Ranger Energy Services (RNGR) 10-Q 31 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 26, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		24,873,926
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 5.2	$ 0.6
Accounts receivable, net	95	80.8
Contract assets	38.7	13
Inventory	5.4	2.5
Prepaid expenses	12.6	8.3
Assets held for sale	5.1	0
Total current assets	162	105.2
Property and equipment, net	226.2	270.6
Intangible assets, net	7.2	7.8
Operating leases, right-of-use assets	11.6	6.8
Other assets	1.2	2.7
Total assets	408.2	393.1
Liabilities and Stockholders' Equity
Accounts payable	36.7	20.7
Accrued expenses	34	30.3
Other financing liability, current portion	0.8	2.2
Long-term debt, current portion	30.4	44.1
Other current liabilities	6.1	5.4
Total current liabilities	108	102.7
Operating leases, right-of-use obligations	10.1	5.8
Other financing liability	11.8	12.5
Long-term debt, net	12.9	18.4
Other long-term liabilities	7.7	5
Total liabilities	150.5	144.4
Commitments and contingencies (Note 15)
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued or outstanding as of September 30, 2022; 6,000,001 shares issued and outstanding as of December 31, 2021	0	0.1
Less: Class A Common Stock held in treasury at cost; 551,828 treasury shares as of September 30, 2022 and December 31, 2021	(3.8)	(3.8)
Accumulated deficit	(0.5)	(8)
Additional paid-in capital	261.7	260.2
Total stockholders' equity	257.7	248.7
Total liabilities and stockholders' equity	408.2	393.1
Class A Common Stock
Stockholders' equity
Common stock A and B	0.3	0.2
Class B Common Stock
Stockholders' equity
Common stock A and B	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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	6,000,001
Preferred stock, shares outstanding (in shares)	0	6,000,001
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)	25,425,754	18,981,172
Common stock, shares outstanding (in shares)	24,873,926	18,429,344
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)	0	0
Common stock, shares outstanding (in shares)	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Total revenues	$ 177	$ 81.7	$ 454.2	$ 170
Cost of services (exclusive of depreciation and amortization):
Cost of services	138.1	74	376.1	152.2
General and administrative	11	7.1	32.4	16.7
Depreciation and amortization	10.8	8.7	33.8	24.9
Impairment of fixed assets	0.2	0	1.3	0
Gain (loss) on sale of assets	(1.1)	0	0	0.1
Total operating expenses	159	89.8	443.6	193.9
Operating income (loss)	18	(8.1)	10.6	(23.9)
Other (income) expenses
Interest expense, net	1.8	1.2	5.7	2.5
Gain on bargain purchase, net of tax	(0.8)	0	(3.6)	0
Total other (income) expenses	1	1.2	2.1	2.5
Income (loss) before income tax (benefit) expense	17	(9.3)	8.5	(26.4)
Tax (benefit) expense	3.4	(0.2)	1	0.1
Net income (loss)	13.6	(9.1)	7.5	(26.5)
Less: Net loss attributable to noncontrolling interests	0	(3.5)	0	(10.7)
Net income (loss) attributable to Ranger Energy Services, Inc.	$ 13.6	$ (5.6)	$ 7.5	$ (15.8)
Income (loss) per common share
Basic (in dollars per share)	$ 0.55	$ (0.51)	$ 0.34	$ (1.63)
Diluted (in dollars per share)	$ 0.54	$ (0.51)	$ 0.33	$ (1.63)
Weighted average common shares outstanding
Basic (in shares)	24,845,517	11,011,864	22,323,308	9,714,508
Diluted (in shares)	25,184,067	11,011,864	22,637,457	9,714,508
High specification rigs
Revenues
Total revenues	$ 79.7	$ 29.9	$ 220.6	$ 80.6
Cost of services (exclusive of depreciation and amortization):
Cost of services	62.7	25.1	175.3	68.1
Wireline services
Revenues
Total revenues	60.6	45.4	148.7	73.1
Cost of services (exclusive of depreciation and amortization):
Cost of services	49.2	44	134.8	70.4
Processing solutions and ancillary services
Revenues
Total revenues	36.7	6.4	84.9	16.3
Cost of services (exclusive of depreciation and amortization):
Cost of services	$ 26.2	$ 4.9	$ 66	$ 13.7

