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Presentation for the
OTC Investor Meetings
May 2-4, 2011
Forward-looking Statements & Non-GAAP Financial Measures
We include the following cautionary statement to take advantage of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 for any forward-looking statement made by us, or on our behalf. The factors identified in this cautionary statement
are important factors (but not necessarily all of the important factors) that could cause actual results to differ materially from those
expressed in any forward-looking statement made by us, or on our behalf. You can typically identify forward-looking statements by the
use of forward-looking words such as "may," "will," "could," "project," "believe," "anticipate," "expect," "estimate," "potential," "plan,"
"forecast," and other similar words. All statements other than statements of historical facts, including statements regarding our ability
to complete the proposed transaction, the effect of the transaction on our business and financial results, our future financial position,
budgets, capital expenditures, projected costs, plans and objectives of management for future operations and possible future
acquisitions, are forward-looking statements. Where any such forward-looking statement includes a statement of the assumptions or
bases underlying such forward-looking statement, we caution that, while we believe such assumptions or bases to be reasonable and
make them in good faith, assumed facts or bases almost always vary from actual results. The differences between assumed facts or
bases and actual results can be material, depending upon the circumstances. Where, in any forward-looking statement, we, or our
management, express an expectation or belief as to the future results, such expectation or belief is expressed in good faith and
believed to have a reasonable basis. However, there can be no assurance that the statement of expectation or belief will result or be
achieved or accomplished. Taking this into account, the following are identified as important factors that could cause actual results to
differ materially from those expressed in any forward-looking statement made by, or on behalf of, our company: the level of demand
for and supply of oil and gas, fluctuations in the current and future prices of oil and gas, the level of activity and developments in the
Canadian oil sands, the level of drilling activity, the level of mining activity in Australia and demand for coal from Australia, the level of
offshore oil and gas developmental activities, general economic conditions, our ability to find and retain skilled personnel, the
availability of capital, and the other factors discussed within the "Business" and "Risk Factors" sections of our Form 10-K for the year
ended December 31, 2010 filed by Oil States with the SEC on February 22, 2011. You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
Non-GAAP Financial Measures
In this presentation, Oil States has included certain financial measures (EBITDA, EBITDA Margin) which are not calculated in
accordance with generally accepted accounting principles (GAAP). You should not consider these measures in isolation from or as a
substitute for measures prepared in accordance with GAAP. Please refer to the Investor Relations section of our website
(http://www.oilstatesintl.com) for an explanation and reconciliation of non-GAAP financial measures used in this presentation.
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Company Overview
Diversified oilfield services company
o Focused on delivering long term shareholder value and
returns on invested capital
Four business segments
o Accommodations
o Offshore Products
o Well Site Services – Rental Tools & Drilling businesses
o Tubular Services
Three primary activity drivers
o Oil sands/resource developments in Canada and Australia
o Investments in global deepwater production infrastructure
o Drilling and completion activity in North America
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EBITDA Contribution
For the Twelve Months Ended March 31, 2011
Well Site Services
26%
Accommodations
50%
Tubular Services
9%
Offshore Products
15%
Pro Forma EBITDA: $470 Million
Note: Pro forma results include contributions from the recently completed acquisitions of the MAC Services Group Limited, Mountain West
and Acute Technological Services.
