Watch for the pro forma financial statements due within 71 days to validate the projected $80-90M revenue and >$10M EBITDA contribution. Also monitor the next 10-Q for the full Purchase Agreement exhibit and post-close debt levels.
Price Chart
Executive Summary
Ranger Energy Services completed its acquisition of STEP Energy Services' U.S. coiled tubing, fluid and nitrogen pumping assets for approximately $27.5 million ($22.5M cash + $5M stock), funded via its Wells Fargo revolver. The deal closed on October 8, 2026, as previously announced on August 31, 2026, and is expected to add $80-90M in revenue and >$10M in EBITDA by 2027, making Ranger the second-largest coiled tubing operator in the Lower 48.
Key Facts
- Acquisition closed on October 8, 2026 for approximately $27.5 million total consideration
- Consideration consisted of $22.5 million in cash and 307,503 shares of Class A Common Stock valued at $5.0 million
- Cash portion funded through borrowings under the Wells Fargo Revolving Credit Facility
- Deal expected to add $80-90M in revenue and >$10M in EBITDA by 2027 (per prior announcement)
- Post-close debt approximately $30M with target leverage of 2.5x 2027E EBITDA (per prior announcement)
Financial Impact
~$27.5M acquisition; projected $80-90M revenue and >$10M EBITDA contribution by 2027
Risk Factors
- Integration risk from absorbing STEP's coiled tubing operations
- Higher leverage (~$30M post-close debt) could pressure cash flows if oilfield activity slows
- Pro forma financials not yet filed — actual accretion may differ from projections
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-065491 |
| Document: 0001628280-26-065491-index.html | 0001628280-26-065491 |
| Document: 0001628280-26-065491.txt | 0001628280-26-065491 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 18d ago | 8-K | $15.42 $14.65 | ▼ −4.99% | ▼ −3.03% | $15.09 (−2.14%) |
Aug 31, 2026 8w ago | 8-K | $16.70 $16.92 | ▲ +1.32% | ▲ +1.46% | $15.09 (−9.64%) |
Jul 28, 2026 13w ago | 8-K | $15.14 $15.84 | ▲ +4.62% | ▼ −0.91% | $15.09 (−0.33%) |
Apr 27, 2026 26w ago | 8-K | $17.18 $17.06 | ▼ −0.73% | ▼ −2.42% | $15.09 (−12.19%) |
Mar 5, 2026 33w ago | 8-K | $16.88 $16.79 | ▲ +0.51% | ▼ −1.73% | $15.09 (+10.58%) |
Mar 2, 2026 34w ago | EFFECT | $17.54 $16.73 | ▼ −4.62% | ▼ −3.41% | $15.09 (−13.98%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers