RPC, Inc.Southwest IDEAS Conference Discussion Materials

Dallas, TXNovember 21, 2019

Jim Landers – Vice President of Corporate Finance

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Forward-Looking Statement DisclosureCertain statements and information included in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including all statements that look forward in time or express management’s beliefs, expectations or hopes. These 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. Such statements include statements that the decline in customer activities during the third quarter of 2019 are expected to continue; that our older pressure pumping equipment which is being retired will not generate adequate returns; and that the steps RPC is presently taking will better position the Company to compete. 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 Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2018. The Company does not undertake to update these forward-looking statements. Please review RPC’s investor website, which can be found on the Internet at rpc.net for further information.

This presentation refers to several non-GAAP measures of operating performance. These non-GAAP measures are adjusted net loss, adjusted net income, adjusted loss per share, adjusted earnings per share, adjusted operating loss, adjusted operating profit, EBITDA and adjusted EBITDA.

We are using these non-GAAP measures today because they allow us to compare our performance consistently over various periods without regard to non-recurring items. In addition, RPC’s required to use EBITDA to report compliance with financial covenants under our credit facility.

This presentation and our website contain reconciliations of these non-GAAP financial measures to operating loss or income, net loss or income and losses or diluted earnings per share, which are the nearest GAAP financial measures. Please refer to Appendix A at the end of this presentation for a more complete explanation.

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Corporate Profile

NYSE: RES. Publicly-traded since 1984

Recent Share Price (November 12, 2019) $ 4.20

Annual Dividends Since 1997

Market Capitalization $901 million

Average Daily Volume (YTD) 2,540,000

Large Insider Ownership

• Provider of Oilfield Completion, Workover and Rental Services

• Primarily U.S., Land-Based

• Conservative Capitalization, High Returns on Invested Capital

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RPC’s Profile

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400

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1,200

1,400

1,600

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2,000

$0

$100

$200

$300

$400

$500

$600

2001 2004 2007 2010 2013 2016

Average U.S. D

omestic

 Rig Cou

nt

Ope

ratin

g Ca

sh Flow ($

 millions)

RPC has generated positive operating cash flow for the past 17 years

0%

10%

20%

30%

40%

50%

Average Peer Debt‐to‐Total Cap Ratio, 9/30/19 *

RPC has Maintained Peer‐Leading Balance Sheet Strength with a Debt‐

Free Capital Structure

• BAS, FTSI, LBRT, NCSM, NEX, QES, RNGR, SPN, TUSK.(Sources: FactSet and company disclosure)

• Operational Focus and Tenured Management• Long‐Term Focus ‐ Proven ability to manage through the oilfield cycles and 

allocate capital• Strong presence in the Permian Basin• Services that are leveraged to service‐intensive completionsCombined, these factors have allowed us to endure numerous oilfield cycles.

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3rd Quarter Update

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• Pressure Pumping Revenues continued to decline due to low utilization and job mix• Other service lines performed in line with industry metrics• Recorded impairment and other charges of $71.7 million during the quarter• Announced retirement of 400,000 pressure pumping horsepower and closing of several 

pressure‐pumping related locations• Reduced headcount and began other cost‐streamlining opportunities

($ 000's) 3Q 19 2Q 19 3Q18 Seq. YOY

Revenues $293,240 $358,516 $439,994 (18%) (33%)

Adjusted EBITDA 22,775 51,215 97,833 (56%) (77%)

Adjusted Net (Loss) Income ($17,978) $6,171 $49,967 N/M N/M

Adjusted Net (Loss) Income Per Share ($0.08) $0.03 $0.23 N/M N/M

Var. % ‐ B / (W)Summarized Financial Results

850

900

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1,050

1,100

Q3 18 Q2 19 Q3 19

Average Rig Count

$50

$55

$60

$65

$70

Q3 18 Q2 19 Q3 19

Average Oil Prices

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Fleet Retirements and Completion Activity are Rationalizing Oversupply, but Increasing Efficiency is Slowing the Process

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Catalysts for increased frac fleet efficiency include:• Increased 24‐ hour operations, leading to;• Increased pad drilling and completion, leading to;• More zipper fracs;  Also,  • Better logistics and• Lower maintenance downtime

IncreasedFrac Fleet Efficiency

> 20% Rig Efficiency

> 50%

Well Completions have been steady but 

are predicted to 

decline

Lower Rig 

Count< 12%

Idled Frac Fleets= 50%

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RPC’s Near-Term Focus

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• Alignment of Cost Structure to Current and Expected Activity Levels• Closing several pressure pumping locations and cutting costs

• Upgrading Pressure Pumping Fleet:• Integration of additional 100,000 HP high‐capacity pumps• Retirement of older pressure pumping horsepower• Marketing of pressure pumping service line to higher‐utilization customers

Pictured At Left:

One of our new 3,000 HP frac pumps. Placed into service in Q3 2019.

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Favorable Long-Term Track Record of Capital Stewardship

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• Operating Cash Flow exceeded capital expenditures by $1 billion during the period• Dividends every year since 1997• $1 billion returned to shareholders during a period of almost 19 years

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Return on Invested Capital *

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(10%)

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2006

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RPCPeers **

* Calculated using cash flow from operations and average invested capital

** PTEN, SPN, 2005 – 2018. FTSI, 2010 and 2016 – 2018. CJ, 2010 – 2018. FRAC, 2015 – 2018. LBRT, PUMP, SPN, NCSM, NINE, 2016 – 2018.

