Oil States International [Part 1]: All Systems Go For Spinoff

Oil States International, Inc. (NYSE:OIS) is planning to spin off its accommodation business into a standalone company later this year, a special situation that warrants extra attention due to the highly defensive nature of the accommodation business. Oil States' accommodation business provides an essential service to the oil industry, feeding, housing and providing sanitation facilities for employees in remote regions, a service without which, the industry would find it hard to operate.

Oil States International, Inc. (NYSE:OIS) is a leading provider of accommodation for the oil business, with operations within Australia, Canada and the US shale plays. During 2013 this accommodation business contributed $1.1 billion to Oil States' top line...