EXHIBIT 99.1

Oil States Announces Fourth Quarter Earnings

HOUSTON, Feb. 19, 2013 (GLOBE NEWSWIRE) -- Oil States International, Inc. (NYSE:OIS) reported net income for the quarter ended December 31, 2012 of $98.5 million, or $1.78 per diluted share. These results compare to net income of $94.3 million, or $1.72 per diluted share, in the fourth quarter of 2011.

The Company generated revenues of $1.1 billion and EBITDA of $222.7 million during the fourth quarter of 2012, compared to revenues of $995.8 million and EBITDA of $205.7 million in the fourth quarter of 2011 (EBITDA^(A) is defined as net income plus interest, taxes, depreciation and amortization). Consolidated operating income and EBITDA increased by 2% and 8% year-over-year, respectively, due to organic growth investments made in the accommodations segment, increased sales of deepwater capital equipment and increased shipments of OCTG in the tubular services segment.

Cindy B. Taylor, Oil States' President and Chief Executive Officer, stated, "Despite a softening global macroeconomic environment and reduced U.S. drilling and completion activity, our results for the fourth quarter of 2012 reflected solid revenue and earnings growth on a year-over-year basis."

"Occupancy levels and RevPAR in our major Canadian lodges and Australian villages remained strong during the fourth quarter of 2012. We organically expanded our lodges and villages by over 2,400 rooms during 2012, a 14% growth rate. A significant portion of our lodge and village rooms are contracted on a multi-year, take-or-pay basis, affording us considerable revenue visibility."

"Our offshore products segment reported record quarterly revenues and EBITDA in the fourth quarter of 2012. Backlog in our offshore products segment improved 5% year-over-year to $561 million at December 31, 2012, but declined $36 million from September 30, 2012 due to strong fourth quarter sales and a reduction in award activity in the fourth quarter of 2012. However, bidding and quoting activity remains strong, and the outlook for global offshore capital equipment demand is robust."

"Our tubular services segment benefitted from strong shipments of OCTG in the fourth quarter largely due to an increase in deepwater Gulf of Mexico deliveries. Well site services' results were negatively impacted by the reduction in U.S. drilling activity and holiday downtime; however, pricing and demand for our proprietary rental equipment was essentially flat quarter-over-quarter."

The Company recognized an effective tax rate of 29.7% in the fourth quarter of 2012 bringing the annualized effective tax rate for 2012 to 28.2%. This compares with an effective tax rate of 31.2% in the fourth quarter of 2011. The lower effective tax rate in the fourth quarter of 2012 was primarily due to higher U.S. state tax expense in the fourth quarter of 2011 and greater foreign earnings as a percentage of total earnings in 2012. Our foreign earnings are taxed at a lower rate than our domestic earnings.

The Company invested $156.2 million in capital expenditures during the fourth quarter of 2012 primarily related to the ongoing expansion of its accommodations business in Australia, Canada and the U.S., the addition of proprietary rental equipment deployed to service the active U.S. shale plays and facility and equipment investments in its offshore products segment. During the fourth quarter of 2012, the Company repurchased $15.2 million, or 225,796 shares, of its common stock under its authorized share repurchase program at an average price of $67.52 per share.

For the year ended December 31, 2012, the Company reported revenues of $4.4 billion, EBITDA of $923.1 million and net income of $448.6 million, or $8.10 per diluted share. The results for 2012 included (i) a pre-tax benefit of $17.9 million, or $0.23 per diluted share after-tax, related to a favorable contract settlement in its U.S. accommodations business recognized in the first quarter of 2012 and (ii) a pre-tax gain of $2.5 million, or $0.03 per diluted share after-tax, related to insurance proceeds received during the second quarter for the land drilling rig that was lost in a fire. For the year ended December 31, 2011, the Company reported revenues of $3.5 billion, EBITDA of $698.1 million and $322.5 million of net income, or $5.86 per diluted share.

BUSINESS SEGMENT RESULTS

(Unless otherwise noted, the following discussion compares the quarterly results from the fourth quarter of 2012 to the results from the fourth quarter of 2011.)

Accommodations

Accommodations generated revenues of $277.4 million and EBITDA of $119.5 million for the fourth quarter of 2012 compared to revenues and EBITDA of $236.9 million and $102.5 million, respectively, in the fourth quarter of 2011. Revenues and EBITDA both increased 17% year-over-year due to a 14% increase in average available rooms and a 9% year-over-year increase in RevPAR due to higher occupancy levels at the Company's major lodges. EBITDA margins remained strong at 43%. Since the majority of the Company's rooms are contracted under long term (three to five years), take-or-pay contracts with minimum occupancy requirements, the slowdown in metallurgical coal mining in Australia in the fourth quarter of 2012 had limited impact on our results as modest declines in occupancy were offset by contracted room additions.

Well Site Services

Well site services generated revenues of $172.4 million and EBITDA of $55.9 million in the fourth quarter of 2012 compared to revenues and EBITDA of $186.8 million and $58.6 million, respectively, in the fourth quarter of 2011. Revenues decreased 8% and EBITDA decreased 5% year-over-year primarily due to the overall reduction in natural gas drilling and completion activity in the U.S. However, EBITDA margins for the segment increased 100 basis points to 32% in the fourth quarter of 2012 compared to 31% in the fourth quarter of 2011.

