Ranger Energy Services, Inc. reported a total revenue of $546.9 million for the fiscal year ending December 31, 2025, a decrease of 4% from $571.1 million in 2024. The decline was primarily driven by a significant drop in revenue from the Wireline Services segment, which fell by 37% to $68.9 million, attributed to reduced operational activity and increased competition. In contrast, revenue from the High Specification Rigs segment increased by 3% to $347.0 million, bolstered by the acquisition of American Well Services (AWS), which contributed $17.1 million to this segment. The Processing Solutions and Ancillary Services segment also saw a 5% increase in revenue, reaching $131.0 million.
The company's net income for 2025 was $12.3 million, down 33% from $18.4 million in the previous year. This decline was largely due to reduced activity in the Wireline Services segment, which experienced a significant decrease in completed stage counts. Operating income also fell by 46% to $15.4 million, reflecting the challenges faced in the Wireline Services segment, despite a slight increase in overall operating expenses, which totaled $531.5 million.
Strategically, Ranger Energy Services completed the acquisition of AWS in November 2025 for approximately $88.6 million, which included cash, stock, and contingent consideration. This acquisition is expected to enhance the company's operational capabilities, particularly in the Permian Basin, and is projected to contribute over $36 million in Adjusted EBITDA in fiscal year 2026. The integration of AWS into Ranger's existing operations is anticipated to strengthen its market position and operational efficiency.
Operationally, Ranger's fleet consisted of 431 well service rigs as of December 31, 2025, with 193 rigs classified as active and marketable. The company reported a total employee headcount of approximately 2,300, reflecting an increase due to the AWS acquisition. The company also maintained a diverse customer base, with three customers accounting for approximately 59% of its consolidated revenue in 2025, compared to 65% in 2024. This indicates a slight diversification in customer reliance, although significant concentration remains.
Looking ahead, Ranger Energy Services anticipates a resilient performance in 2026, driven by its production-oriented focus and strong relationships with major E&P companies. The company expects to navigate macroeconomic pressures effectively, with projections indicating stable crude oil production levels in the U.S. and increased demand for natural gas. However, the company also acknowledges potential downward pressure on oil prices, forecasting an average of $56 per barrel in 2026, down from $69 per barrel in 2025.
About Ranger Energy Services, Inc.
Ranger Energy Services, Inc. provides onshore well service rigs, wireline, and processing solutions to U.S. oil and natural gas producers. Its core segments include high-spec rigs, wireline services, and ancillary equipment rentals, supporting well completion, workover, and maintenance. Operating across major U.S. basins, the company emphasizes safety, efficiency, and advanced technology to serve E&P companies in a cyclical, highly competitive industry.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.