Acquisition of American Well Services
Ranger Energy Services announced the acquisition of American Well Services for approximately $90.5 million. This strategic acquisition increases Ranger's rig count by 25% and strengthens its position in the Permian Basin.
Introduction of ECHO Hybrid Electric Rigs
The first two ECHO rigs have been delivered and are undergoing final testing. These rigs are expected to work on live wells soon, offering significant safety and environmental benefits.
Projected EBITDA Growth
Ranger is expected to produce over $100 million in adjusted EBITDA in 2026, marking a pivotal milestone in the company's growth path.
Strong Financial Liquidity
Ranger has $116.7 million in total liquidity, which includes $71.5 million of capacity on its revolving credit facility and $45.2 million of cash on hand.
New Customer Contracts in Wireline Segment
Two new customer contracts with major independent operators were signed, providing potential for more sustainable revenue levels in 2026.