Ranger Energy Services, Inc. entered into an Asset Purchase Agreement on August 31, 2026, to acquire the U.S. coiled tubing assets of STEP Energy Services for approximately $27.5 million. The consideration consists of $22.5 million in cash and $5 million in Class A Common Stock shares issued based on a 30-day volume-weighted average price prior to closing. The transaction includes 13 coiled tubing spreads, related equipment, inventory, customer contracts, and approximately 220 employees. Completion is expected around September 11, 2026, subject to customary closing conditions including third-party consents. Pro forma financials indicate the acquisition will add $80 million to $90 million in revenue and over $10 million in EBITDA for 2027, with at least $2.5 million in first-year cost synergies. The deal positions Ranger as the second-largest U.S. coiled tubing operator in the onshore market. This company operates in the oilfield services industry, providing high-specification workover rigs and completion solutions to the U.S. onshore energy sector.

Ranger Energy Services, Inc. filed a Form 8-K on July 28, 2026, to disclose its second quarter 2026 financial and operating results via a conference call and investor presentation. The company reported trailing twelve-month adjusted EBITDA of $89.0 million and a fully diluted market capitalization of $397.6 million. Operational highlights include an active fleet of 182 rigs and the deployment of next-generation ECHO hybrid rigs, with contracts signed for 15 units in the Permian Basin and 3 in the Bakken. The firm maintains a strategy of returning capital to shareholders, having repurchased over 4.6 million shares and paid dividends since program inception. Ranger Energy Services, Inc. operates in the oil and gas industry, providing well servicing, rig, and wireline services to energy producers in the United States.

Ranger Energy Services, Inc. reported second quarter 2026 financial results with revenue of $176.5 million and net income of $6.9 million, or $0.29 per diluted share. The company declared a quarterly cash dividend of $0.06 per share, payable on August 21, 2026, to common stockholders of record as of August 7, 2026. Ranger Energy Services, Inc. is a provider of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry.