Exhibit 99.1

Complete Production Services, Inc. Reports Second Quarter 2011
Earnings of $0.69 Per Diluted Share

Houston—(Business Wire)—July 22, 2011—Complete Production Services, Inc. (NYSE: CPX) today reported second quarter revenue of $552.0 million, an increase of 11% over the first quarter of 2011, Adjusted EBITDA (as defined below) of $149.6 million, an increase of 19% over the first quarter of 2011, operating income of $100.1 million and net income of $54.5 million, or $0.69 per diluted share.

Revenue for the Completion and Production Services segment during the second quarter of 2011 was $491.9 million, an increase of $54.8 million over the prior quarter. Increasing activity in service intensive oil and liquid-rich plays and the deployment of new assets led to growth in all major service lines and more than offset the seasonal impact of the Canadian break-up and other weather related challenges. Adjusted EBITDA for the segment was $144.9 million in the second quarter of 2011, up $23.4 million versus the first quarter of 2011. Adjusted EBITDA margins increased to 29.5% from 27.8% in the first quarter of 2011.

Drilling Services segment revenue was $52.2 million during the second quarter of 2011, an increase of $2.1 million over the first quarter of 2011. Adjusted EBITDA for the segment increased $1.4 million to $13.9 million during the second quarter of 2011.

Compared to the second quarter of 2010, consolidated revenue increased $191.7 million, or 53%, Adjusted EBITDA increased $64.3 million, operating income increased $60.3 million, and net income increased by $38.8 million, or $0.49 per diluted share.

“We delivered another quarter of solid financial performance,” commented Joe Winkler, Chairman and CEO. “In addition to achieving record revenue and EBITDA while overcoming the impact of challenging weather conditions in certain of our operating areas, during the second quarter we:

	•		Completed a $15.6 million acquisition of a hydraulic snubbing and production testing business with operations in the Marcellus and Eagle Ford Shales;
	•		Invested a total of $93.4 million in capital expenditures, which included the deployment of four large-diameter extended-reach coiled tubing spreads; and
	•		Entered into a new five-year $300 million credit facility.”

“Additionally, in early July we successfully deployed our third frac spread in the Eagle Ford Shale and we divested our products business in Southeast Asia for $19.3 million.”

“We continue to invest in our business and execute key initiatives which improve our competitive position and our focus on critical completion and production services within the most active resource plays of North America. The actions we are taking and our position in the markets we serve will allow us to capitalize on activity levels that we believe will remain strong through 2012,” concluded Mr. Winkler.

Complete Production Services, Inc. is a leading oilfield service provider focused on the completion and production phases of oil and gas wells. The company has established a significant presence in unconventional oil and gas plays in North America that it believes have the highest potential for long-term growth.

Complete will hold a conference call to discuss second quarter 2011 results on Friday, July 22, 2011 at 11:00 a.m. Eastern Time. To participate in the live conference call, dial (888) 268-4176 at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 51812750. The conference call will be available for replay beginning at 2:00 p.m. Eastern Time on July 22, 2011, and will be available until July 29, 2011. To access the conference call replay, please call (888) 286-8010 and use the passcode: 28739479. The call is also being webcast and can be accessed at our website at www.completeproduction.com.

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risk and uncertainties. These forward-looking statements include statements regarding future market conditions and the company’s future success. Such statements are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, risks associated with the general nature of the oilfield service industry, the uncertainty of near-term and long-term activity levels, general economic conditions in the United States and globally, and other risks described in the company’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release.

Management evaluates the performance of Complete’s operating segments using non-GAAP financial measures, including Adjusted EBITDA. Adjusted EBITDA is calculated as net income from continuing operations before net interest expense, taxes, depreciation, amortization, impairment charges and non-controlling interest. Adjusted EBITDA is not a substitute for GAAP measures of earnings and cash flow. Adjusted EBITDA is used in this press release because our management considers this measure to be an important supplemental measure of performance and believes it is used by securities analysts, investors and other interested parties in the evaluation of companies in our industry.

For more information, please contact:

Canaan Factor
281-372-2300

Complete Production Services, Inc.
Consolidated Statements of Operations
For the Quarters Ended June 30, 2011 and 2010 and March 31, 2011
And the Six Months Ended June 30, 2011 and 2010
(unaudited, in thousands, except share and per share data)

		Quarter Ended												Six Months Ended
		June 30,								March 31,				June 30,
		2011				2010				2011				2011				2010
		(unaudited)				(unaudited)				(unaudited)				(unaudited)				(unaudited)
Revenue:
Services		$	544,103			$	350,905			$	487,239			$	1,031,342			$	652,297
Products			7,864				9,340				7,978				15,842				17,652
			551,967				360,245				495,217				1,047,184				669,949
Cost of services			346,645				223,564				314,522				661,167				430,384
Cost of products			5,335				7,323				5,953				11,288				13,447
General and administrative expense			50,380				44,017				49,351				99,731				84,869
Depreciation and amortization			49,465				45,472				49,148				98,613				90,791
			451,825				320,376				418,974				870,799				619,491
Income before interest and taxes			100,142				39,869				76,243				176,385				50,458
Interest expense			13,681				14,760				14,143				27,824				29,501
Interest income			(132	)			(95	)			(95	)			(227	)			(143	)
Income before taxes			86,593				25,204				62,195				148,788				21,100
Tax provision			32,088				9,533				23,261				55,349				8,191
Net income		$	54,505			$	15,671			$	38,934			$	93,439			$	12,909
Basic earnings per share:		$	0.70			$	0.21			$	0.51			$	1.21			$	0.17
Diluted earnings per share:		$	0.69			$	0.20			$	0.50			$	1.18			$	0.17
Weighted average shares outstanding:
Basic			77,777				76,036				76,942				77,362				75,869
Diluted			79,187				77,318				78,599				78,895				77,194

