Ranger Energy Services (RNGR) 10-Q 30 Jul 21 2021 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 28, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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	935-8900
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	RNGR
Security Exchange Name	NYSE
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 Central Index Key	0001699039
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		11,030,560
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,866,154

UNAUDITED INTERIM CONDENSED CON

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 3.4	$ 2.8
Accounts receivable, net	35.5	25.9
Contract assets	3	1.1
Inventory	2.7	2.3
Prepaid expenses	6.1	3.6
Total current assets	50.7	35.7
Property and equipment, net	182.6	189.4
Goodwill	1.8	0
Intangible assets, net	8.1	8.5
Operating leases, right-of-use assets	6.3	5.8
Other assets	1	1.2
Total assets	250.5	240.6
Liabilities and Stockholders' Equity
Accounts payable	13.5	10.5
Accrued expenses	9.9	9.3
Other financing liability, current portion	2.6	0
Long-term debt, current portion	10.4	10
Other current liabilities	3.9	3.2
Total current liabilities	40.3	33
Operating leases, right-of-use obligations	5	5.2
Other financing liability	13.4	0
Long-term debt, net	12.5	14.5
Other long-term liabilities	3.1	3.1
Total liabilities	74.3	55.8
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued or outstanding as of June 30, 2021 and December 31, 2020	0	0
Less: Class A Common Stock held in treasury at cost; 551,828 treasury shares as of June 30, 2021 and December 31, 2020	(3.8)	(3.8)
Accumulated deficit	(28.6)	(18.4)
Additional paid-in capital	139.5	123.9
Total controlling stockholders' equity	107.3	101.9
Noncontrolling interest	68.9	82.9
Total stockholders' equity	176.2	184.8
Total liabilities and stockholders' equity	250.5	240.6
Class A Common Stock
Stockholders' equity
Common stock A and B	0.1	0.1
Class B Common Stock
Stockholders' equity
Common stock A and B	$ 0.1	$ 0.1

UNAUDITED INTERIM CONDENSED C_2

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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
Treasury stock (in shares)	551,828	551,828
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)	10,682,388	9,093,743
Common stock, shares outstanding (in shares)	10,130,560	8,541,915
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

UNAUDITED INTERIM CONDENSED C_3

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Total revenues	$ 50	$ 30.7	$ 88.3	$ 111.7
Cost of services (exclusive of depreciation and amortization):
Cost of services	44.1	23.8	78.2	86.9
General and administrative	6.2	5.5	9.7	10.5
Depreciation and amortization	8.2	9.5	16.2	18.4
Total operating expenses	58.5	38.8	104.1	115.8
Operating loss	(8.5)	(8.1)	(15.8)	(4.1)
Other expenses
Interest expense, net	0.7	0.8	1.3	1.9
Total other expenses	0.7	0.8	1.3	1.9
Loss before income tax expense	(9.2)	(8.9)	(17.1)	(6)
Tax (benefit) expense	(0.1)	0	0.3	0.1
Net loss	(9.1)	(8.9)	(17.4)	(6.1)
Less: Net loss attributable to noncontrolling interests	(3.5)	(4)	(7.2)	(2.7)
Net loss attributable to Ranger Energy Services, Inc.	$ (5.6)	$ (4.9)	$ (10.2)	$ (3.4)
Loss per common share
Basic (in dollars per share)	$ (0.59)	$ (0.58)	$ (1.13)	$ (0.40)
Diluted (in dollars per share)	$ (0.59)	$ (0.58)	$ (1.13)	$ (0.40)
Weighted average common shares outstanding
Basic (in shares)	9,523,127	8,474,077	9,055,077	8,545,925
Diluted (in shares)	9,523,127	8,474,077	9,055,077	8,545,925
High specification rigs
Revenues
Total revenues	$ 29	$ 11.4	$ 50.7	$ 46.3
Cost of services (exclusive of depreciation and amortization):
Cost of services	24	10.1	43	40
Completion and other services
Revenues
Total revenues	19.8	17.7	35.3	61
Cost of services (exclusive of depreciation and amortization):
Cost of services	19.2	13.3	33.8	45
Processing solutions
Revenues
Total revenues	1.2	1.6	2.3	4.4
Cost of services (exclusive of depreciation and amortization):
Cost of services	$ 0.9	$ 0.4	$ 1.4	$ 1.9

UNAUDITED INTERIM CONDENSED C_4

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS 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 shareholders’ equity	Noncontrolling interest
Balance, beginning of period (in shares) at Dec. 31, 2019				8,839,788	6,866,154	113,937
Balance, beginning of 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)				270,135
Shares withheld for taxes on equity transactions (in shares)				(78,428)
Equity based compensation amortization	1.7							1.6	1.6	0.1
Shares withheld for taxes on equity transactions	(0.3)							(0.3)	(0.3)
Repurchase of Class A Common Stock (in shares)						(437,891)
Repurchase of Class A Common Stock	(3.1)					$ (3.1)			3.1
Net loss	(6.1)						(3.4)		(3.4)	(2.7)
Impact of transactions affecting noncontrolling interest								(2.1)	2.1	2.1
Balance, end of period (in shares) at Jun. 30, 2020				9,031,495	6,866,154	551,828
Balance, end of period at Jun. 30, 2020	195.2			$ 0.1	$ 0.1	$ (3.8)	(11.5)	121	105.9	89.3
Balance, beginning of period (in shares) at Mar. 31, 2020				8,947,830	6,866,154	551,828
Balance, beginning of period at Mar. 31, 2020	203.4			$ 0.1	$ 0.1	$ (3.8)	(6.6)	120.2	110	93.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				117,502
Shares withheld for taxes on equity transactions (in shares)				(33,837)
Equity based compensation amortization	0.9							0.9	0.9
Shares withheld for taxes on equity transactions	(0.2)							(0.2)	(0.2)
Net loss	(8.9)						(4.9)		(4.9)	(4)
Impact of transactions affecting noncontrolling interest								0.1	(0.1)	(0.1)
Balance, end of period (in shares) at Jun. 30, 2020				9,031,495	6,866,154	551,828
Balance, end of period at Jun. 30, 2020	195.2			$ 0.1	$ 0.1	$ (3.8)	(11.5)	121	105.9	89.3
Balance, beginning of period (in shares) at Dec. 31, 2020		9,093,743	6,866,154	9,093,743	6,866,154	551,828
Balance, beginning of period at Dec. 31, 2020	184.8			$ 0.1	$ 0.1	$ (3.8)	(18.4)	123.9	101.9	82.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				456,748
Shares withheld for taxes on equity transactions (in shares)				(124,103)
Share issuance for acquisitions (in shares)				1,256,000
Equity based compensation amortization	1.8							1.8	1.8
Shares withheld for taxes on equity transactions	(0.7)							(0.7)	(0.7)
Repurchase of Class A Common Stock (in shares)		(344,828)
Repurchase of Class A Common Stock		$ (2.4)
Net loss	(17.4)						(10.2)		(10.2)	(7.2)
Share issuance for acquisitions	7.7							7.7	7.7
Impact of transactions affecting noncontrolling interest								6.8	(6.8)	(6.8)
Balance, end of period (in shares) at Jun. 30, 2021		10,682,388	6,866,154	10,682,388	6,866,154	551,828
Balance, end of period at Jun. 30, 2021	176.2			$ 0.1	$ 0.1	$ (3.8)	(28.6)	139.5	107.3	68.9
Balance, beginning of period (in shares) at Mar. 31, 2021				9,329,306	6,866,154	551,828
Balance, beginning of period at Mar. 31, 2021	176.9			$ 0.1	$ 0.1	$ (3.8)	(23)	125	98.4	78.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				123,672
Shares withheld for taxes on equity transactions (in shares)				(26,590)
Share issuance for acquisitions (in shares)				1,256,000
Equity based compensation amortization	0.9							0.9	0.9
Shares withheld for taxes on equity transactions	(0.2)							(0.2)	(0.2)
Net loss	(9.1)						(5.6)		(5.6)	(3.5)
Share issuance for acquisitions	7.7							7.7	7.7
Impact of transactions affecting noncontrolling interest								6.1	6.1	(6.1)
Balance, end of period (in shares) at Jun. 30, 2021		10,682,388	6,866,154	10,682,388	6,866,154	551,828
Balance, end of period at Jun. 30, 2021	$ 176.2			$ 0.1	$ 0.1	$ (3.8)	$ (28.6)	$ 139.5	$ 107.3	$ 68.9

