RPC INC

RPC INC

Previous company name
RPC ENERGY SERVICES INC
Name change date
7/3/1992
Company Overview
RPC Inc., formerly known as RPC Energy Services Inc., is a holding company that provides oilfield services and equipment to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties, throughout the United States and in selected international markets. The company was incorporated in 1984 and is headquartered in Atlanta, Georgia. It is publicly traded on the New York Stock Exchange under the ticker symbol RES.
The company has operations in the Gulf of Mexico, mid-continent, southwest and Rocky Mountain regions. It offers a wide range of oil and gas services required throughout the life cycle of a well, as well as provides on-going maintenance and emergency services to the oil and gas services industry. Its operating business units include Cudd Energy Services, Patterson Services, and Bronco Oilfield Services, Cudd Pressure Control, Cudd Pumping Services, Patterson Services, Patterson Tubular Services, and Well Control School.
For technical services, the company provides coiled tubing, well control, down-hole tools, wire line, fluid pumping, and casing installation services. In terms of support services, it provides equipment and services for use primarily during drilling including rental of tools and tubular. Other services provided by the company include pressure pumping services, snubbing services (hydraulic workover services), tubing services, nitrogen services, the rental of drill pipe and other specialized oilfield equipment.
Business Summary
RPC, Inc. (RPC) provides a range of specialized oilfield services and equipment primarily to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international markets. The services and equipment provided include pressure pumping services, coiled tubing services, snubbing services (also referred to as hydraulic workover services), nitrogen services, the rental of drill pipe and other specialized oilfield equipment, downhole tool rental services and firefighting and well control. RPC acts as a holding company for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others. RPC’s service lines are aggregated into two segments: Technical Services and Support Services.
Description and history
RPC, Inc. (RPC) provides a range of specialized oilfield services and equipment primarily to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international markets. The services and equipment provided include pressure pumping services, coiled tubing services, snubbing services (also referred to as hydraulic workover services), nitrogen services, the rental of drill pipe and other specialized oilfield equipment, downhole tool rental services and firefighting and well control. RPC acts as a holding company for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others. RPC’s service lines are aggregated into two segments: Technical Services and Support Services.

Technical Services

Technical Services include RPC’s oil and gas service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer’s well. This business segment consists primarily of pressure pumping, snubbing, coiled tubing, nitrogen, well control, downhole tools, wireline and fishing. The principal markets for this business segment include the United States, including the Gulf of Mexico, mid-continent, southwest and Rocky Mountain regions, and contract or project work in selected international locations, including primarily Africa, Canada, China, Eastern Europe, Latin America and the Middle East. Customers include multi-national and independent oil and gas producers, and selected nationally owned oil companies.

Pressure pumping services are provided to customers throughout the Gulf Coast, mid-continent and Rocky Mountain regions of the United States. Principal materials utilized in the pressure pumping business include fracturing proppants, acid and bulk chemical additives. Fracturing services are performed to stimulate production of oil and natural gas by increasing the permeability of a formation. The fracturing process consists of pumping nitrogen or a fluid gel into a cased well at sufficient pressure to fracture the formation at desired depths. Acidizing services are also performed to stimulate production of oil and natural gas, but they are used in wells that have undergone formation damage due to the buildup of various materials that block the formation.

Coiled tubing services involve the injection of coiled tubing into wells to perform various applications and functions for use in well-servicing operations. Coiled tubing is a flexible steel pipe with a diameter of less than four inches manufactured in continuous lengths of thousands of feet and wound or coiled around a reel. Snubbing (also referred to as hydraulic workover services) involves using a hydraulic workover rig that permits an operator to repair damaged casing, production tubing and downhole production equipment in a high-pressure environment.

Nitrogen is used in providing services to oilfield customers and industrial users outside of the oilfield. For the Company’s oilfield customers, nitrogen can be used to clean drilling and production pipe and displace fluids in various drilling applications. It also can be used to create a fire-retardant environment in hazardous blowout situations and as a fracturing medium for its fracturing service line. For non-oilfield industrial users, nitrogen can be used to purge pipelines and create a non-combustible environment. RPC stores and transports nitrogen and has a number of pumping unit configurations that inject nitrogen in its various applications.

Thru Tubing Solutions (TTS) provides services and downhole motors, fishing tools and other specialized downhole tools and processes to operators and service companies in drilling and production operations, including casing perforation at the completion stage of an oil or gas well. Cudd Energy Services specializes in responding to and controlling oil and gas well emergencies, including blowouts and well fires, domestically and internationally.

Wireline is classified into two types of services: slick or braided line and electric line. In both, a spooled wire is unwound and lowered into a well, conveying various types of tools or equipment. Slick or braided line services use a non-conductive line primarily for jarring objects into or out of a well, as in fishing or plug-setting operations. Electric line services lower an electrical conductor line into a well allowing the use of electrically operated tools, such as perforators, bridge plugs and logging tools. Fishing involves the use of specialized tools and procedures to retrieve lost equipment from a well drilling operation and producing wells. It is a service required by oil and gas operators who have lost equipment in a well.

Support Services

Support Services include RPC’s oil and gas service lines that primarily provide equipment for customer use or services to assist customer operations. The equipment and services include drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training services. The principal markets for this segment include the United States, including the Gulf of Mexico, mid-continent and Rocky Mountain regions and project work in selected international locations, including primarily Canada, Latin America and the Middle East. Customers primarily include domestic operations of multi-national and independent oil and gas producers, and selected nationally owned oil companies.

The Company rents specialized equipment for use with onshore and offshore oil and gas well drilling, completion and workover activities. The drilling and subsequent operation of oil and gas wells requires a range of equipment. Patterson Rental Tools offers a range of rental tools, including blowout preventors, diverters, high pressure manifolds and valves, drill pipe, hevi-wate drill pipe, drill collars, tubing, handling tools, production-related rental tools, coflexip hoses and pumps.

Pipe inspection services include Full Body Electromagnetic and Phased Array Ultrasonic inspection of pipe used in oil and gas wells. These services are provided at both the Company’s inspection facilities and at pipe mills in accordance with negotiated sales and/or service contracts. RPC’s customers are major oil companies and steel mills, for which it provides in-house inspection services, inventory management and process control of tubing, casing and drill pipe. Its locations in Channelview, Texas and Morgan City, Louisiana are equipped with large capacity cranes, specially designed forklifts and a computerized inventory system to serve a range of storage and handling services for both the oilfield and non-oilfield customers.

Well Control School provides industry and government accredited training for the oil and gas industry both in the United States and in several international locations. Well Control School provides this training in various formats, including conventional classroom training, interactive computer training, including training delivered over the Internet, and mobile simulator training. Energy Personnel International provides drilling and production engineers, well site supervisors, project management specialists, and workover and completion specialists on a consulting basis to the oil and gas industry to meet customers’ needs for staff engineering and well site management.

The Company competes with Halliburton Company, BJ Services Company and Schlumberger Ltd.

Formerly known as RPC Energy Services Inc.

Business Line
Holding company that provides oilfield services and equipment to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties, throughout the United States and in selected international markets
Subsidiary
BRONCO OILFIELD SERVICES, INC.
Advisor
GRANT THORNTON LLP
IPO date
11/6/1984
US SIC Code
1389
Company Address
Suite 520
2801, Buford Highway
City province or state postal code
30329, ATLANTA, GA
Phone: +1 404 321 2140
Fax: +1 404 321 5483
Country address: UNITED STATES OF AMERICA
Website url: www.rpc.net