RPC, Inc. (NYSE:RES) Q3 2022 Earnings Conference Call October 26, 2022 9:00 AM ET Company Participants Jim Landers – Vice President-Corporate Services Ben Palmer – President and Chief Executive Officer Mike Schmit – Chief Financial Officer Conference Call Participants Don Crist – Johnson Rice John Daniel – Daniel Energy Partners Simon Wong – Gabelli Andrew Pelisek – Millennium Joel Etzler – Coeli Energy Operator Good morning. And thank you for joining us for RPC, Inc.’s Third Quarter 2022 Financial Earnings ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 Commission File No. 1-8726 RPC, INC. (Exact name of registrant as specified in its charter) Delaware 58-1550825 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, Georgia 30329 (Address ...

RPC, Inc. (NYSE:RES) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET Company Participants James Landers - VP, Corporate Finance Ben Palmer - CEO, President & Director Michael Schmit - CFO & Corporate Secretary Conference Call Participants Stephen Gengaro - Stifel, Nicolaus & Company John Daniel - Daniel Energy Partners Donald Crist - Johnson Rice & Company Joel Etzler - Coeli Energy Operator Good morning, and thank you for joining us for RPC, Inc.'s Second Quarter 2020 Financial Earnings Conferenc ...

| --- | --- | |-------------------------------------------|-------| | | | | | | | RPC, Inc. | | | | | | Second Quarter 2022 Financial Summary and | | | Corporate Overview | | | July 27, 2022 | | | | | FORWARD LOOKING STATEMENTS Certain statements and information included in this discussion constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including all statements that look forward in time or express management's beliefs, expectations or hopes ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 Commission File No. 1-8726 RPC, INC. (Exact name of registrant as specified in its charter) Delaware 58-1550825 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, Georgia 30329 (Address ...

RPC, Inc. (NYSE:RES) Q1 2022 Earnings Conference Call April 27, 2022 9:00 AM ET Company Participants James Landers - VP, Corporate Finance Richard Hubbell - CEO, President & Director Ben Palmer - VP, CFO & Corporate Secretary Conference Call Participants John Daniel - Daniel Energy Operator Good morning, and thank you for joining us for RPC, Inc.'s First Quarter 2022 Financial Earnings Conference Call. Today's call will be hosted by Rick Hubbell, President and CEO; and Ben Palmer, Chief Financial Officer. A ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 Commission File No. 1-8726 RPC, INC. Delaware (State of Incorporation) 58-1550825 (I.R.S. Employer Identification No.) 2801 BUFORD HIGHWAY NE, SUITE 300 ATLANTA, GEORGIA 30329 (404) 321-2140 | Secu ...

Financial Data and Key Metrics Changes - For Q4 2021, revenues increased to $268.3 million from $148.6 million in Q4 2020, reflecting higher customer activity and improved pricing [10] - Operating profit for Q4 was $20.1 million compared to an adjusted operating loss of $11.3 million in the same quarter of the prior year [10] - EBITDA for Q4 was $39.4 million compared to adjusted EBITDA of $7.8 million in Q4 2020 [11] - Diluted earnings per share for Q4 were $0.06 compared to an adjusted loss per share of $0.03 in the same quarter of the prior year [11] - Cost of revenues was $200.6 million or 74.8% of revenues, down from 79.3% in Q4 2020 [12] Business Line Data and Key Metrics Changes - Technical Services segment revenues for Q4 were $254.4 million, an 83.1% increase from $139 million in Q4 2020, with an operating profit of $20.5 million compared to an operating loss of $11.3 million [14] - Support Services segment revenues for Q4 were $13.8 million, a 43% increase from $9.7 million in Q4 2020, with an operating loss of $373,000 compared to a loss of $2.6 million in the prior year [15] Market Data and Key Metrics Changes - The average U.S. domestic rig count and oil prices both increased over 80% compared to Q4 2020, contributing to improved industry conditions [7] Company Strategy and Development Direction - The company plans to reactivate idle pressure pumping equipment as market pricing and customer demand improve, with a focus on upgrading equipment fleets [22] - Approximately two-thirds of the active horizontal pressure pumping fleet is ESG friendly, indicating a commitment to sustainability [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment and financial results, expecting continued improvements in 2022 despite potential supply chain and personnel challenges [28][59] - The company is focused on generating sufficient cash flow and may consider reinitiating dividends or stock buybacks in the future [70] Other Important Information - Capital expenditures for Q4 were $22.7 million, with full-year 2021 capital expenditures totaling $67.6 million; estimated capital expenditures for 2022 are approximately $125 million [20] Q&A Session Summary Question: Can you speak about pressure pumping pricing? - Management noted net pricing improvements and increased revenue to cover rising costs, with expectations for continued pricing traction [26][27] Question: Is any of the 2022 CapEx targeted towards reactivation of additional fleet? - Management indicated that the first half of 2022 would likely maintain a constant fleet count, assessing the activation of additional fleets based on demand [30] Question: What is the breakdown of product lines? - For Q4 2021, pressure pumping accounted for 46.8% of revenues, with other segments like Thru Tubing Solutions at 26.0% and Coiled Tubing at 10.1% [45] Question: Have there been disruptions due to sand delivery issues? - Management confirmed no job delays due to sand delivery disruptions, although there are risks associated with logistics [51] Question: What is the current contract status and pricing environment? - The majority of fleets are on spot work, with a mix of longer-term contracts, and management is pleased with the current pricing mix [67][68]

