RPC is a U.S. oilfield services company that provides completion, production, and maintenance services to oil and gas producers, primarily independent and major E&P companies operating in the Permian Basin and other domestic onshore basins. RPC's services are used mainly at the completion stage of a well's life cycle — after drilling but before production begins. The company operates through two segments: Technical Services (~94% of revenue), which deploys equipment and personnel directly to well sites, and Support Services (~6%), which offers equipment rentals and pipe-related services. Key service lines within Technical Services include pressure pumping (hydraulic fracturing), downhole tools, wireline, coiled tubing, and cementing. RPC's revenue is driven by U.S. drilling and completion activity levels, OFS pricing, and asset utilization. The company's cost structure is largely fixed, so utilization is a key margin driver. RPC is deliberately shifting its portfolio away from pressure pumping — the most capital-intensive and commoditized service line — toward downhole tools, wireline, and coiled tubing, which are less capital-intensive and, in the case of downhole tools, more technology-differentiated. The April 2025 acquisition of Pintail Completions, the largest wireline perforating provider in the Permian, is central to this strategy. RPC runs a debt-free balance sheet and returns capital through dividends and opportunistic buybacks.