RPC Expands Permian Reach With $245M Pintail Acquisition

Group 1: Acquisition Overview - RPC Inc. has acquired Pintail Completions for approximately $245 million, enhancing its presence in the Permian Basin [1][6] - The acquisition is structured with $170 million in cash, $25 million in restricted RPC stock, and a $50 million three-year note [6] Group 2: Strategic Alignment - Pintail Completions is a leading wireline service provider with over 30 active fleets, aligning with RPC's strategy of focusing on high-margin, cash-generating assets [2][3] - The acquisition is expected to enhance RPC's standing in the Midland and Delaware basins, which are the most prolific oil-producing regions in the U.S. [2][3] Group 3: Financial Impact - Pintail generated approximately $409 million in revenues in 2024, indicating a strong market position [3] - The acquisition is anticipated to be accretive to RPC's earnings per share and free cash flow in 2025 [3][4] Group 4: Operational Synergy - Pintail's advanced equipment and reputation for service excellence are expected to create operational synergies for RPC [3][4] - The acquisition allows Pintail to maintain operational independence while benefiting from RPC's platform [5]