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Return to Growth
(U.S. dollars in millions)
EBITDA (1) U.S. Rigs (2)
$700 2,000
1,900
$600
351.4
1,800
$500 1,700
1,600
$400 151.3
203.8
233.1
92.1 1,500
$300
1,400
92.0 72.1
164.8 100.4
$200 1,300
93.4 196.0
178.6
66.9 156.2 1,200
$100 109.3
36.4 92.6 1,100
52.9
$0 1,000
2005 2006 2007 2008 2009 2010
Accommodations Offshore Products North American Drilling and Production (3) U.S. Rig Count
(1) EBITDA excludes corporate costs, as well as goodwill impairment charges taken in 2008 and 2009
(2) U.S. rig count from Baker Hughes
(3) North American Drilling and Production consists of Tubular Services and Well Site Services segments
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Update on Strategic Focus Areas and Outlook
Accommodations segment is levered to oil sands activity in Canada and
Australian natural resources development
o Expansionary growth from capacity additions at Wapasu Creek Lodge
supported by three-year Imperial contract
o Newly announced construction of the Henday Lodge
o Recently announced MAC acquisition in Australia
o Expansion of other major lodges/villages planned over the next 12 months
Global deepwater infrastructure spending (Offshore Products segment)
o Recently awarded content on Big Foot, Papa Terra, Jack / St. Malo and
Mars B
o International growth prospects in Brazil, West Africa and Southeast Asia
o Continue to expand our product and service offering – Acute acquisition
Completion and production activity in North America (Well Site Services and
Tubular Services segments)
o Products and services well positioned in major shale play regions
o Higher-end rental equipment and OCTG product offerings utilized on
horizontal, multi-zone completions
o Spending capital to foster organic growth
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Accommodations Business
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Integrated Remote Site Accommodations Provider
Manufacturing & Construction Fleet Rentals (Contract Camps)
Design & engineering (EPCM) Modular camp facilities
LEEDS accredited Modular Rapid response capabilities
manufacturing Site preparation & installation
Site preparation & installation
Project management
Lodge / Open Camp Operations Facility Management
Oil Sands lodges Catering services
Permanent base camps Housekeeping
Strategically located (clustered Reservation management
industry activity) Maintenance
An overview of our fleet of assets
o Five major lodges strategically located adjacent to several major oil
sands projects
o Six villages in Australia, primarily in Queensland‟s Bowen Basin, serving
natural resource development (coal, iron ore, gold and LNG)
o North American fleet of mobile, modular assets that can be configured
to house people for SAGD drilling, pipeline construction projects and
shale play development
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Map of Selected Oil Sands Leases and Lodges
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Lodges in Oil Sands Region
Room Capacity Estimated Expansion
Project
Completion Date
Current (1) Planned (1)
Beaver River Executive Lodge 732 876 Q4 2011
Athabasca Lodge 1,537 1,965 Q1 2012
Wapasu Creek Lodge 4,013 5,000 Q2 2011
Conklin Lodge 608 832 Q1 2012
Henday Lodge 0 1,264 Q3 2011
Lakeside Lodge 510 510
Christina Lake Lodge 83 83
Total 7,483 10,530
Develop, Own, Operate Model
Differentiated Lodge Amenities
o Mix of room configurations available for clients
o Phone, internet and satellite TV service in each room
o Meeting and conference room facilities
First class accommodations are OIS‟ competitive advantage and
can be our customers‟ advantage in workforce retention
(1) As of March 31, 2011
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Beaver River Executive Lodge
North of Fort McMurray, Alberta with capacity to house over 700 customers daily
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Wapasu Creek Lodge Expansion
Northeast of Fort McMurray with planned capacity to house 4,500 customers daily
As of July 2010
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Summary of MAC Acquisition
Acquired The MAC Services Group (“The MAC”) for A$3.90 per share, or
approximately A$651 million, on December 30, 2010
o All cash transaction funded through new US$1.05 billion bank facility
o Immediately accretive to earnings before synergies
The MAC is a leading integrated provider of accommodation services to the natural
resources industry in Australia
o Serves global mining companies producing metallurgical (“met”) and thermal
coal, iron ore, gold and other metals
o Six existing villages with 5,210 total rooms at March 31, 2011 and contracted
expansion to 6,828 rooms by year end 2011
Attractive entry point into growing Australian accommodations market
o Complementary strategy, business model and culture to OIS
o Platform for growth: Opportunities to expand existing villages and undeveloped
properties
o High MAC revenue visibility: 94% of 2011 available room nights are under term
contracts
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Australian Resource Development
DARWIN
World‟s largest
exporter of met and
thermal coal
MACKAY
World‟s largest
GLADSTONE
exporter of iron ore
BRISBANE
World‟s second
PERTH
KALGOORLIE largest producer of
gold
ADELAIDE SYDNEY
0 200 400 600km
Scale
MELBOURNE
World‟s largest
LEGEND
uranium resources
Energy Resources Demonstrated resources (PJ) Gold (tonnes)
Uranium 1,000-2,000
Black Coal <100 000 >2,000 HOBART
Brown Coal
Conventional Gas
100 001 - 250 000
Copper (tonnes) Expanding LNG –
250,000-50,000,000
Coal Seam Gas
Oil (crude, condensate, LPG) >250 000 >50,000,000 conventional and
Basin Type TheMACVillage Iron Ore (tonnes) coal seam gas
Major energy basin 100,000,000-1,000,000,000
VillageUnderConstruction
>1,000,000,000
Major mineral region
Land BankedSites
(ex-energy)
Source: ABARE, Factiva, Geoscience Australia, QLD Government.