UNAUDITED INTERIM CONDENSED C_5

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities
Net loss	$ (17.4)	$ (6.1)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	16.2	18.4
Equity based compensation	1.8	1.7
Gain on debt retirement	0	(2.1)
Other costs, net	1.1	1.8
Changes in operating assets and liabilities, net effects of business combinations
Accounts receivable	(6.8)	25.4
Contract assets	(1.9)	0.1
Inventory	0.4	1.4
Prepaid expenses	(1)	3.5
Other assets	0.8	(0.2)
Accounts payable	2.4	(8.7)
Accrued expenses	0.7	(10.4)
Operating lease, right-of-use obligations	(0.5)	(1.1)
Other long-term liabilities	0.1	0.5
Net cash (used in) provided by operating activities	(4.1)	24.2
Cash Flows from Investing Activities
Purchase of property and equipment	(1.8)	(5.8)
Proceeds from disposal of property and equipment	0.4	0.3
Purchase of business, net of cash received	(3.5)	0
Net cash used in investing activities	(4.9)	(5.5)
Cash Flows from Financing Activities
Borrowings under Credit Facility	20.6	32.6
Principal payments on Credit Facility	(18.4)	(37.6)
Principal payments on Encina Master Financing Agreement	(5)	(5)
Payments on Installment Purchases	(0.3)	0
Proceeds from financing of sale-leasebacks	15.6	0
Principal payments on financing lease obligations	(2.2)	(2.6)
Shares withheld on equity transactions	(0.7)	(0.3)
Principal payments on ESCO Note Payable	0	(3.6)
Repurchase of Class A Common Stock	0	(3.1)
Net cash provided by (used in) financing activities	9.6	(19.6)
Increase (decrease) in Cash and Cash equivalents	0.6	(0.9)
Cash and Cash Equivalents, Beginning of Period	2.8	6.9
Cash and Cash Equivalents, End of Period	3.4	6
Supplemental Cash Flow Information
Interest paid	0.9	1.7
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures	(1.1)	0.1
Additions to fixed assets through financing leases	(0.7)	(1)
Issuance of Class A Common Stock for acquisition	(7.7)	0
Early termination of financing leases	$ 0	$ 0.7

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2021
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. The Company also provides an extensive range of well site services to leading U.S. exploration and production (“E&P”) companies that are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. The Company offers services that 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 the high-spec rig services to enhance the production of a well. • Processing Solutions . Provides proprietary, modular equipment for the processing of natural gas. The Company’s operations take place 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, and its sole material assets 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 Condensed 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 Condensed 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, the Organization of the Petroleum Exporting Countries (“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 natural gas liquids (“NGLs”) prices through the second quarter of 2021. 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. 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 of 2020, the Company initiated cost reductions throughout the organization, including a reduction in the workforce and salary reductions. However, during the second quarter of 2021 certain employee salaries were reinstated. 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 condensed consolidated financial statements. During the first half of 2021, increased activity can be attributed to stay-at-home orders and other restrictions being lifted in certain geographical areas, however any future containment measure, as a result of the emergence of new strains or variants of COVID-19 or otherwise, could curtail such growth. 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	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The consolidated balance sheet as of December 31, 2020 has been derived from audited financial statements and the unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and the Securities and Exchange Commission’s (the “SEC”) instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain notes and other information have been condensed or omitted. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for the fair presentation of the results of operations for the interim periods. These interim financial statements should be read in conjunction with the consolidated financial statements and related notes for the years ended December 31, 2020 and 2019, included in the Annual Report filed on Form 10-K for the year ended December 31, 2020 (the “Annual Report”). Interim results for the periods presented may not be indicative of results that will be realized for future periods. Significant Accounting Policies The Company’s significant accounting policies are disclosed in Note 2 — Summary of Significant Accounting Policies of the Annual Report. There have been no changes in such policies or the application of such policies during the six months ended June 30, 2021. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. 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 condensed 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. Emerging Growth Company Status and Smaller Reporting Company Status The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012. 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 its initial public offering (“IPO”), (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 the Company’s 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 generally to public companies. The Company has irrevocably opted out of the extended transition period and, as a result, the Company will adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies. The Company is also a “smaller reporting company” as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as Amended. 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 has (i) market value of common stock held by non-affiliates of less than $250 million; or (ii) 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. New Accounting Pronouncements Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued 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 condensed consolidated financial statements.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Note 3 — Business Combinations Patriot Well Solutions (“Patriot”) Acquisition On May 14, 2021, the Company and certain of its subsidiaries completed the acquisition of Patriot (the “Patriot Acquisition”), a provider of wireline evaluation and intervention services that operate in the Permian, Denver-Julesburg and Powder River Basins and Bakken Shale. The purchase was accounted for using the acquisition method of accounting under FASBs Accounting Standards Codification 805, Business Combinations (“ASC 805”). The results of operations for the acquisition are included in the accompanying condensed consolidated statements of operations from the date of acquisition. As consideration for the Patriot Acquisition, pursuant to the Membership Interest Purchase Agreement, the Company paid an aggregate of $11.0 million, which included 1.3 million shares of Class A Common Stock and cash payments of $3.3 million, net of cash acquired. The financial results of Patriot are included in the Completion and Other Services reporting segment. The pro forma results of operations for the Patriot Acquisition is not presented because the pro forma effects, individually and in the aggregate, are not material to the Company’s consolidated results of operations.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Note 4 — Property and Equipment, Net Property and equipment, net include the following (in millions): Estimated Useful Life June 30, 2021 December 31, 2020 High specification rigs 20 $ 127.0 $ 127.2 High specification rigs machinery and equipment 5 - 10 41.8 39.7 Completion and other services machinery and equipment 5 - 10 59.3 56.5 Processing solutions machinery and equipment 3 - 30 46.7 45.9 Vehicles 3 - 15 23.5 20.4 Other property and equipment 5 - 25 11.0 10.9 Property and equipment 309.3 300.6 Less: accumulated depreciation (128.4) (113.0) Construction in progress 1.7 1.8 Property and equipment, net $ 182.6 $ 189.4 Depreciation expense was $8.0 million and $9.3 million for the three months ended June 30, 2021 and 2020, respectively, and $15.8 million and $18.0 million for the six months ended June 30, 2021 and 2020, respectively. During the three and six months ended June 30, 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. Please see “Note 1 — Organization and Business Operations—Recent Events” for additional information regarding the macroeconomic environment and “Part I, Item 8. Financial Statements and Supplementary Data — Note 2 — Summary of Significant Accounting Policies — Significant Accounting Policies — Long-Lived Asset Impairment” of the Annual Report for the Company’s policy of testing long-lived assets for impairments.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5 — Goodwill and Intangible Assets During the three and six months ended June 30, 2021, the Company recognized $1.8 million of goodwill in connection with the Patriot Acquisition. Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life June 30, 2021 December 31, 2020 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (3.3) (2.9) Intangible assets, net $ 8.1 $ 8.5 Amortization expense was $0.2 million for both of the three months ended June 30, 2021 and 2020, and $0.4 million for both of the six months ended June 30, 2021 and 2020. Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending June 30, Amount 2022 $ 0.7 2023 0.7 2024 0.7 2025 0.7 2026 0.7 Thereafter 4.6 Total $ 8.1