Table of Contents Commission File No. 1-8726 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 RPC, INC. (Exact name of registrant as specified in its charter) Delaware 58-1550825 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, Georgia 30329 (Add ...

Financial Data and Key Metrics Changes - Revenues for Q3 2021 increased to $225.3 million from $116.6 million in Q3 2020, primarily due to higher activity levels and improved pricing [11] - Operating profit for Q3 2021 was $8 million compared to an operating loss of $31.8 million in the same quarter of the prior year [11] - EBITDA for Q3 2021 was $26.5 million, a significant improvement from negative $12.3 million in Q3 2020 [12] - Diluted earnings per share for Q3 2021 were $0.02, compared to a loss of $0.08 per share in the same quarter of the prior year [12] - Cost of revenues was $170.6 million or 75.7% of revenues in Q3 2021, down from 86.5% in Q3 2020 [13] Business Line Data and Key Metrics Changes - Technical Services segment revenues for Q3 2021 were $211.8 million, up from $109.3 million in the same quarter last year, with an operating profit of $8.3 million compared to a $24.9 million operating loss in Q3 2020 [16] - Support Services segment revenues increased to $13.5 million from $7.3 million in the same quarter last year, with an operating loss of $55,000 compared to a $3.8 million loss in Q3 2020 [17] Market Data and Key Metrics Changes - RPC's revenues increased 19.4% sequentially from $188.8 million in the prior quarter to $225.3 million in Q3 2021, driven by activity increases across all service lines [18] - Cost of revenues increased 17% sequentially to $170.6 million from $145.8 million in the prior quarter, with a slight decrease in the cost of revenues as a percentage of revenues from 77.2% to 75.7% [19] Company Strategy and Development Direction - The company is focusing on enhancing its pressure pumping fleet and has added a Tier 4 dual fuel fleet, aiming to optimize fuel burn and minimize emissions [23] - RPC is strategically positioning itself to capitalize on the improving market conditions and is optimistic about the fourth quarter and 2022 despite potential supply chain constraints [27][28] Management's Comments on Operating Environment and Future Outlook - Management noted that exploration and production companies are responding positively to higher commodity prices, leading to increased demand for RPC's services [7] - The company is monitoring challenges such as supply chain issues and cost increases but remains optimistic about its financial strength and competitive position [29] Other Important Information - Capital expenditures for Q3 2021 were $19 million, with an estimated total of approximately $65 million for the full year, focusing on maintenance and growth opportunities [25] - RPC ended Q3 2021 with a cash balance of approximately $81 million and remains debt-free [29] Q&A Session Summary Question: Insights on pressure pumping side and 2022 outlook - Management is seeing improvements in pressure pumping and is in the bidding season, hoping for pricing improvements and strong activity levels in 2022 [31][32] Question: Utilization and pricing trends for Tier 4 DGB fleet - There is a bifurcation in customer preferences for ESG-friendly equipment, and both older and newer equipment will have a market [33] Question: Product line revenue breakdown - Pressure pumping accounted for 42.8% of consolidated revenue, followed by downhole tools at 27.5%, and coiled tubing at 11.9% [34] Question: Plans for additional Tier 4 fleets - The company expects to have 8 active fleets in Q4 but has no current plans for additional orders [37][38] Question: Market dynamics and competitive bidding - There are fewer companies bidding, but idle equipment remains, keeping the competitive nature of pricing intact [41] Question: Leasing arrangement for the new fleet - The balloon payment for the new fleet is approximately $17 million after a year, and the leasing arrangement is not expected to become a trend in the industry [44] Question: Pricing negotiations and contract renewals - Pricing increases are being negotiated for both immediate and upcoming contracts, with expectations for more adjustments in January [49] Question: Incremental margins outlook for 2022 - Management anticipates that incremental margins will improve in 2022 compared to 2021, but cost increases may impact expectations [51] Question: Investment justification for new assets - There is currently no clear vision for returns on new investments, but the company is working on a roadmap to establish targets [52][55] Question: Upgrades to Tier 4 DGB - Upgrades to Tier 4 DGB are being evaluated as part of the company's roadmap, with potential for future investments [60]