Ranger Energy Services (RNGR) Company Report

On January 16, 2026, Ranger Energy Services, Inc. (RNGR), through its direct wholly-owned subsidiary, Ranger Energy Services, LLC, entered into a contract with a core customer.
The contract is for the construction and deployment of 15 ECHO™ Hybrid Electric Rigs.
The agreement includes provisions for shared capital costs and minimum hourly commitments.
The first Rig is expected to be delivered in the third quarter of 2026, with all 15 Rigs anticipated to be deployed prior to the end of 2027.

3 days ago

8-K

Ranger Energy Services Discusses American Well Services Acquisition and 2026 Outlook

RNGR

M&A

Share Buyback

Dividends

Ranger Energy Services recently acquired American Well Services (AWS) for approximately $90 million, funded primarily by $60 million in cash from its balance sheet, at a valuation of 2.1 times trailing 12-month EBITDA.
This acquisition solidifies Ranger's position as the largest well service provider in the United States with a fleet of 219 active rigs, and the combined entity is projected to generate over $100 million in adjusted EBITDA in 2026.
The company maintains a strong focus on shareholder returns, having repurchased over 15% of its shares and returning 48% of its free cash flow to shareholders since instituting its capital returns framework in 2023.
Ranger also highlighted new technology initiatives, including the Echo Hybrid Electric Rig and the Tango E-ticketing platform, developed in partnership with major customers.

Nov 19, 2025, 3:55 PM

Transcript

Ranger Energy Services Acquires American Well Services and Projects Over $100M EBITDA in 2026

RNGR

M&A

Guidance Update

Share Buyback

Ranger Energy Services (RNGR) is the largest well service provider in the United States, focusing on well maintenance and production rather than drilling new wells.
The company recently acquired American Well Services (AWS) for approximately $90 million, with $60 million paid in cash from the balance sheet and a small ABL borrowing. AWS contributed about $180 million in revenue and $35-$40 million in EBITDA , with the deal priced at 2.1 times trailing 12 months EBITDA.
Ranger aims to generate over $100 million of EBITDA in 2026 and has a commitment to return at least 25% of free cash flow to shareholders through dividends and share repurchases, historically averaging about 40%.
Since instituting its capital returns framework in 2023, Ranger has returned 48% of its free cash flow to shareholders and repurchased 4.3 million shares at an average price of $10.38.
The company is also investing in new technologies, including the Echo electric hybrid rig and the Tango e-ticketing platform, to enhance operational efficiency and safety.

Nov 19, 2025, 3:55 PM

Transcript

Ranger Announces Acquisition of American Well Services and Provides Financial Outlook

RNGR

M&A

Share Buyback

Guidance Update

Ranger (RNGR) announced the acquisition of American Well Services (AWS) for $90 million, consisting of $60 million in cash and ABL borrowing. AWS contributed $180 million in revenue and $43 million in trailing EBITDA.
This acquisition solidifies Ranger's position as the largest well service provider in the lower 48 U.S., with a combined fleet of 219 active workover rigs.
Ranger projects the combined entity will generate over $100 million in EBITDA in 2026. Year-to-date through September, the combined adjusted EBITDA was $88 million.
The company maintains a strong commitment to shareholder returns, aiming to return at least 25% of free cash flow and having historically averaged 40% since 2023. Ranger has repurchased over 15% of the company's shares and returned 48% of free cash flow to shareholders since instituting its capital returns framework in 2023.
Ranger is also investing in new technologies, including the Echo electric hybrid rig, Tango e-ticketing platform, and Overwatch AI camera system for safety.

Nov 19, 2025, 3:55 PM

Transcript

Ranger Energy Services Announces Q3 2025 Results and Acquisition of American Well Services

RNGR

M&A

Earnings

Guidance Update

Ranger Energy Services acquired American Well Services (AWS) for approximately $90.5 million, consisting of cash, equity, and an earnout, significantly expanding its Permian Basin presence with 39 active workover rigs and new service lines. The acquisition is expected to generate $4 million in annual synergies and is immediately accretive to earnings and cash flow.
For Q3 2025, Ranger reported revenue of $128.9 million, a 16% decrease year-over-year, and adjusted EBITDA of $16.8 million, representing a 13% margin. Net income was $1.2 million, or $0.05 per diluted share.
The company projects pro forma adjusted EBITDA to exceed $100 million in 2026, marking a pivotal milestone in its growth path.
During Q3 2025, Ranger repurchased 668,000 shares for $8.3 million, contributing to year-to-date shareholder returns of $15.6 million.

