Business
RPC, Inc. Expands its Permian Operations with Acquisition of Pintail Completions, a Leading Wireline Completions Services Company
RPC, Inc. (NYSE: RES) ("RPC") announced the acquisition, effective April 1, 2025, of Pintail Alternative Energy, L.L.C. ("Pintail"), which does business under the name "Pintail Completions", for approximately $245 million, subject to customary post-closing adjustments. Pintail is headquartered in Midland, Texas and is a leading provider of oilfield wireline services in the Permian basin.
About this update from Rpc, Inc.
[{"type":"image","alt":"(PRNewsfoto/RPC, Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/RPC, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/prnewswire.com/d85614d380e8b30c71143a42fa30bc2d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/wZQsHPdKrJEztvdLvENUZQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d85614d380e8b30c71143a42fa30bc2d","width":400,"height":300}},"href":"https://mma.prnewswire.com/media/550101/RPCBlue_Logo_v4.html","hrefExternal":true,"rel":"nofollow","lazy":false},{"type":"text","content":"ATLANTA, April 2, 2025 /PRNewswire/ -- RPC, Inc. (NYSE: RES) ("RPC") announced the acquisition, effective April 1, 2025, of Pintail Alternative Energy, L.L.C. ("Pintail"), which does business under the name "Pintail Completions", for approximately $245 million, subject to customary post-closing adjustments. Pintail is headquartered in Midland, Texas and is a leading provider of oilfield wireline services in the Permian basin.","length":459,"tagName":"p"},{"type":"text","content":"Strategic Highlights","length":20,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Strategic acquisition of wireline completions services market leader in Permian Basin","length":85,"tagName":"p"}]},{"val":[{"type":"text","content":"Aligns with RPC's focus on service lines that command strong margins and demonstrate high free cash flow conversion characteristics","length":135,"tagName":"p"}]},{"val":[{"type":"text","content":"Builds on RPC's diversified oilfield services platform with geographic concentration in the most active oil producing region in the U.S. land market","length":152,"tagName":"p"}]},{"val":[{"type":"text","content":"Pintail operates more than 30 active fleets, and its conventional and electric wireline units are among the newest in the industry","length":130,"tagName":"p"}]},{"val":[{"type":"text","content":"Pintail maintains trusted relationships with blue chip E&Ps by delivering service excellence, safety, low emissions and fuel cost efficiencies","length":146,"tagName":"p"}]},{"val":[{"type":"text","content":"Pintail's full year calendar 2024 revenues were approximately $409 million","length":78,"tagName":"p"}]},{"val":[{"type":"text","c...