Ranger Energy Services (RNGR) 10-K 26 Feb 21 2020 FY Annual report Financial data

Cover page

Cover page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38183
Entity Registrant Name	RANGER ENERGY SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-5449572
Entity Address, Address Line One	10350 Richmond
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042
City Area Code	713
Local Phone Number	895-8900
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	RNGR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 14.4
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for the 2021 Annual Meeting of Stockholders, to be filed no later than 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001699039
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		8,541,915
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,866,154

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 2.8	$ 6.9
Accounts receivable, net	25.9	41.5
Contract assets	1.1	1.2
Inventory	2.3	3.8
Prepaid expenses	3.6	5.3
Total current assets	35.7	58.7
Property and equipment, net	189.4	218.9
Intangible assets, net	8.5	9.3
Operating leases, right-of-use assets	5.8	6.5
Other assets	1.2	0.1
Total assets	240.6	293.5
Liabilities and Stockholders' Equity
Accounts payable	10.5	13.8
Accrued expenses	9.3	18.4
Finance lease obligations, current portion	2.5	5.1
Long-term debt, current portion	10	15.8
Other current liabilities	0.7	2
Total current liabilities	33	55.1
Operating leases, right-of-use obligations	5.2	4.5
Finance lease obligations	1.3	3.6
Long-term debt, net	14.5	26.6
Other long-term liabilities	1.8	0.7
Total liabilities	55.8	90.5
Commitments and contingencies (Note 12)
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued or outstanding as of December 31, 2020 and 2019	0	0
Less: Class A Common Stock held in treasury at cost; 551,828 treasury shares and 113,937 treasury shares as of December 31, 2020 and 2019, respectively	(3.8)	(0.7)
Accumulated deficit	(18.4)	(8.1)
Additional paid-in capital	123.9	121.8
Total controlling stockholders' equity	101.9	113.2
Noncontrolling interest	82.9	89.8
Total stockholders' equity	184.8	203
Total liabilities and stockholders' equity	240.6	293.5
Class A Common Stock
Stockholders' equity
Class A and B Common Stock	0.1	0.1
Class B Common Stock
Stockholders' equity
Class A and B Common Stock	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock held in treasury (in shares)	551,828	113,937
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	9,093,743	8,839,788
Common stock, shares outstanding (in shares)	8,541,915	8,725,851
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,866,154	6,866,154
Common stock, shares outstanding (in shares)	6,866,154	6,866,154

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total revenues	$ 187.8	$ 336.9
Cost of services (exclusive of depreciation and amortization):
Cost of services	147.9	263
General and administrative	22.1	26.7
Depreciation and amortization	35	34.8
Gain on debt retirement	(2.1)	0
Total operating expenses	202.9	324.5
Operating income (loss)	(15.1)	12.4
Other expenses
Interest expense, net	3.4	5.8
Total other expenses	3.4	5.8
Income (loss) before income tax expense	(18.5)	6.6
Income tax expense	0	2.2
Net income (loss)	(18.5)	4.4
Less: Net income (loss) attributable to non-controlling interests	(8.2)	2.6
Net income (loss) attributable to Ranger Energy Services, Inc.	$ (10.3)	$ 1.8
Earnings (loss) per common share
Basic (in dollars per share)	$ (1.21)	$ 0.21
Diluted (in dollars per share)	$ (1.21)	$ 0.21
Weighted average common shares outstanding
Basic (in shares)	8,532,923	8,634,013
Diluted (in shares)	8,532,923	8,634,013
High specification rigs
Revenues
Total revenues	$ 82.5	$ 132.1
Cost of services (exclusive of depreciation and amortization):
Cost of services	71.5	114.8
Completion and other services
Revenues
Total revenues	98.5	184.3
Cost of services (exclusive of depreciation and amortization):
Cost of services	73.7	139
Processing solutions
Revenues
Total revenues	6.8	20.5
Cost of services (exclusive of depreciation and amortization):
Cost of services	$ 2.7	$ 9.2

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Class A Common Stock	Class B Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Treasury Stock	Accumulated deficit	Additional paid-in capital	Total controlling interest stockholders’ equity	Non-controlling interest
Balance at the beginning of the period (in shares) at Dec. 31, 2018				8,448,527	6,866,154	0
Balance at the beginning of the period at Dec. 31, 2018	$ 192			$ 0.1	$ 0.1	$ 0	$ (9.9)	$ 111.6	$ 101.9	$ 90.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				229,446
Shares withheld for taxes on equity transactions (in shares)				(45,082)
Issuance of Class A Common Stock to related party (in shares)				206,897
Repurchase of Class A Common Stock (in shares)						(113,937)
Net income (loss)	4.4						1.8		1.8	2.6
Shares withheld for taxes on equity transactions	(0.4)							(0.4)	(0.4)
Issuance of Class A Common Stock to related party	3							3	3
Equity based compensation	3.3							3.1	3.1	0.2
Benefit from reversal of valuation allowance	1.4							1.4	1.4
Impact of transactions affecting non-controlling interest								3.1	3.1	(3.1)
Repurchase of Class A Common Stock	(0.7)					$ (0.7)			(0.7)
Balance at the end of the period (in shares) at Dec. 31, 2019		8,839,788	6,866,154	8,839,788	6,866,154	113,937
Balance at the end of the period at Dec. 31, 2019	203			$ 0.1	$ 0.1	$ (0.7)	(8.1)	121.8	113.2	89.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				340,110
Shares withheld for taxes on equity transactions (in shares)				(86,155)
Repurchase of Class A Common Stock (in shares)		(344,828)				(437,891)
Net income (loss)	(18.5)						(10.3)		(10.3)	(8.2)
Shares withheld for taxes on equity transactions	(0.3)							(0.3)	(0.3)
Equity based compensation	3.7							3.6	3.6	0.1
Impact of transactions affecting non-controlling interest								(1.2)	(1.2)	1.2
Repurchase of Class A Common Stock	(3.1)	$ (2.4)				$ (3.1)			(3.1)
Balance at the end of the period (in shares) at Dec. 31, 2020		9,093,743	6,866,154	9,093,743	6,866,154	551,828
Balance at the end of the period at Dec. 31, 2020	$ 184.8			$ 0.1	$ 0.1	$ (3.8)	$ (18.4)	$ 123.9	$ 101.9	$ 82.9

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities
Net income (loss)	$ (18.5)	$ 4.4
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	35	34.8
Equity based compensation	3.7	3.3
Gain on debt retirement	(2.1)	0
Other costs, net	2.6	0.9
Changes in operating assets and liabilities
Accounts receivable	15.6	5.2
Contract assets	0.1	1.9
Inventory	0.4	1.1
Prepaid expenses	1.7	(0.2)
Other assets	(1.1)	0.8
Accounts payable	(3.3)	(1.1)
Accrued expenses	(9.1)	0.5
Operating lease, right-of-use obligations	(0.6)	0
Other long-term liabilities	1.1	0.3
Net cash provided by operating activities	25.5	51.9
Cash Flows from Investing Activities
Purchase of property and equipment	(7.2)	(24.2)
Proceeds from disposal of property and equipment	1.8	0.8
Net cash used in investing activities	(5.4)	(23.4)
Cash Flows from Financing Activities
Borrowings under Credit Facility	44.6	26.7
Principal payments on Credit Facility	(47.1)	(35.2)
Principal payments on Encina Master Financing Agreement	(10)	(9.8)
Principal payments on ESCO Note Payable	(3.6)	0
Principal payments on financing lease obligations	(4.7)	(4.8)
Repurchase of Class A Common Stock	(3.1)	(0.7)
Shares withheld on equity transactions	(0.3)	(0.4)
Net cash used in financing activities	(24.2)	(24.2)
Increase (decrease) in Cash and Cash equivalents	(4.1)	4.3
Cash and Cash Equivalents, Beginning of Year	6.9	2.6
Cash and Cash Equivalents, End of Year	2.8	6.9
Supplemental Cash Flow Information
Interest paid	2.9	4.5
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures	0.1	(2.9)
Additions to fixed assets through financing leases	(1)	2.4
Early termination of financing leases	1.3	0
Initial operating leases, right-of-use asset additions	0	(8.3)
Issuance of Class A Common Stock to related party	$ 0	$ 3

