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Ranger Energy Services Inc

Ranger Energy Services, Inc. provides onshore high-specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services. The High Specification Rigs segment offers well service rigs and complementary equipment and services supporting operations throughout a well's lifecycle, along with well maintenance services, and has a fleet of 431 well service rigs. The Wireline Services segment provides wireline production and intervention services, including cased hole logging, perforating, mechanical, and pipe recovery services, as well as wireline completion and pumping services, with a fleet of 65 wireline units and 29 high-pressure pump trucks. The Processing Solutions and Ancillary Services segment rents well service-related equipment such as fluid pumps, power swivels, well control packages, hydraulic catwalks, frac tanks, pipe racks, and pipe handling tools; offers coiled tubing, decommissioning, and snubbing services; and provides proprietary and modular equipment for processing natural gas streams, including the rental, installation, commissioning, operation, and maintenance of mechanical refrigeration units, nitrogen gas liquid stabilizer units, nitrogen gas liquid storage units, and related equipment. The company was founded in 2014 and is headquartered in Houston, Texas.

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Ranger Energy Services reports drop in second-quarter income

Ranger Energy Services posted a decline in second-quarter earnings. Net income fell to $6.9 million, or $0.29 per share, from $7.3 million, or $0.32 per share, in the same period last year. Revenue rose 25.5% to $176.5 million from $140.6 million a year earlier.
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Ranger Energy Services Signs Contract with Chevron for Three Additional ECHO Hybrid Rigs

Ranger Energy Services has entered into a contract with Hess Corporation, a wholly owned subsidiary of Chevron, to deploy three additional ECHO hybrid workover rigs in the Lower 48 United States. The ECHO rig, introduced in 2025, is the industry's first Hybrid Double Electric Workover Rig and reflects Ranger's ongoing conversion and electrification of its conventional rig fleet. The three rigs are expected to be delivered to Chevron in 2027, equipped with winterization packages, and will operate in the Bakken. With these additions, Ranger's active ECHO rig fleet is expected to reach twenty rigs by the end of 2027.
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