Profile: RPC Inc (RES)
17 May 2019
RPC, Inc. (RPC), incorporated on January 20, 1984, is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The Company's segments are Technical Services and Support Services. The Company acts as a holding company for its operating units: Cudd Energy Services, Thru Tubing Solutions and Patterson Services.
The Company manages its business as either services offered on the well site with equipment and personnel (Technical Services) or services and equipment offered off the well site (Support Services). Its Technical Services include RPC's oil and gas services that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer's well. The services offered under Technical Services are high capital and personnel intensive businesses. Its Support Services include all of the services that provide equipment for customers' use on the well site without RPC personnel and services that are provided in support of customer operations off the well site, such as classroom and computer training, and other consulting services. The equipment and services offered include drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training and consulting services.
The Technical Services segment consists primarily of pressure pumping, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline and fishing. Pressure pumping services are provided to customers throughout Texas, and the mid-continent and Rocky Mountain regions of the United States. Pressure pumping services involve using complex, truck or skid-mounted equipment designed and constructed for each specific pumping service offered. Principal materials utilized in the pressure pumping business include fracturing proppants, acid and bulk chemical additives. Pressure pumping services offered include Fracturing and Acidizing. 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 fluid gel and sometimes nitrogen into a cased well at sufficient pressure to fracture the formation at desired locations and 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.
The Company's Thru Tubing Solutions (TTS) provides services and proprietary 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. The services that TTS provides are especially suited for unconventional drilling and completion activities. Coiled tubing services involve the injection of coiled tubing into wells to perform various applications and functions for use principally in well-servicing operations and to facilitate completion of horizontal wells.
Snubbing 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. There are various uses for nitrogen, an inert, non-combustible element, in providing services to oilfield customers and industrial users outside of the oilfield. For its 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. 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. 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. Wireline services can be an integral part of the plug and abandonment process near the end of the life cycle of a well. 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.
The Support Services segment consists of Rental Tools; Oilfield Pipe Inspection Services, Pipe Management and Pipe Storage; Well Control School, and Energy Personnel International. The Company rents specialized equipment for use with onshore and offshore oil and gas well drilling, completion and workover activities. Patterson Rental Tools offers a range of rental tools, including Blowout Preventors, High Pressure Manifolds and Valves, Hevi-wate Drill Pipe, Tubing, Production Related Rental Tools, Pumps, Diverters, Drill Pipe, Drill Collars, Handling Tools, Coflexip Hoses, and Wear Knot Drill Pipe. Its pipe inspection services include Full body electromagnetic and phased array ultrasonic inspection of pipe used in oil and gas wells. Well Control School provides industry and government accredited training for the oil and gas industry both in the United States and in limited international locations. Well Control School provides 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, Baker Hughes, Schlumberger Ltd., Patterson-UTI Energy, Inc., Superior Energy Services, Weatherford International, Inc., Mammoth Energy Services, Inc. and Keane Group, Inc.
2801 Buford Hwy NE Ste 520
ATLANTA GA 30329-2143
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