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Note 6 — Accrued Expenses Accrued expenses include the following (in millions): June 30, 2021 December 31, 2020 Accrued payables $ 3.9 $ 2.7 Accrued compensation 4.8 4.5 Accrued taxes 1.0 1.0 Accrued insurance 0.2 1.1 Accrued expenses $ 9.9 $ 9.3

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases, Capital [Abstract]
Leases	Note 7 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from 12 months to seven years, included in operating lease costs in the table below. The operating leases are included in operating leases, right-of-use assets, other current liabilities and operating leases, right-of-use obligations in the Condensed Consolidated Balance Sheets. Lease costs associated with yard and field offices are included in cost of services and executive offices are included in general and administrative costs in the Condensed Consolidated Statements of Operations. Lease costs and other information related to operating leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Short-term lease costs $ 0.5 $ 0.6 $ 0.8 $ 1.4 Operating lease cost $ 0.5 $ 0.7 $ 0.8 $ 1.4 Operating cash outflows from operating leases $ 0.4 $ 0.7 $ 0.7 $ 1.4 Weighted average remaining lease term 5.1 years 6.0 years Weighted average discount rate 8.6 % 9.3 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.0 2023 1.4 2024 1.2 2025 1.2 2026 1.2 Thereafter 1.2 Total future minimum lease payments 8.2 Less: amount representing interest (1.7) Present value of future minimum lease payments 6.5 Less: current portion of operating lease obligations (1.5) Long-term portion of finance lease obligations $ 5.0 Finance Leases The Company leases certain assets, primarily automobiles, under finance leases with terms that are generally three Lease costs and other information related to finance leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amortization of finance leases $ 0.8 $ 1.4 $ 1.6 $ 2.8 Interest on lease liabilities $ 0.1 $ 0.1 $ 0.2 $ 0.3 Financing cash outflows from finance leases $ 1.4 $ 1.4 $ 2.2 $ 2.6 Weighted average remaining lease term 1.5 years 1.5 years Weighted average discount rate 3.5 % 4.0 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.5 2023 1.1 2024 0.4 2025 0.1 Total future minimum lease payments 4.1 Less: amount representing interest (0.2) Present value of future minimum lease payments 3.9 Less: current portion of finance lease obligations (2.4) Long-term portion of finance lease obligations $ 1.5 Note 8 — Other Financing Liabilities During the three and six months ended June 30, 2021, the Company entered into an agreement to sell a parcel of land and a building attached thereto, and subsequently leased back the property. The Company received cash of $12.1 million from the sale and the lease has a 15 year term with an annual rent escalation of two percent per annum. During the six months ended June 30, 2021, the Company entered into an agreement to sell certain of other fixed assets and subsequently leased back such assets and received cash of $3.5 million to be paid over 18 to 60 months. The sale of the fixed assets during the three and six months ended June 30, 2021, did not qualify for sale accounting, therefore these leases were classified as finance leases and no gain or loss was recorded. The net book value of the assets remained in property and equipment, net and are depreciating over their original useful lives. As of June 30, 2021, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.6 2023 1.4 2024 0.7 2025 0.7 2026 0.7 Thereafter 9.9 Total future minimum lease payments $ 16.0
Leases	Note 7 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from 12 months to seven years, included in operating lease costs in the table below. The operating leases are included in operating leases, right-of-use assets, other current liabilities and operating leases, right-of-use obligations in the Condensed Consolidated Balance Sheets. Lease costs associated with yard and field offices are included in cost of services and executive offices are included in general and administrative costs in the Condensed Consolidated Statements of Operations. Lease costs and other information related to operating leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Short-term lease costs $ 0.5 $ 0.6 $ 0.8 $ 1.4 Operating lease cost $ 0.5 $ 0.7 $ 0.8 $ 1.4 Operating cash outflows from operating leases $ 0.4 $ 0.7 $ 0.7 $ 1.4 Weighted average remaining lease term 5.1 years 6.0 years Weighted average discount rate 8.6 % 9.3 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.0 2023 1.4 2024 1.2 2025 1.2 2026 1.2 Thereafter 1.2 Total future minimum lease payments 8.2 Less: amount representing interest (1.7) Present value of future minimum lease payments 6.5 Less: current portion of operating lease obligations (1.5) Long-term portion of finance lease obligations $ 5.0 Finance Leases The Company leases certain assets, primarily automobiles, under finance leases with terms that are generally three Lease costs and other information related to finance leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amortization of finance leases $ 0.8 $ 1.4 $ 1.6 $ 2.8 Interest on lease liabilities $ 0.1 $ 0.1 $ 0.2 $ 0.3 Financing cash outflows from finance leases $ 1.4 $ 1.4 $ 2.2 $ 2.6 Weighted average remaining lease term 1.5 years 1.5 years Weighted average discount rate 3.5 % 4.0 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.5 2023 1.1 2024 0.4 2025 0.1 Total future minimum lease payments 4.1 Less: amount representing interest (0.2) Present value of future minimum lease payments 3.9 Less: current portion of finance lease obligations (2.4) Long-term portion of finance lease obligations $ 1.5

Other Financing Liabilities

Other Financing Liabilities	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Other Financing Liabilities	Note 7 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from 12 months to seven years, included in operating lease costs in the table below. The operating leases are included in operating leases, right-of-use assets, other current liabilities and operating leases, right-of-use obligations in the Condensed Consolidated Balance Sheets. Lease costs associated with yard and field offices are included in cost of services and executive offices are included in general and administrative costs in the Condensed Consolidated Statements of Operations. Lease costs and other information related to operating leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Short-term lease costs $ 0.5 $ 0.6 $ 0.8 $ 1.4 Operating lease cost $ 0.5 $ 0.7 $ 0.8 $ 1.4 Operating cash outflows from operating leases $ 0.4 $ 0.7 $ 0.7 $ 1.4 Weighted average remaining lease term 5.1 years 6.0 years Weighted average discount rate 8.6 % 9.3 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.0 2023 1.4 2024 1.2 2025 1.2 2026 1.2 Thereafter 1.2 Total future minimum lease payments 8.2 Less: amount representing interest (1.7) Present value of future minimum lease payments 6.5 Less: current portion of operating lease obligations (1.5) Long-term portion of finance lease obligations $ 5.0 Finance Leases The Company leases certain assets, primarily automobiles, under finance leases with terms that are generally three Lease costs and other information related to finance leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amortization of finance leases $ 0.8 $ 1.4 $ 1.6 $ 2.8 Interest on lease liabilities $ 0.1 $ 0.1 $ 0.2 $ 0.3 Financing cash outflows from finance leases $ 1.4 $ 1.4 $ 2.2 $ 2.6 Weighted average remaining lease term 1.5 years 1.5 years Weighted average discount rate 3.5 % 4.0 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.5 2023 1.1 2024 0.4 2025 0.1 Total future minimum lease payments 4.1 Less: amount representing interest (0.2) Present value of future minimum lease payments 3.9 Less: current portion of finance lease obligations (2.4) Long-term portion of finance lease obligations $ 1.5 Note 8 — Other Financing Liabilities During the three and six months ended June 30, 2021, the Company entered into an agreement to sell a parcel of land and a building attached thereto, and subsequently leased back the property. The Company received cash of $12.1 million from the sale and the lease has a 15 year term with an annual rent escalation of two percent per annum. During the six months ended June 30, 2021, the Company entered into an agreement to sell certain of other fixed assets and subsequently leased back such assets and received cash of $3.5 million to be paid over 18 to 60 months. The sale of the fixed assets during the three and six months ended June 30, 2021, did not qualify for sale accounting, therefore these leases were classified as finance leases and no gain or loss was recorded. The net book value of the assets remained in property and equipment, net and are depreciating over their original useful lives. As of June 30, 2021, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.6 2023 1.4 2024 0.7 2025 0.7 2026 0.7 Thereafter 9.9 Total future minimum lease payments $ 16.0

