Ranger Energy Services Completes $27.5 Million STEP Energy Asset Acquisition

MT newswire2026/10/09 11:20

07:20 AM EDT, 10/09/2026 (MT Newswires) -- Ranger Energy Services (RNGR) said in a regulatory filing Friday it has completed its acquisition of certain US assets from STEP Energy Services for about $27.5 million. The company said the deal includes certain assets related to STEP's coiled tubing, fluid and nitrogen pumping, and well services business, along with certain lease rights. Ranger Energy said it paid $22.5 million in cash and issued 307,503 shares of class A stock valued at $5 million. The company said it funded the cash portion through borrowings under its Wells Fargo revolving credit facility, and the purchase price remains subject to customary post-closing adjustments.

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