Atlanta-based RPC, oil and gas services company, said recently it acquired Pintail Alternative Energy, which does business as Pintail Completions, for $245 million ($170 million cash). The Midland company is a leading provider of oilfield wireline services in the Permian Basin. Pintail operates more than 30 active fleets and maintains relationships with blue chip E&P companies (exploration and production) by delivering service, safety, low emissions and fuel cost efficiencies.
Ben Palmer, president and CEO of RPC, said April 2, “The acquisition of Pintail is a significant step forward in RPC’s strategic evolution as a diversified oilfield services provider. Pintail Completions is recognized as an industry leader in wireline perforation services, complementing our existing completions services line and making wireline a meaningful component of RPC’s portfolio… Pintail’s customer base consists primarily of tier one E&Ps in the Midland and Delaware basins.”