Hybrid rig contract expands Ranger Energy (NYSE: RNGR) fleet

Rhea-AI Filing Summary

Ranger Energy Services, through its subsidiary Ranger Energy Services, LLC, has signed a contract with a core customer to build and deploy 15 ECHO™ Hybrid Electric Rigs. These rigs use hybrid electric technology, which can improve efficiency compared with traditional drilling rigs.

The agreement includes shared capital cost provisions and minimum hourly commitments for future periods, giving the rig program a committed utilization framework. The first rig is expected to be delivered in the third quarter of 2026, with all 15 rigs anticipated to be deployed before the end of 2027.

Insights

Oilfield services and energy equipment analyst

Ranger secures multi-rig hybrid electric contract with a core customer, adding long-term visibility to future rig activity.

The company, via Ranger Energy Services, LLC, agreed to construct and deploy 15 ECHO™ Hybrid Electric Rigs for a core customer. Hybrid electric rigs can lower fuel use and emissions relative to conventional units, which may align with operators’ efficiency and environmental goals while modernizing the fleet.

The contract includes shared capital costs and minimum hourly commitments in future periods, which provides a framework for cost recovery and baseline utilization. Delivery is staged, with the first rig expected in the third quarter of 2026 and all 15 anticipated to be deployed before the end of 2027, spreading construction and deployment over roughly two years.

Actual financial impact will depend on dayrates, operating margins, and how fully the minimum-hour commitments are utilized once the rigs are working. Future disclosures in company reports may detail capital spending per rig, revenue contribution from the contract, and how these hybrid units affect overall fleet mix and profitability over the 2026–2027 deployment window.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): January 16, 2026

Ranger Energy Services, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware			001-38183			81-5449572
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)
10350 Richmond, Suite 550 Houston, Texas 77042 (Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (713) 935-8900

Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, $0.01 par value

RNGR

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangexActx☐

Item 8.01     Other Events

On January 16, 2026, Ranger Energy Services, Inc., through its direct wholly-owned subsidiary, Ranger Energy Services, LLC (“RES, LLC”), entered into a contract with a core customer for the construction and deployment by RES, LLC or its affiliates of 15 ECHO™ Hybrid Electric Rigs (each a “Rig” and together the “Rigs”). The contract includes provisions related to shared capital costs and minimum hourly commitments applicable in future periods. The first Rig under the contract is expected to be delivered in the third quarter of 2026, with all 15 Rigs currently anticipated to be deployed prior to the end of 2027. The foregoing description is simply an overview of information as to the Rigs to be constructed and deployed and is not a summary of all material terms and conditions of the contract.

SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Ranger Energy Services, Inc.
/s/ Melissa Cougle						February 3, 2026
Melissa Cougle						Date
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)

FAQ

What contract did Ranger Energy Services (RNGR) announce for new rigs?

Ranger Energy Services agreed to construct and deploy 15 ECHO™ Hybrid Electric Rigs for a core customer. The deal covers both building and operating the rigs, using hybrid electric technology intended to improve operational efficiency compared with conventional drilling rigs.

How many ECHO Hybrid Electric Rigs will Ranger Energy (RNGR) build and deploy?

Ranger Energy plans to build and deploy 15 ECHO™ Hybrid Electric Rigs under the new contract. These rigs will be constructed and operated by Ranger Energy Services, LLC or its affiliates as part of a dedicated program for a core customer.

When will Ranger Energy Services (RNGR) deliver the first ECHO Hybrid Electric Rig?

The first ECHO™ Hybrid Electric Rig under the contract is expected to be delivered in the third quarter of 2026. This initial deployment will start the broader rollout of the contracted 15-rig fleet for the company’s core customer.

By when are all 15 Ranger Energy (RNGR) hybrid rigs expected to be deployed?

All 15 ECHO™ Hybrid Electric Rigs are currently anticipated to be deployed before the end of 2027. This timeline spreads construction and deployment over multiple quarters, potentially smoothing capital spending and ramping utilization as the customer brings rigs into service.

What financial terms are highlighted in Ranger Energy’s (RNGR) hybrid rig contract?

The contract includes shared capital cost provisions and minimum hourly commitments for future periods. Shared capital costs indicate the customer participates in funding the rigs, while minimum hourly commitments help support baseline utilization and revenue once the rigs are operating.

Which Ranger Energy entity is party to the new hybrid rig contract?

The contract was entered into by Ranger Energy Services, LLC, a direct wholly-owned subsidiary of Ranger Energy Services, Inc. This subsidiary will handle construction and deployment of the 15 ECHO™ Hybrid Electric Rigs for the company’s core customer under the agreement.