TEXT-S&P release on Complete Production Services

(The following statement was released by the rating agency)

March 10 - Standard & Poor's Ratings Services said today that it raised the
corporate credit rating on oilfield services company Complete Production
Services CPX.N to 'BB-' from 'B+'. At the same time, we raised the rating on
Complete's $650 million 8% senior unsecured notes to 'B+' from 'B'. The outlook
is stable.

"The upgrade reflects Complete's growing completion and production
segment," said Standard & Poor's credit analyst Aniki Saha-Yannopoulos. "Also,
the company's geographic markets are expanding, and we expect that it will
continue to improve its business and operational diversity while maintaining a
strong financial profile."

As of Dec. 31, 2007, the Houston-based company had $887 million of debt,
adjusted for operating-lease expenses.

The ratings on Complete reflect the company's weak business position as
an oilfield services provider with an aggressive growth strategy in this
historically cyclical, capital-intensive, and highly competitive industry.
Slightly mitigating these weaknesses are the company's diversified product
lines in the currently favorable well-servicing environment, and its improved
financial profile.

Complete ratings information is available to subscribers of
RatingsDirect, the real-time Web-based source for Standard & Poor's credit
ratings, research, and risk analysis, at www.ratingsdirect.com. All ratings
affected by this rating action can be found on Standard & Poor's public Web
site at www.standardandpoors.com; select your preferred country or region,
then Ratings in the left navigation bar, followed by Credit Ratings Search.
(New York Ratings Team)