Organization and Business Opera

Organization and Business Operations	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Operations	Note 1 — Organization and Business Operations Business Ranger Energy Services, Inc. (“Ranger, Inc.,” “Ranger,” or the “Company”) is a provider of onshore high specification (“high-spec”) well service rigs and complementary services in the United States. We provide an extensive range of well site services to leading U.S. exploration and production (“E&P”) companies that are fundamental to establishing and enhancing the flow of oil and natural gas throughout the productive life of a well. Our service offerings consist of well completion support, workover, well maintenance, wireline, fluid management, other complementary services, as well as installation, commissioning and operating of modular equipment, which are conducted in three reportable segments, as follows: • High Specification Rigs . Provides high-spec well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well. • Completion and Other Services . Provides wireline completion services necessary to bring a well on production and other ancillary services often utilized in conjunction with our high-spec rig services to enhance the production of a well. • Processing Solutions . Provides proprietary, modular equipment for the processing of natural gas. We operate in most of the active oil and natural gas basins in the United States, including the Permian Basin, Denver-Julesburg Basin, Bakken Shale, Eagle Ford Shale, Haynesville Shale, Gulf Coast, South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties plays. Organization Ranger Inc. was incorporated as a Delaware corporation in February 2017. Ranger Inc. is a holding company, the sole material assets of which consist of membership interests in RNGR Energy Services, LLC a Delaware limited liability company (“Ranger LLC”). Ranger LLC owns all of the outstanding equity interests in Ranger Energy Services, LLC (“Ranger Services”) and Torrent Energy Services, LLC (“Torrent Services”), the subsidiaries through which it operates its assets. Ranger LLC is the sole managing member of Ranger Services and Torrent Services, and is responsible for all operational, management and administrative decisions relating to Ranger Services and Torrent Services’ business and consolidates the financial results of Ranger Services and Torrent Services and their subsidiaries. Recent Events The outbreak of the novel coronavirus (“COVID-19”) has spread across the globe and has been declared a public health emergency by the World Health Organization and a National Emergency by the President of the United States. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has, and is likely to continue to, adversely affect the operations of the Company’s business, as the significantly reduced global and national economic activity has resulted in reduced demand for oil and natural gas. Federal, state and local governments mobilized to implement containment mechanisms to minimize impacts to their populations and economies. Various containment measures, which include the quarantining of cities, regions and countries, while aiding in the prevention of further outbreak, have resulted in a severe drop in general economic activity and a resulting decrease in energy demand. In addition, the global economy has experienced a significant disruption to global supply chains. The extent of the COVID-19 outbreak on the Company’s operational and financial performance will continue to depend on certain developments, including the duration and spread of the outbreak and its continued impact on customer activity and third-party providers. The direct impact to the Company’s operations began to take effect at the close of the first quarter ended March 31, 2020, and continued through the issuance of these consolidated financial statements. The full extent to which the COVID-19 outbreak may affect the Company’s financial conditions, results of operations or liquidity subsequent to the issuance of these consolidated financial statements is uncertain. The severe drop in economic activity, travel restrictions and other restrictions due to COVID-19 have had a significant negative impact on the demand for oil and gas. In addition to the impact of the COVID-19 outbreak, in March 2020, OPEC, Russia and certain other oil producing states, commonly referred to as “OPEC Plus,” failed to agree on a plan to cut production of oil and natural gas. Subsequently, Saudi Arabia announced plans to increase production to record levels and reduce the prices at which they sell oil and, in turn, Russia responded with threats to also increase production. Collectively, these events created an unprecedented global oil and natural gas supply and demand imbalance, reduced global oil and natural gas storage capacity, caused oil prices to decline significantly and resulted in continued volatility in oil, natural gas and NGLs prices through the year ended December 31, 2020. With the combined effects of the increased production levels earlier in 2020, the recent increase in production and the reduction in demand caused by COVID-19, the global oil and natural gas supply and demand imbalance persists and continues to have a significant adverse effect on the oil and gas industry. Due to the significantly reduced demand for oil and natural gas as a result of the COVID-19 pandemic and the current oversupply of oil and natural gas in the market, available storage and capacity for the Company’s customers’ production may be limited or completely unavailable in the future, which may further negatively impact the price of oil. The Company cannot predict whether, or when, the global supply and demand imbalance will be resolved or whether, or when, oil and natural gas production and economic activities will return to normalized levels. In the absence of additional reductions to global production, oil, natural gas and NGLs prices could remain at current levels, or decline further, for an extended period of time. Factors deriving from the COVID-19 response, as well as the oil oversupply, that have or may negatively impact sales, liquidity and gross margins in the future include, but are not limited to: limitations on the ability of the Company’s customers to conduct business, which would result in a decrease in demand for services and lower utilization of the Company’s assets; limitations on the ability of suppliers to provide materials or equipment, limitations on the ability of the Company’s employees to perform their work due to illness caused by the pandemic or local, state or federal orders requiring employees to remain at home; reduction of capital expenditures and discretionary spend; and limitations on the ability of customers to pay us on a timely basis. If prolonged, such factors may also negatively affect the carrying values of the Company’s property and equipment and intangible assets. At the close of the first quarter, the Company initiated cost reductions throughout the organization, including a reduction in the workforce and salary reductions. Additionally, various other operational, travel and organizational expense reductions will continue to manage costs to preserve liquidity through the downturn. We believe these actions will provide sufficient liquidity to finance our operations for twelve months post issuance of these consolidated financial statements. We will continue to actively monitor the situation and may take further actions that alter business operations as may be required by federal, state or local authorities, or that we determine are in the best interests of the Company’s employees, customers and stakeholders.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The accompanying audited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for the fair presentation of the financial results for all periods presented have been reflected. All intercompany balances and transactions have been eliminated. Investments in which the Company exercises control are consolidated and the noncontrolling interests of such investments, which are not attributable directly or indirectly to the Company, are presented as a separate component of net income or loss and equity in the accompanying consolidated financial statements. The Company has ownership interests in Ranger LLC, which is consolidated within the Company’s consolidated financial statements but is not wholly owned by the Company. Changes in the Company’s ownership interest in Ranger LLC, while it retains its controlling interest, are accounted for as equity transactions. Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management uses historical and other pertinent information to determine these estimates. Actual results could differ from such estimates. Areas where critical accounting estimates are made by management include: • Depreciation and amortization of property and equipment and intangible assets; • Impairment of property and equipment and intangible assets; • Revenue recognition; • Income taxes; and • Equity-based compensation. Significant Accounting Policies Cash and Cash Equivalents All highly liquid investments with an original maturity of three months or less are considered cash equivalents. The Company maintains its cash accounts in financial institutions that are insured by the Federal Deposit Insurance Corporation. From time to time cash balances may exceed the insured amounts, however, the Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risks. Accounts Receivable, net Accounts receivable, net are stated at the amount management expects to collect from outstanding balances. Before extending credit, the Company reviews a customer’s credit history and generally does not require collateral from its customers. The allowance for doubtful accounts is established as losses are estimated and are recorded through a provision for bad debts. Losses are charged against the allowance when management believes the uncollectibility of a receivable is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for doubtful accounts is evaluated on a regular basis by management and based on past experience and other factors, which, in management’s judgment, deserve current recognition in estimating possible bad debts. Such factors include growth and composition of accounts receivable, the relationship of the allowance for doubtful accounts to accounts receivable and current economic conditions. The allowance for doubtful accounts was $1.6 million for both of the years ended December 31, 2020 and 2019. Bad debt expense recorded for the years ended December 31, 2020 and 2019 was $0.1 million and $1.3 million, respectively. Balance at Beginning of Year Charged to Operations Written Off Balance at End of Year Allowance for Doubtful Accounts Receivable 2020 $ 1.6 $ 0.1 $ (0.1) $ 1.6 2019 $ 0.5 $ 1.3 $ (0.2) $ 1.6 Inventories Inventories are carried at the lower of cost or net realizable value and primary consists of supplies held for the Completion and Other Services segment. Leases Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease, discounted at our annual incremental borrowing rate (“IBR”). ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the ROU asset and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. For certain leases, where variable lease payments are incurred and relate primarily to common area maintenance, in substance fixed payments are included in the ROU asset and lease liability. For those leases that do not provide an implicit rate, we use an IBR based on the estimated rate of interest for a fully collateralized, fully amortizing loan over a similar term of the lease payments at commencement date. ROU assets also include any lease payments made and exclude lease incentives. Lease terms do not include options to extend or terminate the lease, as management does not consider them reasonably certain to exercise at this time. Leases with terms of 12 months or less are considered short-term leases and therefore payments are recorded as an expense on a straight line basis over the lease term. Any lease and non-components are combined. Operating Leases The Company enters into operating leases, primarily for real estate, with terms that vary from less than 12 months to seven years, where certain of the leases contain escalation clauses. The operating leases are included in Operating lease right-of-use assets, Other current liabilities Finance Leases The Company enters into lease arrangements for certain equipment, which are considered finance leases and generally have a term of three Property and Equipment, net Property and equipment is stated at cost or estimated fair market value at the acquisition date less accumulated depreciation. Depreciation is charged to expense on the straight‑line basis over the estimated useful life of each asset. Expenditures for major renewals and betterments are capitalized while expenditures for maintenance and repairs are charged to expenses as incurred. Depreciation does not begin until property and equipment is placed in service. Once placed in service, depreciation on property and equipment continues while being repaired, refurbished or between periods of deployment. Long‑Lived Asset Impairment The Company evaluates the recoverability of the carrying value of long‑lived assets, including property and equipment and intangible assets, whenever events or circumstances indicate the carrying amount may not be recoverable. If a long‑lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset cost is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of a long‑lived asset exceeds its fair value. During the first and second quarter of 2020, the Company noted a sustained decline in stock price due to the reduced demand and oversupply of oil and natural gas, which was an indication that the fair value of the Company’s long-lived assets could have fallen below their carrying values. As a result, an impairment analysis was performed and it was determined that no impairment existed. Intangible Assets Identified intangible assets with determinable lives consist of customer relationships. Customer relationships are straight-line amortized over their estimated useful lives. Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. In valuing certain assets and liabilities, the inputs used to measure fair value may fall into different levels of the fair value hierarchy, which are summarized as follows: Level 1—Quoted prices in active markets for identical assets and liabilities. Level 2—Other significant observable inputs. Level 3—Significant unobservable inputs. The Company’s financial instruments consist of cash and cash equivalents, trade receivables and trade payables, where the carrying amount approximates fair value due to the short‑term nature of each instrument. The fair value of long‑term debt approximates its carrying value based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities. The Company did not have any assets or liabilities that were measured at fair value on a recurring basis at December 31, 2020 and 2019. Revenue Recognition In determining the appropriate amount of revenue to be recognized as the Company fulfills the obligations under its contracts with customers, the following steps must be performed at contract inception: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as the Company satisfies each performance obligation. The services of each segment are based on mutually agreed upon pricing with the customer prior to the services being performed and, given the nature of the services, do not include any warranty or right of return. Pricing for services are offered at hourly or daily rates, where the rates are, in part, determined by when services are performed and the nature of the specific job, with consideration for the extent of equipment, labor and consumables needed. Accordingly, the agreed upon pricing is considered to be variable consideration. Pricing for equipment rentals is based on fixed monthly service fees. We satisfy our performance obligation over time as the services are performed. The Company believes the output method is a reasonable measure of progress for the satisfaction of our performance obligations, which are satisfied over time, as it provides a faithful depiction of (i) our performance toward complete satisfaction of the performance obligation under the contract and (ii) the value transferred to the customer of the services performed under the contract. The Company elected the “right to invoice” practical expedient for recognizing revenue. The Company invoices customers upon completion of the specified services and collection generally occurs within the payment terms agreed with customers. Accordingly, there is no financing component to our arrangements with customers. All revenue transactions are presented on a net of sales tax in the Consolidated Statement of Operations. Contract Balances Contract assets representing the Company’s rights to consideration for work completed but not billed amounted to $1.1 million and $1.2 million as of December 31, 2020 and 2019, respectively. Substantially all of the contract assets as of December 31, 2020 and 2019 were invoiced during the subsequent periods. The Company does not have any contract liabilities included in the Consolidated Balance Sheets as of December 31, 2020 and 2019. Income Taxes The Company provides for income tax expense based on the liability method of accounting for income taxes. Deferred tax assets and liabilities are recorded based upon differences between the tax basis of assets and liabilities and their carrying values for financial reporting purposes and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The establishment of a valuation allowance requires significant judgment and is impacted by various estimates. Both positive and negative evidence, as well as the objectivity and verifiability of that evidence, is considered in determining the appropriateness of recording a valuation allowance on deferred tax assets. Under US GAAP, the valuation allowance is recorded to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes. The ultimate realization of the deferred tax assets depends on the generation of sufficient taxable income. Deferred tax expense or benefit is the result of changes in deferred tax assets and liabilities and associated valuation allowances during the period. The impact of an uncertain tax position taken or expected to be taken on an income tax return is recognized in the financial statements at the largest amount that is more likely than not to be sustained upon examination by the relevant taxing authority. The income tax provision reflects the full benefit of all positions that have been taken in the Company's income tax returns, except to the extent that such positions are uncertain and fall below the recognition requirements. In the event that the Company determines that a tax position meets the uncertainty criteria, an additional liability or benefit will result. The amount of unrecognized tax benefit requires management to make significant assumptions about the expected outcomes of certain tax positions included in filed or yet to be filed tax returns. As of December 31, 2020 and 2019, the Company did not have any uncertain tax positions. The Company is subject to income taxes in the United States and in numerous state tax jurisdictions. The Company’s tax filings for 2019, 2018 and 2017 are subject to audit by the federal and state taxing authorities in most jurisdictions where we conduct business. None of the Company’s federal or state tax returns are currently under examination. These audits may result in assessments of additional taxes that are resolved with the authorities or through the courts. The Company records income tax related interest and penalties, if applicable, as a component of tax expense. However, there were no such amounts recognized in the consolidated statements of operations in 2020 and 2019. Equity-Based Compensation The Consolidated Financial Statements reflect various equity-based compensation awards granted by Ranger. These awards include restricted stock awards and performance stock units. The Company recognizes compensation expense related to equity-based awards based on the estimated fair value of the awards on the date of grant. The fair value of the equity-based awards on the grant date is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. The fair value of the restricted stock awards are estimated using the market price of the Company’s shares on the grant date. The fair value of the performance stock units are estimated using an option pricing model that includes certain assumptions, such as volatility, dividend yield and the risk free interest rate. Changes in these assumptions could change the fair value of our unit based awards and associated compensation expense in our Consolidated Statements of Operations. Forfeitures of all equity-based compensation are recognized as they occur. Emerging Growth Company and Smaller Reporting Company Status The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The Company will remain an emerging growth company until the earlier of (1) the last day of its fiscal year (a) following the fifth anniversary of the completion of the Offering, (b) in which its total annual gross revenue is at least $1.07 billion, or (c) in which the Company is deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700.0 million as of the last business day of its most recently completed second fiscal quarter, or (2) the date on which the Company has issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting and other burdens that are otherwise applicable to public companies. The Company is also a “smaller reporting company” as defined by Rule 12b-2 of the Exchange Act. Smaller reporting company means an issuer that is not an investment company, an asset-back issuer, or a majority-owned subsidiary of a parent that is not a smaller reporting company and that (i) has a market value of common stock held by non-affiliates of less than $250 million; or (i) has annual revenues of less than $100 million and either no common stock held by non-affiliates or a market value of common stock held by non-affiliates of less than $700 million. Smaller reporting company status is determined on an annual basis. Recent Accounting Pronouncements Recently issued accounting standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses , which replaces the incurred loss impairment methodology to reflect expected credit losses. The amendment requires the measurement of all expected credit losses for financial assets held at the reporting date to be performed based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2022, with early adoption permitted. The Company is evaluating the effect of this accounting standard on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for accounting contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference the London Interbank Offering Rate (“LIBOR”) or another reference rate expected to be discontinued due to the reference rate reform. ASU 2020-04 became effective as of March 12, 2020 and can be applied through December 31, 2022. The Company has not made any contract modifications as of the date of this report to transition to a different reference rate, however it will consider this guidance as future modifications are made. With the exception of the standards above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to the Company’s consolidated financial statements.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Note 3 — Property and Equipment, Net Property and equipment include the following (in millions): Estimated Useful Life December 31, (Years) 2020 2019 High specification rigs 20 $ 127.2 $ 127.2 High specification rigs machinery and equipment 5 - 10 39.7 38.3 Completions and other services machinery and equipment 5 - 10 56.5 55.8 Process solutions machinery and equipment 3 - 30 45.9 40.8 Vehicles 3 - 15 20.4 25.9 Other property and equipment 5 - 25 10.9 10.1 Property and equipment 300.6 298.1 Less: accumulated depreciation (113.0) (85.5) Construction in progress 1.8 6.3 Property and equipment, net $ 189.4 $ 218.9 Depreciation expense was $34.2 million and $34.1 million for the years ended December 31, 2020 and 2019, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 4 — Intangible Assets Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life December 31, (Years) 2020 2019 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (2.9) (2.1) Intangible assets, net $ 8.5 $ 9.3 Amortization expense was $0.8 million and $0.7 million for the years ended December 31, 2020 and 2019, respectively. Amortization expense for the future periods is expected to be as follows (in millions): For the years ending December 31, Amount 2021 $ 0.7 2022 0.7 2023 0.7 2024 0.7 2025 0.8 Thereafter 4.9 Total $ 8.5

