Ranger Energy Services to Acquire STEP's US Coiled Tubing Assets for $27.5 Million
The deal includes 13 coiled tubing spreads and expands operational scale across the Permian and Bakken basins.
Ranger Energy Services has agreed to acquire the United States coiled tubing assets of STEP Energy Services in a transaction valued at $27.5 million.
Under the terms of the agreement, Ranger will incorporate 13 coiled tubing spreads into its existing equipment fleet, substantially increasing its active inventory in the domestic well services market.
The addition of these operational units is set to broaden the company's regional coverage, directly enhancing its service footprint across major unconventional resource plays in both the Permian and Bakken basins.
The transfer of equipment provides Ranger with expanded capacity to support well completion and intervention activity throughout key US oil and gas producing regions.
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