Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
RPC, Inc. is a United States–based oilfield services company that provides a range of equipment-based and technology-driven services to the oil and natural gas exploration and production industry. The company primarily operates within the energy services and equipment sector, supporting upstream operators throughout the drilling, completion, and production lifecycle. Its revenues are largely driven by demand from onshore oil and gas activity, particularly in unconventional shale basins.
The company’s core offerings include pressure pumping, oilfield rental tools, drill pipe inspection, coiled tubing, and nitrogen services, positioning RPC as a diversified service provider rather than a single-line contractor. RPC historically differentiated itself through a decentralized operating model, disciplined capital allocation, and a focus on maintaining a debt-averse balance sheet relative to peers. Founded in 1984, RPC expanded organically and through acquisitions over several decades, evolving from a regional service provider into a nationally recognized oilfield services firm prior to its acquisition.
Business Operations
RPC conducted operations through multiple business segments, with revenue primarily generated from completion and production-related services. Its largest revenue contributor historically was pressure pumping services, which included hydraulic fracturing and cementing, complemented by downhole tools, rental equipment, and support services used in drilling and well maintenance activities. The company owned and operated specialized fleets, tools, and inspection facilities that enabled it to provide integrated service offerings.
Operations were predominantly onshore United States–focused, with limited international exposure compared to global oilfield service majors. RPC controlled several operating subsidiaries, including Cudd Energy Services, Thru Tubing Solutions, and Patterson Tubular Services, each focused on specialized service lines. The company generated revenue through contractual service agreements with independent exploration and production companies, with activity levels closely tied to commodity prices and customer capital spending.
Strategic Position & Investments
RPC’s strategic direction emphasized capital discipline, operational flexibility, and selective investment during commodity cycles. The company historically invested in fleet upgrades, maintenance of pressure pumping equipment, and incremental technology enhancements rather than large-scale transformational acquisitions. Management prioritized preserving liquidity during downturns and expanding service capacity during periods of sustained demand.
A defining strategic development occurred in 2021, when RPC agreed to be acquired by NexTier Oilfield Solutions Inc., a major U.S. pressure pumping provider. The transaction combined complementary service portfolios and scale, positioning the combined entity to compete more effectively in North American completion services. Following the acquisition, RPC ceased to operate as an independent publicly traded company, and its assets and subsidiaries were integrated into NexTier’s operating structure.
Geographic Footprint
RPC’s operations were concentrated in the United States, with service coverage across major onshore producing regions including the Permian Basin, Eagle Ford, Haynesville, Marcellus/Utica, and Mid-Continent plays. The company maintained operational hubs, yards, and service facilities near active drilling and completion areas to support rapid deployment and customer responsiveness.
While RPC had limited international operations, its domestic footprint provided broad exposure to U.S. shale activity. Corporate headquarters were located in Atlanta, Georgia, with additional regional offices and operational centers distributed across key energy-producing states. International influence was minimal and not a material contributor to consolidated revenue.
Leadership & Governance
RPC was founded by Charles A. “Tony” Rowland Jr., who played a central role in shaping the company’s decentralized culture and conservative financial philosophy. Leadership emphasized long-term relationships with customers, operational autonomy at the subsidiary level, and prudent capital management through commodity cycles.
Key executives prior to the NexTier acquisition included:
- Charles A. “Tony” Rowland Jr. – Founder and Chairman
- Ben M. Palmer – President and Chief Executive Officer
- Kevin R. Rushing – Executive Vice President
- David C. Hager – Vice President and Chief Financial Officer
- Todd A. Brotherton – Vice President and Chief Accounting Officer
The board and executive team maintained governance practices aligned with public company standards, with oversight of capital allocation, risk management, and strategic transactions, including the sale of the company.