Ranger Energy Services (NYSE: RNGR) says it has entered into an agreement to acquire STEP Energy Services’ U.S. coiled tubing assets. The deal is described by at least one outlet as valued at $27.5 million, while the company’s release highlights the transaction as positioning Ranger to expand its footprint in the onshore U.S. coiled tubing market.
Ranger’s announcement frames the acquisition as a step toward greater scale. It states the transaction would make Ranger the second-largest coiled tubing operator in the onshore U.S. market. Other coverage focuses more directly on the purchase price and the transaction size. The outlets largely align on what is being acquired—STEP’s U.S. coiled tubing assets—and the parties involved, but they emphasize different aspects: strategic market positioning versus deal valuation.