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Note 9 — Debt The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): June 30, 2021 December 31, 2020 Credit Facility $ 9.5 $ 7.2 Encina Master Financing Agreement 12.4 17.3 Installment Purchases 1.0 — Promissory Note — — Total Debt 22.9 24.5 Current portion of long-term debt (10.4) (10.0) Long term-debt, net $ 12.5 $ 14.5 Credit Facility On August 16, 2017, Ranger Services, entered into a $50.0 million senior secured 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 Credit Facility is subject to a borrowing base that is calculated based upon a percentage of the Company’s eligible accounts receivable less certain reserves. The Company’s eligible accounts receivable serves as collateral for the borrowings under the Credit Facility and is scheduled to mature in August 2022. The applicable margin for the 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 margins for the LIBOR loan was 2.1% and the Base Rate loan was 4.3% as of June 30, 2021. The weighted average interest rate for the borrowings under the Credit Facility was 2.6% for the six months ended June 30, 2021. The applicable margin for the LIBOR and Base Rate loans will decrease to 1.75% and 0.75% effective July 1, 2021 due to an increase in the average availability. Under the Credit Facility, the total loan capacity was $22.5 million, which was based on a borrowing base certificate in effect as of June 30, 2021. The Company had outstanding borrowings of $9.7 million under the Credit Facility, leaving a residual $12.8 million available for borrowings as of June 30, 2021. The Company was in compliance with the Credit Facility covenants as of June 30, 2021. The Company capitalized fees of $0.7 million associated with the Credit Facility, which are included in the Condensed Consolidated Balance Sheets as a discount to the Credit Facility. Such fees will continue to be amortized through maturity and are included in Interest Expense, net on the Condensed Consolidated Statement of Operations. Unamortized debt issuance costs as of June 30, 2021 was $0.2 million. Encina Master Financing and Security Agreement On June 22, 2018, the Company entered into a Master Financing and Security Agreement (the “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-spec rig assets. As of June 30, 2021, the aggregate principal balance outstanding under the Financing Agreement was $12.7 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 LIBOR, which was 1.5% as of June 30, 2021. Under the terms of the Financing Agreement, in no event will LIBOR fall below 1.5% and it requires the Company to maintain a leverage ratio of 2.5 to 1.0. The Company was in compliance with the covenants under the Financing Agreement as of June 30, 2021. The Company capitalized fees of $0.9 million associated with the Financing Agreement, which are included in the Condensed Consolidated Balance Sheets as a discount to the long term debt. Such fees will continue to be amortized through maturity and are included in Interest Expense, net in the Condensed Consolidated Statements of Operations. Unamortized debt issuance costs as of June 30, 2021 was $0.3 million. Other Installment Purchases During the three and six months ended June 30, 2021, the Company entered into various Installment and Security Agreements (collectively, the “Installment Agreements”) in connection with the purchase of certain ancillary equipment, where such assets are being held as collateral. As of June 30, 2021, the aggregate principal balance outstanding under the Installment Agreements was $1.0 million and is payable ratably over 36 months from the time of each purchase. The monthly installment payments contain an imputed interest rate that are consistent with the Company’s incremental borrowing rate and is not significant to the Company. ESCO Notes Payable In connection with the IPO 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 $5.8 million, which was settled in March 2020. During the six months ended June 30, 2020, the Company 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, which is included in the Condensed Consolidated Statement of Operations within General and administrative expenses. Debt Obligations and Scheduled Maturities As of June 30, 2021, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 10.4 2023 12.7 2024 0.3 Total $ 23.4

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Equity	Note 10 — Equity Equity-Based Compensation In 2017, the Company adopted the Ranger Energy Services, Inc. 2017 Long Term Incentive Plan (the “2017 Plan”). The Company has granted shares of restricted stock (“restricted shares” or “RSAs”) and performance-based restricted stock units (“performance stock units” or “PSUs”) under the 2017 Plan. Restricted Stock Awards The Company has granted RSAs, which generally vest in three equal annual installments beginning on the first anniversary date of the grant. During the three and six months ended June 30, 2021, the Company granted 500,073 restricted shares with an aggregate value of $3.0 million. During the three and six months ended June 30, 2020, the Company granted 465,304 restricted shares with an aggregate fair value of $2.0 million. As of June 30, 2021, there was an aggregate $4.7 million of unrecognized expense related to restricted shares issued which are expected to be recognized over a weighted average period of 1.9 years. Performance Stock Units The performance criteria applicable to performance stock units that have been granted by the Company are based on relative total shareholder return, which measures the Company’s total shareholder return as compared to the total shareholder return of a designated peer group, and absolute total shareholder return. Generally, the performance stock units are subject to an approximated three-year performance period. During the three and six months ended June 30, 2021, the Company granted 145,270 target shares of market based performance stock units at a relative and absolute grant date fair value of approximately $9.24 and $7.45 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on March 15, 2024. During the three and six months ended June 30, 2020, the Company granted 121,262 target shares of market based performance stock units at a relative and absolute grant date fair value of $6.33 per share and $3.62 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on April 3, 2023. As of June 30, 2021, there was an aggregate $1.8 million of unrecognized compensation cost related to performance stock units which are expected to be recognized over a weighted average period of 1.9 years. Share Repurchases During the six months ended June 30, 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 14 — 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 have taken 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 six months ended June 30, 2020, the Company repurchased 93,063 shares of the Company’s Class A Common Stock for an aggregate $0.7 million.

Risk Concentrations

Risk Concentrations	6 Months Ended
	Jun. 30, 2021
Risk Concentrations
Risk Concentrations	Note 11 — Risk Concentrations Customer Concentrations For the three months ended June 30, 2021, two customers, EOG Resources and ConocoPhillips, accounted for 20% and 14%, respectively, of the Company’s consolidated revenues. For the six months ended June 30, 2021, the same two customers accounted for 22% and 12%, respectively, of the Company’s consolidated revenues. As of June 30, 2021, approximately 28% of the net accounts receivable balance was due from these customers. For the three months ended June 30, 2020, two customers, EOG Resources and Concho Resources, Inc., accounted for 23% and 18%, respectively, of the Company’s consolidated revenues. For the six months ended June 30, 2020, the same two customers each accounted for 19% of the Company’s consolidated revenues. As of June 30, 2020, approximately 18% of the accounts receivable balance was due from these customers.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 12 — Income Taxes 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 six months ended June 30, 2021 and 2020 was (1.7)% and 0.0%, respectively. The Company is subject to the Texas Margin Tax that requires tax payments at a maximum statutory effective rate of 0.75% on the taxable margin of each taxable entity that does business in Texas. As a result of the initial public offering and subsequent reorganization, the Company recorded a deferred tax asset. However, a full valuation allowance (“VA”) has been recorded to reduce the Company’s net deferred tax assets to an amount that is more likely than not to be realized. The VA 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. Total income tax expense for the three and six months ended June 30, 2021 and 2020 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income or loss primarily due to changes in the valuation allowance related to pre-tax book income or loss and the impact of permanent differences between book and taxable income or loss attributable to noncontrolling interest. The effective tax rate includes a rate benefit attributable to the fact that Ranger LLC operates as a limited liability company treated as a partnership for federal and state income tax purposes and as such, is not subject to federal and state income taxes, except for the State of Texas for which Ranger LLC files with the Company. Accordingly, the portion of earnings attributable to noncontrolling interest is subject to tax when reported as a component of the noncontrolling interest’s taxable income. The Company is subject to the following material taxing jurisdictions: the United States and Texas. As of June 30, 2021, the Company has no current tax years under audit. The Company remains subject to examination for federal income taxes and state income taxes for tax years 2019, 2018, 2017 and 2016. The Company has evaluated all tax positions for which the statute of limitations remains open and believes that the material positions taken would more likely than not be sustained upon examination. Therefore, as of June 30, 2021, the Company had not established any reserves for, nor recorded any unrecognized benefits related to, uncertain tax positions. 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. For the three and six months ended June 30, 2021, there were no material tax impacts to the condensed consolidated financial statements as it relates to COVID-19 measures. However, the Company has deferred payroll tax payments of $1.9 million as of June 30, 2021, where 50% of the deferral is due by December 31, 2021. The Company will continue to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others.

