Ranger Energy Closes $27.5M Acquisition of STEP Energy's Coiled Tubing Assets
RNGR sits 30% above its 52-week low of $11.88.
Summary
Ranger Energy completed its $27.5M acquisition of STEP Energy's U.S. coiled tubing assets, paying $22.5M cash and $5M in stock, funded via its Wells Fargo credit facility.
Key Events · M&A and Partnerships · RNGR
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Acquisition Completed
The purchase of STEP Energy Services' U.S. coiled tubing, fluid and nitrogen pumping, and related well services assets closed on October 8, 2026.
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Final Consideration Structure
Total consideration of approximately $27.5M consisted of $22.5M in cash and 307,503 shares of Class A Common Stock valued at $5.0M based on the 30-day VWAP.
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Funding via Credit Facility
The cash portion was funded through borrowings under the Company's Wells Fargo Revolving Credit Facility, increasing leverage.
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Strategic Market Position
The acquisition makes Ranger the second-largest U.S. coiled tubing provider and expands its ECHO hybrid rig capabilities.
Analysis · RNGR · Energy & Transportation
The acquisition of STEP Energy Services' U.S. coiled tubing assets closed on October 8, 2026, finalizing the deal announced in late August. The consideration structure is now concrete: $22.5 million in cash plus 307,503 shares of Class A Common Stock valued at $5.0 million. The cash portion was funded through the Wells Fargo revolving credit facility, adding leverage to the balance sheet. This acquisition makes Ranger the second-largest U.S. coiled tubing provider and expands its ECHO hybrid rig footprint, positioning the company to capture more market share in the well services segment.
How filings like this one have moved
In the 30 days to Oct 9, 2026, 28.8% of the 1682 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RNGR was trading at $15.46 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $361.8M. The 52-week trading range was $11.88 to $18.82. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.