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Note 5 — Accrued Expenses Accrued expenses are comprised of the following (in millions): December 31, 2020 2019 Accrued payables $ 2.7 $ 8.3 Accrued compensation 4.5 6.3 Accrued taxes 1.0 1.8 Accrued insurance 1.1 2.0 Accrued expenses $ 9.3 $ 18.4

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Note 6 — Leases Operating Leases Lease costs and other information related to operating leases are as follows (in millions): Years Ended December 31, 2020 2019 Short-term lease costs $ 1.9 $ 5.4 Operating lease cost $ 2.6 $ 3.0 Operating cash outflows from operating leases $ 2.6 $ 2.9 Weighted average remaining lease term 6.1 years 5.8 years Weighted average discount rate 8.5 % 9.3 % As of December 31, 2020, aggregate future minimum lease payments under operating leases was (in millions): For the years ending December 31, Total 2021 $ 1.2 2022 1.3 2023 1.2 2024 1.2 2025 1.2 Thereafter 1.7 Total future minimum lease payments 7.8 Less: amount representing interest (1.9) Present value of future minimum lease payments 5.9 Less: current portion of operating lease obligations (0.7) Long-term portion of finance lease obligations $ 5.2 Finance Leases Lease costs and other information related to finance leases are as follows (in millions): Years Ended December 31, 2020 2019 Amortization of finance leases $ 4.7 $ 5.2 Interest on lease liabilities $ 0.4 $ 0.8 Financing cash outflows from finance leases $ 4.7 $ 4.8 Weighted average remaining lease term 1.2 years 1.4 years Weighted average discount rate 3.9 % 4.3 % As of December 31, 2020, aggregate future minimum lease payments under finance leases was (in millions): For the years ending December 31, 2020 2021 $ 2.7 2022 1.0 2023 0.4 2024 — 2025 — Thereafter — Total future minimum lease payments 4.1 Less: amount representing interest (0.3) Present value of future minimum lease payments 3.8 Less: current portion of finance lease obligations (2.5) Long-term portion of finance lease obligations $ 1.3
Leases	Note 6 — Leases Operating Leases Lease costs and other information related to operating leases are as follows (in millions): Years Ended December 31, 2020 2019 Short-term lease costs $ 1.9 $ 5.4 Operating lease cost $ 2.6 $ 3.0 Operating cash outflows from operating leases $ 2.6 $ 2.9 Weighted average remaining lease term 6.1 years 5.8 years Weighted average discount rate 8.5 % 9.3 % As of December 31, 2020, aggregate future minimum lease payments under operating leases was (in millions): For the years ending December 31, Total 2021 $ 1.2 2022 1.3 2023 1.2 2024 1.2 2025 1.2 Thereafter 1.7 Total future minimum lease payments 7.8 Less: amount representing interest (1.9) Present value of future minimum lease payments 5.9 Less: current portion of operating lease obligations (0.7) Long-term portion of finance lease obligations $ 5.2 Finance Leases Lease costs and other information related to finance leases are as follows (in millions): Years Ended December 31, 2020 2019 Amortization of finance leases $ 4.7 $ 5.2 Interest on lease liabilities $ 0.4 $ 0.8 Financing cash outflows from finance leases $ 4.7 $ 4.8 Weighted average remaining lease term 1.2 years 1.4 years Weighted average discount rate 3.9 % 4.3 % As of December 31, 2020, aggregate future minimum lease payments under finance leases was (in millions): For the years ending December 31, 2020 2021 $ 2.7 2022 1.0 2023 0.4 2024 — 2025 — Thereafter — Total future minimum lease payments 4.1 Less: amount representing interest (0.3) Present value of future minimum lease payments 3.8 Less: current portion of finance lease obligations (2.5) Long-term portion of finance lease obligations $ 1.3

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Note 7 — Debt The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): December 31, 2020 2019 ESCO Notes Payable $ — $ 5.8 Wells Fargo Credit Facility 7.2 9.5 Encina Master Financing Agreement 17.3 27.1 Total Debt 24.5 42.4 Current portion of long-term debt (10.0) (15.8) Long term-debt, net $ 14.5 $ 26.6 ESCO Notes Payable In connection with the initial public offering (the “Offering”) and the ESCO Leasing, LLC (“ESCO”) acquisition, both of which occurred on August 16, 2017, the Company issued $7.0 million of Seller’s Notes as partial consideration for the ESCO acquisition. These notes included a note for $1.2 million, which was paid in August 2018 and a note for $5.8 million, which was due in February 2019. The notes bore interest at 5.0% payable quarterly until their respective maturity dates. During the year ended December 31, 2018, the Company provided notice to ESCO that the Company sought to be indemnified for breach of contract. The Company exercised its right to stop payments of the remaining principal balance of $5.8 million on the Seller’s Notes and any unpaid interest, pending resolution of certain indemnification claims. Interest on the outstanding principal balance was accrued through the maturity date of the Note Payable. During the year ended December 31, 2020, the Company settled the indemnification claims, paid $3.8 million to settle the note and any unpaid interest, in full, and recognized a gain on the retirement of debt of $2.1 million. Please see ‘Note 12 — Commitments and Contingencies’ for further details. Credit Facility On August 16, 2017, Ranger, LLC entered into a $50.0 million senior revolving credit facility (the “Credit Facility”) by and among certain of Ranger’s subsidiaries, as borrowers, each of the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent (the “Administrative Agent”). The Company’s eligible accounts receivable serves as collateral for the borrowings under the Credit Facility. The applicable margin for LIBOR loans ranges from 1.5% to 2.0% and the applicable margin for Base Rate loans ranges from 0.5% to 1.0%, in each case, depending on Ranger, LLC’s average excess availability under the Credit Facility. The applicable margin for the LIBOR loan was 2.2% and the Base Rate loan interest rate was 4.3% as of December 31, 2020. The weighted average interest rate for the borrowings under the Credit Facility was 3.2% for the year ended December 31, 2020. Under the Credit Facility, the total loan capacity was $20.7 million, which was based on a borrowing base certificate in effect as of December 31, 2020. The Company had outstanding borrowings of $7.5 million under the Credit Facility, leaving a residual $13.2 million available for borrowing as of December 31, 2020. The Company was in compliance with the Credit Facility covenants as of December 31, 2020. There were capitalized fees of $0.7 million associated with the Credit Facility, which are included on the Consolidated Balance Sheets as a discount to the long term debt. Such fees will be amortized through maturity and are included in Interest Expense, net on the Consolidated Statements of Operations. Unamortized debt issuance costs as of December 31, 2020 was $0.3 million. The Credit Facility is subject to a borrowing base that is calculated based upon a percentage of the value of the Company’s eligible accounts receivable less certain reserves. Such calculation is submitted, in the form of a borrowing base certificate, to the Administrative Agent within ten business days of each preceding month end. The Credit Facility includes cash dominion provisions that permit the Administrative Agent to sweep cash daily from the Company’s bank accounts into an account of the Administrative Agent to repay the Company’s obligations under the Credit Facility. Such dominion is triggered when excess availability is less than the greater of $6.25 million and 12.5% of the lesser of (x) the maximum revolver amount and (y) the borrowing base as of such date of determination. When the Company is subject to dominion, for 30 consecutive days it is required to either (a) maintain excess availability in excess of the greater of $6.25 million and 12.5% of the lesser of (x) the maximum revolver amount and (y) the borrowing base as of such date of determination and no event of default has occurred and is continuing or (b) have no revolver drawings and available cash of at least $20.0 million for dominion to revert back to the Company. During the first quarter of 2020, the Company borrowed against the Credit Facility causing dominion to revert to the Administrative Agent, however after the 30 consecutive day period, as defined above, dominion reverted back to the Company in the second quarter of 2020. The borrowings under the Credit Facility, and related issuance costs, were included in Long-term debt, net in the Consolidated Balance Sheets as of December 31, 2020, as the Company was not subject to dominion and the scheduled maturity date is August 16, 2022. Encina Master Financing and Security Agreement (“Financing Agreement”) On June 22, 2018, the Company entered into a Financing Agreement with Encina Equipment Finance SPV, LLC (the “Lender”). The amount available to be provided by the Lender to the Company under the Financing Agreement was contemplated to be not less than $35.0 million, and not to exceed $40.0 million. The first financing was required to be in an amount up to $22.0 million, which was used by the Company to acquire certain capital equipment. Subsequent to the first financing, the Company borrowed an additional $17.8 million, net of expenses and in two tranches, under the Financing Agreement. The Company utilized the additional net proceeds to acquire certain capital equipment. The Financing Agreement is secured by a lien on certain high specification rig assets. As of December 31, 2020, the aggregate principal balance outstanding under the Financing Agreement was $17.7 million. The total borrowings under the Financing Agreement were borrowed in three tranches, where the amounts outstanding are payable ratably over 48 months from the time of each borrowing. The three tranches mature in July 2022, November 2022 and January 2023. Borrowings under the Financing Agreement bear interest at a rate per annum equal to the sum of 8.0% plus the London Interbank Offered Rate (“LIBOR”), subject to a floor of 1.5%. As of December 31, 2020, LIBOR was 1.5%. Under the terms of the Financing Agreement, the Company is required to maintain a leverage ratio of 2.50 to 1.00. The Company was in compliance with the covenants under the Financing Agreement as of December 31, 2020. The Company capitalized fees of $0.9 million associated with the Financing Agreement, which are included on the Consolidated Balance Sheets as a discount to the Long-term Debt, net. Such fees will be amortized through maturity and are included in Interest Expense, net on the Consolidated Statements of Operations. Unamortized debt issuance costs as of December 31, 2020 was $0.4 million. Scheduled Debt Maturities As of December 31, 2020, aggregate principal repayments of total debt for the next five years are as follows (in millions): For the years ending December 31, Total 2021 $ 10.0 2022 15.0 2023 0.2 Total $ 25.2