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Class A Common Stock	Class B Common Stock	Total controlling interest shareholders’ equity	Preferred Stock Series A Preferred Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Treasury Stock	Accumulated deficit	Additional paid-in capital	Noncontrolling interest
Preferred stock, shares outstanding (in shares) at Dec. 31, 2020					0
Common stock, shares outstanding (in shares) at Dec. 31, 2020						9,093,743	6,866,154
Treasury stock, shares (in shares) at Dec. 31, 2020								(551,828)
Balance, beginning of period at Dec. 31, 2020	$ 184.8			$ 101.9	$ 0	$ 0.1	$ 0.1	$ (3.8)	$ (18.4)	$ 123.9	$ 82.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)						607,180
Shares withheld for taxes on equity transactions (in shares)						(139,927)
Share issuance for acquisitions (in shares)						2,156,000
Net income (loss) attributable to controlling interest	(26.5)			(15.8)					(15.8)		(10.7)
Equity based compensation	2.1			2.1						2.1
Shares withheld for taxes on equity transactions				(0.9)						(0.9)
Shares withheld for taxes on equity transactions	(0.9)
Share issuance for acquisitions	16.4			16.4						16.4
Impact of transactions affecting noncontrolling interest				10.7						10.7	(10.7)
Preferred stock, shares outstanding (in shares) at Sep. 30, 2021					0
Common stock, shares outstanding (in shares) at Sep. 30, 2021						11,716,996	6,866,154
Treasury stock, shares (in shares) at Sep. 30, 2021								(551,828)
Balance, end of period at Sep. 30, 2021	175.9			114.4	$ 0	$ 0.1	$ 0.1	$ (3.8)	(34.2)	152.2	61.5
Preferred stock, shares outstanding (in shares) at Jun. 30, 2021					0
Common stock, shares outstanding (in shares) at Jun. 30, 2021						10,682,388	6,866,154
Treasury stock, shares (in shares) at Jun. 30, 2021								(551,828)
Balance, beginning of period at Jun. 30, 2021	176.2			107.3	$ 0	$ 0.1	$ 0.1	$ (3.8)	(28.6)	139.5	68.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)						150,432
Shares withheld for taxes on equity transactions (in shares)						(15,824)
Share issuance for acquisitions (in shares)						900,000
Net income (loss) attributable to controlling interest	(9.1)			(5.6)					(5.6)		(3.5)
Equity based compensation	0.3			0.3						0.3
Shares withheld for taxes on equity transactions				(0.2)						(0.2)
Shares withheld for taxes on equity transactions	(0.2)
Share issuance for acquisitions	8.7			8.7						8.7
Impact of transactions affecting noncontrolling interest				3.9						3.9	(3.9)
Preferred stock, shares outstanding (in shares) at Sep. 30, 2021					0
Common stock, shares outstanding (in shares) at Sep. 30, 2021						11,716,996	6,866,154
Treasury stock, shares (in shares) at Sep. 30, 2021								(551,828)
Balance, end of period at Sep. 30, 2021	$ 175.9			114.4	$ 0	$ 0.1	$ 0.1	$ (3.8)	(34.2)	152.2	61.5
Preferred stock, shares outstanding (in shares) at Dec. 31, 2021	6,000,001				6,000,001
Common stock, shares outstanding (in shares) at Dec. 31, 2021		18,429,344	0			18,981,172	0
Treasury stock, shares (in shares) at Dec. 31, 2021								(551,828)
Balance, beginning of period at Dec. 31, 2021	$ 248.7			248.7	$ 0.1	$ 0.2	$ 0	$ (3.8)	(8)	260.2	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares from Series A Preferred Stock conversion (In shares)					6,000,001	6,000,001
Issuance of shares from Series A Preferred Stock conversion					$ 0.1	$ 0.1
Issuance of shares under share-based compensation plans (in shares)						457,030
Shares withheld for taxes on equity transactions (in shares)						(112,449)
Share issuance for acquisitions (in shares)						100,000
Net income (loss) attributable to controlling interest	7.5			7.5					7.5
Equity based compensation	2.6			2.6						2.6
Shares withheld for taxes on equity transactions				(1.1)						(1.1)
Shares withheld for taxes on equity transactions	$ (1.1)
Preferred stock, shares outstanding (in shares) at Sep. 30, 2022	0				0
Common stock, shares outstanding (in shares) at Sep. 30, 2022		24,873,926	0			25,425,754	0
Treasury stock, shares (in shares) at Sep. 30, 2022								(551,828)
Balance, end of period at Sep. 30, 2022	$ 257.7			257.7	$ 0	$ 0.3	$ 0	$ (3.8)	(0.5)	261.7	0
Preferred stock, shares outstanding (in shares) at Jun. 30, 2022					0
Common stock, shares outstanding (in shares) at Jun. 30, 2022						25,268,856	0
Treasury stock, shares (in shares) at Jun. 30, 2022								(551,828)
Balance, beginning of period at Jun. 30, 2022	243.1			243.1	$ 0	$ 0.3	$ 0	$ (3.8)	(14.1)	260.7	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)						57,263
Shares withheld for taxes on equity transactions (in shares)						(365)
Share issuance for acquisitions (in shares)						100,000
Net income (loss) attributable to controlling interest	13.6			13.6					13.6
Equity based compensation	0.9			0.9						0.9
Shares withheld for taxes on equity transactions				0.1						0.1
Shares withheld for taxes on equity transactions	$ 0.1
Preferred stock, shares outstanding (in shares) at Sep. 30, 2022	0				0
Common stock, shares outstanding (in shares) at Sep. 30, 2022		24,873,926	0			25,425,754	0
Treasury stock, shares (in shares) at Sep. 30, 2022								(551,828)
Balance, end of period at Sep. 30, 2022	$ 257.7			$ 257.7	$ 0	$ 0.3	$ 0	$ (3.8)	$ (0.5)	$ 261.7	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net income (loss)	$ 7.5	$ (26.5)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	33.8	24.9
Equity based compensation	2.8	2.1
Impairment of fixed assets	1.3	0
Gain on bargain purchase, net of tax	(3.6)	0
Other expense, net	0.9	1.4
Changes in operating assets and liabilities, net effects of business acquisitions
Accounts receivable	(14.3)	(24.5)
Contract assets	(25.7)	(6.7)
Inventory	(2.9)	2.5
Prepaid expenses and other current assets	(4.2)	(6.7)
Other assets	(3.6)	(0.6)
Accounts payable	16	(7.8)
Accrued expenses	3.7	23.8
Other current liabilities	0.8	41.3
Other long-term liabilities	6	0.2
Net cash provided by operating activities	18.5	23.4
Cash Flows from Investing Activities
Purchase of property and equipment	(8.7)	(3.9)
Proceeds from disposal of property and equipment	20.4	0.4
Purchase of businesses, net of cash received	0.8	(2.4)
Net cash provided by (used in) investing activities	12.5	(5.9)
Cash Flows from Financing Activities
Principal payments on financing lease obligations	(3.4)	(2.4)
Principal payments on Secured Promissory Note	(3.3)	(0.6)
Principal payments on other financing liabilities	(2.2)	(1.3)
Shares withheld on equity transactions	(1.1)	(1)
Payments on Installment Purchases	(0.3)	(0.4)
Principal payments on Encina Master Financing Agreement	0	(17.7)
Deferred financing costs on Eclipse	0	(2.4)
Proceeds from financing of sale-leasebacks	0	15.6
Net cash provided by (used in) financing activities	(26.4)	24.5
Increase in cash and cash equivalents	4.6	42
Cash and cash equivalents, Beginning of Period	0.6	2.8
Cash and cash equivalents, End of Period	5.2	44.8
Supplemental Cash Flow Information
Interest paid	0.8	1.3
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures	(0.7)	(0.1)
Additions to fixed assets through installment purchases and financing leases	(3.5)	(2.5)
Issuance of Class A Common Stock for acquisitions	0	(16.4)
Secured Promissory Note	0	(11.4)
Senior Revolving Credit Facility
Cash Flows from Financing Activities
Borrowings under Credit Facility	431	74.7
Principal payments on Credit Facility	(433.2)	(52.5)
Eclipse M&E Term Loan, net
Cash Flows from Financing Activities
Borrowings under Credit Facility	0	12.5
Principal payments on Credit Facility	(1.5)	0
Eclipse Term Loan B
Cash Flows from Financing Activities
Principal payments on Credit Facility	$ (12.4)	$ 0

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2022
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 United States (“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. Our service offerings consist of well completion support, workover, well maintenance, wireline, fluid management, other complementary services, as well as installation, commissioning and operating of modular equipment, which are conducted in three reportable segments, as follows: • High Specification Rigs . Provides high-spec well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well. • Wireline Services. Provides services necessary to bring and maintain a well on production and consists of our wireline completion, wireline production, and pump down lines of business. • Processing Solutions and Ancillary Services. Provides other services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services include equipment rentals, snubbing and coil tubing, plug and abandonment, logistics hauling, and processing solutions. The Company’s operations take place in most of the active oil and natural gas basins in the U.S., 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”), Torrent Energy Services, LLC (“Torrent Services”), and Ranger Energy Acquisition, LLC (“Ranger Acquisitions”), 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from audited financial statements and the 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 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, 2021 and 2020, included in the Annual Report filed on Form 10-K for the year ended December 31, 2021 (the “Annual Report”). Interim results for the periods presented may not be indicative of results that will be realized for future periods. Investments in which the Company exercises control are consolidated and the noncontrolling interests of such investments, which are not attributable directly or indirectly to the Company are presented as a separate component of net income or loss and equity in the accompanying Condensed Consolidated Financial Statements. The Company had ownership interests in Ranger LLC, which was consolidated within the Company’s consolidated financial statements, but was not wholly owned by the Company through October 1, 2021. Pursuant to the TRA Termination Agreement (as defined herein) all noncontrolling interests in Ranger LLC were eliminated. Changes in the Company’s ownership interest in Ranger LLC, while it retains its controlling interest, are accounted for as equity transactions. We have made certain reclassifications to our prior period operating revenue and cost of sales amounts due to the change in reportable segments whereby our Wireline and Ancillary Services were bifurcated from our historical Completion and Other Services segment as a result of our fourth quarter 2021 operating segment changes. The Ancillary Services are now combined with the historical Processing Solutions segment. Other immaterial reclassifications have been made for comparability purposes. None of these reclassifications have an impact on our consolidated operating results, cash flows or financial position. Significant Accounting Policies The Company’s significant accounting policies are disclosed in Note 2 — Summary of Significant Accounting Policies of the Annual Report. 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; • Assets acquired and liabilities assumed in business combinations; • 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” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). In accordance with the JOBS Act, the Company will remain an EGC 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 $1.24 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. The Company will lose its EGC status on December 31, 2022, as this will represent the last day of the fiscal year following the fifth anniversary of our first Form S-1, which was filed in August 2017. An EGC 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 has and will continue to 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” (“SRC”) as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as Amended. SRC 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 SRC 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. SRC 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. After consideration of the guidance changes, the Company does not believe the changes in the accounting standard will result in a material impact on its Condensed Consolidated Financial Statements. The Company expects to adopt the standard on a prospective basis. 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. On September 23, 2022, the Company entered into the Fourth Amendment to the Loan and Security Agreement (the Eclipse Loan and Security Agreement, as amended through and including the Fourth Amendment, the “Amended Loan Agreement”) with EBC and Eclipse Business Capital SPV, LLC where the Secured Overnight Financing Rate (“SOFR”) replaced LIBOR as the reference rate for interest on borrowings, effective October 1, 2022. 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	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Note 3 — Business Combinations The Company completed three acquisitions during the year ended December 31, 2021 where all purchases were accounted for using the acquisition method of accounting under the FASB Accounting Standards Codification 805, Business Combinations (“ASC 805”). The results of operations for each of the acquisitions are included in the accompanying Condensed Consolidated Statements of Operations from the respective date of each acquisition. Under the acquisition method of accounting, the assets and liabilities have been recorded at their respective estimated fair values as of the date of completion of the acquisition and reported into Ranger’s Condensed Consolidated Balance Sheets. Patriot Well Solutions (“Patriot”) Acquisition On May 14, 2021, the Company acquired all of the outstanding stock of Patriot, a provider of wireline evaluation and intervention services that operate in the Permian, Denver-Julesburg and Powder River Basins and Bakken Shale. As consideration for the Patriot Acquisition 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 Wireline Services reporting segment. The Company finalized the purchase price allocation in the fourth quarter of 2021. PerfX Wireline Services (“PerfX”) Acquisition On July 8, 2021, the Company acquired the assets of PerfX, a provider of wireline services that operate in Williston, North Dakota and Midland, Texas. Following the acquisition of PerfX the Company significantly expanded its scale and scope of the existing wireline business. The financial results of PerfX are included within the Wireline Services reporting segment. The aggregate consideration for the PerfX Acquisition was $20.1 million, which included 1,000,000 shares of Class A Common Stock and a Secured Promissory Note of $11.4 million. The Class A Common Stock issuance includes 100,000 shares that were issued by the Company on July 8, 2022, the 12-month anniversary of the acquisition date. The Secured Promissory Note bears an interest rate of 8.5% per annum and holds certain assets as collateral through the scheduled maturity date of January 31, 2024. Refer to “Note 10 — Debt” for further details related to the Secured Promissory Note. The PerfX purchase price includes a warrant to acquire a 30% ownership in the XConnect Business (“XConnect”), which expires on July 8, 2031. XConnect is the manufacturer of a perforating gun system developed by the PerfX sellers alongside the PerfX wireline service business. The warrant requires the Company to maintain a specific minimum level of purchases of XConnect’s manufactured products. Should the Company fail to maintain the specified minimum level of purchases, a forfeiture event would occur. The Company may elect to cure the forfeiture event through a cash payment to XConnect. If the Company elects to not cure the forfeiture event, the ownership percentage would reduce to 15%. Upon the occurrence of a second uncured forfeiture event, the warrant is deemed to be cancelled. The value of the warrant by the Company is negligible as of September 30, 2022. The Company finalized the purchase price allocation in the fourth quarter of 2021. The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions): Cash $ 1.0 Accounts receivable 4.6 Inventory 2.4 Prepaid and other current assets 0.1 Operating leases, right-of-use asset 1.1 Property and equipment 18.4 Total assets acquired 27.6 Accounts payable 5.4 Accrued expenses 1.0 Operating lease right-of-use obligation 1.1 Total liabilities assumed 7.5 Allocated purchase price $ 20.1 The following unaudited pro-forma financial results considers that the PerfX Acquisition occurred as of January 1, 2021 (in millions): Nine Months Ended September 30, 2021 Revenue $ 224.9 Operating loss $ (27.2) Net loss $ (30.1) Basic and diluted loss per share $ (1.90) The supplemental pro forma information presented above are being provided for information purposes only and may not necessarily reflect what the results of operations would have been had the Company owned and operation the PerfX Acquisition assets since January 1, 2021. There were no material non-recurring pro-forma adjustments present. The financial results of PerfX are included in the Wireline Services reporting segment. The Company reported revenue and operating income during the three and nine months ended September 30, 2021 that included approximately $27.9 million and $0.5 million, respectively. During the nine months ended September 30, 2021 the transaction costs related to the PerfX Acquisition approximated $0.7 million. Basic Energy Services, Inc. (“Basic”) Acquisition On September 15, 2021, Ranger Acquisitions entered into an Asset Purchase Agreement for certain assets of Basic and certain of its subsidiaries (the “Basic Sellers”), which closed on October 1, 2021. Ranger Acquisitions purchased assets associated with Basic’s well servicing, fishing and rental, coiled tubing operations, and rolling stock assets required to support the operating assets being purchased and real property locations inclusive of, but not limited to, real property owned in New Mexico, North Dakota, Oklahoma, and Texas. All assets associated with the Basic Acquisition, were recorded at their fair value. The Company used the market approach as of the closing date, October 1, 2021, to apply fair values to the assets purchased based on the selling price of similar assets. As a result of comparing the purchase price to the fair value of the assets acquired, the Company realized a $40.0 million bargain purchase gain, net of tax. The bargain purchase gain is primarily attributable Basic’s distressed financial position and lack of financing options available to avoid liquidation. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed as of the closing date, the estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one-year from the closing date, the Company recorded adjustments to the assets acquired and liabilities assumed, with the corresponding offset to the bargain purchase. Subsequent to the measurement period, any adjustment to assets acquired or liabilities assumed is included in the operating results in the period in which the adjustment is identified. As of the date of this report the Company has finalized the purchase price allocation in the fourth quarter of 2022. During the three and nine months ended September 30, 2022, adjustments were made within the permitted measurement period that resulted in an increase to the bargain purchased recognized of $0.8 million and $3.6 million, respectively, net of tax, due to updated information regarding facts and circumstances which existed as of the date of the business combination. The measurement period adjustments primarily impacted the bargain purchase gain and property and equipment. The Company reported revenue and operating income during the three months ended September 30, 2022 of approximately $60.8 million and $12.1 million, respectively, and $157.3 million and $30.9 million for the nine months ended September 30, 2022 attributable to the assets acquired from Basic. The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions): Property and equipment $ 93.5 Total assets acquired 93.5 Finance lease obligations 3.9 Bargain purchase deferred tax liability 11.7 Total liabilities assumed 15.6 Net assets acquired 77.9 Bargain purchase 40.8 Purchase price $ 37.1 The following unaudited pro-forma financial results considers that the Basic Acquisition occurred as of January 1, 2021 (in millions, except per share amounts): Nine Months Ended September 30, 2021 Revenue $ 300.1 Operating loss $ (24.6) Net income (loss) $ (27.3) Basic earnings (loss) per share $ (1.68) Diluted earnings (loss) per share $ (1.68) The supplemental pro forma information presented above are being provided for information purposes only and may not necessarily reflect what the results of operations would have been had the Company owned and operation the Basic Acquisition assets since January 1, 2021. There were no material non-recurring pro-forma adjustments present. The financial results of Basic are primarily included in the High-Specification Rigs reporting segment.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 December 31, 2021 High specification rigs 20 $ 130.5 $ 145.4 High specification rigs machinery and equipment 5 - 10 61.5 63.1 Wireline services machinery and equipment 5 - 10 54.3 53.1 Processing solutions and ancillary services machinery and equipment 3 - 30 66.9 69.4 Vehicles 3 - 15 45.1 46.3 Other property and equipment 5 - 25 21.0 30.9 Property and equipment 379.3 408.2 Less: accumulated depreciation (157.1) (140.5) Construction in progress 4.0 2.9 Property and equipment, net $ 226.2 $ 270.6 Depreciation expense was $10.5 million and $8.6 million for the three months ended September 30, 2022 and 2021, respectively and $33.2 million and $24.4 million for the nine months ended September 30, 2022 and 2021.

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Note 5 — Assets Held for Sale Assets held for sale includes the net book value of assets the Company plans to sell within the next 12 months and are primarily related to excess assets acquired from the Basic Acquisition. Long-lived assets that meet the held for sale criteria are held for sale and reported at the lower of their carrying value or fair value less estimated costs to sell. The Company intends to sell the excess assets to fund the repayments under the Eclipse Loan and Security Agreement. Refer to “Note 10 — Debt” for further details. As of September 30, 2022, the Company classified land and buildings within our High Specification Rigs and Processing Solutions and Ancillary Services segments, which are being actively marketed, as held for sale. During the three and nine months ended September 30, 2022, the Company recorded an impairment of $0.2 million and $1.3 million, respectively, to assets held for sale as the carrying value exceeded the fair value less estimated costs to sell. Assets held for sale at September 30, 2022 consisted of the following (in millions): September 30, 2022 Land and buildings $ 3.0 Other PP&E 2.1 Assets held for sale $ 5.1

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 6 — Intangible Assets Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life September 30, 2022 December 31, 2021 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (4.2) (3.6) Intangible assets, net $ 7.2 $ 7.8 Amortization expense was $0.3 million and $0.1 million for the three months ended September 30, 2022 and 2021 respectively and $0.6 million and $0.5 million for the nine months ended September 30, 2022 and 2021. Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending September 30, Amount 2023 $ 0.7 2024 0.7 2025 0.7 2026 0.7 2027 0.7 Thereafter 3.7 Total $ 7.2

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Note 7 — Accrued Expenses Accrued expenses include the following (in millions): September 30, 2022 December 31, 2021 Accrued payables $ 11.0 $ 12.5 Accrued compensation 12.2 12.7 Accrued taxes 2.3 2.1 Accrued insurance 8.5 3.0 Accrued expenses $ 34.0 $ 30.3

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Note 8 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from one 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Short-term lease costs $ 4.4 $ 1.1 $ 9.9 $ 1.9 Operating lease costs $ 1.1 $ 0.5 $ 2.2 $ 1.3 Operating cash outflows from operating leases $ 0.7 $ 0.4 $ 1.9 $ 1.1 Weighted average remaining lease term 4.7 years 5.2 years Weighted average discount rate 7.9 % 8.8 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 3.0 2024 3.0 2025 3.0 2026 2.9 2027 2.3 Thereafter 0.3 Total future minimum lease payments 14.5 Less: amount representing interest (2.2) Present value of future minimum lease payments 12.3 Less: current portion of operating lease obligations (2.2) Long-term portion of operating lease obligations $ 10.1 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Amortization of finance leases $ 0.5 $ 0.6 $ 1.5 $ 2.2 Interest on lease liabilities $ 0.2 $ 0.1 $ 0.6 $ 0.3 Financing cash outflows from finance leases $ 1.1 $ 0.2 $ 3.4 $ 2.4 Weighted average remaining lease term 1.4 years 1.5 years Weighted average discount rate 2.6 % 2.8 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 4.0 2024 2.1 2025 0.8 2026 0.1 Total future minimum lease payments 7.0 Less: amount representing interest (0.4) Present value of future minimum lease payments 6.6 Less: current portion of finance lease obligations (3.8) Long-term portion of finance lease obligations $ 2.8 Note 9 — Other Financing Liabilities During the three and nine months ended September 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 three and nine months ended September 30, 2021, the Company entered into an agreement to sell certain other fixed assets and subsequently leased back such assets. The Company received cash of $3.5 million to be paid over 18 to 60 months. These sales 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 September 30, 2022, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 0.8 2024 0.6 2025 0.7 2026 0.7 2027 0.8 Thereafter 9.0 Total future minimum lease payments $ 12.6
Leases	Note 8 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from one 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Short-term lease costs $ 4.4 $ 1.1 $ 9.9 $ 1.9 Operating lease costs $ 1.1 $ 0.5 $ 2.2 $ 1.3 Operating cash outflows from operating leases $ 0.7 $ 0.4 $ 1.9 $ 1.1 Weighted average remaining lease term 4.7 years 5.2 years Weighted average discount rate 7.9 % 8.8 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 3.0 2024 3.0 2025 3.0 2026 2.9 2027 2.3 Thereafter 0.3 Total future minimum lease payments 14.5 Less: amount representing interest (2.2) Present value of future minimum lease payments 12.3 Less: current portion of operating lease obligations (2.2) Long-term portion of operating lease obligations $ 10.1 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Amortization of finance leases $ 0.5 $ 0.6 $ 1.5 $ 2.2 Interest on lease liabilities $ 0.2 $ 0.1 $ 0.6 $ 0.3 Financing cash outflows from finance leases $ 1.1 $ 0.2 $ 3.4 $ 2.4 Weighted average remaining lease term 1.4 years 1.5 years Weighted average discount rate 2.6 % 2.8 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 4.0 2024 2.1 2025 0.8 2026 0.1 Total future minimum lease payments 7.0 Less: amount representing interest (0.4) Present value of future minimum lease payments 6.6 Less: current portion of finance lease obligations (3.8) Long-term portion of finance lease obligations $ 2.8

