RPC, Inc. Acquires Spinnaker Oilwell Services, LLC
June 30, 2023
RPC, Inc. (NYSE: RES) acquired Spinnaker Oilwell Services, LLC, a provider of oilfield cementing services headquartered in Oklahoma City, effective July 1, 2023, for $79.5 million in total consideration. The purchase expands RPC's cementing capabilities and geographic footprint into the Permian and Mid-Continent basins, where Spinnaker operates two facilities and 18 full-service cementing spreads.
- Buyers
- RPC, Inc.
- Targets
- Spinnaker Oilwell Services, LLC
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Transaction Type
- Buyout
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