs and their positive long-term outlook for metallurgical and thermal coal demand," Cindy B. Taylor, Oil States' President and Chief Executive Officer stated. "We are eager to commit growth capital in the region and further expand our accommodations presence in the Gunnedah Basin, offering our services to a growing customer base." Oil States International, Inc. is a diversified oilfield services company and a leading integrated provider of remote site accommodations with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Oil States is also a leading manufacturer of products for deepwater production facilities and subsea pipelines as well as a provider of completion services, 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts