RPC Authorizes 8M Shares Increase To Stock Buyback

Additionally, the Board of Directors approved an increase of 8.0 million shares to the number of shares authorized for repurchase under the company’s stock buyback program for a total remaining available for repurchase of 15,115,820 shares.  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.  Repurchases of shares of the company’s common stock may be made from time to time in the open market, by block purchases, in privately negotiated transactions or in such other manner as determined by the company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the company’s shares, general market and economic conditions, and other factors. The stock repurchase program does not obligate the company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time. The company does not expect to incur debt to fund the share repurchase program.