RPC, Inc.

Good morning and thank you for joining us for RPC, Inc.'s third quarter 2026 earnings conference call. Today's call will be hosted by Ben Palmer, President and CEO, and Mike Schmit, Chief Financial Officer. At this time, all participants are in listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at that time for you to queue up for questions. I would like to advise everyone that this conference call is being recorded. I will now turn the call over to Mr. Schmit.

Thank you and good morning. Before we begin, I want to remind you that some of the statements that will be made on this call could be forward-looking in nature and reflect a number of known and unknown risks. Please refer to our press release issued today along with our 10-K and other public filings that outline those risks, all of which can be found Thank you for joining us today. I'll now turn the call over to our President and CEO, Ben Palmer.

Thanks, Mike, and thank you for joining our call this morning. Today, we will talk about our third quarter results and provide you with a few operational highlights. While completion activity levels remained relatively subdued this quarter, RPC overall generated sequential revenue growth and particularly strong margin expansion driven by solid operational execution, strong cost leverage in several product lines, technology adoption and contributions from targeted investments. Within technical services, Cudd Pressure Control's largest service line, coil tubing was up 20% sequentially. Coil tubing revenue increased across all districts. Results during the quarter benefited from exceptionally strong job and equipment mix We have taken delivery of the third 2-7-8 reel trailer. Recall, this is an upgrade to an existing unit and not an incremental unit. We now have two additional units that are capable of a 2-7-8 reel replacement upgrade. These large diameter units continue to generate attractive utilization and support our strategy of investing in areas where we see strong full cycle returns. Cut pressure control snubbing revenues were up 12% sequentially. The big bore snubbing unit, which went into service during the second quarter, saw its first full quarter of work during the third quarter. The unit is designed for cavern storage inspections, which is regulatory driven. This work has multi-year visibility, but likely has the strongest seasonality in the second and third quarter of each year. Also within technical services, through tubing solutions, downhole tools revenues decrease 2% sequentially, primarily on lower fishing activity after several strong quarters. We continue to experience growth in our core product offerings, resulting in growth in our Rocky Mountain, Northeast, Southeast, and foreign districts. ThruTubing Solutions is a market leader in downhole completion tools with a portfolio of products supported by proprietary technologies in our patent portfolio. Our R&D team has developed a variety of enhanced tools and products that further our market leadership. ThruTubing Solutions has introduced new sizes of MetalMax, its metal-on-metal power section, increasing availability and adoption across districts. Some of our early adopter districts have MetalMax utilized on more than half of their jobs. MetalMax's performance and design characteristics are enabling entry into new markets and applications. The product reduces the number of trips an operator has to make out of hole, reducing non-productive time, and is capable of running in harsher conditions than traditional power sections. Our through tubing solutions team is pushing the limits with operators. During the quarter, our downhole tools set new depth records in the Bakken and Montenay formations. These results further validate the performance advantages of our technology portfolio and support continued market share gains. Overall, our downhole tools business is benefiting from more complex and longer laterals that are well-suited for our technology solutions. Turning to wireline, revenues declined 8% sequentially. Pentel's EBITDA margins have consistently been in the mid-single-digit range for the last few quarters. While Pentel has maintained its leading Permian market position, persistent pricing weakness combined with increased cost pressures have reduced our initial long-term earnings expectations for this business. Therefore, during the quarter, we recorded non-cash impairment charges of $74.5 million related to Pentel Wireline. Cut Energy Services pressure pumping revenues, including ACID, increased 3% sequentially. Pressure pumping revenues benefited from slightly improved pricing, but was offset by slightly lower pump hours. Pump hours were modestly impacted by non-CUD, non-productive time, including customer delays, mostly related to third-party logistics issues. Job mix was relatively consistent with the prior quarter. Both revenue and cost per pump hour increase marginally on a sequential basis. Our gas-burning pressure pumping equipment is well utilized with white space created by external factors. Industry spare capacity appears meaningfully lower than it was several quarters ago. We expect to maintain our current working fleets and will wait for returns to further improve before reactivating equipment. We have seen growing customer interest in our enhanced production techniques on existing wells. We were able to generate these revenues with non-gas burning equipment and smaller crews. While customer schedules currently indicate holiday impacts may be somewhat less severe than the last several years, we still expect normal year-end seasonality to affect activity levels across many of our service lines and for customer schedules to remain fluid up until the holidays. Macrovolatility has persisted with inflation pressures occurring in multiple areas. E&P operators as a whole appear to be cautiously optimistic regarding commodity prices, although concerns around demand, inflation, and geopolitical developments continue to create uncertainty. Overall, the oilfield service market is more constructive, but certain service lines need additional pricing improvements to justify reinvestment. We will continue prioritizing returns and focus on controlling factors we can influence. With that, Mike will now discuss the quarter's financial results.