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Major Villages in Australia
Room Capacity
Estimated Expansion
Project
Completion Date
Current (1) Planned (2)
Nebo, QLD 490 490
Coppabella, QLD 1,654 2,304 Q3 2011
Moranbah, QLD 889 1,304 Q3 2011
Dysart, QLD 1,249 1,360 Q2 2011
Middlemount, QLD 690 770 Q4 2011
Narrabri, NSW 0 162 Q2 2011
Kambalda, WA 238 238
Karratha, WA 0 200 Q4 2011
Total 5,210 6,828
Develop, Own, Operate Model
Differentiated Lodge Amenities
o Mix of room configurations available for clients
o Phone, internet and satellite TV service in each room
o Taverns, fitness facilities and recreational facilities
o Meeting and conference room facilities
(1) As of March 31, 2011
(2) As of May 2, 2011 15
MAC Villages
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Accommodations Capacity
Average Available Rooms in OIS‟ Oil Sands Lodges & Australian Villages
18,000
16,000
6,828
14,000
6,205
12,000 5,489
10,000 5,135
9,937
9,495
8,000 8,974
7,500 7,835
6,000 7,203
6,276 6,651
4,000
2,000
0
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11F 3Q11F 4Q11F
Available Oil Sands Lodge Rooms Available Australian Village Rooms
Note: MAC acquisition closed on December 30, 2010 and did not contribute to OIS‟ 2010 operating results.
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Mobile Camp Fleet
Utilized for SAGD developments, pipeline construction and drilling camps
Growing presence in Northern shale play regions of the Rockies, Bakken,
Montney and Fayetteville
Mobile Camp in Conklin Conventional Side-by-Side
Utilizing 49-Person Dorms Drilling Rig Camp
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Offshore Products Business
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Offshore Products Driven by Worldwide Deepwater Capital Spending
OIS‟ Product Lines by Activity Drivers
Floating Production Facilities (FPSO‟s, TLP‟s and Spars)
o Steel catenary riser connectors and receptacles
o TLP tendon connectors
o Riser tensioning equipment
o Welding specifications and engineering
o Cranes
Subsea Pipelines
o Collet connectors and jumpers
o Pipeline end manifolds and pipeline tie-in sleds
o Pipeline repair equipment and services
Offshore Drilling, Rigs and Vessel Equipment
o Mooring and winch systems
o Drilling riser FlexJoints
o Conductor Casing Connectors
o Riser repair services
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Global Breadth of Operations
Stavanger, Norway
Aberdeen, Scotland
Bathgate, Scotland
Arlington, TX USA
Barrow, England
Lampasas, TX USA
London, England Baku, Azerbaijan
Houston, TX USA
Tulsa, OK USA Marseille, France
Marseille, France
Houma, LA USA
Houston, TX USA HCMC, Vietnam
Dubai, UAE Rayong, Thailand
Singapore
Lagos, Nigeria
Macaé, Brazil
Operating Division/Sales, Manufacturing & Service Locations
Regional Sales Locations
Addressing capacity globally
Expanded Singapore facility in 2010
Acquired Acute in Q4 „10
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New Singapore Facility
Singapore facility expansion completed in 4Q10
Southeast Asia market continues to grow
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FPSO Content
Structural Mooring Connector
Deck Equipment
Cranes
Cranes Mooring Winches
Fairleads
Heli Refueling System
Clutches & Brakes
Structural Mooring
Spread Mooring Systems SCR – Steel Catenary Riser Connector
FlexJoints
Mooring Winches
Receptacles
Merlin Connectors
FlexJoints & Receptacles
FSHR – Free Standing Hybrid Riser
Merlin Connectors Upper Riser Assembly
Bend Stiffeners
Merlin Connectors
