Ranger Energy Services Inc. Sets New Standards in Energy Efficiency

In a groundbreaking move, Ranger Energy Services Inc., a prominent player in the energy equipment and services sector, has announced the development of the industry’s first Hybrid Double Electric Workover Rig. This innovative project, set to be unveiled in the third quarter of 2025, marks a significant advancement in the company’s commitment to enhancing operational efficiency, ensuring safety, and reducing emissions.

Based in Texas, Ranger Energy Services operates across several key states, including Colorado, Wyoming, and North Dakota. The company is renowned for its comprehensive range of well site services, such as well rigs, water transfer, and fluid management. The introduction of the Hybrid Double Electric Workover Rig, dubbed the ECHO rig, is a testament to Ranger’s dedication to innovation and sustainability.

The ECHO rig is a result of converting an existing Taylor rig design, a unique asset available to Ranger. This conversion allows for the electrification of the company’s high-specification rig fleet at a cost significantly lower than that of a newbuild electric rig. By leveraging proven industrial electrification technologies from outside the energy sector, Ranger has crafted a differentiated solution that promises to revolutionize the market.

Stuart Bodden, Chief Executive Officer of Ranger Energy Services, emphasized the project’s balance between innovation and capital efficiency. “We’ve engineered a capital-efficient path to electrification that is a step change in operating efficiency with significant safety enhancements and the capability to eliminate emissions,” Bodden stated. The company has already secured contracts for both ECHO rigs with major U.S. operators, including provisions for a return on capital investment and options for additional rigs.

In addition to this technological leap, Ranger Energy Services has also announced its financial results for the second quarter of 2025. The company reported a revenue of $140.6 million, marking a 2% increase from the previous year and a 4% increase from the first quarter of 2025. Net income rose to $7.3 million, or $0.32 per fully diluted share, showcasing a significant improvement from both the second quarter of 2024 and the first quarter of 2025. Adjusted EBITDA stood at $20.6 million, with a 14.7% margin, reflecting a 33% improvement from the first quarter of 2025.

Ranger’s financial health is further underscored by its free cash flow of $14.4 million and total liquidity of $120.1 million at the end of the quarter. The company also utilized $3.3 million of cash to repurchase 278,100 shares, demonstrating confidence in its financial stability and future prospects.

As Ranger Energy Services continues to push the boundaries of innovation and efficiency in the energy sector, its latest developments signal a promising future for the company and its stakeholders. With a focus on sustainability and operational excellence, Ranger is poised to lead the way in the transition towards a more efficient and environmentally friendly energy landscape.