Other Financing Liabilities

Other Financing Liabilities	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Other Financing Liabilities	Note 8 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from one 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Short-term lease costs $ 4.4 $ 1.1 $ 9.9 $ 1.9 Operating lease costs $ 1.1 $ 0.5 $ 2.2 $ 1.3 Operating cash outflows from operating leases $ 0.7 $ 0.4 $ 1.9 $ 1.1 Weighted average remaining lease term 4.7 years 5.2 years Weighted average discount rate 7.9 % 8.8 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 3.0 2024 3.0 2025 3.0 2026 2.9 2027 2.3 Thereafter 0.3 Total future minimum lease payments 14.5 Less: amount representing interest (2.2) Present value of future minimum lease payments 12.3 Less: current portion of operating lease obligations (2.2) Long-term portion of operating lease obligations $ 10.1 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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Amortization of finance leases $ 0.5 $ 0.6 $ 1.5 $ 2.2 Interest on lease liabilities $ 0.2 $ 0.1 $ 0.6 $ 0.3 Financing cash outflows from finance leases $ 1.1 $ 0.2 $ 3.4 $ 2.4 Weighted average remaining lease term 1.4 years 1.5 years Weighted average discount rate 2.6 % 2.8 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 4.0 2024 2.1 2025 0.8 2026 0.1 Total future minimum lease payments 7.0 Less: amount representing interest (0.4) Present value of future minimum lease payments 6.6 Less: current portion of finance lease obligations (3.8) Long-term portion of finance lease obligations $ 2.8 Note 9 — Other Financing Liabilities During the three and nine months ended September 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 three and nine months ended September 30, 2021, the Company entered into an agreement to sell certain other fixed assets and subsequently leased back such assets. The Company received cash of $3.5 million to be paid over 18 to 60 months. These sales 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 September 30, 2022, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 0.8 2024 0.6 2025 0.7 2026 0.7 2027 0.8 Thereafter 9.0 Total future minimum lease payments $ 12.6

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 10 — Debt The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): September 30, 2022 December 31, 2021 Eclipse Revolving Credit Facility $ 24.9 $ 27.0 Eclipse M&E Term Loan, net 10.8 12.2 Eclipse Term Loan B — 11.9 Secured Promissory Note 7.0 10.4 Installment Purchases 0.6 1.0 Total Debt 43.3 62.5 Current portion of long-term debt (30.4) (44.1) Long term-debt, net $ 12.9 $ 18.4 Eclipse Loan and Security Agreement On September 27, 2021, the Company entered into a Loan and Security Agreement with Eclipse Business Capital LLC (“EBC”) and Eclipse Business Capital SPV, LLC, as administrative agent, providing the Company with a senior secured credit facility in an aggregate principal amount of $77.5 million (the “EBC Credit Facility”), consisting of (i) a revolving credit facility in an aggregate principal amount of up to $50.0 million (the “Revolving Credit Facility”), (ii) a machinery and equipment term loan facility in an aggregate principal amount of up to $12.5 million (the “M&E Term Loan Facility”) and (iii) a term loan B facility in an aggregate principal amount of up to $15.0 million (the “Term Loan B Facility”). Debt under the Eclipse Loan and Security Agreement is secured by a lien on substantially all of the Company’s assets. The Company was in compliance with the Eclipse Loan and Security Agreement covenants as of September 30, 2022. On January 7, 2022, the Company entered into the First Amendment to Loan and Security Agreement with EBC and Eclipse Business Capital SPV, LLC, which increased the Maximum Revolving Credit Facility Amount (as defined in the Amended Loan Agreement (as defined below)) to $65.0 million, among other things. On September 23, 2022, the Company entered into the Amended Loan Agreement with EBC and Eclipse Business Capital SPV, LLC, which, among other things, designated the change in reference rate from LIBOR to SOFR, and designated a Letter of Credit in the amount of $1.6 million to be utilized for working capital and general corporate purposes, as needed. Revolving Credit Facility The Revolving Credit Facility was drawn in part on September 27, 2021, to repay the indebtedness under the existing EBC Credit Facility, which was terminated in connection with such repayment, and to pay for the fees, costs and expenses incurred in connection with the EBC Credit Facility. The undrawn portion of the Revolving Credit Facility is available to fund working capital and other general corporate expenses and for other-permitted uses, including the financing of permitted investments and restricted payments. The Revolving 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 serve as collateral for the borrowings under the Revolving Credit Facility, which is scheduled to mature in September 2025. The Revolving Credit Facility includes a subjective acceleration clause and cash dominion provisions that permits the administrative agent to sweep cash daily from certain bank accounts into an account of the administrative agent to repay the Company’s obligations under the Revolving Credit Facility. The borrowings of the Revolving Credit Facility, therefore, will be classified as Long-term debt, current portion on the Condensed Consolidated Balance Sheet. Under the Revolving Credit Facility, the total loan capacity was $57.0 million, which was based on a borrowing base certificate in effect as of September 30, 2022. The Company had outstanding borrowings of $24.9 million under the Revolving Credit Facility, leaving a residual $30.5 million available for borrowings as of September 30, 2022. Borrowings under the Revolving Credit Facility bear interest at a rate per annum ranging from 4.5% to 5% in excess of the LIBOR Rate and 3.5% to 4% in excess of the Base Rate, dependent on the fixed cost coverage ratio, through October 1, 2022. The weighted average interest rate for the loan was approximately 5.9% for the nine months ended September 30, 2022. The Company capitalized fees of $1.8 million associated with the Revolving Credit Facility, which are included in Other assets in the Condensed Consolidated Balance Sheets. 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 September 30, 2022 were $1.4 million. On September 14, 2022, the Company issued a letter of credit in the amount of $1.6 million which was issued for insurance related purposes. The $1.6 million was drawn under the Company’s Revolving Credit Facility and thereby reduces the availability thereunder. The Letter of Credit bears an interest rate of 4.5% per annum and is scheduled to mature in September 2023, however the terms of such Letter of Credit provide that it may be automatically extended without written consent of any of the parties thereto. M&E Term Loan Facility Under the M&E Term Loan Facility, the Company had outstanding borrowings of $11.0 million where the monthly principal and interest installments commenced on March 1, 2022. Borrowings under the M&E Term Loan Facility bear interest at a rate per annum equal to 8% in excess of the LIBOR Rate and 7% in excess of the Base Rate. The weighted average interest rate for the M&E Term Loan was 9.0% for the nine months ended September 30, 2022. The M&E Term Loan Facility is scheduled to mature in September 2025. Any principal amounts repaid may not be reborrowed. The Company capitalized fees of $0.3 million associated with this M&E Term Loan Facility, which are included in the Consolidated Balance Sheets as a discount to the Long-term debt, net. 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 September 30, 2022 were $0.2 million. Term Loan B On October 1, 2021, Term Loan B was finalized in connection with the closing of the Basic Acquisition. Borrowings under Term Loan B bear interest at a rate per annum equal to 13% in excess of the LIBOR Rate and 11% in excess of the Base Rate. Term Loan B was scheduled to mature in September 2022. The weighted average interest rate for Term Loan B was 12.4% through the maturity date of August 16, 2022. On October 1, 2021, Term Loan B was drawn in full to repay borrowings under the Revolving Credit Facility as of September 30, 2022. Cash proceeds generated from the sale of Basic assets were utilized to make payments on Term Loan B and were not available to be reborrowed. The Company capitalized fees of $0.6 million associated with Term Loan B. On August 16, 2022, the outstanding balance of Term Loan B was terminated. At this time, the remaining balance of the loan was $0.3 million, which was paid utilizing funds from the Revolving Credit Facility. At the time of the termination, the Company had capitalized fees associated with Term Loan B of $0.1 million, which was charged to interest expense on the Condensed Consolidated Statement of Operations. Secured Promissory Note In connection with the PerfX Acquisition, on July 8, 2021, Bravo Wireline, LLC, a wholly owned subsidiary of Ranger, entered into a security agreement with Chief Investments, LLC, as administrative agent, for the financing of certain assets acquired. Certain of the assets acquired serve as collateral under the Secured Promissory Note. As of September 30, 2022, the aggregate principal balance outstanding was $7.0 million. Borrowings under the Secured Promissory Note bear interest at a rate of 8.5% per annum and is scheduled to mature in January 2024. Other Installment Purchases During the three and nine months ended September 30, 2021 reporting periods, 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 September 30, 2022, the aggregate principal balance outstanding under the Installment Agreements was $0.6 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. Debt Obligations and Scheduled Maturities As of September 30, 2022, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 30.4 2024 7.1 2025 2.5 2026 3.5 Total $ 43.5

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	Note 11 — Equity Series A Preferred Stock On September 10, 2021, the Company consummated the private placement, under the Securities Purchase Agreement, with certain accredited investors of 6.0 million newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share, in exchange for cash consideration in an aggregate amount of $42 million. The transaction closed on October 1, 2021 and during the nine months ended September 30, 2022, the Preferred Stock automatically converted into shares of the Company’s Class A Common Stock, on April 18, 2022, upon effectiveness of the registration statement filed on Form S-1 by the Company on March 31, 2022 (File No. 001-699-039). 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 nine months ended September 30, 2022, the Company granted approximately 67,400 and 484,600 RSAs, respectively, with an approximated aggregate value of $4.8 million. During the three and nine months ended September 30, 2021, the Company granted approximately 145,200 and 645,300 RSAs, respectively, with an aggregate value of $4.2 million. As of September 30, 2022, there was an aggregate $5.2 million of unrecognized expense related to restricted shares issued which is expected to be recognized over a weighted average period of 1.8 years.

Risk Concentrations

Risk Concentrations	9 Months Ended
	Sep. 30, 2022
Risk Concentrations
Risk Concentrations	Note 12 — Risk Concentrations Customer Concentrations During the three and nine months ended September 30, 2022, Occidental Petroleum Corporation (“Oxy”) accounted for 11% and 10% of the Company’s consolidated revenues, respectively. As of September 30, 2022, approximately 15% of the net accounts receivable balance was due from this customer. During the three months ended September 30, 2021, two customers, EOG Resources (“EOG”) and Pioneer Natural Resources (“Pioneer”), accounted for 16% and 12%, respectively, of the Company’s consolidated revenues. During the nine months ended September 30, 2021, three customers, EOG Resources, Pioneer, and Conoco Phillips accounted for 19%, 11% and 11%, respectively, of the Company’s consolidated revenues. As of September 30, 2021, approximately 32% of the net accounts receivable balance was due from these customers.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 13 — Income Taxes The Company is a corporation and is subject to U.S. federal income tax. The Company uses an estimated annual effective tax rate for purposes of determining the income tax provision during interim reporting periods. In calculating the estimated annual effective tax rate, the Company considers forecasted annual pre-tax income and estimated permanent book versus tax differences. Adjustments to the effective tax rate and other income tax related estimates could occur during the year as information and assumptions change which could include, but are not limited to, changes to forecasted amounts, estimates of permanent book versus tax differences, and changes to tax laws and rates. The effective U.S. federal income tax rate applicable to the Company for the nine months ended September 30, 2022 and 2021 was 11.6% and (0.2)%, respectively. The Company is subject to the Texas Margin Tax, which 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. Historically, utilization of a portion of the Company's net operating loss ("NOL") carryforwards has been subject to limitations of utilization under Section 382 of the Internal Revenue Code of 1986, as amended. The Company may be subject to additional limitations due to ownership changes that could occur. The Company reviews changes in the ownership of its shares as such information becomes available to determine whether changes that would result in further limitation have occurred. Given the availability and timing of such ownership information and the underlying analysis required to evaluate such changes, there can be no assurance that existing NOL carry-forwards or credits will not be subject to limitation as of the end of a reporting period. As a result of the initial public offering and subsequent reorganization, and incurred losses, the Company recorded a deferred tax asset. However, a 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 months ended September 30, 2022 and 2021 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income or loss primarily due to the release of the valuation allowance on deferred tax assets, the impact of permanent differences between book and taxable income, and income attributable to noncontrolling interest that is not subject to federal income taxes. The Company is subject to the following material taxing jurisdictions: the United States and Texas. As of September 30, 2022, 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 2016 through 2021. 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 September 30, 2022, 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. There have been 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 $1.1 million as of September 30, 2022 and such amounts are included in Accrued expenses on the Condensed Consolidated Balance Sheet. The Company will continue to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others.

