Ranger Energy Services completed its previously announced acquisition of certain assets associated with STEP Energy Services' coiled tubing, fluid and nitrogen pumping, and related well services business in the United States. The aggregate consideration was approximately $27.5 million, subject to customary post-closing adjustments. The purchase price consisted of $22.5 million in cash, funded through borrowings under the company's Wells Fargo Revolving Credit Facility, and 307,503 shares of Class A Common Stock valued at $5.0 million based on the 30-day volume-weighted average trading price preceding the closing date. Ranger Energy Services operates in the oilfield services industry.
