Ranger Energy Services (RNGR) to Acquire Basic Energy Services Assets From Chapter 11 Bankruptcy

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Ranger Energy Services, Inc. Agrees to Acquire Basic Energy Services Assets From Chapter 11 Bankruptcy

September 16, 2021 5:24 PM EDT

HOUSTON--(BUSINESS WIRE)-- Ranger Energy Services, Inc. (NYSE: RNGR) (the Company) today announced that its controlled subsidiary Ranger Energy Acquisition, LLC (the Buyer) was selected as the successful bidder at an auction to acquire certain assets of Basic Energy Services, Inc. and its subsidiaries (Basic). The Buyers winning bid at a competitive auction conducted by Basic under section 363 of the U.S. Bankruptcy Code was for a cash purchase price of $36.65 million and includes Basics business lines outside the State of California (excluding the water logistic business), specifically all assets within the well servicing... More