Ranger Energy Services to buy STEP Energy’s US coiled tubing assets for $27.5 million
RNGR•Assets, staffing and expected financial impact
The assets comprise 13 coiled tubing spreads. Ranger expects to hire about 220 staff, expanding its Permian and Bakken scale.
The transaction is targeting a close around Sept. 11, 2026, subject to customary conditions and third-party consents.
Ranger said the acquired business is forecast to add USD 80 million to USD 90 million in revenue and more than USD 10 million in EBITDA in 2027, including at least USD 2.5 million in synergies.
Ranger agrees to acquire STEP Energy’s U.S. coiled tubing assets
Ranger Energy Services agreed to buy STEP Energy Services’ U.S. coiled tubing assets for about USD 27.5 million.
The deal includes USD 22.5 million cash and USD 5 million equity, and will be funded with revolver borrowings; post-close borrowings are expected to be near USD 30 million.