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity	Note 8 — Equity Equity Based Compensation Overview The Company has a Long-Term Incentive Plan (“LTIP”) for executives, employees, consultants and non-employee directors, under which awards can be granted in the form of stock options, stock appreciation rights, restricted stock awards (“RSAs”), restricted stock units, performance awards, dividend equivalents, other stock-based awards, cash awards and substitute awards. Subject to adjustment in accordance with the terms of the LTIP, 2,850,000 shares of Class A Common Stock have been reserved for issuance pursuant to awards under the LTIP. Class A Common Stock withheld to satisfy exercise prices or tax withholding obligations will be available for delivery pursuant to other awards. The LTIP will be administered by the Board or an alternative committee appointed by the Board. RSAs The Company has granted RSAs, which generally vest in three equal annual installments beginning on the first anniversary date of the grant. The aggregate fair value of RSAs granted during the years ended December 31, 2020 and 2019 was $2.5 million and $4.5 million, respectively. As of December 31, 2020, there was an aggregate of $3.3 million of unrecognized expense related to RSAs issued, which are expected to be recognized over a weighted average period of 1.5 years. The following table summarizes the unvested activity for RSAs during the years ended December 31, 2020 and 2019: Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period Unvested at January 1, 2019 481,710 Granted 590,091 $ 7.59 2.1 years Forfeited (80,767) Vested (229,446) Unvested at December 31, 2019 761,588 $ 7.84 1.8 years Granted 649,039 $ 3.84 1.8 years Forfeited (59,790) Vested (340,110) Unvested at December 31, 2020 1,010,727 $ 5.30 1.5 years Performance Stock Units (“PSUs”) The Company has granted performance awards to certain key employees, in the form of PSUs, which are earned based on the achievement of certain market factors and performance targets at the discretion of the board of directors. The PSUs are subject to a three year measurement period during which the number of Class A Common Stock to be issued in settlement of the PSUs remains uncertain until the end of the measurement period and will generally cliff vest based on the level of achievement with respect to the applicable performance criteria. Subsequent to such measurement period, the vesting of PSUs is subject to certification by the board of directors. As defined in the respective PSU agreements, the performance criteria applicable to these awards is relative and absolute total shareholder return (“TSR”). Achievement with respect to the relative TSR criteria is determined by the Company’s TSR compared to the TSR of the defined peer group during the measurement period. Achievement with respect to the absolute TSR criteria is based on a measurement of the Company’s stock price growth during the measurement period. The PSUs that were granted during the years ended December 31, 2020 and 2019 will cliff vest, subject to the achievement of applicable performance criteria and certification by the board of directors, on April 23, 2023 and March 21, 2022, respectively. As of December 31, 2020, there was an aggregate of $0.9 million of unrecognized compensation cost related to PSUs. The following table summarizes the unvested activity for PSUs during the years ended December 31, 2020 and 2019: Relative Absolute Shares Weighted Average Weighted Average Shares Weighted Average Weighted Average Unvested as of January 1, 2019 35,482 35,482 Granted 52,960 $ 11.96 52,960 $ 9.50 Unvested as of December 31, 2019 88,442 88,442 Granted 60,631 $ 6.33 2.3 years 60,631 $ 3.62 2.3 years Unvested as of December 31, 2020 149,073 1.4 years 149,073 1.4 years Purchases of Equity Securities During the year ended December 31, 2020, the Company repurchased 344,828 shares of the Company’s Class A Common Stock for an aggregate $2.4 million in a privately negotiated transaction with ESCO. See ‘Note 12 — Commitments and Contingencies’ for further details. In June 2019, the Board of Directors approved a share repurchase program, authorizing the Company to purchase up to 10% of the outstanding Class A Common Stock held by non-affiliates, not to exceed 580,000 shares or $5.0 million in aggregate value. Share repurchases may take place from time to time on the open market or through privately negotiated transactions. The duration of the share repurchase program was 12 months and therefore ended in June 2020. During the years ended December 31, 2020 and 2019, the Company repurchased 93,063 shares and 113,937 shares, respectively, of Class A Common Stock for an aggregate $0.7 million for both periods, in the open market. The following table summarizes the activity of treasury stock for the years ended December 31, 2020 and 2019: Treasury Stock Quantity Amount Balance at January 1, 2019 — $ — Repurchase of Class A Common Stock (113,937) (0.7) Balance at December 31, 2019 (113,937) (0.7) Repurchase of Class A Common Stock (437,891) (3.1) Balance at December 31, 2020 (551,828) $ (3.8) Share Issuance to Related Party In connection with the Offering, the Company entered into a master reorganization agreement in 2017, under which the parties thereto effected a series of restructuring transactions. Under the master reorganization agreement, an aggregate of $3.0 million liability was settled by the Company and CSL Energy Holdings I, LLC during the year ended December 31, 2019. At the Company’s discretion the liability was settled with the issuance of 206,898 Class A Common Stock.

Risk Concentrations

Risk Concentrations	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Risk Concentrations	Note 9 — Risk Concentrations Customer Concentrations For the year ended December 31, 2020, two customers, EOG Resources (“EOG”) and Concho Resources, Inc. (“Concho”), accounted for approximately 21% and 17%, respectively, of the Company’s consolidated revenues. As of December 31, 2020, approximately 11% and 10%, respectively, of the consolidated accounts receivable balance was due from these customers. For the year ended December 31, 2019, two customers, EOG and Concho, accounted for approximately 17% and 14%, respectively, of the Company’s consolidated revenues. As of December 31, 2019, approximately 12% and 8% respectively, of the consolidated accounts receivable balance was due from these customers.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 — Income Taxes Ranger, LLC is treated as a partnership for U.S. federal income tax purposes and is subject to Texas Margin Tax, however not subject to federal or state income taxation. As a member in Ranger, LLC, the Company is subject to U.S. taxation on its allocable share of U.S. taxable income and the non-controlling interest members will pay taxes with respect to their allocable share of U.S. taxable income. The Company is a corporation and is subject to U.S. federal income tax. The effective U.S. federal income tax rate applicable to the Company for the years ended December 31, 2020 and 2019 was 21%. Total income tax expense for the year ended December 31, 2020 and 2019 differed from amounts computed by applying the U.S. federal statutory tax rate of 21% primarily due to non-deductible expenses, other state taxes, in addition to the adjustment for non-controlling interest that is not subject to federal tax. A release of the valuation allowance would result in the recognition of an increase in deferred tax assets and an income tax benefit in the period in which the release occurs, although the exact timing and amount of the release is subject to change based on numerous factors, including projections of future taxable income, which continues to be assessed based on available information each reporting period. Years Ended December 31, 2020 2019 Current provision (benefit) Federal $ — $ — State (0.2) 0.4 Total current provision (benefit) (0.2) 0.4 Deferred provision (benefit) Federal 0.2 1.4 State — 0.4 Total deferred expense (benefit) 0.2 1.8 Income tax expense (benefit) $ — $ 2.2 A reconciliation of the expected income tax expense on income (loss) before income taxes using the statutory federal income tax rate of 21% for 2020 and 2019 to income tax expense follows (in millions): December 31, 2020 2019 Income (loss) before income taxes $ (18.5) $ 6.6 Statutory rate 21 % 21 % Income tax expense (benefit) computed at statutory rate $ (3.9) $ 1.4 Reconciling items State income taxes, net of federal tax benefit (0.1) 0.9 Nontaxable (loss) income allocated to non-controlling interest 1.7 (0.6) Valuation allowance 2.1 — Non-deductible expenses and other 0.2 0.5 Income tax expense (benefit) $ — $ 2.2 As a result of the Offering and subsequent reorganization, the Company recorded a deferred tax asset, however a full valuation allowance has been recorded to reduce the Company’s net deferred tax assets to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes. The tax effects of the cumulative temporary differences resulting in the net deferred income tax liability, which are shown in Other Long-Term Liabilities on the consolidated balance sheet, are as follows (in millions): December 31, 2020 2019 Deferred income tax assets Net operating loss carryforward $ 16.4 $ 16.4 Valuation allowance (5.3) (3.5) Net deferred income tax asset $ 11.1 $ 12.9 Deferred income tax liabilities Investment in partnership $ (11.1) $ (12.9) Property and equipment (0.5) (0.5) Deferred income tax liability (11.6) (13.4) Net deferred income tax liability $ (0.5) $ (0.5) As of December 31, 2020, the Company has net operating loss carryforwards of approximately $71.5 million, consisting of $9.8 million of section 382 limited losses expiring beginning in 2034, an estimated $20.6 million of non-section 382 limited losses expiring beginning in 2037 and $41.1 million of non-section 382 limited losses which carryforward indefinitely. The Coronavirus, Aid, Relief and Economic Security Act (the “CARES Act”), which was enacted on March 27, 2020 in the U.S., includes measures to assist companies, including temporary changes to income and non-income-based tax laws. As of December 31, 2020, the Company had deferred payroll tax payments of $1.9 million, however there were no other material tax impacts to the consolidated financial statements as it related to COVID-19 measures.

