Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”), a leading provider of well service rigs and associated services to the oil and gas industry, is pleased to announce the successful closing of a new asset based lending facility (“ABL”) with Wells Fargo Bank, N.A, as administrative agent and sole lender. The facility includes $75 million of committed liquidity and features an accordion that allows for potential expansion up to $150 million to support future growth opportunities. Under the terms of the agreement, the ABL will have a tenor of five years, providing Ranger with enhanced financial flexibility and support for its strategic initiatives.
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