RPC Inc. has acquired Pintail Alternative Energy LLC, a provider of oilfield wireline services in the Permian Basin, for $245 million. Pintail does business as Pintail Completions. (Source: Shutterstock)
RPC Inc. has acquired Pintail Alternative Energy LLC, a provider of oilfield wireline services in the Permian Basin, for $245 million. Pintail does business as Pintail Completions.
"The acquisition of Pintail is a significant step forward in RPC's strategic evolution as a diversified oilfield services provider," RPC CEO Ben Palmer said. “Pintail's customer base consists primarily of Tier 1 E&Ps in the Midland and Delaware basins.”
The acquired teams will keep using the Pintail name, Palmer said. Pintail, which operates more than 30 active fleets in the Permian, brought in $409 million in revenue in 2024.
The purchase price includes $170 million in cash, $25 million of RPC restricted stock consideration and a $50 million three-year note to one of the sellers, RPC said.
RPC provides specialized oilfield services and equipment to E&Ps throughout the U.S. and in some international markets.
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