Oil States International is a global manufacturer of engineered capital equipment and consumable products serving the energy, military, and industrial sectors from facilities worldwide. The company operates three business segments: Offshore Manufactured Products, which provides technology-driven equipment such as connectors, risers, valves, and subsea systems for offshore oil and gas production and emerging energy markets; Completion and Production Services, which supplies equipment and services for establishing and maintaining well flow; and Downhole Technologies, which designs perforation systems and downhole tools for well completion and intervention operations. Revenue is cyclically dependent on activity levels in the oil and natural gas industry, particularly influenced by commodity prices and customer capital spending decisions.