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Ranger Energy Services, Inc. (symbol: RNGR) is a key player in the United States' onshore energy sector, providing high-specification well service rigs, wireline completion services, and comprehensive processing solutions. Established to support exploration and production (E&P) companies, Ranger Energy Services operates through three primary segments: High Specification Rigs, Completion and Other Services, and Processing Solutions.
The High Specification Rigs segment offers a fleet of 139 well service rigs, along with complementary equipment and services that facilitate operations throughout the lifecycle of a well. This includes the rental of fluid pumps, power swivels, well control packages, hydraulic catwalks, frac tanks, pipe racks, and pipe handling tools. Such services are essential for maintaining and enhancing well productivity.
The Completion and Other Services segment is dedicated to wireline completion services, which are crucial for bringing wells into production. This segment also provides various ancillary services that complement rig operations, ensuring seamless production and maintenance of wells.
Ranger Energy's Processing Solutions segment delivers proprietary solutions that are integral to the oil and gas extraction process. The company’s holistic approach and diverse service offerings enable it to meet the evolving needs of its clients and maintain a competitive edge in the market.
Recent achievements for Ranger Energy Services include strategic partnerships and continuous enhancement of their service capabilities, which have solidified their reputation as a reliable service provider in the energy industry. Currently, the company is engaged in innovative projects aimed at optimizing well performance and extending the productive life of wells.
With a strong financial position and a commitment to operational excellence, Ranger Energy Services is well-positioned to capitalize on opportunities within the energy sector and deliver value to its shareholders. The company's focus on high-specification equipment and services underpins its strategic advantage in the competitive landscape.
Ranger Energy Services, Inc. (NYSE:RNGR) is set to announce its first quarter 2022 financial results after market close on
Ranger Energy Services (RNGR) reported a substantial revenue increase of 51% in Q4 2021, totaling $123.1 million, up from $81.7 million in Q3. The net income surged to $24.4 million, a significant turnaround from a net loss of $9.1 million in the previous quarter, driven by a $37.2 million bargain purchase gain from the Basic Energy asset acquisition. Adjusted EBITDA rose to $9.1 million from $1.9 million. Looking ahead, Ranger anticipates Q1 2022 revenues of about $120 million and full-year revenues between $520 million and $560 million, marking an increase from earlier guidance.
Ranger Energy Services, Inc. (NYSE:RNGR) will disclose its fourth quarter 2021 financial results post-market on March 17, 2022. Following this, a conference call with the management is scheduled for March 18, 2022, at 9:30 a.m. Eastern time. Interested parties can join the call by dialing 1-833-255-2829 or via the company’s website. Ranger Energy specializes in well service rigs and associated services in the United States, focusing on horizontal well completion and production operations.
Ranger Energy Services (RNGR) reported a 63% sequential revenue growth to $81.7 million for Q3 2021, primarily driven by wireline acquisitions, including the recent Basic Energy Asset Acquisition. However, the company maintains a consistent net loss of $9.1 million despite operational enhancements. Adjusted EBITDA rose to $3.3 million, a 65% increase from Q2. The CEO emphasized successful integrations and anticipated margin improvements, despite current challenges in generating sustainable cash flow and increased debt levels, now totaling $70.1 million.
Ranger Energy Services, Inc. (NYSE:RNGR) will announce its third quarter 2021 financial results after market close on November 4, 2021. The management will host a conference call on November 5, 2021, at 10:00 a.m. Eastern time, to discuss the results. Participants can join the call by dialing 1-833-255-2829 domestically or 1-412-902-6710 for international access, or via the Company's website. A replay will also be available on the website following the call.
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.
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