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Note 14 — Earnings (Loss) per Share Earnings or loss per share is based on the amount of net income or 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 earnings or loss per share were as follows (in millions, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Income (loss) (numerator): Basic: Income (loss) attributable to Ranger Energy Services, Inc. $ 13.6 $ (5.6) $ 7.5 $ (15.8) Net income (loss) attributable to Class A Common Stock $ 13.6 $ (5.6) $ 7.5 $ (15.8) Diluted: Income (loss) attributable to Ranger Energy Services, Inc. $ 13.6 $ (5.6) $ 7.5 $ (15.8) Net income (loss) attributable to Class A Common Stock $ 13.6 $ (5.6) $ 7.5 $ (15.8) Weighted average shares (denominator): Weighted average number of shares - basic 24,845,517 11,011,864 22,323,308 9,714,508 Effect of share-based awards 338,550 — 314,149 — Weighted average number of shares - diluted 25,184,067 11,011,864 22,637,457 9,714,508 Basic income (loss) per share $ 0.55 $ (0.51) $ 0.34 $ (1.63) Diluted income (loss) per share $ 0.54 $ (0.51) $ 0.33 $ (1.63) During the three and nine months ended September 30, 2022, the Company excluded 0.1 million of equity-based awards in calculating diluted income per share, as the effect was anti-dilutive. During the three and nine months ended September 30, 2021, the Company excluded 1.1 million of equity-based awards and 6.9 million shares of Common Stock issuable upon conversion of the Company’s Class B Common Stock in calculating diluted loss per share, as the effect was anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 — 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.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segment Reporting	Note 16 — Segment Reporting The Company’s operations are located in the United States and organized into three reportable segments: High Specification Rigs, Wireline Services and Processing Solutions and Ancillary Services. 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, rig hours and state counts. 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 . Provides high-spec well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well. Wireline Services . Provides services necessary to bring and maintain a well on production and consists of our wireline completion, wireline production and pump down lines of business. Processing Solutions and Ancillary Services . Provides other services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services include equipment rentals, plug and abandonment, logistics hauling, processing solutions, as well as snubbing and coil tubing. 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. Certain segment information as of September 30, 2022 and December 31, 2021 and for the three and nine months ended September 30, 2022 and 2021 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2022 Revenues $ 79.7 $ 60.6 $ 36.7 $ — $ 177.0 Cost of services 62.7 49.2 26.2 — 138.1 General and administrative — — — 11.0 11.0 Depreciation and amortization 6.3 2.8 1.3 0.4 10.8 Impairment of fixed assets — — — 0.2 0.2 (Gain) loss on sale of assets — — — (1.1) (1.1) Operating income (loss) 10.7 8.6 9.2 (10.5) 18.0 Interest expense, net — — — 1.8 1.8 Income tax expense (benefit) — — — 3.4 3.4 Gain on bargain purchase — — — (0.8) (0.8) Net income (loss) $ 10.7 $ 8.6 $ 9.2 $ (14.9) $ 13.6 Capital expenditures $ 2.8 $ 0.4 $ 2.0 $ — $ 5.2 Nine Months Ended September 30, 2022 Revenues $ 220.6 $ 148.7 $ 84.9 $ — $ 454.2 Cost of services 175.3 134.8 66.0 — 376.1 General and administrative — — — 32.4 32.4 Depreciation and amortization 20.8 8.3 3.3 1.4 33.8 Impairment of fixed assets — — — 1.3 1.3 (Gain) loss on sale of assets — — — — — Operating income (loss) 24.5 5.6 15.6 (35.1) 10.6 Interest expense, net — — — 5.7 5.7 Income tax expense (benefit) — — — 1.0 1.0 Gain on bargain purchase — — — (3.6) (3.6) Net income (loss) $ 24.5 $ 5.6 $ 15.6 $ (38.2) $ 7.5 Capital expenditures $ 5.7 $ 2.0 $ 5.2 $ — $ 12.9 As of September 30, 2022 Accounts receivable, net $ 49.0 $ 29.7 $ 16.3 $ — $ 95.0 Property and equipment, net $ 128.8 $ 34.4 $ 45.7 $ 17.3 $ 226.2 Total assets $ 227.3 $ 77.3 $ 79.6 $ 24.0 $ 408.2 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2021 Revenues $ 29.9 $ 45.4 $ 6.4 $ — $ 81.7 Cost of services 25.1 44.0 4.9 — 74.0 General and administrative — — — 7.1 7.1 Depreciation and amortization 4.1 2.7 1.5 0.4 8.7 Operating income (loss) 0.7 (1.3) — (7.5) (8.1) Interest expense, net — — — 1.2 1.2 Income tax expense (benefit) — — — (0.2) (0.2) Net income (loss) $ 0.7 $ (1.3) $ — $ (8.5) $ (9.1) Capital expenditures $ 2.2 $ 0.6 $ 0.2 $ — $ 3.0 Nine Months Ended September 30, 2021 Revenues $ 80.6 $ 73.1 $ 16.3 $ — $ 170.0 Cost of services 68.1 70.4 13.7 — 152.2 General and administrative — — — 16.7 16.7 Depreciation and amortization 13.6 5.5 4.7 1.1 24.9 Operating income (loss) (1.1) (2.8) (2.1) (17.9) (23.9) Interest expense, net — — — 2.5 2.5 Income tax expense (benefit) — — — 0.1 0.1 Net income (loss) $ (1.1) $ (2.8) $ (2.1) $ (20.5) $ (26.5) Capital expenditures $ 4.6 $ 1.4 $ 0.5 $ — $ 6.5 As of December 31, 2021 Accounts receivable, net $ 40.9 $ 26.8 $ 13.1 $ — $ 80.8 Property and equipment, net $ 155.0 $ 41.5 $ 48.9 $ 25.2 $ 270.6 Total assets $ 219.1 $ 76.4 $ 69.4 $ 28.2 $ 393.1

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from audited financial statements and the 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 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, 2021 and 2020, included in the Annual Report filed on Form 10-K for the year ended December 31, 2021 (the “Annual Report”). Interim results for the periods presented may not be indicative of results that will be realized for future periods. Investments in which the Company exercises control are consolidated and the noncontrolling interests of such investments, which are not attributable directly or indirectly to the Company are presented as a separate component of net income or loss and equity in the accompanying Condensed Consolidated Financial Statements. The Company had ownership interests in Ranger LLC, which was consolidated within the Company’s consolidated financial statements, but was not wholly owned by the Company through October 1, 2021. Pursuant to the TRA Termination Agreement (as defined herein) all noncontrolling interests in Ranger LLC were eliminated. Changes in the Company’s ownership interest in Ranger LLC, while it retains its controlling interest, are accounted for as equity transactions. We have made certain reclassifications to our prior period operating revenue and cost of sales amounts due to the change in reportable segments whereby our Wireline and Ancillary Services were bifurcated from our historical Completion and Other
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; • Assets acquired and liabilities assumed in business combinations; • 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	Emerging Growth Company Status and Smaller Reporting Company Status The Company is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). In accordance with the JOBS Act, the Company will remain an EGC 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 $1.24 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. The Company will lose its EGC status on December 31, 2022, as this will represent the last day of the fiscal year following the fifth anniversary of our first Form S-1, which was filed in August 2017. An EGC 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 has and will continue to 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” (“SRC”) as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as Amended. SRC 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 SRC 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. SRC status is determined on an annual basis.
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. After consideration of the guidance changes, the Company does not believe the changes in the accounting standard will result in a material impact on its Condensed Consolidated Financial Statements. The Company expects to adopt the standard on a prospective basis. 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. On September 23, 2022, the Company entered into the Fourth Amendment to the Loan and Security Agreement (the Eclipse Loan and Security Agreement, as amended through and including the Fourth Amendment, the “Amended Loan Agreement”) with EBC and Eclipse Business Capital SPV, LLC where the Secured Overnight Financing Rate (“SOFR”) replaced LIBOR as the reference rate for interest on borrowings, effective October 1, 2022. 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 (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions): Cash $ 1.0 Accounts receivable 4.6 Inventory 2.4 Prepaid and other current assets 0.1 Operating leases, right-of-use asset 1.1 Property and equipment 18.4 Total assets acquired 27.6 Accounts payable 5.4 Accrued expenses 1.0 Operating lease right-of-use obligation 1.1 Total liabilities assumed 7.5 Allocated purchase price $ 20.1 The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions): Property and equipment $ 93.5 Total assets acquired 93.5 Finance lease obligations 3.9 Bargain purchase deferred tax liability 11.7 Total liabilities assumed 15.6 Net assets acquired 77.9 Bargain purchase 40.8 Purchase price $ 37.1
Business acquisition, pro forma information	The following unaudited pro-forma financial results considers that the PerfX Acquisition occurred as of January 1, 2021 (in millions): Nine Months Ended September 30, 2021 Revenue $ 224.9 Operating loss $ (27.2) Net loss $ (30.1) Basic and diluted loss per share $ (1.90) The following unaudited pro-forma financial results considers that the Basic Acquisition occurred as of January 1, 2021 (in millions, except per share amounts): Nine Months Ended September 30, 2021 Revenue $ 300.1 Operating loss $ (24.6) Net income (loss) $ (27.3) Basic earnings (loss) per share $ (1.68) Diluted earnings (loss) per share $ (1.68)

