Tranche Update on Cactus, Inc.'s Equity Buyback Plan announced on June 8, 2023.
February 29, 2024 at 04:36 pm EST
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From October 1, 2023 to December 31, 2023, the company has repurchased 4,225 shares, representing 0.006468% for $0.17 million. With this, the company has completed the repurchase of 8,232 shares, representing 0.01% for $0.33 million under the buyback announced on June 8, 2023.
Cactus, Inc. is a holding company. The Company operates through two segments. The Pressure Control segment designs, manufactures, sells and rents a range of wellheads and pressure control equipment under the Cactus Wellhead brand. The segmentâs products are sold and rented principally' for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers' wells. In addition, it provides field services for all of its products and rental items to assist with the installation, maintenance and handling of the equipment. The Spoolable Technologies segment designs, manufactures and sells spoolable pipe and associated end fittings under the FlexSteel brand. Its customers use these products primarily as production, gathering and takeaway pipelines to transport oil, gas or other liquids. In addition, it also provides field services and rental items to assist its customers with the installation of these products.