Loss per Share

Loss per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Loss per Share	Note 13 — Loss per Share Loss per share is based on the amount of net loss allocated to the shareholders and the weighted average number of shares outstanding during the period for each class of Common Stock. The numerator and denominator used to compute loss per share were as follows (in millions, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Loss (numerator): Basic: Net loss attributable to Ranger Energy Services, Inc. $ (5.6) $ (4.9) $ (10.2) $ (3.4) Net loss attributable to Class A Common Stock $ (5.6) $ (4.9) $ (10.2) $ (3.4) Diluted: Net loss attributable to Ranger Energy Services, Inc. $ (5.6) $ (4.9) $ (10.2) $ (3.4) Net loss attributable to Class A Common Stock $ (5.6) $ (4.9) $ (10.2) $ (3.4) Weighted average shares (denominator): Weighted average number of shares - basic 9,523,127 8,474,077 9,055,077 8,545,925 Weighted average number of shares - diluted 9,523,127 8,474,077 9,055,077 8,545,925 Basic loss per share $ (0.59) $ (0.58) $ (1.13) $ (0.40) Diluted loss per share $ (0.59) $ (0.58) $ (1.13) $ (0.40) During the three and six months ended June 30, 2021 and 2020, the Company excluded approximately 1.3 million and 0.9 million of equity-based awards, respectively. For all periods presented in the table above, the Company excluded 6.9 million shares of Common Stock issuable upon conversion of the Company’s Class B Common Stock in calculating diluted loss per share. These items were excluded from the calculation of the loss per share, as the effect was anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 — 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 currently pending matters will have a material adverse effect on its condensed consolidated financial position or results of operations. 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 the 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 six months ended June 30, 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. Please see “Note 9 — Debt” and “Note 10 — Equity” for further details of the debt and equity settlements.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segment Reporting	Note 15 — Segment Reporting The Company’s operations are located in the United States and organized into three reportable 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 condensed consolidated financial statements. The CODM evaluates the segments’ operating performance based on multiple measures including Operating income, Adjusted EBITDA, rig hours and rig utilization. The tables below present the operating income measurement, as the Company believes this is most consistent with the principals used in measuring the condensed consolidated financial statements. The following is a description of each operating segment: High Specification Rigs. The Company’s high-spec 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 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-spec 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. 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 often utilized in conjunction with the high-spec rig 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 as of June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020 is as follows (in millions): High Specification Rigs Completion and Other Services Processing Solutions Other Total Three Months Ended June 30, 2021 Revenues $ 29.0 $ 19.8 $ 1.2 $ — $ 50.0 Cost of services 24.0 19.2 0.9 — 44.1 Depreciation and amortization 4.7 2.5 0.7 0.3 8.2 Operating income (loss) 0.3 (1.9) (0.4) (6.5) (8.5) Interest expense, net — — — 0.7 0.7 Net income (loss) 0.3 (1.9) (0.4) (7.1) (9.1) Capital expenditures $ 1.4 $ 0.9 $ — $ — $ 2.3 Six Months Ended June 30, 2021 Revenues $ 50.7 $ 35.3 $ 2.3 $ — $ 88.3 Cost of services 43.0 33.8 1.4 — 78.2 Depreciation and amortization 9.5 4.7 1.3 0.7 16.2 Operating income (loss) (1.8) (3.2) (0.4) (10.4) (15.8) Interest expense, net — — — 1.3 1.3 Net income (loss) (1.8) (3.2) (0.4) (12.0) (17.4) Capital expenditures $ 2.4 $ 1.1 $ — $ — $ 3.5 As of June 30, 2021 Property and equipment, net $ 108.6 $ 32.8 $ 36.3 $ 4.9 $ 182.6 Total assets $ 158.4 $ 47.8 $ 37.1 $ 7.2 $ 250.5 High Specification Rigs Completion and Other Services Processing Solutions Other Total Three Months Ended June 30, 2020 Revenues $ 11.4 $ 17.7 $ 1.6 $ — $ 30.7 Cost of services 10.1 13.3 0.4 — 23.8 Depreciation and amortization 5.2 2.6 1.3 0.4 9.5 Operating income (loss) (3.9) 1.8 (0.1) (5.9) (8.1) Interest expense, net — — — 0.8 0.8 Net income (loss) $ (3.9) $ 1.8 $ (0.1) $ (6.7) $ (8.9) Capital expenditures $ (0.3) $ 0.5 $ 0.2 $ 0.3 $ 0.7 Six Months Ended June 30, 2020 Revenues $ 46.3 $ 61.0 $ 4.4 $ — $ 111.7 Cost of services 40.0 45.0 1.9 — 86.9 Depreciation and amortization 10.5 5.3 1.9 0.7 18.4 Operating income (loss) (4.2) 10.7 0.6 (11.2) (4.1) Interest expense, net — — — 1.9 1.9 Net income (loss) (4.2) 10.7 0.6 (13.2) (6.1) Capital expenditures $ 4.3 $ 1.7 $ 0.4 $ 0.3 $ 6.7 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

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events PerfX Wireline Services, LLC (“PerfX”) Acquisition On July 8, 2021 (the “Acquisition Date”), the Company and certain of its subsidiaries, entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with PerfX Wireline Services, LLC, a Nevada limited liability company (the “PerfX Acquisition”). As consideration for the assets acquired pursuant to the Asset Purchase Agreement, the Company issued 1,000,000 shares of Class A Common Stock, in addition to a Secured Promissory Note of $11.4 million, which bears an interest rate of 8.5% per annum and holds certain assets as collateral through the scheduled maturity date of January 31, 2024. The PerfX Acquisition will be accounted for using the acquisition method of accounting in accordance with ASC 805. The results of operations for the acquisition will be included in the accompanying condensed consolidated statements of operations from the Acquisition Date. The initial accounting for the PerfX Acquisition has not yet been completed, however management expects to finalize during the year ending December 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet as of December 31, 2020 has been derived from audited financial statements and the unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and the Securities and Exchange Commission’s (the “SEC”) instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain notes and other information have been condensed or omitted. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for the fair presentation of the results of operations for the interim periods. These interim financial statements should be read in conjunction with the consolidated financial statements and related notes for the years ended December 31, 2020 and 2019, included in the Annual Report filed on Form 10-K for the year ended December 31, 2020 (the “Annual Report”). Interim results for the periods presented may not be indicative of results that will be realized for future periods.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. 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 condensed 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.
Emerging Growth Company status	Emerging Growth Company Status and Smaller Reporting Company Status The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012. 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 its initial public offering (“IPO”), (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 the Company’s 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 generally to public companies. The Company has irrevocably opted out of the extended transition period and, as a result, the Company will adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies.
New Accounting Pronouncements	New Accounting Pronouncements Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued 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 condensed consolidated financial statements.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment, net include the following (in millions): Estimated Useful Life June 30, 2021 December 31, 2020 High specification rigs 20 $ 127.0 $ 127.2 High specification rigs machinery and equipment 5 - 10 41.8 39.7 Completion and other services machinery and equipment 5 - 10 59.3 56.5 Processing solutions machinery and equipment 3 - 30 46.7 45.9 Vehicles 3 - 15 23.5 20.4 Other property and equipment 5 - 25 11.0 10.9 Property and equipment 309.3 300.6 Less: accumulated depreciation (128.4) (113.0) Construction in progress 1.7 1.8 Property and equipment, net $ 182.6 $ 189.4