Earnings (Loss) per Share

Earnings (Loss) per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Note 11 — Earnings (Loss) per Share Earnings (loss) per share is based on the amount of income (loss) allocated to the shareholders and the weighted average number of shares outstanding during the period for each class of common stock. Diluted earnings (loss) per share is computed giving effect to all potentially dilutive shares. The following table presents the Company’s calculation of basic and diluted earnings or loss per share for the years ended December 31, 2020 and 2019 (in millions, except share and per share data): Years Ended December 31, 2020 2019 Income (loss) (numerator): Basic: Net income (loss) attributable to Ranger Energy Services, Inc. $ (10.3) $ 1.8 Net income (loss) attributable to Class A Common Stock $ (10.3) $ 1.8 Diluted: Net income (loss) attributable to Ranger Energy Services, Inc. $ (10.3) $ 1.8 Net income (loss) attributable to Class A Common Stock $ (10.3) $ 1.8 Weighted average shares (denominator): Weighted average number of shares - basic 8,532,923 8,634,013 Weighted average number of shares - diluted 8,532,923 8,634,013 Basic earnings (loss) per share $ (1.21) $ 0.21 Diluted earnings (loss) per share $ (1.21) $ 0.21 During the years ended December 31, 2020 and 2019, the Company excluded 6.9 million shares of Class A Common Stock issuable upon conversion of the Company’s Class B Common Stock for both periods and 1.3 million and 1.2 million, respectively, equity-based awards in calculating diluted earnings or loss per share, as the effect was anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 — Commitments and Contingencies Legal Matters From time to time, the Company is involved in various legal matters arising in the normal course of business. The Company does not believe that the ultimate resolution of these matters will have a material adverse effect on its consolidated financial position or results of operations. During the year ended December 31, 2018, the Company provided notice to ESCO Leasing, LLC that the Company is seeking to be indemnified for breach of contract. The Company exercised its right to stop payments of the remaining principal balance of $5.8 million on the Seller’s Notes and any unpaid interest, pending resolution of certain indemnification claims. During the year ended December 31, 2020, the Company paid an aggregate of $6.2 million to ESCO, of which $3.8 million was paid to settle the Seller’s Note, and any unpaid interest, and $2.4 million was paid to repurchase shares of the Company’s Class A Common Stock. See “Note 7 — Debt” and “Note 8 — Equity” for further details of the debt and equity settlements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 13 — Related Party Transactions Stockholders’ Agreement In connection with the Offering, Ranger entered into a stockholders’ agreement (the “Stockholders’ Agreement”) with the Legacy Owners and the Bridge Loan Lenders (defined below). Among other things, the Stockholders’ Agreement provides CSL and Bayou Wells Holdings Company, LLC (“Bayou Holdings”) with the right to designate nominees to Ranger’s board of directors (each, as applicable, a “CSL Director” or “Bayou Director”) as follows: • for so long as CSL beneficially owns at least 50% of Ranger’s common stock, at least three members of the Board of Directors shall be CSL Directors and at least two members of the Board of Directors shall be Bayou Directors (which may include Richard Agee, Brett Agee or any other person that may be designated by Bayou Holdings in accordance with the terms of the stockholders’ agreement); • for so long as CSL beneficially owns less than 50% but at least 30% of Ranger’s common stock, at least three members of the Board of Directors shall be CSL Directors; • for so long as CSL beneficially owns less than 30% but at least 20% of Ranger’s common stock, at least two members of the Board of Directors shall be CSL Directors; • for so long as CSL beneficially owns less than 20% but at least 10% of Ranger’s common stock, at least one member of the Board of Directors shall be a CSL Director; and • once CSL beneficially owns less than 10% of Ranger’s common stock, CSL will not have any Board designation rights. In the event the size of Ranger’s Board of Directors is increased or decreased at any time to other than eight directors, CSL’s nomination rights will be proportionately increased or decreased, respectively, rounded up to the nearest whole number. Redemption Rights Under the Ranger LLC Agreement, holders of Ranger Units other than the Company (the “Ranger Unit Holders”) will, subject to certain limitations, have the right, pursuant to the Redemption Right (as defined in the Ranger LLC Agreement), to cause Ranger LLC to acquire all or a portion of their Ranger Units (along with a corresponding number of shares of Ranger’s Class B Common Stock) for, at Ranger LLC's election, (i) shares of the Company’s Class A Common Stock at a redemption ratio of one share of Class A Common Stock for each Ranger Unit redeemed, subject to conversion rate adjustments for stock splits, stock dividends, reclassification and other similar transactions, or (ii) cash in an amount equal to the Cash Election Value (defined below) of such Class A Common Stock. Ranger LLC will determine whether to issue shares of Class A Common Stock or cash in an amount equal to the Cash Election Value based on facts in existence at the time of the decision, which the Company expects would include the trading prices for the Class A Common Stock at the time relative to the cash purchase price for the Ranger Units, the availability of other sources of liquidity (such as an issuance of preferred stock) to acquire the Ranger Units and alternative uses for such cash. Alternatively, upon the exercise of the Redemption Right, the Company (instead of Ranger LLC) will have the right, pursuant to the Call Right (as defined in the Ranger LLC Agreement), to, for administrative convenience, acquire each tendered Ranger Unit directly from such Ranger Unit Holder for, at the Company’s election, (x) one share of Class A Common Stock or (y) cash in an amount equal to the value of a share of Class A Common Stock, based on a volume-weighted average price. In addition, upon a change of control of the Company, the Company has the right to require each Ranger Unit Holder (other than the Company) to exercise its Redemption Right with respect to some or all of such unitholder’s Ranger Units. As the Ranger Unit Holders redeem their Ranger Units, the Company’s membership interest in Ranger LLC will be correspondingly increased, the number of shares of Class A Common Stock outstanding will be increased, and the number of shares of Class B Common Stock outstanding will be reduced. The Company’s acquisition (or deemed acquisition for U.S. federal income tax purposes) of Ranger Units pursuant to an exercise of the Redemption Right or the Call Right is expected to result in adjustments to the tax basis of the tangible and intangible assets of Ranger LLC, and such adjustments will be allocated to the Company. These adjustments would not have been available to the Company absent the acquisition or deemed acquisition of Ranger Units and are expected to reduce the amount of cash tax that the Company would otherwise be required to pay in the future. “Cash Election Value” means, with respect to the shares of Class A Common Stock to be delivered to the redeeming Ranger Unit Holder by us pursuant to our Call Right, the amount that would be received if the number of shares of Class A Common Stock to which the redeeming Ranger Unit Holder would otherwise be entitled were sold at a per share price equal to the trailing 10-day volume weighted average price of a share of Class A Common Stock on such redemption, net of actual or deemed offering expenses. Payments The Company incurred $0.7 million and $0.9 million in expenses to CSL and other board members for the years ended December 31, 2020 and 2019, respectively, primarily related to office rent, where such lease terminated during the fourth quarter of 2020. As of December 31, 2020 amounts due to or from CSL and other board members was negligible. In connection with the IPO, the Company entered into a master reorganization agreement in 2017, under which the parties thereto effected a series of restructuring transactions. Under the master reorganization agreement, an aggregate of $3.0 million liability was settled by the Company and CSL Energy Holdings I, LLC during the year ended December 31, 2019. At the Company’s discretion the liability was settled with the issuance of 206,898 Class A Common Stock. Tax Receivable Agreement On August 16, 2017, in connection with the Offering, the Company entered into a Tax Receivable Agreement (the “TRA”) with certain of the existing Ranger Unit holders and their permitted transferees (each such person, a “TRA Holder” and together, the “TRA Holders”). The TRA generally provides for the payment by the Company of 85% of the net cash savings, if any, in U.S. federal, state and local income tax and franchise tax that the Company actually realizes (computed using simplifying assumptions to address the impact of state and local taxes) or is deemed to realize in certain circumstances in periods after the Offering as a result of (i) certain increases in tax basis that occur as a result of the Company’s acquisition (or deemed acquisition for U.S. federal income tax purposes) of all or a portion of such TRA Holder’s Ranger Units in connection with the Offering or pursuant to the exercise of the Redemption Right or the Call Right (each as defined in the Amended and Restated Limited Liability Company Agreement of Ranger LLC) and (ii) imputed interest deemed to be paid by the Company as a result of, and additional tax basis arising from, any payments the Company makes under the TRA. The Company will retain the benefit of the remaining 15% of these cash savings. The term of the TRA commenced on August 16, 2017 and will continue until all tax benefits that are subject to the TRA (or the TRA is terminated due to other circumstances, including the Company’s breach of a material obligation thereunder or certain mergers, assets sales, other forms of business combination or other changes of control) have been utilized or expired, unless the Company exercises its right to terminate the TRA. The payments under the TRA will not be conditioned upon a TRA Holder having a continued ownership interest in either Ranger LLC or the Company. If the Company elects to terminate the TRA early or the TRA is terminated due to other circumstances (including the Company’s breach of a material obligation thereunder or certain mergers, asset sales other forms of business combinations or other changes of control), its obligations under the TRA would accelerate and it would be required to make an immediate payment equal to the present value of the anticipated future tax payments to be made by the Company under the TRA (determined by applying a discount rate of one-year LIBOR plus 150 basis points and based upon certain assumptions and deemed events set forth in the TRA). In addition, payments due under the TRA will be similarly accelerated following certain mergers or other changes of control. Registration Rights Agreement On August 16, 2017, in connection with the closing of the Offering, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with certain stockholders (the “Holders”). Pursuant to, and subject to the limitations set forth in, the Registration Rights Agreement, at any time after the 180-day lock-up period, the Holders have the right to require the Company by written notice to prepare and file a registration statement registering the offer and sale of a number of their shares of Class A Common Stock. Reasonably in advance of the filing of any such registration statement, the Company is required to provide notice of the request to all other Holders who may participate in the registration. The Company is required to use all commercially reasonable efforts to maintain the effectiveness of any such registration statement until all shares covered by such registration statement have been sold. Subject to certain exceptions, the Company is not obligated to effect such a registration within ninety 90 days after the closing of any underwritten offering of shares of Class A Common Stock requested by the Holders pursuant to the Registration Rights Agreements. The Company is also not obligated to effect any registration where such registration has been requested by the holders of Registrable Securities (as defined in the Registration Rights Agreement) which represent less than $25 million, based on the five-day volume weighted average trading price of the Class A Common Stock on the New York Stock Exchange. In addition, pursuant to the Registration Rights Agreement, the Holders have the right to require the Company, subject to certain limitations set forth therein, to effect a distribution of any or all of their shares of Class A Common Stock by means of an underwritten offering. Further, subject to certain exceptions, if at any time the Company proposes to register an offering of its equity securities or conduct an underwritten offering, whether or not for its account, then the Company must notify the Holders of such proposal at least three business days before the anticipated filing date or commencement of the underwritten offering, as applicable, to allow them to include a specified number of their shares in that registration statement or underwritten offering, as applicable. These registration rights are subject to certain conditions and limitations, including the right of the underwriters to limit the number of shares to be included in a registration or offering and the Company’s right to delay or withdraw a registration statement under certain circumstances. The Company will generally pay all registration expenses in connection with its obligations under the Registration Rights Agreement, regardless of whether a registration statement is filed or becomes effective. The obligations to register shares under the Registration Rights Agreement will terminate as to any Holder when the Registrable Securities held by such Holder are no longer subject to any restrictions on trading under the provisions of Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”), including any volume or manner of sale restrictions. Registrable Securities means all shares of Class A Common Stock owned at any particular point in time by a Holder other than shares (i) sold pursuant to an effective registration statement under the Securities Act, (ii) sold in a transaction pursuant to Rule 144 under the Securities Act, (iii) that have ceased to be outstanding or (iv) that are eligible for resale without restriction and without the need for current public information pursuant to any section of Rule 144 under the Securities Act.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Reporting	Note 14 — Segment Reporting The Company’s operations are located in the United States and organized into three reporting segments: High Specification Rigs, Completion and Other Services and Processing Solutions. The reportable segments comprise the structure used by the Chief Operating Decision Maker (“CODM”) to make key operating decisions and assess performance during the years presented in the accompanying consolidated financial statements. The reportable segments have been categorized based on services provided in each line of business. The CODM evaluates the segments’ operating performance based on multiple measures including Adjusted EBITDA, rig hours and rig utilization. The tables below present the operating income (loss) measurement, as the Company believes this is most consistent with the principals used in measuring the financial statements. The following is a description of the segments: High Specification Rigs . The Company’s High Specification Rigs facilitate operations throughout the lifecycle of a well, including (i) completion (ii) workover; (iii) well maintenance; and (iv) decommissioning. The Company provides these advanced well services to Exploration & Production (“E&P”) companies, particularly to those operating in unconventional oil and natural gas reservoirs and requiring technically and operationally advanced services. The Company’s high specification rigs are designed to support growing U.S. horizontal well demands. In addition to the core well service rig operations, the Company offers a suite of complementary services, including fluid management and well service-related equipment rentals. Completion and Other Services. The Completion and Other Services segment provides wireline completion services necessary to bring a well on production and other ancillary services consisting primarily of the Company’s wireline and snubbing lines of business along with other, non-rig well services to enhance the production of a well. Processing Solutions . The Company provides a range of proprietary, modular equipment for the processing of rich natural gas streams at the wellhead or central gathering points in basins where drilling and completion activity has outpaced the development of permanent processing infrastructure. Other. The Company incurs costs, indicated as Other, that are not allocable to any of the operating segments or lines of business and include corporate general and administrative expenses as well as depreciation of office furniture and fixtures and other corporate assets. Segment information for the years ended December 31, 2020 and 2019 is as follows (in millions): Year Ended December 31, 2020 High Specification Rigs Completion and Other Services Processing Solutions Other Total Revenues $ 82.5 $ 98.5 $ 6.8 $ — $ 187.8 Cost of services 71.5 73.7 2.7 — 147.9 General and administrative — — — 22.1 22.1 Depreciation and amortization 20.2 10.2 3.2 1.4 35.0 Gain on debt retirement — — — (2.1) (2.1) Operating income (loss) (9.2) 14.6 0.9 (21.4) (15.1) Interest expense, net — — — 3.4 3.4 Income tax expense — — — — — Net income (loss) $ (9.2) $ 14.6 $ 0.9 $ (24.8) $ (18.5) Capital expenditures $ 5.0 $ 2.0 $ 0.5 $ 0.3 $ 7.8 As of December 31, 2020 Property and equipment, net $ 115.8 $ 30.8 $ 37.7 $ 5.1 $ 189.4 Total assets $ 154.3 $ 41.1 $ 38.4 $ 6.8 $ 240.6 Year Ended December 31, 2019 High Specification Rigs Completion and Other Services Processing Solutions Other Total Revenues $ 132.1 $ 184.3 $ 20.5 $ — $ 336.9 Cost of services 114.8 139.0 9.2 — 263.0 General and administrative — — — 26.7 26.7 Depreciation and amortization 20.1 11.4 2.2 1.1 34.8 Gain on debt retirement — — — — — Operating income (loss) (2.8) 33.9 9.1 (27.8) 12.4 Interest expense, net — — — 5.8 5.8 Income tax expense — — — 2.2 2.2 Net income (loss) $ (2.8) $ 33.9 $ 9.1 $ (35.8) $ 4.4 Capital expenditures $ 11.1 $ 4.1 $ 7.8 $ 0.5 $ 23.5 As of December 31, 2019 Property and equipment, net $ 132.2 $ 40.8 $ 40.5 $ 5.4 $ 218.9 Total assets $ 186.1 $ 57.4 $ 42.6 $ 7.4 $ 293.5

