Exhibit 99

RPC, Inc. Reports First Quarter 2021 Financial Results

ATLANTA, April 28, 2021 - RPC, Inc. (NYSE: RES) today announced its unaudited results for the first quarter ended March 31, 2021. 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 and in selected international markets.

For the quarter ended March 31, 2021, RPC generated revenues of $182.6 million, a decrease of 25.1 percent compared to $243.8 million in the first quarter of 2020. Operating loss for the first quarter of 2021 was $10.5 million compared to an operating loss of $218.7 million and an adjusted operating loss of $13.2 million in the first quarter of the prior year.¹ Net loss for the first quarter of 2021 was $9.7 million, or $0.05 loss per share, compared to a net loss of $160.4 million, or $0.76 loss per share in first quarter of the prior year. In the first quarter of 2020 the adjusted net loss was $9.0 million, or $0.04 adjusted loss per share.² Earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter of 2021 was $7.8 million, compared to negative EBITDA of $179.7 million and an adjusted EBITDA of $25.8 million in the same period of the prior year.³

Cost of revenues during the first quarter of 2021 was $ 146.2 million, or 80.1 percent of revenues, compared to $181.9 million, or 74.6 percent of revenues during the first quarter of 2020. Cost of revenues declined primarily due to decreases in expenses consistent with lower activity levels and RPC’s ongoing cost reduction initiatives. Cost of revenues as a percentage of revenues increased primarily due to labor and other cost inefficiencies resulting from lower activity levels, as well as increased diesel fuel costs, in the first quarter as compared to the prior year.

Selling, general and administrative expenses were $30.6 million in the first quarter of 2021 compared to $36.5 million in the first quarter of 2020. These expenses decreased due to lower employment costs, primarily the result of cost reduction initiatives during previous quarters. Selling, general and administrative expenses increased from 15.0 percent of revenues in the first quarter of 2020 to 16.8 percent of revenues in the first quarter of 2021. Depreciation and amortization was $17.8 million in the first quarter of 2021 compared to $39.3 million in the first quarter of the prior year. Depreciation and amortization declined primarily because of RPC’s asset impairment charges recorded in prior quarters.

¹ Adjusted operating loss is a financial measure which does not conform to GAAP. Additional disclosure regarding this non-GAAP financial measure and its reconciliation to operating loss, the nearest GAAP financial measure, is disclosed in Appendix A to this press release.

² Adjusted net loss and adjusted loss per share are financial measures which do not conform to GAAP. Additional disclosure regarding these non-GAAP financial measures and their reconciliation to net loss and loss per share, the nearest GAAP financial measures, are disclosed in Appendix B to this press release.

³ Adjusted EBITDA and EBITDA are financial measures which do not conform to GAAP. Additional disclosure regarding these non-GAAP financial measures and their reconciliation to net loss, the nearest GAAP financial measure, is disclosed in Appendix C to this press release.

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Discussion of Sequential Quarterly Financial Results

RPC’s revenues for the quarter ended March 31, 2021 increased by $34.0 million compared to the prior quarter, or 22.9 percent, due to activity increases in most service lines. Cost of revenues during the first quarter of 2021 increased by $28.3 million, or 24.0 percent, due to expenses which increase with higher activity levels such as materials and supplies and employment costs. As a percentage of revenues, cost of revenues increased slightly from 79.3 percent in the fourth quarter of 2020 to 80.1 percent in the first quarter of 2021 due to increases in maintenance and repair expenses and fuel costs. Selling, general and administrative expenses increased by $4.6 million in the first quarter of 2021 compared to the prior quarter, primarily due to a beneficial forfeiture rate adjustment to stock compensation recorded in the prior quarter. RPC’s operating loss in the first quarter of 2021 was $10.5 million, compared to an operating loss of $21.6 million and an adjusted operating loss of $11.3 million for the fourth quarter of 2020.¹ EBITDA for the first quarter of 2021 was $7.8 million compared to negative EBITDA of $2.5 million and adjusted EBITDA of $7.8 million in the fourth quarter of 2020.³

The average U.S. domestic rig count during the first quarter of 2021 was 396, a 49.6 percent decrease compared to the same period in 2020, but a 27.3 percent increase compared to the fourth quarter of 2020. The average price of oil during the first quarter of 2021 was $58.13 per barrel, a 23.1 percent increase compared to the same period in 2020, and a 36.4 percent increase compared to the fourth quarter of 2020. The average price of natural gas during the first quarter of 2021 was $3.59 per Mcf, an 87.0 percent increase compared to the same period in 2020, and a 43.6 percent increase compared to the fourth quarter of 2020.

Management Commentary

“First quarter revenues increased compared to the prior quarter in all of our major service lines as oil prices increased and customers initiated their annual drilling and completion plans,” stated Richard A. Hubbell, RPC’s President and Chief Executive Officer. “Equipment and crew utilization increased as we continued to improve efficiencies and streamlined operations. Job mix in several service lines contributed to our sequential revenue growth as well. These activity improvements were partially offset by the extreme winter weather in February in many of our markets, particularly the Permian Basin. This event hurt profitability because of weather-related expenses and inefficiencies arising from a two-week long operational disruption.

