RPC (RES) said Wednesday it has acquired Pintail Alternative Energy for approximately $245 million in cash and securities, effective April 1.

Pintail is a provider of oilfield wireline services in the Permian basin, RPC said.

The transaction amount includes a combination of about $170 million cash-on-hand, $25 million of RPC restricted stock, and a $50 million three-year note to one of the sellers, the company said.

The acquisition is expected to be accretive to RPC's 2025 earnings per share, the company said.