Oil States Completes Schooner Acquisition

Oil States International has completed the previously announced transaction to purchase substantially all of the assets of Schooner Petroleum Services, Inc. The consideration for the assets acquired, totaling approximately $67.0 million subject to customary post-closing adjustments, consisted of cash and a $6.0 million seller's note.

Schooner, headquartered in Houston, Texas, primarily provides completion-related rental tools and services through eleven locations in Texas, Louisiana, Wyoming and Arkansas.

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