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying audited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for the fair presentation of the financial results for all periods presented have been reflected. All intercompany balances and transactions have been eliminated. Investments in which the Company exercises control are consolidated and the noncontrolling interests of such investments, which are not attributable directly or indirectly to the Company, are presented as a separate component of net income or loss and equity in the accompanying consolidated financial statements. The Company has ownership interests in Ranger LLC, which is consolidated within the Company’s consolidated financial statements but is not wholly owned by the Company. Changes in the Company’s ownership interest in Ranger LLC, while it retains its controlling interest, are accounted for as equity transactions.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management uses historical and other pertinent information to determine these estimates. Actual results could differ from such estimates. Areas where critical accounting estimates are made by management include: • Depreciation and amortization of property and equipment and intangible assets; • Impairment of property and equipment and intangible assets; • Revenue recognition; • Income taxes; and • Equity-based compensation.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with an original maturity of three months or less are considered cash equivalents. The Company maintains its cash accounts in financial institutions that are insured by the Federal Deposit Insurance Corporation. From time to time cash balances may exceed the insured amounts, however, the Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risks.
Accounts Receivable, net	Accounts Receivable, netAccounts receivable, net are stated at the amount management expects to collect from outstanding balances. Before extending credit, the Company reviews a customer’s credit history and generally does not require collateral from its customers. The allowance for doubtful accounts is established as losses are estimated and are recorded through a provision for bad debts. Losses are charged against the allowance when management believes the uncollectibility of a receivable is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for doubtful accounts is evaluated on a regular basis by management and based on past experience and other factors, which, in management’s judgment, deserve current recognition in estimating possible bad debts. Such factors include growth and composition of accounts receivable, the relationship of the allowance for doubtful accounts to accounts receivable and current economic conditions.
Inventories	Inventories Inventories are carried at the lower of cost or net realizable value and primary consists of supplies held for the Completion and Other Services segment.
Leases	Leases Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease, discounted at our annual incremental borrowing rate (“IBR”). ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the ROU asset and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. For certain leases, where variable lease payments are incurred and relate primarily to common area maintenance, in substance fixed payments are included in the ROU asset and lease liability. For those leases that do not provide an implicit rate, we use an IBR based on the estimated rate of interest for a fully collateralized, fully amortizing loan over a similar term of the lease payments at commencement date. ROU assets also include any lease payments made and exclude lease incentives. Lease terms do not include options to extend or terminate the lease, as management does not consider them reasonably certain to exercise at this time. Leases with terms of 12 months or less are considered short-term leases and therefore payments are recorded as an expense on a straight line basis over the lease term. Any lease and non-components are combined. Operating Leases The Company enters into operating leases, primarily for real estate, with terms that vary from less than 12 months to seven years, where certain of the leases contain escalation clauses. The operating leases are included in Operating lease right-of-use assets, Other current liabilities Finance Leases The Company enters into lease arrangements for certain equipment, which are considered finance leases and generally have a term of three
Property and Equipment	Property and Equipment, net Property and equipment is stated at cost or estimated fair market value at the acquisition date less accumulated depreciation. Depreciation is charged to expense on the straight‑line basis over the estimated useful life of each asset. Expenditures for major renewals and betterments are capitalized while expenditures for maintenance and repairs are charged to expenses as incurred. Depreciation does not begin until property and equipment is placed in service. Once placed in service, depreciation on property and equipment continues while being repaired, refurbished or between periods of deployment.
Long-lived Asset Impairment	Long‑Lived Asset Impairment The Company evaluates the recoverability of the carrying value of long‑lived assets, including property and equipment and intangible assets, whenever events or circumstances indicate the carrying amount may not be recoverable. If a long‑lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset cost is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of a long‑lived asset exceeds its fair value.
Intangible Assets	Intangible Assets Identified intangible assets with determinable lives consist of customer relationships. Customer relationships are straight-line amortized over their estimated useful lives.
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. In valuing certain assets and liabilities, the inputs used to measure fair value may fall into different levels of the fair value hierarchy, which are summarized as follows: Level 1—Quoted prices in active markets for identical assets and liabilities. Level 2—Other significant observable inputs. Level 3—Significant unobservable inputs.
Revenue Recognition	Revenue Recognition In determining the appropriate amount of revenue to be recognized as the Company fulfills the obligations under its contracts with customers, the following steps must be performed at contract inception: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as the Company satisfies each performance obligation. The services of each segment are based on mutually agreed upon pricing with the customer prior to the services being performed and, given the nature of the services, do not include any warranty or right of return. Pricing for services are offered at hourly or daily rates, where the rates are, in part, determined by when services are performed and the nature of the specific job, with consideration for the extent of equipment, labor and consumables needed. Accordingly, the agreed upon pricing is considered to be variable consideration. Pricing for equipment rentals is based on fixed monthly service fees. We satisfy our performance obligation over time as the services are performed. The Company believes the output method is a reasonable measure of progress for the satisfaction of our performance obligations, which are satisfied over time, as it provides a faithful depiction of (i) our performance toward complete satisfaction of the performance obligation under the contract and (ii) the value transferred to the customer of the services performed under the contract. The Company elected the “right to invoice” practical expedient for recognizing revenue. The Company invoices customers upon completion of the specified services and collection generally occurs within the payment terms agreed with customers. Accordingly, there is no financing component to our arrangements with customers. All revenue transactions are presented on a net of sales tax in the Consolidated Statement of Operations.
Income Taxes	Income Taxes The Company provides for income tax expense based on the liability method of accounting for income taxes. Deferred tax assets and liabilities are recorded based upon differences between the tax basis of assets and liabilities and their carrying values for financial reporting purposes and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The establishment of a valuation allowance requires significant judgment and is impacted by various estimates. Both positive and negative evidence, as well as the objectivity and verifiability of that evidence, is considered in determining the appropriateness of recording a valuation allowance on deferred tax assets. Under US GAAP, the valuation allowance is recorded to reduce the Company’s deferred tax assets to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes. The ultimate realization of the deferred tax assets depends on the generation of sufficient taxable income. Deferred tax expense or benefit is the result of changes in deferred tax assets and liabilities and associated valuation allowances during the period. The impact of an uncertain tax position taken or expected to be taken on an income tax return is recognized in the financial statements at the largest amount that is more likely than not to be sustained upon examination by the relevant taxing authority. The income tax provision reflects the full benefit of all positions that have been taken in the Company's income tax returns, except to the extent that such positions are uncertain and fall below the recognition requirements. In the event that the Company determines that a tax position meets the uncertainty criteria, an additional liability or benefit will result. The amount of unrecognized tax benefit requires management to make significant assumptions about the expected outcomes of certain tax positions included in filed or yet to be filed tax returns. As of December 31, 2020 and 2019, the Company did not have any uncertain tax positions. The Company is subject to income taxes in the United States and in numerous state tax jurisdictions. The Company’s tax filings for 2019, 2018 and 2017 are subject to audit by the federal and state taxing authorities in most jurisdictions where we conduct business. None of the Company’s federal or state tax returns are currently under examination. These audits may result in assessments of additional taxes that are resolved with the authorities or through the courts.
Equity-Based Compensation	Equity-Based CompensationThe Consolidated Financial Statements reflect various equity-based compensation awards granted by Ranger. These awards include restricted stock awards and performance stock units. The Company recognizes compensation expense related to equity-based awards based on the estimated fair value of the awards on the date of grant. The fair value of the equity-based awards on the grant date is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. The fair value of the restricted stock awards are estimated using the market price of the Company’s shares on the grant date. The fair value of the performance stock units are estimated using an option pricing model that includes certain assumptions, such as volatility, dividend yield and the risk free interest rate. Changes in these assumptions could change the fair value of our unit based awards and associated compensation expense in our Consolidated Statements of Operations. Forfeitures of all equity-based compensation are recognized as they occur.
Emerging Growth Company Status	Emerging Growth Company and Smaller Reporting Company Status The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The Company will remain an emerging growth company until the earlier of (1) the last day of its fiscal year (a) following the fifth anniversary of the completion of the Offering, (b) in which its total annual gross revenue is at least $1.07 billion, or (c) in which the Company is deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700.0 million as of the last business day of its most recently completed second fiscal quarter, or (2) the date on which the Company has issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting and other burdens that are otherwise applicable to public companies. The Company is also a “smaller reporting company” as defined by Rule 12b-2 of the Exchange Act. Smaller reporting company means an issuer that is not an investment company, an asset-back issuer, or a majority-owned subsidiary of a parent that is not a smaller reporting company and that (i) has a market value of common stock held by non-affiliates of less than $250 million; or (i) has annual revenues of less than $100 million and either no common stock held by non-affiliates or a market value of common stock held by non-affiliates of less than $700 million. Smaller reporting company status is determined on an annual basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued accounting standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses , which replaces the incurred loss impairment methodology to reflect expected credit losses. The amendment requires the measurement of all expected credit losses for financial assets held at the reporting date to be performed based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2022, with early adoption permitted. The Company is evaluating the effect of this accounting standard on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for accounting contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference the London Interbank Offering Rate (“LIBOR”) or another reference rate expected to be discontinued due to the reference rate reform. ASU 2020-04 became effective as of March 12, 2020 and can be applied through December 31, 2022. The Company has not made any contract modifications as of the date of this report to transition to a different reference rate, however it will consider this guidance as future modifications are made. With the exception of the standards above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful Accounts Receivable	Balance at Beginning of Year Charged to Operations Written Off Balance at End of Year Allowance for Doubtful Accounts Receivable 2020 $ 1.6 $ 0.1 $ (0.1) $ 1.6 2019 $ 0.5 $ 1.3 $ (0.2) $ 1.6

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property and equipment include the following (in millions): Estimated Useful Life December 31, (Years) 2020 2019 High specification rigs 20 $ 127.2 $ 127.2 High specification rigs machinery and equipment 5 - 10 39.7 38.3 Completions and other services machinery and equipment 5 - 10 56.5 55.8 Process solutions machinery and equipment 3 - 30 45.9 40.8 Vehicles 3 - 15 20.4 25.9 Other property and equipment 5 - 25 10.9 10.1 Property and equipment 300.6 298.1 Less: accumulated depreciation (113.0) (85.5) Construction in progress 1.8 6.3 Property and equipment, net $ 189.4 $ 218.9

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of definite lived intangible assets	Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life December 31, (Years) 2020 2019 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (2.9) (2.1) Intangible assets, net $ 8.5 $ 9.3
Schedule of aggregated amortization expense for future periods	Amortization expense for the future periods is expected to be as follows (in millions): For the years ending December 31, Amount 2021 $ 0.7 2022 0.7 2023 0.7 2024 0.7 2025 0.8 Thereafter 4.9 Total $ 8.5

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of accrued expenses	Accrued expenses are comprised of the following (in millions): December 31, 2020 2019 Accrued payables $ 2.7 $ 8.3 Accrued compensation 4.5 6.3 Accrued taxes 1.0 1.8 Accrued insurance 1.1 2.0 Accrued expenses $ 9.3 $ 18.4

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of lease costs and other information related to operating and finance leases	Lease costs and other information related to operating leases are as follows (in millions): Years Ended December 31, 2020 2019 Short-term lease costs $ 1.9 $ 5.4 Operating lease cost $ 2.6 $ 3.0 Operating cash outflows from operating leases $ 2.6 $ 2.9 Weighted average remaining lease term 6.1 years 5.8 years Weighted average discount rate 8.5 % 9.3 % Lease costs and other information related to finance leases are as follows (in millions): Years Ended December 31, 2020 2019 Amortization of finance leases $ 4.7 $ 5.2 Interest on lease liabilities $ 0.4 $ 0.8 Financing cash outflows from finance leases $ 4.7 $ 4.8 Weighted average remaining lease term 1.2 years 1.4 years Weighted average discount rate 3.9 % 4.3 %
Schedule of future minimum leases payments for operating leases	As of December 31, 2020, aggregate future minimum lease payments under operating leases was (in millions): For the years ending December 31, Total 2021 $ 1.2 2022 1.3 2023 1.2 2024 1.2 2025 1.2 Thereafter 1.7 Total future minimum lease payments 7.8 Less: amount representing interest (1.9) Present value of future minimum lease payments 5.9 Less: current portion of operating lease obligations (0.7) Long-term portion of finance lease obligations $ 5.2
Schedule of future minimum leases payments for finances leases	As of December 31, 2020, aggregate future minimum lease payments under finance leases was (in millions): For the years ending December 31, 2020 2021 $ 2.7 2022 1.0 2023 0.4 2024 — 2025 — Thereafter — Total future minimum lease payments 4.1 Less: amount representing interest (0.3) Present value of future minimum lease payments 3.8 Less: current portion of finance lease obligations (2.5) Long-term portion of finance lease obligations $ 1.3

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): December 31, 2020 2019 ESCO Notes Payable $ — $ 5.8 Wells Fargo Credit Facility 7.2 9.5 Encina Master Financing Agreement 17.3 27.1 Total Debt 24.5 42.4 Current portion of long-term debt (10.0) (15.8) Long term-debt, net $ 14.5 $ 26.6
Schedule of debt obligations and scheduled maturities	As of December 31, 2020, aggregate principal repayments of total debt for the next five years are as follows (in millions): For the years ending December 31, Total 2021 $ 10.0 2022 15.0 2023 0.2 Total $ 25.2

