In the Matter of Oil States Int’l, Inc. (2007)

• Case Name
• In the Matter of Oil States Int’l, Inc. (2007)

• Date Filed
• 04/27/2006

• Enforcement Agency
• SEC

• Countries
• Venezuela

• Foreign Official
• Employees of Petróleos de Venezuela, S.A. (“PDVSA”), an energy company owned by the government of Venezuela.

• Date of Conduct
• 2003 to 2004

• Nature of Business
• Hydraulic Well Control, LLC (“Hydraulic Well “) operates specially designed rigs and provides well site services to oil and gas producers in Venezuela and other countries, and is headquartered in Houma, Louisiana.  It is a wholly-owned subsidiary of Oil States International (“Oil States”), a Delaware corporation whose shares trade on the NYSE, and it contributed approximately 1% of Oil States’s consolidated revenues during the relevant period.  

• Influence to be Obtained
• Payments nominally made for consulting services were actually made as “kickbacks” to government employees to avoid stoppage or delay of the company’s work.

• Enforcement
• In April 2006, Oil States and the SEC reached a settlement under which the SEC issued a cease‑and‑desist order from future violations of the books and records and internal controls provisions of the FCPA, without the company admitting or denying the findings in the order.

• Amount of the Value
• Approximately $348,350.

• Amount of Business Related to Payment
• Unspecified

• Intermediary
• Consultant and employees of the subsidiary, HWC.

• Citizenship of Parent Entity
• United States

• Compliance Monitor
• No

• Reporting Requirements
• No

• Case is Pending?
• No

Oil States Int’l, Inc.

• Citation
• In the Matter of Oil States Int’l, Inc., Admin. Proc. File No. 3-12280 (Apr. 27, 2006).

• Date Filed
• 04/27/2006

• Filed Under Seal
• No

• FCPA Statutory Provision
• • Books-and-Records
  • Internal Controls

• Other Statutory Provision
• None

• Disposition
• Cease-and-Desist Order

• Defendant Jurisdictional Basis
• Issuer

• Defendant's Citizenship
• United States