A Locke Lord team led by Rachel Fitzgerald (Houston) represented Spinnaker Oilwell Services, LLC, a leading provider of oilfield cementing services in the Permian and Mid-Continent basins, in its sale to RPC, Inc. (NYSE: RES), for approximately $79.5 million in exchange for 100 percent of Spinnaker’s equity. Headquartered in Oklahoma City, Spinnaker operates two facilities located in Oklahoma and New Mexico and maintains 18 full-service cementing spreads. For more information, see the press release. Additional assistance was provided by Shumaila Dhuka, Jerry Higdon, Jeff McPhaul, Ed Razim, Michelle Gutierrez-Begin, Jordan Rodriguez, Akilah Craig, Andrew Nelson, Brendan O’Leary, Aaron Weiss (all of Houston), Peter Wynacht (Chicago), Mark Backofen (Dallas) and Andrew Capalbo (Providence).
Posted on July 5, 2023