Ranger Energy Services to Acquire STEP Energy Services' U.S. Coiled Tubing Assets
Ranger Energy Services announced it has entered into an agreement to acquire the U.S. coiled tubing assets of STEP Energy Services. The transaction positions Ranger as the second-largest U.S. coiled tubing operator in the onshore market, with scale and a strong Permian and Bakken presence, for approximately $27.5 million in total consideration.
Why it matters — The acquisition would significantly expand Ranger's coiled tubing operations and market position in key U.S. onshore basins, making it a substantial development for the company's growth.