FINANCIAL ADVISOR
Pintail Alternative Energy, L.L.C.
M&A Advisory
Has Been Acquired By
Transaction Details
On April 2, 2025, RPC, Inc. (NYSE: RES) (“RPC”) announced the acquisition, effective April 1, 2025, of Pintail Alternative Energy, L.L.C. ("Pintail"), which does business under the name "Pintail Completions", for approximately $245 million, subject to customary post-closing adjustments.
- Consideration was comprised of a combination of approximately $170 million cash-on-hand, $25 million of RPC restricted stock consideration and a $50 million three-year note to one of the sellers.
- Acquisition is expected to be accretive to RPC's 2025 earnings per share and operating and free cash flow (operating cash flow less capital expenditures).
About the company
Pintail Alternative Energy, L.L.C.
Pintail is headquartered in Midland, Texas and is a leading provider of oilfield wireline services in the Permian basin. Pintail operates more than 30 active fleets, and its conventional and electric wireline units are among the newest in the industry. Pintail maintains trusted relationships with blue-chip E&Ps by delivering service excellence, safety, low emissions and fuel cost efficiencies.
RPC, Inc.
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.
Sources: RPC Press Release
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