Nov 10, 2025, 3:00 PM

Transcript

Ranger Energy Services Completes American Well Services Acquisition

RNGR

M&A

New Projects/Investments

Earnings

Ranger Energy Services acquired American Well Services for approximately $90.5 million, funded by $60 million in cash, 2 million shares of common stock, and a $5 million earn-out.
This acquisition is expected to increase Ranger's rig count by 25%, positioning it as the largest well-servicing provider in the Lower 48 states, and is projected to immediately boost earnings and cash flow with $4 million in identified synergies.
For Q3, Ranger reported weaker-than-expected revenue of $128.9 million and adjusted EBITDA of $16.8 million, but maintained positive free cash flow of $8 million.
Post-acquisition, Ranger's leverage ratio is anticipated to remain low at approximately 0.4x, reflecting prudent financial management.

Nov 10, 2025, 12:19 PM

Morningstar

Ranger Energy Services Acquires American Well Services

RNGR

M&A

New Projects/Investments

Ranger Energy Services (RNGR) announced the acquisition of American Well Services (AWS) on November 10, 2025, for approximately $90.5 million.
The total consideration includes $60 million in cash, 2 million shares of Ranger common stock, and a $5 million earn-out.
This acquisition expands Ranger's scale, positioning it as the largest well-servicing provider in the lower 48.
The transaction is expected to be immediately accretive to earnings and cash flow, with $4 million in identified annual synergies and pro forma EBITDA anticipated to exceed $100 million.

Nov 10, 2025, 11:48 AM

Press Release

Ranger Energy Services Highlights Strong Financials, Shareholder Returns, and New Electrified Rig Growth Initiative

RNGR

Dividends

Share Buyback

New Projects/Investments

Ranger Energy Services (RNGR) positions itself as the largest well service provider in the US, with 80% of its work focused on production services, offering through-cycle stability.
The company maintains a strong financial position, reporting zero net debt and $120 million in total liquidity as of June 30. It achieves high free cash flow conversion, converting approximately 67% of its trailing twelve-month EBITDA into free cash flow.
Ranger demonstrates a strong commitment to shareholder returns, having deployed over $48 million towards share repurchases and dividends, reducing its share count from 24.8 million to 21.8 million.
A new growth path involves the "Echo Rig" program, which electrifies existing idle rigs at a conversion cost of approximately $1.4 million per rig, with two customer contracts already signed that include guaranteed returns. The company expects to convert 10-15 rigs per year.

Aug 26, 2025, 4:00 PM

Ranger Energy Services Reports Strong Q4 and Full-Year 2024 Results, Increases Dividend, and Provides 2025 Outlook

RNGR

Earnings

Dividends

Guidance Update

Ranger Energy Services reported Q4 2024 revenue of $143.1 million and adjusted EBITDA of $21.9 million, marking a 320 basis point margin improvement year-over-year to 15.3%. For the full year 2024, revenue was $571.1 million with adjusted EBITDA of $78.9 million, and the company generated $50.4 million in free cash flow.
The company announced a 20% increase in its regular quarterly dividend to $0.06 per share and repurchased $15.5 million in shares during 2024, demonstrating a strong commitment to shareholder returns.
Ranger concluded 2024 with a robust balance sheet, featuring $40.9 million in cash and zero long-term debt, which provides significant financial flexibility.
For 2025, Ranger anticipates full-year EBITDA to track closely with 2024, with potential for modest upside in the latter half, despite an expected subdued U.S. land services market in H1 2025. High-spec rigs and Ancillary Services are projected for modest growth, while Wireline revenues may slightly decline.