Oil States International, Inc

Oil States International is a U.S.-based industrial and energy equipment company organized around three segments: Offshore Manufactured Products, Completion and Production Services, and Downhole Technologies. Through its subsidiaries, it supplies engineered products and field services used in offshore oil and gas production, well completion, and specialized applications for military and industrial customers, with manufacturing and service operations in multiple countries.

−7,6 %

19,9 %

−16,3 %

−3,4 %

1.86

1.17

— Oil States International, Inc
%
Offshore Manufactured Products64% Engineered offshore production, drilling, and subsea equipment for deepwater and related applications.
Completion and Production Services17% Field equipment and services used to complete wells and maintain hydrocarbon flow.
Downhole Technologies19% Specialized downhole tools and technologies, including extended-reach solutions.

Oil States sells primarily to oil and natural gas operators, including national oil companies, major integrated...

  • Offshore oil and gas operatorsprimary

    Buy deepwater connectors, risers, mooring, and subsea systems for offshore production and drilling projects.

  • Onshore and offshore E&P companiesprimary

    Buy completion and production services, pressure control equipment, and downhole technologies to complete and maintain wells.

  • Engineering, procurement, and construction contractorssecondary

    Buy project-specific offshore equipment and services for integrated field development work.

  • Defense and industrial customerssecondary

    Buy specialized engineered products such as naval sound and vibration dampening products and other non-oilfield applications.

  • Other oilfield service companiessecondary

    Outsource certain equipment or services when Oil States has specialized capability or capacity.

Oil States is headquartered in Houston, Texas and operates manufacturing and service facilities across the globe...

  • •Headquartered in Houston, Texas
  • •U.S. completion services are concentrated in oil and gas basins
  • •Gulf of America is a key operating area for field services
  • •Offshore products are sold globally into deepwater markets
  • •International operations create FX exposure, notably UK and Brazil

Oil States focuses on engineered products and services where technical differentiation, project execution, and...

01
Deepwater offshore product leadershipmedium-term

Deepwater projects require specialized equipment and long development cycles, supporting differentiated offerings.

02
Protect and commercialize proprietary downhole technologymedium-term

Patents and patent-pending technologies can support pricing power and customer retention.

03
Broaden end-market exposure beyond oil and gaslong-term

Military, geothermal, and offshore wind applications can diversify demand over time.

04
Keep field-service footprint aligned with U.S. activityshort-term

Completion and production services depend on active wellsite demand and local execution.

Oil States is highly exposed to oil and gas capital spending, so changes in crude oil and natural gas prices can...

high

Dependence on oil and gas capital spending

Customers delay or reduce drilling and development when commodity outlook weakens.

Scope
Most of the portfolio
Materiality
high
high

Commodity price volatility

Revenue and pricing are sensitive to crude oil and natural gas prices.

Scope
Completion and Production Services; Offshore Manufactured Products
Materiality
high
high

Impairment risk on long-lived assets and goodwill

Underperforming assets or weaker forecasts can trigger non-cash write-downs.

Scope
Downhole Technologies and leased locations
Materiality
high
medium

Competitive oversupply in field services and equipment

Industry capacity can exceed demand, reducing pricing and margins.

Scope
U.S. completion and production services
Materiality
high
medium

International operating and FX risk

Foreign operations expose the company to currency swings, trade controls, and political risk.

Scope
United Kingdom, Brazil, and other non-U.S. operations
Materiality
medium
Revenue recognition on custom engineered contracts
Can shift revenue between periods on project-based work
Long-lived asset impairment
Can create large non-cash charges, especially in Downhole Technologies
Goodwill impairment
Can reduce reported equity and earnings if outlook weakens
Lease accounting and exit charges
Affects operating results and comparability across periods
Foreign currency translation
Affects comprehensive income and equity

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: 29/04/2026