HOUSTON, Aug. 20, 2014 (GLOBE NEWSWIRE) -- Oil States International, Inc. (NYSE:OIS) announced today that its Board of Directors has authorized an extension of the repurchase authorization of the Company's Common Stock to September 1, 2015. This authorization replaces the prior share repurchase authorization which was set to expire on September 1, 2014. The Company has approximately $219 million remaining available under the repurchase authorization and presently has approximately 54.1 million shares of Common Stock outstanding. The repurchases may be effected from time to time in accordance with applicable securities laws, through solicited or unsolicited transactions in the market, or in privately negotiated transactions. Subject to applicable securities laws, such purchases will be at times and in amounts as the Company deems appropriate.
About Oil States
Oil States International, Inc. is an energy services company with a leading market position as a manufacturer of products for deepwater production facilities and certain drilling equipment, as well as a provider of completion services 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".
For more information on the Company, please visit Oil States International's website at http://www.oilstatesintl.com.
Forward Looking Statements
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 are 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 energy service industry and other factors discussed in the "Business" and "Risk Factors" sections of the Form 10-K for the year ended December 31, 2013 filed by Oil States with the Securities and Exchange Commission on February 25, 2014.