Oil States Announces Contract Award for Merlin™ Deepsea Mineral Riser System
14 September 2023 - 11:00PM
Business Wire
Oil States International, Inc. (NYSE: OIS), a global provider of
manufactured products and services for the energy, industrial and
military sectors, today announced its receipt of a notable contract
for its award-winning Merlin™ Deepsea Mineral Riser system. The
system will be deployed to harvest critical seabed minerals such as
cobalt, manganese, nickel and rare earth elements which are key
components in batteries for electric vehicles, solar cells, wind
turbines, computers and smartphones.
Oil States has applied more than 40 years of experience as a
leader in the design and manufacture of advanced connection systems
for deepwater offshore applications to meet the new demands of
deepsea mineral harvesting with its OSI Minerals™ division and the
Merlin™ Deepsea Mineral Riser system. Deepsea mineral recovery
requires expertise in ultra-deepwater environments far away from
the closest harbor, as equipment must be durable and reliable for
this technically and operationally challenging environment. Oil
States is in a unique strategic position to support the cultivation
of a stable supply of these important minerals that are required to
diversify the world’s energy sources.
Oil States' President and Chief Executive Officer, Cindy B.
Taylor, commented, "We are very proud of the industry's recognition
of our expertise and the technologies we have developed to enable
pathways toward a lower-carbon multi-source energy mix to meet
growing global energy demands. We are connecting the energy future
by leveraging our rich oil and gas heritage to support the
development of additional energy sources while augmenting our core
technologies, setting the stage for longer-term growth.”
About Oil States, International,
Inc.
Oil States International, Inc. is a global provider of
manufactured products and services to customers in the energy,
industrial and military sectors. The Company's manufactured
products include highly engineered capital equipment and consumable
products. Oil States is headquartered in Houston, Texas with
manufacturing and service facilities strategically located across
the globe. 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 www.oilstatesintl.com.
Cautionary Language Concerning Forward
Looking Statements
The foregoing contains forward-looking statements within the
meaning of Section 27A 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 herein are based on 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 others, the level of supply and demand for oil and natural
gas, fluctuations in the current and future prices of oil and
natural gas, the level of exploration, drilling and completion
activity, general global economic conditions, the cyclical nature
of the oil and natural gas industry, geopolitical tensions, the
financial health of our customers, the actions of the Organization
of Petroleum Exporting Countries ("OPEC") and other producing
nations with respect to crude oil production levels and pricing,
the impact of environmental matters, including executive actions
and regulatory efforts to adopt environmental or climate change
regulations that may result in increased operating costs or reduced
oil and natural gas production or demand globally, our ability to
access and the cost of capital in the bank and capital markets, our
ability to develop new competitive technologies and products, and
other factors discussed in the "Business" and "Risk Factors"
sections of the Company's Annual Report on Form 10-K for the year
ended December 31, 2022 and the subsequently filed Quarterly
Reports on Form 10-Q and Periodic Reports on Form 8-K. Readers are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date hereof, and, except as
required by law, the Company undertakes no obligation to update
those statements or to publicly announce the results of any
revisions to any of those statements to reflect future events or
developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20230914604910/en/
Lloyd A. Hajdik Oil States International, Inc. Executive Vice
President, Chief Financial Officer and Treasurer (713) 652-0582
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