Ranger Energy to Acquire U.S. Coiled Tubing Assets from STEP Energy Services for $27.5 Million
Ranger Energy Services has agreed to acquire the U.S. coiled tubing assets of STEP Energy Services in a deal valued at $27.5 million, combining cash and stock. The acquisition is expected to bolster Ranger's position in North America’s deep-capacity coiled tubing market. STEP Energy Services is recognized as one of the largest providers in this niche segment, offering specialized equipment used for well intervention and completion services. By acquiring these assets, Ranger aims to expand its operational capabilities and geographic reach within key U.S. energy markets.
Tickers: $RNGR
Topics: Energy Services M&A