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RPC, Inc. Reports Stock Buyback |
ATLANTA, Jul 16, 2002 /PRNewswire-FirstCall via COMTEX/ -- RPC, Inc. (NYSE: RES) today reported that during its fiscal quarter ended June 30, 2002, it had purchased for cash on the open market, and retired, a total of 42,100 shares of its $0.10 par value common stock. The stock buyback program, authorizing the repurchase of up to two million shares, was announced on March 9, 1998.
RPC is a leading provider of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest and Rocky Mountain regions, and in selected international markets. RPC's oil and gas services operating subsidiaries include Cudd Pressure Control, Inc., Patterson Services, Inc., and Patterson Tubular Services, Inc. RPC's investor Web site can be found on the Internet at www.rpc.net .
CONTACT: Ben M. Palmer
Chief Financial Officer
1-404-321-2140, or
Jim Landers
Corporate Finance
1-404-321-2162, or
irdept@rpc.net
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