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 December 31, 2020 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (3.3) (2.9) Intangible assets, net $ 8.1 $ 8.5
Schedule of aggregated amortization expense for future periods	Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending June 30, Amount 2022 $ 0.7 2023 0.7 2024 0.7 2025 0.7 2026 0.7 Thereafter 4.6 Total $ 8.1

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses include the following (in millions): June 30, 2021 December 31, 2020 Accrued payables $ 3.9 $ 2.7 Accrued compensation 4.8 4.5 Accrued taxes 1.0 1.0 Accrued insurance 0.2 1.1 Accrued expenses $ 9.9 $ 9.3

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases, Capital [Abstract]
Schedule of other information related to operating and finance leases	Lease costs associated with yard and field offices are included in cost of services and executive offices are included in general and administrative costs in the Condensed Consolidated Statements of Operations. Lease costs and other information related to operating leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Short-term lease costs $ 0.5 $ 0.6 $ 0.8 $ 1.4 Operating lease cost $ 0.5 $ 0.7 $ 0.8 $ 1.4 Operating cash outflows from operating leases $ 0.4 $ 0.7 $ 0.7 $ 1.4 Weighted average remaining lease term 5.1 years 6.0 years Weighted average discount rate 8.6 % 9.3 % Lease costs and other information related to finance leases for the three and six months ended June 30, 2021 and 2020, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Amortization of finance leases $ 0.8 $ 1.4 $ 1.6 $ 2.8 Interest on lease liabilities $ 0.1 $ 0.1 $ 0.2 $ 0.3 Financing cash outflows from finance leases $ 1.4 $ 1.4 $ 2.2 $ 2.6 Weighted average remaining lease term 1.5 years 1.5 years Weighted average discount rate 3.5 % 4.0 %
Schedule of future minimum leases payments for operating leases	Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.0 2023 1.4 2024 1.2 2025 1.2 2026 1.2 Thereafter 1.2 Total future minimum lease payments 8.2 Less: amount representing interest (1.7) Present value of future minimum lease payments 6.5 Less: current portion of operating lease obligations (1.5) Long-term portion of finance lease obligations $ 5.0
Schedule of future minimum leases payments for finances leases	Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.5 2023 1.1 2024 0.4 2025 0.1 Total future minimum lease payments 4.1 Less: amount representing interest (0.2) Present value of future minimum lease payments 3.9 Less: current portion of finance lease obligations (2.4) Long-term portion of finance lease obligations $ 1.5 As of June 30, 2021, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.6 2023 1.4 2024 0.7 2025 0.7 2026 0.7 Thereafter 9.9 Total future minimum lease payments $ 16.0

Other Financing Liabilities (Ta

Other Financing Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of future minimum leases payments for finances leases	Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.5 2023 1.1 2024 0.4 2025 0.1 Total future minimum lease payments 4.1 Less: amount representing interest (0.2) Present value of future minimum lease payments 3.9 Less: current portion of finance lease obligations (2.4) Long-term portion of finance lease obligations $ 1.5 As of June 30, 2021, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 2.6 2023 1.4 2024 0.7 2025 0.7 2026 0.7 Thereafter 9.9 Total future minimum lease payments $ 16.0

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
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): June 30, 2021 December 31, 2020 Credit Facility $ 9.5 $ 7.2 Encina Master Financing Agreement 12.4 17.3 Installment Purchases 1.0 — Promissory Note — — Total Debt 22.9 24.5 Current portion of long-term debt (10.4) (10.0) Long term-debt, net $ 12.5 $ 14.5
Schedule of future payments	As of June 30, 2021, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending June 30, Total 2022 $ 10.4 2023 12.7 2024 0.3 Total $ 23.4

Loss per Share (Tables)

Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of loss per share	Loss per share is based on the amount of net loss allocated to the shareholders and the weighted average number of shares outstanding during the period for each class of Common Stock. The numerator and denominator used to compute loss per share were as follows (in millions, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Loss (numerator): Basic: Net loss attributable to Ranger Energy Services, Inc. $ (5.6) $ (4.9) $ (10.2) $ (3.4) Net loss attributable to Class A Common Stock $ (5.6) $ (4.9) $ (10.2) $ (3.4) Diluted: Net loss attributable to Ranger Energy Services, Inc. $ (5.6) $ (4.9) $ (10.2) $ (3.4) Net loss attributable to Class A Common Stock $ (5.6) $ (4.9) $ (10.2) $ (3.4) Weighted average shares (denominator): Weighted average number of shares - basic 9,523,127 8,474,077 9,055,077 8,545,925 Weighted average number of shares - diluted 9,523,127 8,474,077 9,055,077 8,545,925 Basic loss per share $ (0.59) $ (0.58) $ (1.13) $ (0.40) Diluted loss per share $ (0.59) $ (0.58) $ (1.13) $ (0.40)

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of segment information	Segment information as of June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020 is as follows (in millions): High Specification Rigs Completion and Other Services Processing Solutions Other Total Three Months Ended June 30, 2021 Revenues $ 29.0 $ 19.8 $ 1.2 $ — $ 50.0 Cost of services 24.0 19.2 0.9 — 44.1 Depreciation and amortization 4.7 2.5 0.7 0.3 8.2 Operating income (loss) 0.3 (1.9) (0.4) (6.5) (8.5) Interest expense, net — — — 0.7 0.7 Net income (loss) 0.3 (1.9) (0.4) (7.1) (9.1) Capital expenditures $ 1.4 $ 0.9 $ — $ — $ 2.3 Six Months Ended June 30, 2021 Revenues $ 50.7 $ 35.3 $ 2.3 $ — $ 88.3 Cost of services 43.0 33.8 1.4 — 78.2 Depreciation and amortization 9.5 4.7 1.3 0.7 16.2 Operating income (loss) (1.8) (3.2) (0.4) (10.4) (15.8) Interest expense, net — — — 1.3 1.3 Net income (loss) (1.8) (3.2) (0.4) (12.0) (17.4) Capital expenditures $ 2.4 $ 1.1 $ — $ — $ 3.5 As of June 30, 2021 Property and equipment, net $ 108.6 $ 32.8 $ 36.3 $ 4.9 $ 182.6 Total assets $ 158.4 $ 47.8 $ 37.1 $ 7.2 $ 250.5 High Specification Rigs Completion and Other Services Processing Solutions Other Total Three Months Ended June 30, 2020 Revenues $ 11.4 $ 17.7 $ 1.6 $ — $ 30.7 Cost of services 10.1 13.3 0.4 — 23.8 Depreciation and amortization 5.2 2.6 1.3 0.4 9.5 Operating income (loss) (3.9) 1.8 (0.1) (5.9) (8.1) Interest expense, net — — — 0.8 0.8 Net income (loss) $ (3.9) $ 1.8 $ (0.1) $ (6.7) $ (8.9) Capital expenditures $ (0.3) $ 0.5 $ 0.2 $ 0.3 $ 0.7 Six Months Ended June 30, 2020 Revenues $ 46.3 $ 61.0 $ 4.4 $ — $ 111.7 Cost of services 40.0 45.0 1.9 — 86.9 Depreciation and amortization 10.5 5.3 1.9 0.7 18.4 Operating income (loss) (4.2) 10.7 0.6 (11.2) (4.1) Interest expense, net — — — 1.9 1.9 Net income (loss) (4.2) 10.7 0.6 (13.2) (6.1) Capital expenditures $ 4.3 $ 1.7 $ 0.4 $ 0.3 $ 6.7 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

Organization and Business Ope_2

Organization and Business Operations - Business (Details)	6 Months Ended
	Jun. 30, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Business Combinations - Narrati

