Company History

RPC, Inc. (NYSE: RES) was spun off from Rollins, Inc. (NYSE: ROL) in 1984 following a severe oilfield services cyclical downturn. At that point, the business consisted of the Patterson and Cudd business units, which were combined to form RPC Energy Services (the name was later changed to RPC, Inc.). RPC’s oldest subsidiary, Patterson Services, was founded in the 1940’s and acquired by Rollins in 1973. Cudd Pressure Control was founded in 1977 and acquired by Rollins in 1980.

Until 2001, RPC was a diversified holding company, with businesses in areas from oil services and waste management to recreational powerboats. Starting in 1999, RPC began divesting its non-core businesses. Today, RPC is a pure-play oil and gas services company.

Company History

RPC, Inc. Acquisition History

Since its inception, RPC has completed several small add-on acquisitions and created a successful pressure pumping operation. Now that RPC is a pure-play oil and gas services company, acquisitions have been funded in part with RPC common stock.

We have an ongoing acquisition effort to find suitable acquisition candidates. RPC operates on a decentralized basis, appealing to sellers of businesses that are interested in remaining with their companies after the acquisition. Most recently, we have been focused on expanding our pressure pumping service line geographically and creating scale to allow us to compete more effectively for larger and more profitable jobs. RPC’s managers are mindful of the value that can be destroyed by paying too much for a company, so RPC creates a win-win situation by paying small premiums for acquisitions, but providing the sellers the opportunity to generate additional proceeds based on future financial performance.

  • 1996 International Training Services: Well Control School
  • 1997 Spindletop Tubular Services
  • 1999 Applied Snubbing Technology, Inc.
  • 2000 Freemyer Technical Services, Inc.
  • 2001 Sooner Testing, Inc.
  • 2001 Mathews Energy Services, Inc.
  • 2003 Bronco Oilfield Services
  • 2023 Spinnaker Oilwell Services

Organic Growth

Since 1997, ThruTubing Solutions has been setting the standard in downhole operations, providing specialized downhole services and equipment to customers worldwide. Forged from the experience and expertise of seasoned field professionals and engineering staff, they have become a leading provider of thru tubing products and services in the industry today. With over 30 locations around the globe – all strategically placed in major shale plays – they can provide the specialized resources needed for downhole projects done right.

Growth Strategies

RPC’s primary objective is to generate attractive long-term returns on investment by conservatively investing capital, focusing on strong execution, and generating strong cash flow. We make strategic investments and pursue opportunities designed to grow our market share, expand our product offerings, and improve the profitability of existing businesses to drive long-term value creation. Growth strategies are focused on selected customers and markets where we see opportunities for higher growth, customer and market penetration, or enhanced returns achieved through consolidations or through providing proprietary value-added products and services. RPC intends to focus on specific market segments in which it believes that it has a competitive advantage and on customers who have a long-term need for our services in the markets in which we operate.