Ranger Energy Services, Inc. Announces Stuart Bodden as President and Chief Executive Officer

Rhea-AI Summary

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.

Positive

• Appointment of Stuart Bodden as President and CEO could strengthen leadership.
• Bodden's extensive experience in the oil service business may enhance operational success.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Ranger Energy Services, Inc. (NYSE: RNGR) (the ”Company”) today announced that Stuart Bodden has been named as President and Chief Executive Officer (“CEO”), effective September 1, 2021. Stuart has also been appointed to the board of directors.

Bill Austin, stated, “I am pleased that Stuart will be joining Ranger. He brings a deep knowledge of the oil service business and a track record of operational success. The Board of Directors looks forward to Stuart joining the management team.” Stuart will succeed Bill Austin, who has been acting as the Company’s interim CEO.

Stuart commented, “I look forward to joining the Ranger leadership team and continuing the Company’s strategic growth and consolidation plans.”

Bodden has over 20 years of oil field experience in companies throughout the United States and Southeast Asia. Bodden received his Bachelor of Science degree from Brown University and his Master of Business Administration from the University of Texas, Austin.

About Ranger Energy Services, Inc.

Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides services necessary to bring and maintain a well on production. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements represent Ranger’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ranger does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ranger to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our filings with the Securities and Exchange Commission. The risk factors and other factors noted in Ranger’s filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005286/en/

J. Brandon Blossman

Chief Financial Officer

(713) 935-8900

Brandon.Blossman@rangerenergy.com

Source: Ranger Energy Services, Inc.

FAQ

Who has been appointed as the new CEO of Ranger Energy Services?

Stuart Bodden has been appointed as the new CEO of Ranger Energy Services, effective September 1, 2021.

What is Ranger Energy Services' stock symbol?

Ranger Energy Services is traded under the stock symbol RNGR on the NYSE.

What experience does Stuart Bodden bring to Ranger Energy Services?

Stuart Bodden brings over 20 years of experience in the oil field industry, with a successful track record in operational roles.

Who did Stuart Bodden succeed as CEO of Ranger Energy Services?

Stuart Bodden succeeded Bill Austin, who was acting as the interim CEO.

What does Ranger Energy Services specialize in?

Ranger Energy Services specializes in providing well service rigs and associated services, focusing on unconventional horizontal well completion and production operations.