Welcome to our dedicated page for Ranger Energy Se news (Ticker: RNGR), a resource for investors and traders seeking the latest updates and insights on Ranger Energy Se stock.
Ranger Energy Services, Inc. (NYSE: RNGR) is an oilfield services company focused on support activities for oil and gas operations in the U.S. onshore market. This news page aggregates company announcements, earnings releases and transaction updates so readers can follow how Ranger’s high specification rigs, wireline services, and processing and ancillary services business evolves over time.
Ranger’s news flow frequently covers quarterly results for its High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services segments, including trends in rig hours, stage counts, margins and non-GAAP measures such as Adjusted EBITDA and Free Cash Flow. Management commentary in these releases provides context on activity levels across U.S. land basins, production-focused service lines, and the company’s relationships with large onshore producers.
Investors can also track strategic developments such as the acquisition of American Well Services, which expanded Ranger’s fleet of high-specification rigs and presence in the Permian Basin, and technology initiatives like the Ranger ECHO hybrid electric workover rig and the Overwatch AI diagnostics platform. Governance and capital allocation updates, including share repurchase activity, quarterly dividends, executive plans and board changes, are disclosed through press releases and related Form 8-K filings.
Use this RNGR news feed to monitor earnings dates, conference call announcements, investor conference presentations, dual listing updates and other material events that the company chooses to highlight. Regularly reviewing these items can help readers understand how Ranger’s operational performance, acquisitions, technology programs and capital returns strategy interact within the U.S. onshore oil and gas services landscape.
Ranger Energy Services (NYSE: RNGR) has finalized the acquisition of specific assets from Basic Energy Services as part of Basic's bankruptcy proceedings, approved by the U.S. Bankruptcy Court on September 23, 2021. The acquisition, valued at approximately $36.65 million, was funded through a private placement. The company also secured a $77.5 million credit facility to support this growth initiative. CEO Stuart Bodden expressed optimism about integrating Basic's expertise into Ranger's operations, aiming to enhance stockholder value.
Ranger Energy Services, Inc. (NYSE: RNGR) announced its subsidiary Ranger Energy Acquisition, LLC, successfully bid $36.65 million for assets from Basic Energy Services, Inc. This acquisition enhances Ranger’s operational capabilities across several service lines while excluding California operations. Funding will come from a $77.5 million credit facility and a $42 million private placement of Series A Convertible Preferred Stock. This strategic move is anticipated to drive revenue and free cash flow growth, pending bankruptcy court approval set for September 23, 2021.
Ranger Energy Services, Inc. (NYSE: RNGR) announced the appointment of Stuart Bodden as President and CEO, effective September 1, 2021. He succeeds Bill Austin, who served as interim CEO. Bodden brings over 20 years of oil field experience and is expected to lead the company's strategic growth plans. Ranger provides well service rigs and related services in the U.S., focusing on unconventional well operations. The announcement highlights the company's commitment to leadership continuity and operational expertise.
Ranger Energy Services (RNGR) reported a 31% revenue increase, reaching $50.0 million for Q2 2021, driven by gains in all segments. Despite a $9.1 million net loss, adjusted EBITDA rose to $2.0 million, bolstered by strong performance in the High Spec Rig segment, which saw revenues surge to $29.0 million. The company successfully completed acquisitions of Patriot and PerfX, aiming to enhance operational scale. However, increased operational costs, particularly in wireline services, pressured margins. Liquidity stood at $16.2 million, with net debt rising to $39.9 million due to facility leasebacks.
Ranger Energy Services, Inc. (NYSE:RNGR) will disclose its second quarter 2021 financial results after market close on July 29, 2021. Management will conduct an earnings conference call on July 30, 2021, at 10:00 a.m. Eastern Time. Interested participants can join by calling 1-833-255-2829 domestically or 1-412-902-6710 internationally, or via the Company’s website. Ranger Energy Services specializes in providing well service rigs and associated services across the U.S., focusing on unconventional horizontal well operations.
Ranger Energy Services (NYSE: RNGR) announced the acquisition of PerfX Wireline Services, marking its second wireline acquisition recently. Closing on July 8th, this acquisition follows the purchase of Patriot Completion Services on May 14th. Together, these acquisitions expand Ranger's wireline operations significantly, increasing truck count from 13 to 68 and enhancing service offerings across various basins. Financially, the combined entities generated $30 million in Q1 2021 revenue, with gross margins expected to rise to 20%. The strategic additions are poised to strengthen Ranger's market position.
Ranger Energy Services (NYSE: RNGR) announced the departure of CEO Darron Anderson after four years. Bill Austin, Chairman of the Board, has been appointed as interim CEO while a search for a permanent replacement is underway. Austin brings over 40 years of experience, including roles in oilfield services. He emphasized Ranger's strong market position and growth potential following recent acquisitions. Anderson expressed pride in Ranger's achievements and confidence in its future despite challenging market conditions.
Ranger Energy Services, Inc. (NYSE: RNGR) has announced the acquisition of Patriot Completion Solutions LLC in an all-stock transaction. This strategic move enhances Ranger's wireline business and expands its operational footprint in key basins such as the Permian and Bakken. With Patriot's debt-free balance sheet and strong reputation in wireline evaluation and intervention services, the acquisition is viewed as a significant opportunity. CEO Darron Anderson emphasized the synergies and increased capabilities that will arise from integrating Patriot’s assets, including 22 wireline units, into Ranger's existing operations.
Ranger Energy Services (NYSE: RNGR) reported its fiscal Q1 results for 2021, showing a decline in revenues to $38.3 million, down 8% from the previous quarter. The net loss increased to $8.3 million due to reduced gross profits in the Completions segment and a non-cash tax expense. High-Spec Rigs segment revenue remained flat at $21.7 million. Despite disruptions from severe weather, a positive trend in rig activity was noted. The company successfully completed sale-leaseback transactions generating $16 million to improve its balance sheet.
Ranger Energy Services, Inc. (NYSE:RNGR) has postponed its first quarter 2021 earnings conference call, initially set for April 23, 2021. The new schedule will see Ranger report its financial results after market close on May 5, 2021, followed by a conference call on May 6, 2021, at 11:00 a.m. Eastern time. Interested parties can join via phone or the company’s website. Ranger operates as an independent provider of well service rigs and related services in the U.S., focusing on unconventional horizontal well completion.