Oil States Industries

What Oil States Industries does

Oil States Industries is a Houston- and Arlington, Texas-headquartered engineered capital equipment manufacturer serving the offshore oil and gas, renewable energy, marine, and industrial markets. Founded in 1942 and operating as a wholly-owned subsidiary of NYSE-listed Oil States International (OIS), the company designs and produces highly engineered systems for offshore drilling, production, lifting, mooring, and subsea pipeline applications. Its proprietary technology portfolio includes FlexJoint™ SCR/SLWR riser systems (operating since 1976), Merlin™ high-pressure connectors (40,000+ units in service), LynxGrip™ wellhead connectors, Nautilus™ API 2C marine cranes, Piper Valve high-pressure ball valves, and the patent-pending FTLP™ Floating Wind Platform for offshore wind. Oil States has manufactured 95% of the world's Tension Leg Platform (TLP) mooring systems and over 50 high-pressure drilling riser installations globally, supplying the deepest-water and highest-pressure offshore developments.

The business runs a hybrid revenue model spanning one-time capital equipment sales (drilling and production riser systems, subsea pipeline systems, cranes, winches, valves), recurring aftermarket inspection/repair/maintenance services, equipment rentals (cranes, wellhead connectors, risers), and specialty precision manufacturing (Montgomery Machine Company) and welding engineering consulting (Acute Technological Services). It goes to market through direct enterprise field sales teams, with manufacturing and service facilities in 14+ countries and 25+ locations positioned in every major offshore basin — Houston, Aberdeen, Singapore, Macaé, Dubai, Perth, Mumbai, Rayong, Las Palmas, and Abu Dhabi. Customer segments include offshore oil and gas operators (Petrobras being a historical anchor since 1976), drilling contractors (Seadrill), floating production platform operators, and emerging offshore wind developers; pricing is project-specific and quote-based.

For FY2026 the company has guided $680–700M in revenue with EBITDA of $90–95M, supported by a $435M order backlog — the highest in over a decade and up 9% sequentially. Offshore and international markets contribute 77% of revenues. The company is executing a leadership transition effective May 1, 2026, with long-tenured CEO Cindy Taylor (19 years) retiring and CFO Lloyd Hajdik ascending to the CEO role. Beyond its core offshore oil and gas franchise, Oil States is investing in adjacent verticals — offshore wind (FTLP), deepsea minerals gathering, geothermal, tidal, and wave energy — through its OSI Renewables business unit and strategic alliances with Halliburton (2023) and Seadrill (2025).

Name

Oil States Industries

Legal name

Oil States Industries, Inc.

Website

https://oilstates.com

Company type

Public

Founded year

1942

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Oil States Industries is a Houston-based engineered capital equipment manufacturer serving offshore oil and gas, renewable energy, marine, and industrial markets through proprietary riser systems, connectors, marine cranes, and valves produced across 25+ facilities in 14 countries.

Ownership category

akta.pro rank

Product category

Offshore Oil and Gas Equipment

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

akta.pro secondary industries

Propulsion MRO, Spares & Field Service (Overhauls, retrofits, upgrades) (IMAJAHAN), Oil & Gas Facilities Asset Management (Refining/Terminals/LNG) (EUAEAMAG), Production Design & Detailed Engineering (3D CAD, Drawings, BOM, Nesting) (IMAJAGAK), Project Management & Owner’s Engineering / Technical Consultancy (Spec Writing, Bid Support, Site Support) (IMAJAGAO)

Keywords

• Offshore drilling equipment
• Subsea production systems
• Marine riser systems
• Wellhead connectors
• Offshore mooring systems

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Capital Equipment Sales: Sale of highly engineered capital equipment including drilling riser systems, production platform systems, subsea pipeline systems, cranes, winches, and valves for offshore and onshore energy applications.
2. Aftermarket Services: Inspection, repair, maintenance, and specialty welding services for installed equipment. Global IRM (Inspection, Repair & Maintenance) services around the world.
3. Rental Equipment: Rental and lease-to-purchase programs for cranes, wellhead connectors, risers and other subsea capital drilling equipment to reduce customer inventory costs.
4. Precision Manufacturing: Precision machining, specialized weld overlay, and cladding services through Montgomery Machine Company for components in oil and gas, chemical, medical, and power generation markets.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Oil States Industries designs, manufactures, and services highly engineered capital equipment and integrated systems for offshore and onshore energy markets, including drilling riser systems, production platform systems, subsea pipeline systems, marine cranes and mooring systems, wellhead connectors, and high-pressure valves. Its portfolio also encompasses engineered services such as riser analysis, specialty welding, precision machining and cladding, fabrication, inspection/repair/maintenance, custom elastomer molding, rental equipment, and decommissioning, together with renewable energy solutions via its OSI Renewables business unit.

Product overview

Oil States Industries is a global provider of highly engineered capital equipment and consumable products for the energy, industrial, and military sectors. The company's core portfolio spans five major product categories: Production Platform Systems (Tension Leg & SPAR Platforms, FPSOs, Semi-Submersibles, Fixed Platforms), Riser Systems & Conductor Solutions (drilling, completion/workover, production risers, and advanced tubular connectors including Merlin, Lynx, Leopard, Puma, Swift, and MMR connector lines), Subsea Pipeline Systems (shallow water and deepwater connectors, fittings, and repair systems), and Onshore/Marine/Industrial Solutions. The company differentiates through proprietary technologies like FlexJoint™ SCR/SLWR Technology for riser fatigue protection, Nautilus™ marine cranes (API 2C certified), Piper Valve high-pressure compact ball valves, and specialized deepwater equipment. Key innovations include the Merlin™ 15K HPHT Riser System (first ISO13628-7 rated for 15,000 psi), Managed Pressure Drilling systems, and FTLP™ Floating Wind Platform for offshore renewable energy. The company offers comprehensive services including RiserTec engineering consultancy, Acute Technological Services welding, Montgomery Machine precision machining, fabrication, inspection/repair/maintenance, custom molding, rental equipment, and decommissioning. Oil States operates manufacturing and service facilities across 12+ countries with global headquarters in Arlington, Texas.

Differentiator

Problem solved

Functional benefit

Brands

• RiserTec: Independent engineering consultancy specializing in riser, pipeline, mooring and subsea engineering for oil and gas and renewable projects.
• Acute Technological Services (ATS)
• Montgomery Machine Company (MMC)
• OSI Renewables
• Nautilus Marine Cranes
• Piper Valve

Products and services

• Production Platform Systems Integrated engineered systems for fixed and floating production platforms including Tension Leg & SPAR Platforms, FPSOs, Semi-Submersibles, and Fixed Platforms, providing topside and subsea equipment to maximize production and uptime for offshore operators.
• Riser Systems & Conductor Solutions Enabling technologies for state-of-the-art riser systems including drilling riser systems, completion/workover systems, production risers, and advanced tubular connectors, used by drilling contractors and offshore operators worldwide.
• Subsea Pipeline Systems Subsea pipeline systems for shallow water and deepwater applications including connectors, fittings, valves, and repair systems to maintain pipeline integrity and dependable flow assurance.
• Onshore, Marine & Industrial Solutions Engineered solutions for onshore energy, marine, and industrial markets including drilling, completion/workover, and production equipment, work boat equipment, and industrial clutches and brakes.
• OSI Renewables Renewable energy business unit applying offshore oil and gas experience to offshore wind, geothermal, tidal, and wave energy. Products include the FTLP floating wind platform, deepsea mineral riser systems, and motion-compensated gangways.
• RiserTec Engineering Consultancy Independent engineering consultancy specializing in riser, pipeline, mooring, and subsea engineering with combined industry experience of over 100 years, providing engineering design, analysis, software, and turnkey solutions for oil and gas and renewable projects.
• Acute Technological Services (ATS) Welding services with over 20 years of experience offering engineered welding solutions including specialty welding engineering, consulting, developmental welding, and NDT inspection services for both onshore and offshore activities worldwide.
• Montgomery Machine Company (MMC) High-specification precision machining and specialized weld overlay/cladding company serving oil and gas, chemical, medical, and power generation markets for 40 years, providing corrosion-resistant weld overlay with materials including 300 and 400 series stainless steels, duplex stainless steels, and high-nickel alloys.
• Piper Valve (Oil States Piper Valve) Manufacturer of high-pressure, compact-style ball and check valves including Series PB, MST, LC, and DC, used in subsea, offshore topside, and onshore applications with pressure ratings up to API 15000.
• Nautilus Marine Cranes API 2C monogrammed line of marine cranes utilizing slewing bearing technology for fixed and floating structures, available in box boom, lattice boom, and telescopic boom models from 5 tons to 500 tons capacity.
• Low Impact Workover Package (LIWP) Industry-first workover technology package debuted at the SPE/ICoTA European Well Intervention Conference, designed to deliver low-impact well intervention operations for the European market.
• FTLP Floating Wind Platform Patent-pending Fixed Tension Leg Platform (FTLP) for offshore wind with 75% reduced tower weight, a 15MW system capable of 70-150m water depths and wave heights up to 19 meters, designed to lower the cost of floating offshore wind.
• Merlin 15K HPHT Riser System First riser system ISO13628-7 rated for 126C, sour service, and 15,000 psi, enabling exploration of previously untapped high-pressure high-temperature (HPHT) wells.
• Fabrication Services General and structural fabrication services for onshore and offshore oil and gas markets from multiple global locations equipped with latest technology and quality standards.
• Custom Molding Services Elastomer molding services delivered from Lampasas, Texas and Tulsa, Oklahoma facilities for drilling, completion, mining, industrial, pipeline, and commercial markets, including elastomer compound development and metal bonding.
• Inspection, Repair & Maintenance Services Global inspection, repair, and maintenance services covering cranes, winches, valves, FlexJoint products, buoyancy systems, BOP systems, risers, and clutches and brakes for offshore and onshore operators.
• Decommissioning Services Cold-cutting solutions for decommissioning of redundant platforms, subsea structures, and well abandonment, including abrasive water jet cutting, perforating, cementing tools, and wellhead assembly lift tools.
• Rental Equipment Crane and wellhead connector rental services from Houma, Louisiana and UK locations, including LynxGrip connectors, Alligator connectors, test equipment, and risers with third-party certification.

