Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 30, 2007
Event: Regulation FD Disclosure regarding a definitive asset purchase agreement.
Key Financial Metrics
This filing does not report periodic financial results (revenue, profit, cash flow, margins, debt, or liquidity). It discloses a specific transaction with the following financial terms:
- Total Consideration: Approximately $67.0 million (subject to customary post-closing adjustments).
- Payment Structure: Cash and a $6.0 million seller's note.
Material Changes
The Company entered into a definitive agreement to purchase substantially all assets of Schooner Petroleum Services, Inc. ("Schooner"). Schooner is headquartered in Houston, Texas, and operates eleven locations across Texas, Louisiana, Wyoming, and Arkansas, primarily providing completion-related rental tools and services.
Outlook, Risks, and Management Commentary
The filing serves as a disclosure of the acquisition agreement. No specific guidance, outlook, or risk factors regarding the transaction are detailed within the text of this 8-K, other than the standard reference to customary post-closing adjustments on the purchase price.
Investor Verification Checklist
- Verify the final purchase price after customary post-closing adjustments.
- Review the terms and interest rate of the $6.0 million seller's note.
- Assess the impact of the $67.0 million cash outflow on the Company's current liquidity position.
- Confirm the integration timeline and expected synergies with Schooner's eleven operating locations.