8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
washington, d.c. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 12, 2018

RPC, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-8726	58-1550825
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2801 Buford Highway NE, Suite 520, Atlanta, Georgia 30329
(Address of principal executive office) (zip code)

Registrant's telephone number, including area code: (404) 321-2140

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 8.01 Other Events.

On February 12, 2018, the Board of Directors of RPC, Inc. increased the authorization of the amount of stock to be repurchased under its stock buyback program by 10.0 million shares. RPC’s stock buyback program, which was initially adopted in 1998 and subsequently amended in 2013, has been or soon will be fulfilled. The Company’s repurchase program does not have a predetermined expiration date.

On February 12, 2018, RPC, Inc. issued a press release titled “RPC, Inc. Authorizes Expansion of Stock Buyback Program.”

Item 9.01 Financial Statements and Exhibits.

(d)       Exhibits.

Exhibit 99 – Press Release dated February 12, 2018.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, RPC, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RPC, Inc.
Date: February 12, 2018	/s/ Ben M. Palmer
	Ben M. Palmer
	Vice President, Chief Financial
	Officer and Treasurer

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EX-99

Exhibit 99

 

RPC, Inc. Authorizes Expansion of Stock Buyback Program

ATLANTA, February 12, 2018 - RPC, Inc. (NYSE: RES) announced today that its Board of Directors approved an increase of 10.0 million shares to its stock buyback program. This authorization is part of a broader capital allocation framework to deliver value to shareholders by returning excess cash to shareholders through share repurchases and dividends. The Company’s stock buyback program does not have a predetermined expiration date.

RPC provides a broad range 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, Appalachian and Rocky Mountain regions, and in selected international markets. RPC’s investor website can be found at www.rpc.net.

For information about RPC, Inc., please contact:

Ben Palmer

Chief Financial Officer

(404) 321-2140

irdept@rpc.net

Jim Landers

Vice President, Corporate Finance

(404) 321-2162

jlanders@rpc.net