Atlanta-based RPC Inc., which provides an array of oil and natural gas services for global customers, saw business improve “moderately” during the first quarter, but the pace is set to accelerate through the year, CEO Rick Hubbell said.

The 1Q2022 activity levels by the exploration and production (E&P) customers began to improve early this year, with an increasingly favorable outlook for oilfield services (OFS), Hubbell told analysts during a quarterly conference call. 

Like comments by many of his peers, he said the invasion of Ukraine by Russia has “changed our environment tremendously over the past two months. We believe the impact will allow us to plan our operations and investments with more certainty and generate improved financial results as this cycle...