2023-07-03 12:58:58 ET
RPC Inc. ( NYSE: RES ) shares rise slightly on Monday after announcing after Friday's market close that it agreed to acquire oilfield cementing services provider Spinnaker Oilwell Services for $79.5M.
Spinnaker operates two facilities in Oklahoma and New Mexico, and maintains 18 full-service cementing spreads.
RPC ( RES ) said the acquisition will significantly expand its cementing business from its presence in south Texas to basins where it already provides other services.
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For further details see:
RPC buys oilfield services company Spinnaker in $79.5M deal