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Geographic Presence Within U.S. Basins

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5%

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30%

35%

40%

Permian Mid Con Rockies Bakken Eagle Ford Haynesville /E. TX

Marcellus Other US * International

RPC Revenues and U.S. Well Completions By Basin9 months ended 09.30.19

RPC Rev. YTD Q3 19 Well Completions

* Other US includes GOM, other markets NOC.

• RPC’s strongest presences are in the Permian Basin and Mid‐Continent.

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ThruTubing Solutions

• ThruTubing Solutions (Downhole tools and motors) provides services used in unconventional completion operations

• Specializes in accomplishing multi-stage completions in unconventional wells• Innovative SlicFrac diverter technology enhances frac efficiency, reduces the

need for other intervention methods, and eliminates potential formation damage

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Coiled Tubing

• 11 units of 2 3/8” or greater in diameter for completion applications• Approximately 27 smaller units for workover• Adding 6 new 2 5/8” units in 2019. Will have approximately 10%

market share in that category

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(Pictured below: A new 2 5/8” coiled tubing unit being readied for service)

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Other Support Services

Rental Tools• Rents a variety of tools and products required

during drilling or re-entering a well• 2% market share

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Patterson Tubular Services• Provides logistics, inspection, storage and maintenance

services of OCTG for major operators and pipe supply companies

• Acknowledged industry leader in the development and use of full-body, phased-array ultrasonic inspection systems

• Two Gulf Coast locations with barge and rail access• Steady, counter-cyclical source of revenues and profits

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Other Workover Services

Nitrogen• Used in a variety of oilfield

applications and several non-oilfield industrial uses

Snubbing / Hydraulic Workover• Allows workover work to be

performed on live wells

Well Control• Worldwide provider of blowout and

well control services• Also provides pre-event contingency

planning and well inspections

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Contact Us

Operational Headquarters: The Woodlands, Texas (right)

Corporate Headquarters: 2801 Buford Highway NESuite 300 Atlanta, GA 30329(404) 321-2140

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IRDept@RPC.netRPC.net

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Appendix A

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RPC, Inc. uses the following non‐GAAP financial measures:Adjusted net loss; Adjusted net income; Adjusted loss per share; Adjusted earnings per share; Adjusted operating loss; Adjusted operating profit; Earnings before interest, taxes, depreciation and amortization (EBITDA); and, Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA)

Management believes that presenting these financial measures enable us to compare our operating performance consistently over various time periods without regard to non‐recurring items. We are also required to use EBITDA to report compliance with financial covenants under our revolving credit facility.A non‐GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth below are reconciliations of these non‐GAAP measures with their most comparable GAAP measures: Periods ended, (Unaudited)

(In thousands) September 30, 2019

June 30, 2019

September 30, 2018 2019 2018

Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDANet (Loss) Income $ (69,181) $ 6,171 $ 49,967 $ (63,749) $ 162,040Add: Income tax (benefit) provision (24,221) 2,593 5,506 (21,894) 39,401 Interest expense 8 164 150 261 368 Depreciation and amortization 44,701 42,881 42,993 130,087 120,567Less: Interest income 182 594 783 1,576 1,643EBITDA $ (48,875) 51,215 97,833 43,129 320,733Add: Impairment and other charges 71,650 - - 71,650 - Adjusted EBITDA $ 22,775 $ 51,215 $ 97,833 $ 114,779 $ 320,733

Reconciliation of Operating (Loss) Profit to Adjusted Operating (Loss) ProfitOperating (loss) profit $ (92,639) $ 8,387 $ 54,553 $ (86,413) $ 190,380Add: Impairment and other charges 71,650 - - 71,650 - Adjusted Operating (Loss) Profit $ (20,989) $ 8,387 $ 54,553 $ (14,763) $ 190,380

Reconciliation of Net (Loss) Income to Adjusted Net (Loss) IncomeNet (Loss) Income $ (69,181) $ 6,171 $ 49,967 $ (63,749) $ 162,040Add: Discrete tax adjustment (6,744) - - (6,744) - Impairment and other charges, net of tax 57,947 - - 57,947 - Total Impact of Discrete tax adjustment and Impairment and other charges 51,203 - - 51,203 - Adjusted Net (Loss) Income $ (17,978) $ 6,171 $ 49,967 $ (12,546) $ 162,040

Reconciliation of Net (Loss) Income Per Share to Adjusted Net (Loss) Income Per ShareNet (Loss) Income Per Share $ (0.33) $ 0.03 $ 0.23 $ (0.30) $ 0.75 Total Impact of Discrete tax adjustment and Impairment and other charges $ 0.24 $ - $ - $ 0.24 $ -

Adjusted Net (Loss) Income Per Share (a) $ (0.08) $ 0.03 $ 0.23 $ (0.06) $ 0.75

Average Shares Outstanding 212,025 214,908 214,807 212,285 215,362(a) Net (Loss) Income per Share Excluding the Impact of Discrete tax adjustment and Impairment and other charges in the Three Months Ended September 30, 2019 does not sum because of rounding.

Three Months Ended Nine Months Ended