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Last $26.12 USD
Change Today +0.30 / 1.16%
Volume 136.0K
RNET On Other Exchanges
As of 8:10 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

rignet inc (RNET) Snapshot

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52 Week High
08/5/14 - $56.95
52 Week Low
07/28/15 - $24.42
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rignet inc (RNET) Details

RigNet, Inc. provides digital technology solutions to the oil and gas industry. The company operates through three segments: Eastern Hemisphere, Western Hemisphere, and Telecoms Systems Integration. It offers remote communications services through a controlled and managed Internet protocol/multiprotocol label switching (IP/MPLS) global network, enabling drilling contractors, oil companies, and oilfield service companies to communicate. The company also offers a communications package of voice, data, video, networking, and real-time data management to offshore and land-based remote locations. It primarily provides voice-over-Internet-protocol, data, and high-speed Internet access, as well as other value-added services, such as video conferencing solutions, TurboNet wide area network acceleration solutions, real-time data management solutions, Wi-Fi hotspots and Internet kiosks, wireless intercoms, and handheld radios. In addition, the company offers telecoms systems integration services to design, assemble, install, and commission turn-key solutions for customer telecommunications systems; and Secure Oil Information Link, a managed members-only communications network hub that enables collaborative partners, suppliers, and customers to transfer and share data. Further, it provides microwave and WiMAX networks in the U.S. Gulf of Mexico and the North Sea serving drillers, producers, and energy vessel owners; VSAT services; an M2M SCADA VSAT network services to the pipeline industry; telecommunications systems integration services; and a L-band MSS retail energy services. The company serves the owners and operators of offshore drilling rigs and production facilities, land rigs, remote offices, and supply bases in approximately 50 countries, including the United States, Brazil, Norway, the United Kingdom, Nigeria, Qatar, Saudi Arabia, Singapore, and Australia. RigNet, Inc. was founded in 2000 and is headquartered in Houston, Texas.

698 Employees
Last Reported Date: 03/2/15
Founded in 2000

rignet inc (RNET) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $451.2K
Senior Vice President and General Counsel
Total Annual Compensation: $259.0K
Group Vice President of Managed Services
Total Annual Compensation: $260.8K
Compensation as of Fiscal Year 2014.

rignet inc (RNET) Key Developments

RigNet Inc. to Cut Jobs in Cost-Restructuring Plan

RigNet Inc. to unveil a plan to cut costs amid low oil prices. On July 13, the company announced it would cut 47 jobs, or nearly 8% of its workforce. That would mean RigNet currently employs roughly 600 people. The job cuts are expected to be complete by July 31 and result in $4.5 million in annualized savings, after a restructuring charge of approximately $1 million.

RigNet, Inc. Wins Telecoms Turnkey EPC Contract for Major U.S. Gulf Coast LNG Export Facility

RigNet, Inc. announced that its RigNet TSI business has been awarded a multi-million dollar contract to deliver communications systems and infrastructure for a green field multi-train Gulf Coast LNG liquefaction and export facility. The award of this contract by a leading Texas energy producer continues RigNet’s long-term success in the delivery of integrated telecommunications systems for this important part of the United States’ energy export infrastructure.

RigNet, Inc. Announces Executive Changes

RigNet, Inc. announced that Marty Jimmerson, the company’s senior vice president & chief financial officer (CFO), has decided to resign from the company. In connection with Mr. Jimmerson’s decision to step down as CFO of the company. RigNet has hired Heidrick & Struggles to lead the CFO search, which will consider both external and internal candidates.


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Valuation RNET Industry Range
Price/Earnings 37.0x
Price/Sales 1.4x
Price/Book 3.3x
Price/Cash Flow 10.6x
TEV/Sales 0.9x

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