HOUSTON, Feb. 3, 2014 (GLOBE NEWSWIRE) -- Oil States International, Inc. (OIS) announced today that the Company's Canadian subsidiary, PTI Group Inc. ("PTI"), has begun construction of a new Canadian Lodge, McClelland Lake Lodge, located North of Fort McMurray in the Athabasca oil sands region of Alberta, Canada. PTI will provide its integrated workforce accommodations solution at the lodge where it will engineer, design, build, own and manage the lodge facility, which will have an initial capacity of 1,561 rooms and potential to reach 1,997 rooms in the future. PTI plans to open the lodge in the summer of 2014 and reach full initial capacity in the fourth quarter of 2014.
McClelland Lake Lodge will initially support a new oil sands mining project in the region under a three-year contract for the majority of the rentable rooms. The lodge will provide PTI'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.
"McClelland Lake Lodge is our eighth major lodge in the oil sands region and will provide us with a broader exposure to mining developments in an area of increasing customer activity," Cindy B. Taylor, Oil States' President and Chief Executive Officer stated. "We are eager to commit additional growth capital in the Canadian oil sands, further expanding our accommodations presence in the region while partnering with our customers under term contracts."
Oil States International, Inc. is a diversified oilfield services company and is a leading integrated provider of remote site accommodations with prominent market positions in the Canadian oil sands and the Australian mining 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 and land drilling services to the oil and gas industry. Oil States International, Inc. is a publicly listed company on the New York Stock Exchange trading under the ticker symbol OIS.
For more information on the Company, please visit Oil States International's website at http://www.oilstatesintl.com.
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 therein will be based on then 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" and "Risk Factors" sections of the Form 10-K for the year ended December 31, 2012 filed by Oil States with the SEC on February 20, 2013, the "Risk Factors" section of the Form 10-Q for the three months ended September 30, 2013 filed by Oil States with the SEC on November 1, 2013, and the "Risk Factors" section of the Form 10 filed by OIS Accommodations SpinCo Inc. with the SEC on December 12, 2013.
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Oil States International, Inc.
Oil States International, Inc.