ACQUISITION

3 Months Ended

Mar. 31, 2026

3. ACQUISITION

During the second quarter of 2025, RPC, through its wholly owned subsidiary, Thru Tubing Solutions, Inc., completed its previously announced acquisition of Pintail Alternative Energy, L.L.C. ("Pintail”). The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations primarily using Level 3 inputs. The preliminary purchase price allocation disclosed as of December 31, 2025, has been revised as new information was received and analyzed resulting in a $2.3 million increase in tradenames, a $100 thousand increase in customer

relationships and decreases in goodwill of $2.2 million and property, plant and equipment of $227 thousand. The changes are attributable to valuation refinements. No adjustments were made in the quarter ending March 31, 2026.

The measurement period concluded on April 1, 2026, and the fair values of assets acquired and liabilities assumed were finalized as of that date. Any subsequent changes resulting from new information obtained after the measurement period will be recognized in earnings in the period identified, in accordance with ASC 805. The amounts below represent the fair value at the end of the measurement period:


			Amount
Cash and cash equivalents		$	3,000
Accounts receivable			66,268
Inventories			7,544
Prepaid expenses			302
Property, plant and equipment, net			44,218
Operating lease right-of-use assets			541
Finance lease right-of-use assets			1,134
Other intangibles, net			95,400
Other assets			6
Total assets			218,413

Accounts payable			(46,288)
Accrued payroll and related expenses			(4,911)
Accrued state, local and other taxes			(1,498)
Current portion of notes payable			(4,375)
Current portion of operating lease liabilities			(231)
Current portion of finance lease liabilities			(501)
Accrued expenses and other liabilities			(8,673)
Long-term operating lease liabilities			(282)
Long-term finance lease liabilities			(659)
Total liabilities			(67,418)
Net assets acquired			150,995
Preliminary purchase price			181,420
Goodwill recorded		$	30,425

The following table summarizes the amounts allocated to identifiable intangible assets acquired:


		Fair Value	Estimated Useful Life
(in thousands)
Customer relationships	$	83,800	10
Trade names and trademarks		11,600	10
Intangible assets acquired	$	95,400

The Consolidated Statement of Operations for the three months ended March 31, 2025, did not include Pintail’s operating results as the acquisition closed on April 1, 2025.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

RPC INC 10-Q