Corporate Profile for RPC, Inc. dated December 13, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: December 13, 2002
Company Name: RPC, Inc.
Address: 2170 Piedmont Rd, NE
Atlanta, GA 30324
Main Telephone
Number: 404/321-2140
Internet Home
Page Address
(URL) www.rpc.net
Chief Executive
Officer: Richard A. Hubbell
Chief Financial
Officer: Ben M. Palmer
Investor Relations
Contact: James C. Landers
Business number: 404/321-2162
E-mail address: jlanders@rpc.net
Public Relations
Contact: Dawn S. Wightman
Business number: 404/321-2172
E-mail address: dwightman@rpc.net
Industry: Oil and Gas Services
Trading Symbol/
Exchange: NYSE: RES
Company description: RPC (Remote Procedure Call) A programming interface that allows one program to use the services of another program in a remote machine. The calling program sends a message and data to the remote program, which is executed, and results are passed back to the calling INCORPORATED is an international oil and gas services company with various high-margin service lines that is well positioned to take advantage of high levels of exploration and production activities. RPC also provides on-going maintenance and emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' . The company's capital position also allows it to pursue attractive growth opportunities. RPC reports its financial results using a technical services segment and a support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services segment. Technical Services utilizes people and equipment to perform value-added maintenance, production and completion services directly to a customer's well. Examples of service lines that are reported in this segment are: Pressure pumping, Nitrogen, and Coiled Tubing Coiled tubing refers to metal piping, normally 1" to 2" in diameter, used for interventions in oil and gas wells, which comes spooled on a large drum. The main benefits over wireline are the ability to pump chemicals through the coil and the ability to push it into hole rather than . Support Services primarily provides equipment for customer use or services to assist customer operations. Examples of service lines that are reported under this segment are liftboats and rental tools. RPC's Patterson Tubular tubular /tu·bu·lar/ (too´bu-lar) 1. shaped like a tube. 2. of or pertaining to a tubule. tubular 1. pertaining to renal tubules. 2. pertaining to fallopian tube. Services, Patterson Services, Thru-Tubing Solutions and Cudd Pressure Control (Engineering group) divisions are already ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. certified See certification. , and RPC is continuing that process for the rest of its operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . RPC has been publicly traded since 1984, and has been a pure play oilfield service company since February of 2001. RPC earned record revenues in 2001 of $264 M, up from $184 in 2000 and $108 M in 1999. RPC's net income during these years was $27 M, $16 M, and $(1) M respectively. The oil and gas industry has been in a downturn during 2002, so revenue for this year will be down compared to 2001. RPC's stock price peaked on the last day of 2001, at $17. One year later, it is close to $12; the result of one year of operating in a very difficult environment. RPC's two main operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Cudd Pressure Control and Patterson Services, have been operating for more than 25 years. Since its inception, RPC has negotiated numerous, small add-on acquisitions and created a successful pressure pumping operation. |
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