Business Combinations - Narrative (Details) - Patriot $ in Millions	May 14, 2021USD ($)
Business Acquisition [Line Items]
Business combination aggregate consideration	$ 11
Business combination common stock and cash paid	3.3
Class A Common Stock
Business Acquisition [Line Items]
Business combination consideration transferred equity interests issued and issuable	$ 1.3

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment, Net
Property and equipment	$ 309.3		$ 309.3		$ 300.6
Less: accumulated depreciation	(128.4)		(128.4)		(113)
Construction in progress	1.7		1.7		1.8
Property and equipment, net	182.6		182.6		189.4
Depreciation	$ 8	$ 9.3	15.8	$ 18
High specification rigs
Property, Plant and Equipment, Net
Estimated Useful Life (years)	20 years
Property and equipment	$ 127		127		127.2
High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	41.8		41.8		39.7
Completion and other services machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	59.3		59.3		56.5
Processing solutions machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	46.7		46.7		45.9
Vehicles
Property, Plant and Equipment, Net
Property and equipment	23.5		23.5		20.4
Other property and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 11		$ 11		$ 10.9
Minimum | High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	5 years
Minimum | Completion and other services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	5 years
Minimum | Processing solutions machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	3 years
Minimum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life (years)	3 years
Minimum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	5 years
Maximum | High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	10 years
Maximum | Completion and other services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	10 years
Maximum | Processing solutions machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	30 years
Maximum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life (years)	15 years
Maximum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	25 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Goodwill [Line Items]
Amortization expense	$ 0.2	$ 0.4
Patriot
Goodwill [Line Items]
Goodwill acquired	$ 1.8	$ 1.8

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangibles (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Intangible assets
Less: accumulated amortization	$ (3.3)	$ (2.9)
Intangible assets, net	8.1	8.5
Customer relationships
Intangible assets
Customer relationships	$ 11.4	$ 11.4
Minimum | Customer relationships
Intangible assets
Estimated Useful Life (years)	10 years
Maximum | Customer relationships
Intangible assets
Estimated Useful Life (years)	18 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Amortization (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 0.7
2023	0.7
2024	0.7
2025	0.7
2026	0.7
Thereafter	4.6
Intangible assets, net	$ 8.1	$ 8.5

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Accrued Liabilities, Current [Abstract]
Accrued payables	$ 3.9	$ 2.7
Accrued compensation	4.8	4.5
Accrued taxes	1	1
Accrued insurance	0.2	1.1
Accrued expenses	$ 9.9	$ 9.3

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 30, 2021
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

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Operating and Finance Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Short-term lease costs	$ 0.5	$ 0.6	$ 0.8	$ 1.4
Operating lease cost	0.5	0.7	0.8	1.4
Operating cash outflows from operating leases	$ 0.4	$ 0.7	$ 0.7	$ 1.4
Weighted average remaining lease term	5 years 1 month 6 days	6 years	5 years 1 month 6 days	6 years
Weighted average discount rate	8.60%	9.30%	8.60%	9.30%
Amortization of finance leases	$ 0.8	$ 1.4	$ 1.6	$ 2.8
Interest on lease liabilities	0.1	0.1	0.2	0.3
Financing cash outflows from finance leases	$ 1.4	$ 1.4	$ 2.2	$ 2.6
Weighted average remaining lease term	1 year 6 months	1 year 6 months	1 year 6 months	1 year 6 months
Weighted average discount rate	3.50%	4.00%	3.50%	4.00%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2022	$ 2
2023	1.4
2024	1.2
2025	1.2
2026	1.2
Thereafter	1.2
Total future minimum lease payments	8.2
Less: amount representing interest	(1.7)
Present value of future minimum lease payments	6.5
Less: current portion of operating lease obligations	(1.5)
Long-term portion of finance lease obligations	5	$ 5.2
Finance Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2022	2.5
2023	1.1
2024	0.4
Total future minimum lease payments	4.1
Less: amount representing interest	(0.2)
Present value of future minimum lease payments	3.9
Less: current portion of finance lease obligations	(2.4)
Long-term portion of finance lease obligations	$ 1.5

Other Financing Liabilities (De

Other Financing Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Proceeds from financing of sale-leasebacks	$ (15.6)	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lease term, finance leases	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term, finance leases	5 years
Building
Lessee, Lease, Description [Line Items]
Lease term, finance leases	15 years
Annual rent escalation	2.00%
Other Fixed Assets
Lessee, Lease, Description [Line Items]
Proceeds from financing of sale-leasebacks	$ 3.5
Other Fixed Assets | Minimum
Lessee, Lease, Description [Line Items]
Payment terms	18 months
Other Fixed Assets | Maximum
Lessee, Lease, Description [Line Items]
Payment terms	60 months
Parcel Of Land And Building
Lessee, Lease, Description [Line Items]
Proceeds from financing of sale-leasebacks	$ 12.1

Other Financing Liabilities - A

Other Financing Liabilities - Aggregate Future Principal Payments (Details) $ in Millions	Jun. 30, 2021USD ($)
Lessee, Lease, Description [Line Items]
2022	$ 2.5
2023	1.1
2024	0.4
2025	0.1
Total future minimum lease payments	4.1
Building
Lessee, Lease, Description [Line Items]
2022	2.6
2023	1.4
2024	0.7
2025	0.7
2026	0.7
Thereafter	9.9
Total future minimum lease payments	$ 16

Debt - Summary of Debt Outstand

Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total Debt	$ 22.9	$ 24.5
Current portion of long-term debt	(10.4)	(10)
Long term-debt, net	12.5	14.5
Financing amount (up to)	23.4
Credit Facility
Debt Instrument [Line Items]
Total Debt	9.5	7.2
Encina Master Financing Agreement
Debt Instrument [Line Items]
Total Debt	12.4	17.3
Installment Purchases
Debt Instrument [Line Items]
Total Debt	1	0
Promissory Note
Debt Instrument [Line Items]
Total Debt	$ 0	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details)	Jul. 01, 2021	Jun. 22, 2018USD ($)	Aug. 16, 2017USD ($)	Jun. 30, 2021USD ($)tranche	Jun. 30, 2020USD ($)	Dec. 31, 2018USD ($)tranche	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Remaining principal balance				$ 22,900,000				$ 24,500,000
Financing amount (up to)				23,400,000
Gain on debt retirement				0	$ 2,100,000
Credit facility
Debt Instrument [Line Items]
Maximum borrowings				22,500,000
Remaining borrowing				$ 12,800,000
ESCO Notes Payable
Debt Instrument [Line Items]
Exercise of right to stop payments on remaining principal balance, amount							$ 5,800,000
Payment for retirement of debt					3,800,000
Gain on debt retirement					$ 2,100,000
Senior Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings			$ 50,000,000
Weighted average interest rate				2.60%
Remaining principal balance				$ 9,700,000
Unamortized debt issuance costs			$ 700,000	$ 200,000
Senior Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)				2.10%
Senior Revolving Credit Facility | LIBOR | Subsequent event
Debt Instrument [Line Items]
Interest rate margin (as a percent)	1.75%
Senior Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			1.50%
Senior Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			2.00%
Senior Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)				4.30%
Senior Revolving Credit Facility | Base Rate | Subsequent event
Debt Instrument [Line Items]
Interest rate margin (as a percent)	0.75%
Senior Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			0.50%
Senior Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			1.00%
Financing Agreement
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 900,000		$ 300,000
Financing amount (up to)		$ 22,000,000		$ 12,700,000
Borrowings, net of expenses						$ 17,800,000
Number of tranches | tranche				3		2
Debt term				48 months
Required leverage ratio		250.00%
Financing Agreement | Minimum
Debt Instrument [Line Items]
Maximum borrowings		$ 35,000,000
Financing Agreement | Maximum
Debt Instrument [Line Items]
Maximum borrowings		$ 40,000,000
Financing Agreement | LIBOR
Debt Instrument [Line Items]
Interest rate margin (as a percent)				1.50%
Interest rate (as a percent)		8.00%
Installment Purchases
Debt Instrument [Line Items]
Debt term				36 months
Seller's Notes
Debt Instrument [Line Items]
Face amount of debt			$ 7,000,000

