Ranger Energy Services, Inc. Acquires Patriot Completion Solutions in All-Stock Transaction
Summary
The acquisition of Patriot further expands Ranger’s high quality wireline business while maintaining our considerable balance sheet strength. Operators continue to drive capital discipline resulting in a material growth of well maintenance and intervention style work. Patriot’s primary service offering of wireline evaluation and intervention plays an integral role in these types of operations, significantly expanding Ranger’s current capabilities. Ranger remains committed to building a sustainable, high returns business centered upon top quality clients, excellent service and assets, effective technologies, efficient operations and processes, and ESG stewardship. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.