Complete Production Services, Inc.
Condensed Consolidated Balance Sheets
As of June 30, 2011 and December 31, 2010
(in thousands)

		June 30,				December 31,
		2011				2010
		(unaudited)				(unaudited)
Assets:
Cash		$	170,554			$	126,681
Other current assets			492,038				425,229
Property, plant and equipment, net			1,001,810				956,028
Goodwill			254,996				250,533
Restricted cash (1)			17,000				17,000
Other long-term assets			29,267				25,105
Total assets			1,965,665				1,800,576
Liabilities and stockholders’ equity:
Current liabilities			153,533				148,404
Long-term debt			650,000				650,000
Long-term deferred tax liabilities			234,451				190,422
Other long-term liabilities			6,150				5,916
Total liabilities			1,044,134				994,742
Common stock			778				765
Treasury stock			(7,346	)			(1,765	)
Additional paid-in capital			684,174				657,992
Retained earnings			219,604				126,165
Cumulative translation adjustment			24,321				22,677
Total stockholders’ equity			921,531				805,834
Total liabilities and stockholders’ equity		$	1,965,665			$	1,800,576

Complete Production Services, Inc.
Consolidated Segment Information
For the Quarters Ended June 30, 2011 and 2010, and March 31, 2011
And Six Months Ended June 30, 2011 and 2010
(in thousands, except percentages)

		Quarter Ended
		June 30,								March 31,
		2011				2010				2011
		(unaudited)				(unaudited)				(unaudited)
Revenue:
Completion and production services		$	491,881			$	310,460			$	437,087
Drilling services			52,222				40,445				50,152
Products			7,864				9,340				7,978
Total revenues		$	551,967			$	360,245			$	495,217
Adjusted EBITDA: (1)
Completion and production services		$	144,931			$	84,748			$	121,514
Drilling services			13,888				8,663				12,489
Products			1,863				1,250				1,215
Corporate and other			(11,075	)			(9,320	)			(9,827	)
Total		$	149,607			$	85,341			$	125,391
Adjusted EBITDA as a % of Revenue:
Completion and production services			29.5	%			27.3	%			27.8	%
Drilling services			26.6	%			21.4	%			24.9	%
Products			23.7	%			13.4	%			15.2	%
Total			27.1	%			23.7	%			25.3	%

		Six Months Ended
		June 30,				June 30,
		2011				2010
		(unaudited)				(unaudited)
Revenue:
Completion and production services		$	928,968			$	576,748
Drilling services			102,374				75,549
Products			15,842				17,652
		$	1,047,184			$	669,949
Adjusted EBITDA: (1)
Completion and production services		$	266,445			$	142,504
Drilling services			26,376				14,082
Products			3,077				2,812
Corporate and other			(20,900	)			(18,149	)
		$	274,998			$	141,249
Adjusted EBITDA as a % of Revenue:
Completion and production services			28.7	%			24.7	%
Drilling services			25.8	%			18.6	%
Products			19.4	%			15.9	%
Total			26.3	%			21.1	%

Complete Production Services, Inc.
Reconciliation of Adjusted EBITDA to Net Income (Loss)
For the Quarters Ended June 30, 2011 and 2010, and March 31, 2011
And the Six Months Ended June 30, 2011 and 2010
(unaudited, in thousands)

		Completion
		& Production				Drilling								Corporate &
		Services				Services				Products				Other				Total
Quarter Ended June 30, 2011:
Adjusted EBITDA (1)		$	144,931			$	13,888			$	1,863			$	(11,075	)		$	149,607
Depreciation & amortization			43,585				4,790				486				604				49,465
Operating income		$	101,346			$	9,098			$	1,377			$	(11,679	)		$	100,142
Interest expense																			13,681
Interest income																			(132	)
Income taxes																			32,088
Net income																		$	54,505
Quarter Ended June 30, 2010:
Adjusted EBITDA (1)		$	84,748			$	8,663			$	1,250			$	(9,320	)		$	85,341
Depreciation & amortization			39,770				4,644				561				497				45,472
Operating income		$	44,978			$	4,019			$	689			$	(9,817	)		$	39,869
Interest expense																			14,760
Interest income																			(95	)
Income taxes																			9,533
Net income																		$	15,671
Quarter Ended March 31, 2011:
Adjusted EBITDA (1)		$	121,514			$	12,489			$	1,215			$	(9,827	)		$	125,391
Depreciation & amortization			43,257				4,749				542				600				49,148
Operating income		$	78,257			$	7,740			$	673			$	(10,427	)		$	76,243
Interest expense																			14,143
Interest income																			(95	)
Income taxes																			23,261
Net income																		$	38,934
Six Months Ended June 30, 2011:
Adjusted EBITDA (1)		$	266,445			$	26,376			$	3,077			$	(20,900	)		$	274,998
Depreciation & amortization			86,842				9,539				1,028				1,204				98,613
Operating income		$	179,603			$	16,837			$	2,049			$	(22,104	)		$	176,385
Interest expense																			27,824
Interest income																			(227	)
Income taxes																			55,349
Net income																		$	93,439
Six Months Ended June 30, 2010:
Adjusted EBITDA (1)		$	142,504			$	14,082			$	2,812			$	(18,149	)		$	141,249
Depreciation & amortization			79,563				9,102				1,137				989				90,791
Operating income		$	62,941			$	4,980			$	1,675			$	(19,138	)		$	50,458
Interest expense																			29,501
Interest income																			(143	)
Income taxes																			8,191
Net income																		$	12,909