RPC Reveals Acquisition Of Pintail Alternative Energy, Which Does Business Under Name Pintail Completions, For $245M
Benzinga Newsdesk 1 year ago
M&ANews
Pintail is headquartered in Midland, Texas and is a provider of oilfield wireline services in the Permian basin.Acquisition is expected to be accretive to RPC's 2025 earnings per share and operating and free cash flow
Pintail is headquartered in Midland, Texas and is a provider of oilfield wireline services in the Permian basin.
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).
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.