Quantifiable outcome

• Backlog reached highest level in over a decade at $435 million (Q4 2025)
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• SeadrillcoreStrategic or Co-development Partner · 9 July 2025Partnership combining Seadrill's operational knowledge with Oil States' engineering expertise to build a Managed Pressure Drilling (MPD) package delivering game-changing improvements in safety, efficiency, and reliability along with reduction in non-productive time.
• Halliburton CompanycoreStrategic or Co-development Partner · 6 November 2023Strategic collaboration combining Oil States' MPD riser integration joint with Halliburton's control systems, digital platform, and training to provide innovative deepwater managed pressure drilling solutions. The collaboration provides operators and drilling contractors with an effective and flexible MPD product-service combination.
• Barge Master BVsupportingChannel Partner/ Reseller/ Distributor · 8 August 2022OSI Renewables appointed as exclusive distributor of Barge Master Next Generation Gangway in North America. Agreement also grants manufacturing rights for motion-compensated gangways to support offshore wind development.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Halliburton: Largest oilfield services company and a strategic MPD partner of Oil States. Competes indirectly via bundled service offerings and is increasingly integrating equipment and services in deepwater.
• NOV (National Oilwell Varco): Large diversified oilfield equipment OEM with drilling riser, BOP stack, and marine crane offerings. Competes with Oil States on drilling equipment packages but operates at far greater scale across the upstream value chain.

Direct peers

• Trelleborg AB: Supplies elastomer-based offshore products, polymer bearings, and vibration-damping technology analogous to Oil States' FlexJoint elastomer technology and Custom Molding business.
• TechnipFMC: Direct competitor in subsea production systems, risers, and connectors for offshore oil and gas. Both companies supply integrated drilling and production packages to the same IOC and drilling contractor customers.
• Dril-Quip: Direct competitor in subsea wellhead systems, drilling and production connectors, and surface trees — overlapping product lines with Oil States' LynxGrip, Merlin, and wellhead offerings.
• Oceaneering International: Subsea services and equipment provider with overlapping capabilities in riser systems, intervention tooling, and offshore production support; serves the same offshore operator base.
• Forum Energy Technologies: Designs and manufactures subsea and drilling equipment including connectors, marine products, and downhole tools — direct overlap with Oil States' connector and marine equipment portfolio.
• Vallourec: Supplier of premium tubular solutions and subsea connectors, including welded connectors used in riser systems. Comparable to Oil States' subsea pipeline and riser connector product lines.
• Aker Solutions: Subsea production systems and mooring provider with capabilities in risers, umbilicals, and floating wind foundations (ConFloat) — direct overlap with Oil States' mooring and FTLP work.

Emerging players

• Principle Power: Floating offshore wind platform developer (WindFloat) and direct competitor to Oil States' FTLP. Emerging player targeting the same floating wind TAM with utility-scale reference projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/oilstatesind
• YouTubeyoutube.com/channel/UCjyGWz0_6RIGKvzZM2tH-lg
• LinkedInlinkedin.com/company/oil-states-industries

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oil States Industries