Welcome to our dedicated page for Ranger Energy Se news (Ticker: RNGR), a resource for investors and traders seeking the latest updates and insights on Ranger Energy Se stock.
Ranger Energy Services Inc (RNGR) provides essential onshore well services and processing solutions for the energy sector. This news hub offers investors and industry professionals centralized access to official updates and market-relevant developments.
Track critical announcements including quarterly earnings, equipment deployments, and operational milestones. Our curated collection features press releases covering rig fleet expansions, wireline service innovations, and strategic partnerships within the oilfield services sector.
Key updates include technical service enhancements, safety protocol implementations, and market expansion initiatives. Users will find detailed information on RNGR's high-specification rig operations, completion services advancements, and processing technology deployments.
Bookmark this page for streamlined access to Ranger Energy Services' official communications. Check regularly for verified updates about their specialized well intervention solutions and E&P sector support services.
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.
Ranger Energy Services (NYSE: RNGR) announced the acquisition of PerfX Wireline Services, marking its second wireline acquisition recently. Closing on July 8th, this acquisition follows the purchase of Patriot Completion Services on May 14th. Together, these acquisitions expand Ranger's wireline operations significantly, increasing truck count from 13 to 68 and enhancing service offerings across various basins. Financially, the combined entities generated $30 million in Q1 2021 revenue, with gross margins expected to rise to 20%. The strategic additions are poised to strengthen Ranger's market position.
Ranger Energy Services (NYSE: RNGR) announced the departure of CEO Darron Anderson after four years. Bill Austin, Chairman of the Board, has been appointed as interim CEO while a search for a permanent replacement is underway. Austin brings over 40 years of experience, including roles in oilfield services. He emphasized Ranger's strong market position and growth potential following recent acquisitions. Anderson expressed pride in Ranger's achievements and confidence in its future despite challenging market conditions.
Ranger Energy Services, Inc. (NYSE: RNGR) has announced the acquisition of Patriot Completion Solutions LLC in an all-stock transaction. This strategic move enhances Ranger's wireline business and expands its operational footprint in key basins such as the Permian and Bakken. With Patriot's debt-free balance sheet and strong reputation in wireline evaluation and intervention services, the acquisition is viewed as a significant opportunity. CEO Darron Anderson emphasized the synergies and increased capabilities that will arise from integrating Patriot’s assets, including 22 wireline units, into Ranger's existing operations.
Ranger Energy Services (NYSE: RNGR) reported its fiscal Q1 results for 2021, showing a decline in revenues to $38.3 million, down 8% from the previous quarter. The net loss increased to $8.3 million due to reduced gross profits in the Completions segment and a non-cash tax expense. High-Spec Rigs segment revenue remained flat at $21.7 million. Despite disruptions from severe weather, a positive trend in rig activity was noted. The company successfully completed sale-leaseback transactions generating $16 million to improve its balance sheet.
Ranger Energy Services, Inc. (NYSE:RNGR) has postponed its first quarter 2021 earnings conference call, initially set for April 23, 2021. The new schedule will see Ranger report its financial results after market close on May 5, 2021, followed by a conference call on May 6, 2021, at 11:00 a.m. Eastern time. Interested parties can join via phone or the company’s website. Ranger operates as an independent provider of well service rigs and related services in the U.S., focusing on unconventional horizontal well completion.
Ranger Energy Services (NYSE: RNGR) has completed a sale-leaseback transaction for its DJ Basin facility, raising $13 million in gross proceeds. CEO Darron Anderson stated this move enhances liquidity and aids in reducing net debt. The company will maintain operational control through a long-term lease on the property, which includes office and support facilities. Ranger, specializing in well services in the U.S., aims to leverage this transaction to pursue both organic and acquisition-driven growth as the market recovers.