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of changes in the restricted shares outstanding	The following table summarizes the unvested activity for RSAs during the years ended December 31, 2020 and 2019: Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period Unvested at January 1, 2019 481,710 Granted 590,091 $ 7.59 2.1 years Forfeited (80,767) Vested (229,446) Unvested at December 31, 2019 761,588 $ 7.84 1.8 years Granted 649,039 $ 3.84 1.8 years Forfeited (59,790) Vested (340,110) Unvested at December 31, 2020 1,010,727 $ 5.30 1.5 years
Summary of market based restricted stock units	The following table summarizes the unvested activity for PSUs during the years ended December 31, 2020 and 2019: Relative Absolute Shares Weighted Average Weighted Average Shares Weighted Average Weighted Average Unvested as of January 1, 2019 35,482 35,482 Granted 52,960 $ 11.96 52,960 $ 9.50 Unvested as of December 31, 2019 88,442 88,442 Granted 60,631 $ 6.33 2.3 years 60,631 $ 3.62 2.3 years Unvested as of December 31, 2020 149,073 1.4 years 149,073 1.4 years
Summarizes the activity of treasury stock	The following table summarizes the activity of treasury stock for the years ended December 31, 2020 and 2019: Treasury Stock Quantity Amount Balance at January 1, 2019 — $ — Repurchase of Class A Common Stock (113,937) (0.7) Balance at December 31, 2019 (113,937) (0.7) Repurchase of Class A Common Stock (437,891) (3.1) Balance at December 31, 2020 (551,828) $ (3.8)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense	Years Ended December 31, 2020 2019 Current provision (benefit) Federal $ — $ — State (0.2) 0.4 Total current provision (benefit) (0.2) 0.4 Deferred provision (benefit) Federal 0.2 1.4 State — 0.4 Total deferred expense (benefit) 0.2 1.8 Income tax expense (benefit) $ — $ 2.2
Summary of reconciliation of the expected income tax expense on income (loss) before income taxes using the statutory federal income tax rate	A reconciliation of the expected income tax expense on income (loss) before income taxes using the statutory federal income tax rate of 21% for 2020 and 2019 to income tax expense follows (in millions): December 31, 2020 2019 Income (loss) before income taxes $ (18.5) $ 6.6 Statutory rate 21 % 21 % Income tax expense (benefit) computed at statutory rate $ (3.9) $ 1.4 Reconciling items State income taxes, net of federal tax benefit (0.1) 0.9 Nontaxable (loss) income allocated to non-controlling interest 1.7 (0.6) Valuation allowance 2.1 — Non-deductible expenses and other 0.2 0.5 Income tax expense (benefit) $ — $ 2.2
Summary of tax effects of the cumulative temporary differences resulting in the net deferred income tax asset (liability)	The tax effects of the cumulative temporary differences resulting in the net deferred income tax liability, which are shown in Other Long-Term Liabilities on the consolidated balance sheet, are as follows (in millions): December 31, 2020 2019 Deferred income tax assets Net operating loss carryforward $ 16.4 $ 16.4 Valuation allowance (5.3) (3.5) Net deferred income tax asset $ 11.1 $ 12.9 Deferred income tax liabilities Investment in partnership $ (11.1) $ (12.9) Property and equipment (0.5) (0.5) Deferred income tax liability (11.6) (13.4) Net deferred income tax liability $ (0.5) $ (0.5)

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per share	The following table presents the Company’s calculation of basic and diluted earnings or loss per share for the years ended December 31, 2020 and 2019 (in millions, except share and per share data): Years Ended December 31, 2020 2019 Income (loss) (numerator): Basic: Net income (loss) attributable to Ranger Energy Services, Inc. $ (10.3) $ 1.8 Net income (loss) attributable to Class A Common Stock $ (10.3) $ 1.8 Diluted: Net income (loss) attributable to Ranger Energy Services, Inc. $ (10.3) $ 1.8 Net income (loss) attributable to Class A Common Stock $ (10.3) $ 1.8 Weighted average shares (denominator): Weighted average number of shares - basic 8,532,923 8,634,013 Weighted average number of shares - diluted 8,532,923 8,634,013 Basic earnings (loss) per share $ (1.21) $ 0.21 Diluted earnings (loss) per share $ (1.21) $ 0.21

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of segment information	Segment information for the years ended December 31, 2020 and 2019 is as follows (in millions): Year Ended December 31, 2020 High Specification Rigs Completion and Other Services Processing Solutions Other Total Revenues $ 82.5 $ 98.5 $ 6.8 $ — $ 187.8 Cost of services 71.5 73.7 2.7 — 147.9 General and administrative — — — 22.1 22.1 Depreciation and amortization 20.2 10.2 3.2 1.4 35.0 Gain on debt retirement — — — (2.1) (2.1) Operating income (loss) (9.2) 14.6 0.9 (21.4) (15.1) Interest expense, net — — — 3.4 3.4 Income tax expense — — — — — Net income (loss) $ (9.2) $ 14.6 $ 0.9 $ (24.8) $ (18.5) Capital expenditures $ 5.0 $ 2.0 $ 0.5 $ 0.3 $ 7.8 As of December 31, 2020 Property and equipment, net $ 115.8 $ 30.8 $ 37.7 $ 5.1 $ 189.4 Total assets $ 154.3 $ 41.1 $ 38.4 $ 6.8 $ 240.6 Year Ended December 31, 2019 High Specification Rigs Completion and Other Services Processing Solutions Other Total Revenues $ 132.1 $ 184.3 $ 20.5 $ — $ 336.9 Cost of services 114.8 139.0 9.2 — 263.0 General and administrative — — — 26.7 26.7 Depreciation and amortization 20.1 11.4 2.2 1.1 34.8 Gain on debt retirement — — — — — Operating income (loss) (2.8) 33.9 9.1 (27.8) 12.4 Interest expense, net — — — 5.8 5.8 Income tax expense — — — 2.2 2.2 Net income (loss) $ (2.8) $ 33.9 $ 9.1 $ (35.8) $ 4.4 Capital expenditures $ 11.1 $ 4.1 $ 7.8 $ 0.5 $ 23.5 As of December 31, 2019 Property and equipment, net $ 132.2 $ 40.8 $ 40.5 $ 5.4 $ 218.9 Total assets $ 186.1 $ 57.4 $ 42.6 $ 7.4 $ 293.5

Organization and Business Ope_2

Organization and Business Operations - Business (Details)	12 Months Ended
	Dec. 31, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Accounts Receivable, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 1.6	$ 1.6
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Year	1.6	0.5
Charged to Operations	0.1	1.3
Written Off	(0.1)	(0.2)
Balance at End of Year	$ 1.6	$ 1.6

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Leases and Recent Accounting Pronouncements (Details)	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Minimum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	12 months
Lease term, finance leases	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	7 years
Lease term, finance leases	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Contract with customer, asset, after allowance for credit loss	$ 1.1	$ 1.2

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Net
Property and equipment	$ 300.6	$ 298.1
Less: accumulated depreciation	(113)	(85.5)
Construction in progress	1.8	6.3
Property and equipment, net	189.4	218.9
Depreciation expense	$ 34.2	34.1
High specification rigs
Property, Plant and Equipment, Net
Estimated Useful Life	20 years
Property and equipment	$ 127.2	127.2
High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	39.7	38.3
Completions and other services machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	56.5	55.8
Process solutions machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	45.9	40.8
Vehicles
Property, Plant and Equipment, Net
Property and equipment	20.4	25.9
Other property and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 10.9	$ 10.1
Minimum | High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	5 years
Minimum | Completions and other services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	5 years
Minimum | Process solutions machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	3 years
Minimum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life	3 years
Minimum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	5 years
Maximum | High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	10 years
Maximum | Completions and other services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	10 years
Maximum | Process solutions machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	30 years
Maximum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life	15 years
Maximum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life	25 years

Intangible Assets - Intangibles

Intangible Assets - Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible assets
Less: accumulated amortization	$ (2.9)	$ (2.1)
Intangible assets, net	8.5	9.3
Customer relationships
Intangible assets
Intangible assets, gross	$ 11.4	$ 11.4
Customer relationships | Minimum
Intangible assets
Estimated Useful Life (years)	10 years
Customer relationships | Maximum
Intangible assets
Estimated Useful Life (years)	18 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.8	$ 0.7

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
For the years ending December 31,
2021	$ 0.7
2022	0.7
2023	0.7
2024	0.7
2025	0.8
Thereafter	4.9
Intangible assets, net	$ 8.5	$ 9.3

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued payables	$ 2.7	$ 8.3
Accrued compensation	4.5	6.3
Accrued taxes	1	1.8
Accrued insurance	1.1	2
Accrued expenses	$ 9.3	$ 18.4

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Information Related to Operating and Finance Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Feb. 22, 2021
Leases [Abstract]
Short-term lease costs	$ 1.9	$ 5.4
Operating lease cost	2.6	3
Operating cash outflows from operating leases	$ 2.6	$ 2.9
Weighted average remaining lease term	6 years 1 month 6 days	5 years 9 months 18 days
Weighted average discount rate	8.50%	9.30%
Amortization of finance leases	$ 4.7	$ 5.2
Interest on lease liabilities	0.4	0.8
Financing cash outflows from finance leases	$ 4.7	$ 4.8
Weighted average remaining lease term	1 year 2 months 12 days	1 year 4 months 24 days
Weighted average discount rate	3.90%	4.30%
Subsequent Event
Lessee, Lease, Description [Line Items]
Cash consideration			$ 3.5

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases, Operating [Abstract]
2021	$ 1.2
2022	1.3
2023	1.2
2024	1.2
2025	1.2
Thereafter	1.7
Total future minimum lease payments	7.8
Less: amount representing interest	(1.9)
Present value of future minimum lease payments	5.9
Less: current portion of operating lease obligations	(0.7)
Long-term portion of finance lease obligations	5.2	$ 4.5
Leases, Capital [Abstract]
2021	2.7
2022	1
2023	0.4
2024	0
2025	0
Thereafter	0
Total future minimum lease payments	4.1
Less: amount representing interest	(0.3)
Present value of future minimum lease payments	3.8
Less: current portion of finance lease obligations	(2.5)	(5.1)
Long-term portion of finance lease obligations	$ 1.3	$ 3.6

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total Debt	$ 24.5	$ 42.4
Current portion of long-term debt	(10)	(15.8)
Long-term debt, net	14.5	26.6
ESCO Notes Payable
Debt Instrument [Line Items]
Total Debt	0	5.8	$ 5.8
Wells Fargo Credit Facility
Debt Instrument [Line Items]
Total Debt	7.2	9.5
Encina Master Financing Agreement
Debt Instrument [Line Items]
Total Debt	$ 17.3	$ 27.1

Debt - ESCO Notes Payable (Deta

Debt - ESCO Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 16, 2017
Debt Instrument [Line Items]
Gain on debt retirement	$ 2,100,000	$ 0
ESCO Notes Payable
Debt Instrument [Line Items]
Extinguishment of debt, amount			$ 5,800,000
Payment for retirement of debt	3,800,000
Gain on debt retirement	$ 2,100,000
Seller's Notes
Debt Instrument [Line Items]
Face amount of debt				$ 7,000,000
Interest rate (as a percent)				5.00%
Seller's Note Due August 2018
Debt Instrument [Line Items]
Face amount of debt				$ 1,200,000
Seller's Note Due February 2019
Debt Instrument [Line Items]
Face amount of debt				$ 5,800,000

Debt - Credit Facility (Details

Debt - Credit Facility (Details)	Aug. 16, 2017USD ($)	Mar. 31, 2020	Dec. 31, 2020USD ($)business_day	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Long-term Debt			$ 24,500,000	$ 42,400,000
Senior Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate			3.20%
Unamortized debt issuance costs	$ 700,000		$ 300,000
Long-term Debt			$ 7,500,000
Administrative agent business days | business_day			10
Percentage of compliance			12.50%
Cash dominion, number of consecutive business days		30 days	30 days
Minimum available cash			$ 20,000,000
Senior Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Residual available borrowings			6,250,000
Credit facility | Senior Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings	$ 50,000,000
Interest rate margin (as a percent)				4.30%
Credit facility | Senior Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)				2.20%
Credit facility | Senior Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.50%
Credit facility | Senior Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)	2.00%
Credit facility | Senior Revolving Credit Facility | Federal Funds Rate | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)	0.50%
Credit facility | Senior Revolving Credit Facility | Federal Funds Rate | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.00%
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowings			20,700,000
Residual available borrowings			$ 13,200,000

Debt - Encina Master Financing

Debt - Encina Master Financing and Security Agreement ("Financing Agreement") (Details)	Jun. 22, 2018USD ($)	Dec. 31, 2020USD ($)tranche	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Borrowings under Credit Facility		$ 44,600,000	$ 26,700,000
Principal balance outstanding		25,200,000
Master Financing And Security Agreement
Debt Instrument [Line Items]
Maximum borrowings	$ 40,000,000
Borrowings under Credit Facility	$ 22,000,000			$ 17,800,000
Principal balance outstanding		$ 17,700,000
Debt term		48 months
Number of tranches | tranche		3
Interest rate (as a percent)	8.00%
Leverage ratio			250.00%
Unamortized debt issuance costs	$ 900,000	$ 400,000
Master Financing And Security Agreement | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)		1.50%	1.50%
Master Financing And Security Agreement | Minimum
Debt Instrument [Line Items]
Maximum borrowings	$ 35,000,000

Debt - Schedule of Debt Obligat

Debt - Schedule of Debt Obligations and Scheduled Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
For the years ending December 31,
2021	$ 10
2022	15
2023	0.2
Total	$ 25.2