Our completion services business, formerly referred to as our "rental tools" business, generated strong margins despite declines in U.S. activity. Completion services' revenue per ticket in the fourth quarter of 2012 was up slightly; and activity, as measured by the number of service tickets issued, decreased 7% year-over-year due to reduced work available in the Haynesville, Barnett and Marcellus regions and was partially offset by increased activity in the Rockies region.

Offshore Products

Offshore products generated revenues and EBITDA of $237.3 million and $40.4 million in the fourth quarter of 2012 compared to revenues and EBITDA of $186.1 million and $37.5 million, respectively, in the fourth quarter of 2011. Revenues and EBITDA increased 27% and 8% year-over-year, respectively, primarily due to a revenue mix favoring our connector products and production equipment coupled with contributions from Piper Valves which was acquired in July 2012. Our EBITDA margin percentage decreased to 17% in the fourth quarter of 2012 compared to 20% in the fourth quarter of 2011 largely due to a mix of revenues which included greater conductor casing sales year-over-year coupled with negative inventory adjustments totaling $2.5 million. Backlog totaled $561 million at December 31, 2012 compared to $597 million reported at September 30, 2012 and $535 million reported at December 31, 2011. Major backlog additions during the quarter included connector product orders, production equipment and deck equipment orders.

Tubular Services

Tubular services generated revenues of $455.3 million and EBITDA of $19.0 million during the fourth quarter of 2012 compared to revenues and EBITDA of $386.0 million and $17.3 million, respectively, in the fourth quarter of 2011. Revenues improved 18% and EBITDA increased 10% year-over-year primarily due to the 13% year-over-year increase in the Company's OCTG shipments resulting from increased activity in the Gulf of Mexico coupled with certain market share gains onshore. Gross margin as a percent of revenues were 5.1% in the fourth quarter of 2012 down from the 5.6% margin reported in the fourth quarter of 2011 primarily due to lower margin sales into certain onshore markets as a result of declining OCTG prices throughout 2012. The Company ended the quarter with $450.2 million of OCTG inventories, down $73.5 million, or 14%, from September 30, 2012. The decrease in inventories was primarily due to deepwater Gulf of Mexico shipments made during the fourth quarter of 2012.

Oil States International, Inc. is a diversified oilfield services company and is a leading integrated provider of remote site accommodations with prominent market positions in the Canadian oil sands and the Australian mining regions. Oil States is also a leading manufacturer of products for deepwater production facilities and subsea pipelines as well as a provider of completion-related rental tools, oil country tubular goods distribution and land drilling services to the oil and gas industry. 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 http://www.oilstatesintl.com.

The Oil States International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6058

The foregoing contains forward-looking statements within the meaning 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 therein are based on then 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 other things, risks associated with the general nature of the oilfield service industry and other factors discussed in the "Business" and "Risk Factors" sections of the Form 10-K for the year ended December 31, 2011 filed by Oil States with the SEC on February 17, 2012 and the "Risk Factors" section of the form 10-Q for the three months ended September 30, 2012 filed by Oil States with the SEC on November 2, 2012.

(1) As of December 31, 2012, the Company had approximately $973 million available under its credit facilities.  

(1) The EBITDA of our drilling business for the twelve months ended December 31, 2012 includes a pre-tax gain of $2.5 million related to insurance proceeds received during the second quarter for the land drilling rig that was lost in a fire.     

(2) The EBITDA and operating income of our accommodations segment for the twelve months ended December 31, 2012 includes a pre-tax benefit of $17.9 million related to a favorable contract settlement in its U.S. accommodations business recognized in the first quarter of 2012.

(3) The EBITDA and operating income of our tubular services segment for the twelve months ended December 31, 2012 includes $7.5 million of out-of-period adjustments related to corrections of accruals for customer credits and related returned inventory recognized in the third quarter of 2012.

(A) The term EBITDA consists of net income plus interest, taxes, depreciation and amortization. EBITDA is not a measure of financial performance under generally accepted accounting principles and should not be considered in isolation from or as a substitute for net income or cash flow measures prepared in accordance with generally accepted accounting principles or as a measure of profitability or liquidity. Additionally, EBITDA may not be comparable to other similarly titled measures of other companies. The Company has included EBITDA as a supplemental disclosure because its management believes that EBITDA provides useful information regarding our ability to service debt and to fund capital expenditures and provides investors a helpful measure for comparing its operating performance with the performance of other companies that have different financing and capital structures or tax rates. The Company uses EBITDA to compare and to monitor the performance of its business segments to other comparable public companies and as a benchmark for the award of incentive compensation under its annual incentive compensation plan. The following table sets forth a reconciliation of EBITDA to net income, which is the most directly comparable measure of financial performance calculated under generally accepted accounting principles.

CONTACT: Bradley J. Dodson
         Oil States International, Inc.
         713-652-0582