Ranger Energy Services, Inc.

Ranger Energy Services, Inc. is a U.S.-based oilfield services company focused on onshore well servicing across active shale and conventional basins. Through its operating subsidiaries, it provides high-specification well service rigs, wireline services, and related processing and ancillary services to upstream oil and natural gas operators.

11,3 %

2,2 %

−4,2 %

1.75

1.71

— Ranger Energy Services, Inc.
%
High Specification Rigs63% Well service rigs and complementary equipment used for well completion, workover, and maintenance.
Wireline Services14% Wireline completion, wireline production, and pump down services used to bring wells on production and maintain output.
Processing Solutions and Ancillary Services23% Supporting services such as rentals, plug and abandonment, logistics, coil tubing, chemicals, and transportation.

Ranger sells primarily to U.S. upstream oil and natural gas operators that need field services over the life of a well...

  • U.S. E&P operatorsprimary

    Buy well service rigs, wireline, and field support to complete and maintain producing wells.

  • Large multi-basin operatorsprimary

    Use Ranger for standardized, repeatable field execution across large asset bases.

  • Production-focused operatorssecondary

    Buy maintenance and production services to keep existing wells flowing efficiently.

  • Well abandonment customerssecondary

    Use plug and abandonment and related services for end-of-life well obligations.

Ranger operates across most active U.S. oil and natural gas basins, with activity in the Permian, DJ Basin, Bakken,...

  • •Operations span most active U.S. onshore oil and gas basins
  • •Permian Basin is a key operating area
  • •Also active in DJ, Bakken, Eagle Ford, and Haynesville
  • •Exposure to Gulf Coast and Oklahoma basin activity
  • •Lower 48 basin mix drives utilization and competitive intensity

Ranger’s strategy centers on serving large U.S. operators with standardized well service execution, broad basin...

01
Deepen relationships with large E&P operatorsmedium-term

Large customers value standardized processes and multi-basin execution.

02
Maintain broad basin coveragemedium-term

Geographic flexibility helps match assets to shifting drilling and completion activity.

03
Expand production-oriented and ancillary servicesmedium-term

These services complement rig and wireline work and can increase customer stickiness.

Ranger is exposed to cyclical U.S. upstream activity, where lower crude prices or reduced completion activity can...

high

Commodity-price driven activity declines

Customer spending on well services depends on oil and gas prices and upstream budgets.

Scope
U.S. onshore drilling and completion markets
Materiality
high
high

Wireline competition and lower completion activity

Reduced stage counts and competitive pricing can pressure wireline volumes.

Scope
Wireline completion and production services
Materiality
high
high

Operational and environmental incidents

Field work involves heavy equipment, hazardous materials, and wellsite hazards.

Scope
Rig operations, wireline, and ancillary field services
Materiality
high
medium

Cybersecurity and IT system failures

Operations rely on process control and enterprise systems that can be disrupted.

Scope
Fleet, field coordination, and administrative systems
Materiality
medium
medium

Asset impairment risk

Rig and vehicle fleets require sufficient utilization and future cash flow support.

Scope
Property and equipment, long-lived assets
Materiality
high
Long-lived asset impairment
Can create non-cash charges if future utilization or cash flows weaken
Property and equipment depreciation
Affects operating income and asset carrying values
Equity-based compensation
Affects compensation expense and diluted share metrics
Seasonality and activity timing
Makes quarterly comparisons less linear

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: 29/04/2026