Roto Latch
Pile Anchors
Roto Latch
Pile Anchors
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Historical Backlog Trends
Quarter end Backlog and LTM Revenues for OIS‟ Offshore Products Segment
(U.S. dollars in millions)
$600
$500
$400
$300
$200
$100
$0
Dec-01
Dec-02
Dec-03
Dec-04
Dec-05
Dec-06
Dec-07
Dec-08
Dec-09
Dec-10
Jun-02
Jun-03
Jun-04
Jun-05
Jun-06
Jun-07
Jun-08
Jun-09
Jun-10
Backlog LTM Revenues
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Acceleration of Bookings
Quarterly Order Bookings for Offshore Products Segment
(U.S. dollars in millions)
$220
$200 $208
$180 $188
$160 $168 $164
$140 $149
$144
$120
$122
$100 $109 $106
$98
$80 $87 $83 $83
$60
$40
$20
$0
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11
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North American Services
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Overview of OIS’ North American Value Chain
Production
Drilling Completion Tools & Services Services
Wireline Pressure
Pressure Well
Drilling OCTG Drilling
Flowback Drilling
Coiled tubing Pumping
Pumping Testing
Own and operate 34 land Wireline, coiled tubing and gravel pack Well testing and
drilling rigs in the Permian support equipment and personnel production
Basin and the Rockies testing
Provide wellhead isolation equipment and equipment and
Rigs are highly mobile services which are integral to stage frac service
reducing the mobilization time operations personnel
and the necessary crew size
Flowback and separation equipment and Growing
Leading OCTG distributor in services platform in key
the United States
Network of 55 locations in U.S., Canada shale regions
• Distribute casing and and Mexico serving North America
production tubing for
• Leading market position in oil and
domestic and
gas shale plays
international steel mills
• Proprietary, technology driven, HPHT
Distribution network consists equipment which is well suited for
of five company-owned yards increasingly complex completion
and over 30 third-party requirements
locations
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Oil States’ Completion Tools & Service Offering
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Broad North American Coverage
AB
Rental tools
BC Land drilling
SK MB Accommodations
Tubular services:
Company-owned yards P
WA ON NB
Stocking locations
PQ
MT ND ME
OR
VT
ID
MN NH
WI
SD MI NY MA
WY RI
CT
IA PA NJ
NE
UT IN OH DE
NV IL DC
CA WV MD
CO
KS VA
MO
KY
NC
TN
AZ
NM OK
SC
AR
GA
MS AL
AK TX LA
FL
HI
ZCT 29
Conclusions
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Key Drivers of Profitability
Accommodations growth
o Strong occupancy levels currently at all four operating major oil sands
lodges
o Expanding room count in Canada by 3,047 rooms (41%) over the next 12
months
o Contributions from the MAC acquisition
Addition of 5,210 rooms (Growing to 6,828 rooms by year end)
Immediately accretive before transaction costs
Growth opportunities through existing and new village expansions
o Growth in the Bakken through the Mountain West acquisition and three new
additional facilities opened
Deepwater development spending
o Backlog growth tied to production platform and subsea projects
o Contributions from the Acute acquisition
o Continued international expansion
Capitalize on North American shale play activity
o Service intensity driven by complex completions from horizontal drilling
o Improved pricing for high-end completion equipment
o Demand visibility supporting organic growth
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