Debt - Schedule of Future Payme

Debt - Schedule of Future Payments (Details) $ in Millions	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 10.4
2023	12.7
2024	0.3
Total	$ 23.4

Equity (Details)

Equity (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)shares	Jun. 30, 2021USD ($)installment$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2021USD ($)installment$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of class A common stock					$ 3,100,000
2019 Share Repurchase Plan
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) | shares	580,000
Stock repurchase program, authorized amount	$ 5,000,000
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 (in shares) | shares				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 (in shares) | shares					93,063
Repurchase of class A common stock					$ 700,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equal annual installments | installment		3		3
Restricted shares issued (in shares) | shares		500,073	465,304	500,073	465,304
Value of shares granted		$ 3,000,000	$ 2,000,000	$ 3,000,000	$ 2,000,000
Unrecognized expense		$ 4,700,000		$ 4,700,000
Weighted average period		1 year 10 months 24 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period				3 years
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares issued (in shares) | shares		145,270	121,262	145,270	121,262
Unrecognized expense		$ 1,800,000		$ 1,800,000
Weighted average period				1 year 10 months 24 days
Market Based Restricted Stock Units, Relative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of target shares granted to employees (in dollars per share) | $ / shares		$ 9.24	$ 6.33	$ 9.24	$ 6.33
Market Based Restricted Stock Units, Absolute
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of target shares granted to employees (in dollars per share) | $ / shares		$ 7.45	$ 3.62	$ 7.45	$ 3.62

Risk Concentrations (Details)

Risk Concentrations (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue | EOG Resources
Customer Concentrations
Concentration risk (as a percent)	20.00%	23.00%	22.00%	19.00%
Revenue | Conoco Phillips
Customer Concentrations
Concentration risk (as a percent)	14.00%		12.00%
Revenue | Concho Resources, Inc.
Customer Concentrations
Concentration risk (as a percent)		18.00%		19.00%
Accounts Receivable | EOG Resources
Customer Concentrations
Concentration risk (as a percent)			28.00%	18.00%
Accounts Receivable | Conoco Phillips
Customer Concentrations
Concentration risk (as a percent)			28.00%
Accounts Receivable | Concho Resources, Inc.
Customer Concentrations
Concentration risk (as a percent)				18.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Contingency [Line Items]
Effective federal income tax rate (as a percent)	(1.70%)	0.00%
Texas Margin Tax, maximum statutory effective rate	0.75%
COVID-19
Income Tax Contingency [Line Items]
Deferred payroll tax payments	$ 1.9

Loss per Share (Details)

Loss per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic:
Net loss attributable to Ranger Energy Services, Inc.	$ (5.6)	$ (4.9)	$ (10.2)	$ (3.4)
Net loss attributable to Class A Common Stock	(5.6)	(4.9)	(10.2)	(3.4)
Diluted:
Net loss attributable to Ranger Energy Services, Inc.	(5.6)	(4.9)	(10.2)	(3.4)
Net loss attributable to Class A Common Stock	$ (5.6)	$ (4.9)	$ (10.2)	$ (3.4)
Weighted average shares (denominator):
Weighted average number of shares - basic (in shares)	9,523,127	8,474,077	9,055,077	8,545,925
Weighted average number of shares - diluted (in shares)	9,523,127	8,474,077	9,055,077	8,545,925
Basic loss per share (in dollars per share)	$ (0.59)	$ (0.58)	$ (1.13)	$ (0.40)
Diluted loss per share (in dollars per share)	$ (0.59)	$ (0.58)	$ (1.13)	$ (0.40)
Equity-Based awards
Weighted average shares (denominator):
Antidilutive securities (in shares)	1,300,000	900,000	1,300,000	900,000
Convertible Common Stock
Weighted average shares (denominator):
Antidilutive securities (in shares)	6,900,000	6,900,000	6,900,000	6,900,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2018
Loss Contingencies [Line Items]
Payment to ESCO for debt repayment and repurchase of shares	$ 6.2
Repurchase of class A common stock		$ 3.1
Class A Common Stock
Loss Contingencies [Line Items]
Repurchase of class A common stock	$ 2.4
ESCO Notes Payable
Loss Contingencies [Line Items]
Exercise of right to stop payments on remaining principal balance, amount			$ 5.8
Payment for retirement of debt		$ 3.8

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting
Number of reportable segments | segment			3
Revenues	$ 50	$ 30.7	$ 88.3	$ 111.7
Cost of services	44.1	23.8	78.2	86.9
Depreciation and amortization	8.2	9.5	16.2	18.4
Operating income (loss)	(8.5)	(8.1)	(15.8)	(4.1)
Interest expense, net	0.7	0.8	1.3	1.9
Net income (loss)	(9.1)	(8.9)	(17.4)	(6.1)
Capital expenditures	2.3	0.7	3.5	6.7
Property and equipment, net	182.6		182.6		$ 189.4
Total assets	250.5		250.5		240.6
Operating Segments | High specification rigs
Segment Reporting
Revenues	29	11.4	50.7	46.3
Cost of services	24	10.1	43	40
Depreciation and amortization	4.7	5.2	9.5	10.5
Operating income (loss)	0.3	(3.9)	(1.8)	(4.2)
Interest expense, net	0	0	0	0
Net income (loss)	0.3	(3.9)	(1.8)	(4.2)
Capital expenditures	1.4	(0.3)	2.4	4.3
Property and equipment, net	108.6		108.6		115.8
Total assets	158.4		158.4		154.3
Operating Segments | Completion and other services
Segment Reporting
Revenues	19.8	17.7	35.3	61
Cost of services	19.2	13.3	33.8	45
Depreciation and amortization	2.5	2.6	4.7	5.3
Operating income (loss)	(1.9)	1.8	(3.2)	10.7
Interest expense, net	0	0	0	0
Net income (loss)	(1.9)	1.8	(3.2)	10.7
Capital expenditures	0.9	0.5	1.1	1.7
Property and equipment, net	32.8		32.8		30.8
Total assets	47.8		47.8		41.1
Operating Segments | Processing Solutions
Segment Reporting
Revenues	1.2	1.6	2.3	4.4
Cost of services	0.9	0.4	1.4	1.9
Depreciation and amortization	0.7	1.3	1.3	1.9
Operating income (loss)	(0.4)	(0.1)	(0.4)	0.6
Interest expense, net	0	0	0	0
Net income (loss)	(0.4)	(0.1)	(0.4)	0.6
Capital expenditures	0	0.2	0	0.4
Property and equipment, net	36.3		36.3		37.7
Total assets	37.1		37.1		38.4
Segment Reconciling Items
Segment Reporting
Revenues	0	0	0	0
Cost of services	0	0	0	0
Depreciation and amortization	0.3	0.4	0.7	0.7
Operating income (loss)	(6.5)	(5.9)	(10.4)	(11.2)
Interest expense, net	0.7	0.8	1.3	1.9
Net income (loss)	(7.1)	(6.7)	(12)	(13.2)
Capital expenditures	0	$ 0.3	0	$ 0.3
Property and equipment, net	4.9		4.9		5.1
Total assets	$ 7.2		$ 7.2		$ 6.8

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent event - PerfX Wireline Services, LLC $ in Millions	Jul. 08, 2021USD ($)shares
Subsequent Event [Line Items]
Financing receivable | $	$ 11.4
Interest rate	8.50%
Class A Common Stock
Subsequent Event [Line Items]
Number of shares issued (in shares) | shares	1,000,000