RPC, Inc
RPC Inc. is a U.S.-based oilfield services holding company headquartered in Atlanta, Georgia. Through operating subsidiaries such as Cudd Energy Services, Cudd Pressure Control, Thru Tubing Solutions, Pintail Completions and Patterson Services, it provides specialized equipment and services for oil and gas exploration, production and well development.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueWell-site services and equipment used directly in drilling, completion and production operations.
Off-site and ancillary services and equipment that support customer operations across basins.
Centralized support, compliance and other non-operating items not allocated to field segments.
Customers
RPC sells primarily to independent oil and natural gas producers and major integrated oil companies. Its customers use the company’s services to drill new wells, complete wells, enhance production and maintain existing wells across U.S. basins and selected international markets.
Buy completion, pressure pumping, coiled tubing and related services to execute drilling and production programs.
Use RPC for specialized field services and equipment across large operating programs and basin activity.
Often represent concentrated accounts that can drive meaningful revenue through recurring field activity.
Use RPC’s specialized services in selected international markets and U.S.-linked operations.
Strategy
RPC’s strategy is built around serving oil and gas customers with a broad mix of field services across multiple U.S. basins, using both well-site technical services and off-site support capabilities. The company emphasizes flexibility, basin coverage and service breadth so it can participate in drilling, completion and maintenance activity as customer capital spending changes.
A wider offering helps RPC capture more of each customer program and reduces dependence on any single service line.
Proximity to customer activity improves utilization, logistics and responsiveness in a cyclical industry.
Oilfield services demand changes quickly with rig counts, commodity prices and completion activity.
Geography
Q1/2026RPC’s core business is concentrated in the United States, especially the southwest, mid-continent, Gulf of America, Rocky Mountain and Appalachian regions. It also serves selected international locations, but those revenues are a small part of the business relative to U.S. operations.
Share of the revenue the company reports by geography.
Risks
RPC is exposed to cyclical oil and gas spending, intense competition in pressure pumping and other service lines, and customer concentration in a small number of large accounts. Its results also depend on digital systems, cybersecurity defenses, and the ability to manage operational complexity across field locations and acquisitions.
- Customer concentrationImpact: HighLikelihood: Medium
A single private E&P customer represented about 15% of 2025 revenue, so lost activity would materially affect results.
Exposure: Technical Services
- Cyclical oil and gas capital spendingImpact: HighLikelihood: Medium
Customers fund drilling and completions from commodity-linked budgets, so lower oil or gas prices can reduce service demand.
Exposure: All operating segments
- Pressure pumping oversupply and pricing pressureImpact: High
Industry efficiency gains and excess capacity can compress utilization and pricing in a core service line.
Exposure: Technical Services
- International and geopolitical exposureImpact: MediumLikelihood: Medium
Selected international markets add exposure to political instability, OPEC actions and regional disruptions.
Exposure: International revenues
- Cybersecurity and digital disruptionImpact: MediumLikelihood: Low
Field operations and corporate systems rely on digital processes that could be interrupted by cyberattacks.
Exposure: Enterprise systems and operations
Accounting
Judgemental itemsRPC tests goodwill at the reporting-unit level using income and market approaches, so changes in forecasts or discount rates can trigger write-downs.
Impact: Affects reported assets and earnings if fair value falls below carrying value
Revenue depends on when equipment and crews are deployed and when jobs are completed, which can create quarter-to-quarter volatility.
Impact: Affects quarterly comparability and segment margins
Customers are concentrated in the energy industry and may be affected similarly by downturns, increasing receivable risk.
Impact: Affects bad debt expense and net receivables
Recent acquisitions can add goodwill and intangible assets and change segment mix and comparability.
Impact: Affects balance sheet valuation and future impairment risk
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Last updated: 24/09/2026