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, authorized percentage of outstanding Class A Common Stock held by non-affiliates	10.00%
Stock repurchase program, number of shares authorized to be repurchased (in shares)	580,000
Stock repurchase program, authorized amount	$ 5,000,000
Repurchase of Class A common stock		$ 3,100,000	$ 700,000
2019 Share Repurchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of share repurchase program	12 months
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of Class A Common Stock		344,828
Repurchase of Class A common stock		$ 2,400,000
Class A Common Stock | 2019 Share Repurchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of Class A Common Stock		93,063	113,937
Repurchase of Class A common stock		$ 700,000	$ 700,000
CSL Energy Holdings I, LLC and CSL Energy Holdings II, LLC | Master Reorganization Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment made to CSL Holdings I and CSL Holdings II in exchange for equity interests contributed to the Company (in shares)			$ 3,000,000
CSL Energy Holdings I, LLC and CSL Energy Holdings II, LLC | Master Reorganization Agreement | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)		206,898
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares issued (in shares)		649,039	590,091
Value of shares granted		$ 2,500,000	$ 4,500,000
Unrecognized compensation cost		$ 3,300,000
Weighted average period		1 year 6 months
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period		3 years
Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 900,000
LTIP | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for issuance (shares)		2,850,000

Equity - Schedule of Changes in

Equity - Schedule of Changes in Restricted Shares Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RSAs
Shares
Unvested as of beginning of year (in shares)	761,588	481,710
Granted (in shares)	649,039	590,091
Forfeited (in shares)	(59,790)	(80,767)
Vested (in shares)	(340,110)	(229,446)
Unvested as of end of year (in shares)	1,010,727	761,588
Weighted Average Grant Date Fair Value
Unvested as of beginning of year (in dollars per share)	$ 7.84
Granted (in dollars per share)	3.84	$ 7.59
Unvested as of end of year (in dollars per share)	$ 5.30	$ 7.84
Weighted Average Remaining Vesting Period
Granted (in years)	1 year 9 months 18 days	2 years 1 month 6 days
Outstanding (in years)	1 year 6 months	1 year 9 months 18 days
PSU's, Relative
Shares
Unvested as of beginning of year (in shares)	88,442	35,482
Granted (in shares)	60,631	52,960
Unvested as of end of year (in shares)	149,073	88,442
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 6.33	$ 11.96
Weighted Average Remaining Vesting Period
Granted (in years)	2 years 3 months 18 days
Outstanding (in years)	1 year 4 months 24 days
PSU's, Absolute
Shares
Unvested as of beginning of year (in shares)	88,442	35,482
Granted (in shares)	60,631	52,960
Unvested as of end of year (in shares)	149,073	88,442
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 3.62	$ 9.50
Weighted Average Remaining Vesting Period
Granted (in years)	2 years 3 months 18 days
Outstanding (in years)	1 year 4 months 24 days

Equity - Summarizes the Activit

Equity - Summarizes the Activity of Treasury Stock (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	$ 203	$ 192
Repurchase of Class A Common Stock	(3.1)	(0.7)
Balance at the end of the period	$ 184.8	$ 203
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period (in shares)	(113,937)	0
Balance at the beginning of the period	$ (0.7)	$ 0
Repurchase of Class A Common Stock (in shares)	(437,891)	(113,937)
Repurchase of Class A Common Stock	$ (3.1)	$ (0.7)
Balance at the end of the period (in shares)	(551,828)	(113,937)
Balance at the end of the period	$ (3.8)	$ (0.7)

Risk Concentrations (Details)

Risk Concentrations (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue | EOG Resources
Customer Concentrations
Concentration risk (as a percent)	21.00%	17.00%
Revenue | Concho Resources, Inc.
Customer Concentrations
Concentration risk (as a percent)	17.00%	14.00%
Accounts Receivable | EOG Resources
Customer Concentrations
Concentration risk (as a percent)	11.00%	12.00%
Accounts Receivable | Concho Resources, Inc.
Customer Concentrations
Concentration risk (as a percent)	10.00%	8.00%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Statutory rate	21.00%	21.00%
Statutory rate	21.00%	21.00%
Net operating loss carryforward	$ 71.5
Operating loss carryforwards, section 382 limited losses	9.8
Operating loss carryforwards, non-section 382 limited losses, expiring beginning 2038	20.6
Operating loss carryforwards, non-section 382 limited losses, not subject to expiration	41.1
COVID-19
Income Tax Contingency [Line Items]
Deferred payroll tax payments	$ 1.9

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current provision (benefit)
Federal	$ 0	$ 0
State	(0.2)	0.4
Total current provision (benefit)	(0.2)	0.4
Deferred provision (benefit)
Federal	0.2	1.4
State	0	0.4
Total deferred expense (benefit)	0.2	1.8
Income tax expense (benefit)	$ 0	$ 2.2

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (18.5)	$ 6.6
Statutory rate	21.00%	21.00%
Income tax expense (benefit) computed at statutory rate	$ (3.9)	$ 1.4
Reconciling items
State income taxes, net of federal tax benefit	(0.1)	0.9
Nontaxable (loss) income allocated to non-controlling interest	1.7	(0.6)
Valuation allowance	2.1	0
Non-deductible expenses and other	0.2	0.5
Income tax expense (benefit)	$ 0	$ 2.2

Income Taxes - Deferred Tax and

Income Taxes - Deferred Tax and NOL (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets
Net operating loss carryforward	$ 16.4	$ 16.4
Valuation allowance	(5.3)	(3.5)
Net deferred income tax asset	11.1	12.9
Deferred income tax liabilities
Investment in partnership	(11.1)	(12.9)
Property and equipment	(0.5)	(0.5)
Deferred income tax liability	(11.6)	(13.4)
Net deferred income tax liability	$ (0.5)	$ (0.5)

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Basic:
Net Income (Loss) Attributable to Parent	$ (10.3)	$ 1.8
Net income (loss) attributable to Class A Common Stock	(10.3)	1.8
Diluted:
Net Income (Loss) Attributable to Parent	(10.3)	1.8
Net income (loss) attributable to Class A Common Stock	$ (10.3)	$ 1.8
Weighted average shares (denominator):
Weighted average number of shares - basic (in shares)	8,532,923	8,634,013
Weighted average number of shares - diluted (in shares)	8,532,923	8,634,013
Basic earnings (loss) per share (in dollars per share)	$ (1.21)	$ 0.21
Diluted earnings (loss) per share (in dollars per share)	$ (1.21)	$ 0.21
Convertible common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,900,000	6,900,000
Equity-Based Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,300,000	1,200,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Remaining principal amount of seller's notes	$ 24.5	$ 42.4
Payment to ESCO for debt repayment and repurchase of shares	6.2
Repurchase of Class A common stock	3.1	0.7
Class A Common Stock
Other Commitments [Line Items]
Repurchase of Class A common stock	2.4
Notes Payable to Banks
Other Commitments [Line Items]
Remaining principal amount of seller's notes	0	$ 5.8	$ 5.8
Payment for retirement of debt	$ 3.8

Related Party Transactions - St

Related Party Transactions - Stockholders' Agreement (Details)	12 Months Ended
	Dec. 31, 2020director
CSL
Related Party Transaction [Line Items]
Threshold for the number of board of directors which will determine in if the nomination rights will be proportionately increased or decreased	8
CSL | Scenario One
Related Party Transaction [Line Items]
Number of board of directors allowed determined by the beneficial ownership interest in Ranger's common stock	3
CSL | Scenario One | Minimum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	50.00%
CSL | Scenario Two
Related Party Transaction [Line Items]
Number of board of directors allowed determined by the beneficial ownership interest in Ranger's common stock	3
CSL | Scenario Two | Minimum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	30.00%
CSL | Scenario Two | Maximum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	50.00%
CSL | Scenario Three
Related Party Transaction [Line Items]
Number of board of directors allowed determined by the beneficial ownership interest in Ranger's common stock	2
CSL | Scenario Three | Minimum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	20.00%
CSL | Scenario Three | Maximum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	30.00%
CSL | Scenario Four
Related Party Transaction [Line Items]
Number of board of directors allowed determined by the beneficial ownership interest in Ranger's common stock	1
CSL | Scenario Four | Minimum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	10.00%
CSL | Scenario Four | Maximum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	20.00%
CSL | Scenario Five | Maximum
Related Party Transaction [Line Items]
Percentage of beneficial ownership interest in Ranger's common stock used to determine the number of board of directors	10.00%
Bayou Holdings | Scenario One
Related Party Transaction [Line Items]
Number of board of directors allowed determined by the beneficial ownership interest in Ranger's common stock	2

Related Party Transactions - Re

Related Party Transactions - Redemption Rights (Details)	12 Months Ended
	Dec. 31, 2020shares
Ranger Bridge Loan
Related Party Transaction [Line Items]
Period after the consummation of an initial public offering that the debt may become due	10 days
Ranger LLC
Related Party Transaction [Line Items]
Redemption ratio, number of shares of Class A Common stock for each Ranger unit redeemed	1
Ranger Unit
Related Party Transaction [Line Items]
Redemption ratio, number of shares of Class A Common stock for each Ranger unit redeemed	1

Related Party Transactions - Pa

Related Party Transactions - Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CSL
Related Party Transaction [Line Items]
Related party expenses	$ 0.7	$ 0.9
CSL Energy Holdings I, LLC and CSL Energy Holdings II, LLC | Master Reorganization Agreement
Related Party Transaction [Line Items]
Payment made to CSL Holdings I and CSL Holdings II in exchange for equity interests contributed to the Company (in shares)		$ 3
Class A Common Stock | CSL Energy Holdings I, LLC and CSL Energy Holdings II, LLC | Master Reorganization Agreement
Related Party Transaction [Line Items]
Stock issued (in shares)	206,898

Related Party Transactions - Ta

Related Party Transactions - Tax Receivable Agreement and Registration Rights Agreement (Details) $ in Millions	Aug. 16, 2017USD ($)
TRA
Related Party Transaction [Line Items]
Percentage of net cash savings, if any, in U.S. federal, state and local income tax and franchise tax that the Company is required to pay	85.00%
Percentage of net cash savings in U.S. federal, state and local income tax and franchise tax that the Company will retain	15.00%
Discount rate (as a percent)	150.00%
Registration Rights Agreement
Related Party Transaction [Line Items]
Lock-up period	180 days
Period after closing of any underwritten offering of shares of Class A Common Stock in which the Company is not obligated to effect such a registration	90 days
Maximum value of registration of the Company's Class A common stock in which the Company is not obligated to effect any registration where such registration has been requested by holders of the Registrable Securities per the Registration Rights Agreement	$ 25

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Reporting
Revenues	$ 187.8	$ 336.9
Cost of services	147.9	263
General and administrative	22.1	26.7
Depreciation and amortization	35	34.8
Gain on debt retirement	(2.1)	0
Operating income (loss)	(15.1)	12.4
Interest expense, net	3.4	5.8
Income tax expense	0	2.2
Net income (loss)	(18.5)	4.4
Capital expenditures	7.8	23.5
Property and equipment, net	189.4	218.9
Total assets	240.6	293.5
Operating Segments | High Specification Rigs
Segment Reporting
Revenues	82.5	132.1
Cost of services	71.5	114.8
General and administrative	0	0
Depreciation and amortization	20.2	20.1
Gain on debt retirement	0	0
Operating income (loss)	(9.2)	(2.8)
Interest expense, net	0	0
Income tax expense	0	0
Net income (loss)	(9.2)	(2.8)
Capital expenditures	5	11.1
Property and equipment, net	115.8	132.2
Total assets	154.3	186.1
Operating Segments | Completion and Other Services
Segment Reporting
Revenues	98.5	184.3
Cost of services	73.7	139
General and administrative	0	0
Depreciation and amortization	10.2	11.4
Gain on debt retirement	0	0
Operating income (loss)	14.6	33.9
Interest expense, net	0	0
Income tax expense	0	0
Net income (loss)	14.6	33.9
Capital expenditures	2	4.1
Property and equipment, net	30.8	40.8
Total assets	41.1	57.4
Operating Segments | Processing Solutions
Segment Reporting
Revenues	6.8	20.5
Cost of services	2.7	9.2
General and administrative	0	0
Depreciation and amortization	3.2	2.2
Gain on debt retirement	0	0
Operating income (loss)	0.9	9.1
Interest expense, net	0	0
Income tax expense	0	0
Net income (loss)	0.9	9.1
Capital expenditures	0.5	7.8
Property and equipment, net	37.7	40.5
Total assets	38.4	42.6
Segment Reconciling Items
Segment Reporting
Revenues	0	0
Cost of services	0	0
General and administrative	22.1	26.7
Depreciation and amortization	1.4	1.1
Gain on debt retirement	(2.1)	0
Operating income (loss)	(21.4)	(27.8)
Interest expense, net	3.4	5.8
Income tax expense	0	2.2
Net income (loss)	(24.8)	(35.8)
Capital expenditures	0.3	0.5
Property and equipment, net	5.1	5.4
Total assets	$ 6.8	$ 7.4