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Cudd Pressure Control, Inc. Acquires Sooner Testing, Inc |
HOUSTON, Feb. 12 /PRNewswire/ -- Cudd Pressure Control, Inc., a subsidiary of RPC, Inc. (NYSE: RES), has acquired Sooner Testing, Inc. of Elk City, Oklahoma, a fluid pumping, production testing and equipment rental company with primary operations in Oklahoma and Texas.
Cudd entered the well stimulation (acid pumping and fracturing) business in late 1999 through the formation of its Cudd Pumping Services Division in East Texas. In May of 2000, Cudd acquired Freemyer Technical Services, another well stimulation business serving the West Texas and New Mexico region.
With the Sooner acquisition, Cudd will extend and enhance its pumping services to the South and East Texas markets from its newly acquired Corpus Christi and Kilgore locations as well as increasing its market share and presence in Oklahoma through Sooner's Elk City location.
With the acquisitions of Sooner and Freemyer, Cudd continues to grow its well stimulation business and strengthens its overall presence in the energy services business. With the imminent spin-off of Chaparral Boats, RPC's only other major non-energy services related company, RPC is committed to the future of its oil and gas operations and to actively seeking continued growth through strategic acquisitions.
Cudd Pressure Control, Inc., based in Houston, Texas, is a leading provider of "live well" services to the worldwide oil and gas industry. These "live well" services include blowout control, well recovery, hydraulic workover (snubbing), as well as, coiled tubing services, nitrogen services, pumping services, marine services, wire line services, consulting services, and downhole tools.
RPC, Inc. is the parent company of Cudd Pressure Control, Patterson Services and Patterson Tubular Services. These companies provide a wide array of equipment and services to the domestic and international energy services industry.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RPC to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause the actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in RPC's Securities and Exchange Commission filings.
For information contact:
RONNIE MILAM
Cudd Pressure Control
4544 Post Oak Place, Suite 280
Houston, TX 77027
713/877-1118
BEN M. PALMER
RPC, Inc.
2170 Piedmont Road
Atlanta, GA 30324
404/321-2140
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