Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 28, 2007
Event: Regulation FD Disclosure regarding capital expenditure authorization.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. It discloses a specific capital expenditure authorization:
- Authorized Expenditure: US$18.4 million
- Project: Expansion of the PTI Wapasu Creek Lodge
- Location: Oil sands region of northern Alberta, Canada
- Timing: Planned for later in 2007
Material Changes
The Board of Directors approved the expansion of accommodations operations in Canada. This represents a material increase in planned capital investment for the current fiscal year compared to prior plans, though specific prior period expenditure figures are not provided in this text.
Guidance, Outlook, and Risks
Management Commentary: The Board authorized the Canadian subsidiary, PTI Group Inc., to proceed with the expansion to support operations in the oil sands region.
Risks and Contingencies: The filing does not explicitly detail risks, contingencies, or unusual items associated with this specific expenditure beyond the standard capital investment nature.
Investor Verification Checklist
- Verify the total capital budget for 2007 to assess the impact of the additional $18.4 million expenditure.
- Review the full text of the press release (Exhibit 99.1) for details on the expected return on investment or timeline for the lodge expansion.
- Monitor future filings for updates on the execution of this capital project and any associated financing activities.