Tranche Update on RPC, Inc.'s Equity Buyback Plan announced on March 9, 1998.
January 25, 2024 at 06:45 am EST
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From October 1, 2023 to December 31, 2023, the company has repurchased 1,200,000 shares, representing 0.56% for $8.6 million. With this, the company has completed the repurchase of 35,798,996 shares, representing 16.13% for $506.59 million under the buyback announced on March 9, 1998.
RPC, Inc. acts as a holding company for several oilfield services companies that include Cudd Energy Services, Cudd Pressure Control, Thru Tubing Solutions and Patterson Services. It provides a range of oilfield services and equipment primarily to independent and oil and gas companies, which is engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. Its segments include Technical Services and Support Services. Technical Services segment includes pressure pumping, downhole tools services, coiled tubing, snubbing and other oilfield related services. Support Services segment includes renting tools to its customers for use with onshore and offshore oil and gas well drilling, completion and workover activities. It is also engaged in oilfield cementing services in the Permian and Mid-Continent basins.
RPC, INC. 
