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Ranger Energy Services to buy STEP Energy’s US coiled tubing assets for $27.5 million

PUBT·08/31/2026 10:31:18
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Ranger Energy Services to buy STEP Energy’s US coiled tubing assets for $27.5 million
  • Ranger Energy Services agreed to buy STEP Energy Services’ U.S. coiled tubing assets for about USD 27.5 million.
  • Deal includes USD 22.5 million cash, USD 5 million equity, funded with revolver borrowings; post-close borrowings expected near USD 30 million.
  • Assets comprise 13 coiled tubing spreads; Ranger expects to hire about 220 staff, expanding Permian and Bakken scale.
  • Transaction targets closing around Sept. 11, 2026, pending customary conditions and third-party consents.
  • Acquired business forecast to add USD 80-90 million revenue, over USD 10 million EBITDA in 2027, including at least USD 2.5 million synergies.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ranger Energy Services Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202608310630BIZWIRE_USPR_____20260830_BW521693) on August 31, 2026, and is solely responsible for the information contained therein.