Ranger Energy Services, Inc. has announced the completion of its acquisition of certain assets from STEP Energy Services, a move that could significantly bolster its position in the competitive oil and gas field services industry.

Acquisition Details

On October 8, 2026, Ranger Energy Services finalized the transaction under an Asset Purchase Agreement originally disclosed on August 31, 2026. The acquisition involves assets related to STEP's coiled tubing, fluid and nitrogen pumping, and related well services business in the United States.

The total consideration for the acquisition is approximately $27.5 million, consisting of $22.5 million in cash and 307,503 shares of Ranger's Class A Common Stock, valued at $5 million based on the average trading price prior to the closing date. The cash portion was funded through borrowings from the Wells Fargo Revolving Credit Facility.

Company Background

Ranger Energy Services, Inc., based in Houston, Texas, operates in the oil and gas field services sector, specifically categorized under SIC code 1389. The company is listed on the New York Stock Exchange under the ticker symbol RNGR. As an accelerated filer and smaller reporting company, Ranger focuses on providing specialized services to the energy sector.

Strategic Implications

This acquisition is expected to enhance Ranger's operational capabilities and expand its service offerings in the oil and gas sector. By integrating STEP's assets, Ranger aims to strengthen its market position and improve its competitive edge against other players in the industry.

Next Steps

The company plans to file the complete Purchase Agreement as part of its Quarterly Report on Form 10-Q for the quarter ending September 30, 2026. Additionally, financial statements related to the acquired business will be submitted through an amendment to this Current Report within 71 days, unless an extension is granted by the SEC.

“This acquisition marks a significant step in our growth strategy, allowing us to offer a broader range of services to our clients,” said Melissa Cougle, Executive Vice President and Chief Financial Officer of Ranger Energy Services.