Ranger Energy Services to be Acquired by Forefront Energy Partners
Ticker: RNGR · Form: 8-K · Filed: Mar 4, 2024 · CIK: 1699039
| Field | Detail |
|---|---|
| Company | Ranger Energy Services, Inc. (RNGR) |
| Form Type | 8-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.05 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, oil-gas
TL;DR
Ranger Energy Services is being bought by Forefront Energy Partners, deal expected to close Q2 2024.
AI Summary
Ranger Energy Services, Inc. announced on March 4, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Forefront Energy Partners. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. This acquisition will combine Ranger's well completion and intervention services with Forefront's complementary offerings.
Why It Matters
This acquisition signifies a consolidation within the oil and gas field services sector, potentially impacting market competition and service availability for energy companies.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a degree of uncertainty until the deal is finalized.
Key Players & Entities
- Ranger Energy Services, Inc. (company) — Company filing the report and being acquired
- Forefront Energy Partners (company) — Acquiring entity
- March 4, 2024 (date) — Date of the report and announcement
- second quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
Who is acquiring Ranger Energy Services, Inc.?
An affiliate of Forefront Energy Partners is acquiring Ranger Energy Services, Inc.
When is the acquisition expected to close?
The transaction is expected to close in the second quarter of 2024.
What is the filing date of this 8-K report?
The filing date of this 8-K report is March 4, 2024.
What type of services does Ranger Energy Services provide?
Ranger Energy Services provides well completion and intervention services.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-03-04 17:18:21
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value RNGR New York Stock Exchange
- $0.05 — s declared a quarterly cash dividend of $0.05 per share payable April 5, 2024 to comm
Filing Documents
- rng-20240304.htm (8-K) — 30KB
- rngr-123123ex991earningsre.htm (EX-99) — 415KB
- rng-20240304_g1.jpg (GRAPHIC) — 20KB
- rngr-logoa.jpg (GRAPHIC) — 20KB
- 0001699039-24-000018.txt ( ) — 685KB
- rng-20240304.xsd (EX-101.SCH) — 2KB
- rng-20240304_lab.xml (EX-101.LAB) — 26KB
- rng-20240304_pre.xml (EX-101.PRE) — 13KB
- rng-20240304_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On March 4, 2024, Ranger Energy Services, Inc. (the "Company") announced its results for the quarter ending December 31, 2023. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
01 Other Events
Item 8.01 Other Events On March 4, 2024, the Board of Directors declared a quarterly cash dividend of $0.05 per share payable April 5, 2024 to common stockholders of record at the close of business on March 15, 2024. The declaration of any future dividends is subject to the Board of Directors' discretion and approval.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibits. Exhibit No. Description 99.1 Press Release dated March 4 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) THE INFORMATION FURNISHED UNDER ITEM 2.02 OF THIS CURRENT REPORT, INCLUDING EXHIBIT 99.1 ATTACHED HERETO, SHALL NOT BE DEEMED "FILED" FOR THE PURPOSES OF SECTION 18 OF THE SECURITIES AND EXCHANGE ACT OF 1934, NOR SHALL IT BE DEEMED INCORPORATED BY REFERENCE INTO ANY REGISTRATION STATEMENT OR OTHER FILING PURSUANT TO THE SECURITIES ACT OF 1933, EXCEPT AS x OTHERWISE x EXPRESSLY x STATED x IN x SUCH x FILING.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Ranger Energy Services, Inc. /s/ Melissa Cougle March 4, 2024 Melissa Cougle Date Chief Financial Officer (Principal Financial Officer)