“As we begin the second quarter, we believe near-term industry activity will be similar to the first quarter, adjusted for the weather impact. Although drilling and completion activities have improved, supported by higher oil prices and customer spending, the oilfield services industry is still faced with overcapacity. We believe pricing for our services will continue to be intensely competitive, and financial returns do not presently support significant growth capital expenditures. Our first quarter capital expenditures of $11.8 million reflect this conservative outlook, and we are pleased that our cash balance at the end of the quarter was $85.4 million, slightly higher than year-end 2020,” concluded Hubbell.

Summary of Segment Operating Performance

RPC manages two operating segments - Technical Services and Support Services.

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Technical Services includes RPC’s oilfield service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer’s well. These services are generally directed toward improving the flow of oil and natural gas from producing formations or to address well control issues. The Technical Services segment includes pressure pumping, downhole tools and services, coiled tubing, hydraulic workover services, nitrogen, surface pressure control equipment, well control, and fishing tool operations.

Support Services includes RPC’s oilfield service lines that provide equipment for customer use or services to assist customer operations. The equipment and services offered include rental of tubulars and related tools, pipe handling, inspection and storage services, and oilfield training services.

Technical Services quarterly revenues decreased by 24.2 percent compared to the same period of the prior year due to significantly lower activity and pricing. On a sequential basis, Technical Services revenues increased by 24.2 percent compared to the prior quarter due to increased activity levels in most of the segment’s service lines. Support Services revenues decreased by 38.0 percent during the first quarter compared to the same period of the prior year. On a sequential basis, Support Services revenues increased by 3.2 percent compared to the prior quarter. Technical Services narrowed its operating loss during the first quarter of 2021 compared to the fourth quarter of 2020 due to higher activity levels.

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RPC, Inc. will hold a conference call today, April 28, 2021 at 9:00 a.m. ET to discuss the results for the quarter. Interested parties may listen in by accessing a live webcast in the investor relations section of RPC, Inc.’s website at rpc.net. The live conference call can also be accessed by calling (833) 579-0910 or (778) 560-2620 for international callers, and use conference ID number 3471295. For those not able to attend the live conference call, a replay will be available in the investor relations section of RPC, Inc.’s website beginning approximately two hours after the call and for a period of 90 days.

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 rpc.net.

Certain statements and information included in this press release 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, including our expectations that activity levels during the near term will remain consistent with the first quarter of 2021; our belief that pricing for our services will continue to be intensely competitive; our belief that financial returns do not presently support significant growth capital expenditures. Such risks include changes in general global business and economic conditions, including fluctuations in prices of oil and natural gas; the impact of the COVID-19 pandemic on our operations; credit risks associated with collections of our accounts receivable from customers experiencing challenging business conditions; drilling activity and rig count; risks of reduced availability or increased costs of both labor and raw materials used in providing our services; the impact on our operations due to changes in regulatory and environmental laws; turmoil in the financial markets and the potential difficulty to fund our capital needs; the actions of OPEC+, which could impact drilling activity; adverse weather conditions in oil and gas producing regions; competition in the oil and gas industry; an inability to implement price increases; risks of international operations; and reliance upon large customers. 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 for the year ended December 31, 2020.

For information about RPC, Inc., please contact:

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Appendix A

RPC, Inc. has used the non-GAAP financial measure of adjusted operating loss in today's earnings release, and anticipates using this non-GAAP financial measure in today's earnings conference call. This measure should not be considered in isolation or as a substitute for operating loss, or other performance measures prepared in accordance with GAAP.

Management believes that presenting the financial measure of adjusted operating loss enables us to compare our operating performance consistently over various time periods without regard to non-recurring items.

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 is a reconciliation of this non-GAAP measure with its most comparable GAAP measures. This reconciliation also appears on RPC, Inc.'s investor website, which can be found on the Internet at rpc.net.

The Reconciliation of Operating Loss to Adjusted Operating Loss, the nearest performance measure prepared in accordance with GAAP, is shown below:

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Appendix B

RPC, Inc. has used the non-GAAP financial measures of adjusted net loss and adjusted loss per share, in today's earnings release and anticipates using these non-GAAP financial measures in today's earnings conference call. These measures should not be considered in isolation or as a substitute for net loss, loss per share, or other performance measures prepared in accordance with GAAP.

Management believes that presenting the financial measures of adjusted net loss and adjusted loss per share, enable us to compare our operating performance consistently over various time periods without regard to non-recurring items.

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 is a reconciliation of this non-GAAP measure with its most comparable GAAP measures. This reconciliation also appears on RPC, Inc.'s investor website, which can be found on the Internet at rpc.net.

The Reconciliation of Net Loss to Adjusted Net Loss and the Reconciliation of Loss Per Share to Adjusted Loss Per Share is shown below:

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Appendix C

RPC has used the non-GAAP financial measures of earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) in today's earnings release, and anticipates using EBITDA and adjusted EBITDA in today's earnings conference call. EBITDA and adjusted EBITDA should not be considered in isolation or as a substitute for net loss or other performance measures prepared in accordance with GAAP.

RPC uses EBITDA and adjusted EBITDA as a measure of operating performance because it allows us to compare performance consistently over various periods without regard to changes in our capital structure or 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 is a reconciliation of net loss to EBITDA and adjusted EBITDA, the most comparable GAAP measures. This reconciliation also appears on RPC's investor website, which can be found on the Internet at rpc.net.

The Reconciliation of Net Loss to EBITDA and Adjusted EBITDA is shown below: