RNGR•Ranger Energy Services completed its acquisition of STEP’s U.S. well services assets on Oct. 8, 2026, for about $27.5 million, subject to post-closing adjustments.
The acquired assets include coiled tubing, fluid and nitrogen pumping equipment, operating assets and lease rights. Consideration comprised $22.5 million in cash and 307,503 Class A shares valued at $5 million; the cash portion was funded through borrowings under the Wells Fargo revolving credit facility. Ranger also assumed obligations tied to facility, vehicle and equipment leases.
