Oil States International Inc OIS

Energy Oil & Gas Equipment & Services

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, as well as products consumed in the drilling, well construction and production of oil and natural gas. It operates through three segments. The Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Well Site Services segment includes a range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations.

NYSE:OIS - Post by User

Oil States International Inc

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Post by investorblingon Mar 24, 2007 1:06pm

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Post# 12482381

Recommendations - U.S. Oilfield Services Sector

Concorde

Concorde initiated research coverage of the oilfield services sector on March 22, 2007 with reports on the following 14 companies:

• Atwood Oceanics (ATW : NYSE : $55.29 | BUY, $63.00 target price)

• Basic Energy Services (BAS : NYSE : $23.77 | HOLD, $28.00 target price)

• CARBO Ceramics (CRR : NYSE : $46.52 | HOLD, $44.00 target price)

• Complete Production Services (CPX : NYSE : $19.73 | HOLD, $22.00 target price)

• Core Laboratories N.V. (CLB : NYSE : $84.03 | HOLD, $76.00 target price)

• Helmerich & Payne (HP : NYSE : $30.08 | BUY, $34.00 target price)

• Hercules Offshore (HERO : NASDAQ : $25.99 | BUY, $35.00 target price)

• Hornbeck Offshore (HOS : NYSE : $27.63 | BUY, $30.00 target price)

• Oil States (OIS : NYSE : $31.38 | BUY, $35.00 target price)

• OYO Geospace (OYOG : NASDAQ : $67.91 | HOLD, $65.00 target price)

• Pioneer Drilling Company (PDC : AMEX : $12.73 | HOLD, $15.00 target price)

• RPC (RES : NYSE : $15.66 | BUY, $20.00 target price)

• TETRA Technologies (TTI : NYSE : $24.26 | BUY, $28.00 target price)

• W-H Energy Services (WHQ : NYSE : $43.59 | BUY, $53.00 target price)

We recommend investors market-weight the oilfield services sector. Over the next twelvemonths we expect the Philadelphia Oilfield Services Sector Index to trend to the $220.00 level, 11.8x consensus 2007 EPS expectations, as activity levels remain high and, as a result, equipment and services prices remain robust. Crude oil and natural gas prices, fueled by worldwide economic growth, are the greatest influences on oilfield service companies' share price performance. We expect commodity prices in 2007 to remain high compared to historical levels. The fundamentals of the declining size of exploratory successes and increasingly steep decline rates of established production underpin these positive expectations.

Operationally, the offshore drilling, downhole drilling tools, and well servicing subsectors should be among the best performing sectors in 2007-2008. Our favorite names in our oilfield services research universe are Hercules Offshore, Helmerich & Payne, and TETRA Technologies.

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