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment, net include the following (in millions): Estimated Useful Life September 30, 2022 December 31, 2021 High specification rigs 20 $ 130.5 $ 145.4 High specification rigs machinery and equipment 5 - 10 61.5 63.1 Wireline services machinery and equipment 5 - 10 54.3 53.1 Processing solutions and ancillary services machinery and equipment 3 - 30 66.9 69.4 Vehicles 3 - 15 45.1 46.3 Other property and equipment 5 - 25 21.0 30.9 Property and equipment 379.3 408.2 Less: accumulated depreciation (157.1) (140.5) Construction in progress 4.0 2.9 Property and equipment, net $ 226.2 $ 270.6

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of assets held for sale	Assets held for sale at September 30, 2022 consisted of the following (in millions): September 30, 2022 Land and buildings $ 3.0 Other PP&E 2.1 Assets held for sale $ 5.1

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 December 31, 2021 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (4.2) (3.6) Intangible assets, net $ 7.2 $ 7.8
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 September 30, Amount 2023 $ 0.7 2024 0.7 2025 0.7 2026 0.7 2027 0.7 Thereafter 3.7 Total $ 7.2

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses include the following (in millions): September 30, 2022 December 31, 2021 Accrued payables $ 11.0 $ 12.5 Accrued compensation 12.2 12.7 Accrued taxes 2.3 2.1 Accrued insurance 8.5 3.0 Accrued expenses $ 34.0 $ 30.3

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [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 nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Short-term lease costs $ 4.4 $ 1.1 $ 9.9 $ 1.9 Operating lease costs $ 1.1 $ 0.5 $ 2.2 $ 1.3 Operating cash outflows from operating leases $ 0.7 $ 0.4 $ 1.9 $ 1.1 Weighted average remaining lease term 4.7 years 5.2 years Weighted average discount rate 7.9 % 8.8 % Lease costs and other information related to finance leases for the three and nine months ended September 30, 2022 and 2021, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Amortization of finance leases $ 0.5 $ 0.6 $ 1.5 $ 2.2 Interest on lease liabilities $ 0.2 $ 0.1 $ 0.6 $ 0.3 Financing cash outflows from finance leases $ 1.1 $ 0.2 $ 3.4 $ 2.4 Weighted average remaining lease term 1.4 years 1.5 years Weighted average discount rate 2.6 % 2.8 %
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 September 30, Total 2023 $ 3.0 2024 3.0 2025 3.0 2026 2.9 2027 2.3 Thereafter 0.3 Total future minimum lease payments 14.5 Less: amount representing interest (2.2) Present value of future minimum lease payments 12.3 Less: current portion of operating lease obligations (2.2) Long-term portion of operating lease obligations $ 10.1
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 September 30, Total 2023 $ 4.0 2024 2.1 2025 0.8 2026 0.1 Total future minimum lease payments 7.0 Less: amount representing interest (0.4) Present value of future minimum lease payments 6.6 Less: current portion of finance lease obligations (3.8) Long-term portion of finance lease obligations $ 2.8 As of September 30, 2022, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 0.8 2024 0.6 2025 0.7 2026 0.7 2027 0.8 Thereafter 9.0 Total future minimum lease payments $ 12.6

Other Financing Liabilities (Ta

Other Financing Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, Total 2023 $ 4.0 2024 2.1 2025 0.8 2026 0.1 Total future minimum lease payments 7.0 Less: amount representing interest (0.4) Present value of future minimum lease payments 6.6 Less: current portion of finance lease obligations (3.8) Long-term portion of finance lease obligations $ 2.8 As of September 30, 2022, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 0.8 2024 0.6 2025 0.7 2026 0.7 2027 0.8 Thereafter 9.0 Total future minimum lease payments $ 12.6

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Eclipse Revolving Credit Facility $ 24.9 $ 27.0 Eclipse M&E Term Loan, net 10.8 12.2 Eclipse Term Loan B — 11.9 Secured Promissory Note 7.0 10.4 Installment Purchases 0.6 1.0 Total Debt 43.3 62.5 Current portion of long-term debt (30.4) (44.1) Long term-debt, net $ 12.9 $ 18.4
Schedule of future payments	As of September 30, 2022, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending September 30, Total 2023 $ 30.4 2024 7.1 2025 2.5 2026 3.5 Total $ 43.5

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) per Share	Earnings or loss per share is based on the amount of net income or 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 earnings or loss per share were as follows (in millions, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Income (loss) (numerator): Basic: Income (loss) attributable to Ranger Energy Services, Inc. $ 13.6 $ (5.6) $ 7.5 $ (15.8) Net income (loss) attributable to Class A Common Stock $ 13.6 $ (5.6) $ 7.5 $ (15.8) Diluted: Income (loss) attributable to Ranger Energy Services, Inc. $ 13.6 $ (5.6) $ 7.5 $ (15.8) Net income (loss) attributable to Class A Common Stock $ 13.6 $ (5.6) $ 7.5 $ (15.8) Weighted average shares (denominator): Weighted average number of shares - basic 24,845,517 11,011,864 22,323,308 9,714,508 Effect of share-based awards 338,550 — 314,149 — Weighted average number of shares - diluted 25,184,067 11,011,864 22,637,457 9,714,508 Basic income (loss) per share $ 0.55 $ (0.51) $ 0.34 $ (1.63) Diluted income (loss) per share $ 0.54 $ (0.51) $ 0.33 $ (1.63)

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of segment information	Certain segment information as of September 30, 2022 and December 31, 2021 and for the three and nine months ended September 30, 2022 and 2021 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2022 Revenues $ 79.7 $ 60.6 $ 36.7 $ — $ 177.0 Cost of services 62.7 49.2 26.2 — 138.1 General and administrative — — — 11.0 11.0 Depreciation and amortization 6.3 2.8 1.3 0.4 10.8 Impairment of fixed assets — — — 0.2 0.2 (Gain) loss on sale of assets — — — (1.1) (1.1) Operating income (loss) 10.7 8.6 9.2 (10.5) 18.0 Interest expense, net — — — 1.8 1.8 Income tax expense (benefit) — — — 3.4 3.4 Gain on bargain purchase — — — (0.8) (0.8) Net income (loss) $ 10.7 $ 8.6 $ 9.2 $ (14.9) $ 13.6 Capital expenditures $ 2.8 $ 0.4 $ 2.0 $ — $ 5.2 Nine Months Ended September 30, 2022 Revenues $ 220.6 $ 148.7 $ 84.9 $ — $ 454.2 Cost of services 175.3 134.8 66.0 — 376.1 General and administrative — — — 32.4 32.4 Depreciation and amortization 20.8 8.3 3.3 1.4 33.8 Impairment of fixed assets — — — 1.3 1.3 (Gain) loss on sale of assets — — — — — Operating income (loss) 24.5 5.6 15.6 (35.1) 10.6 Interest expense, net — — — 5.7 5.7 Income tax expense (benefit) — — — 1.0 1.0 Gain on bargain purchase — — — (3.6) (3.6) Net income (loss) $ 24.5 $ 5.6 $ 15.6 $ (38.2) $ 7.5 Capital expenditures $ 5.7 $ 2.0 $ 5.2 $ — $ 12.9 As of September 30, 2022 Accounts receivable, net $ 49.0 $ 29.7 $ 16.3 $ — $ 95.0 Property and equipment, net $ 128.8 $ 34.4 $ 45.7 $ 17.3 $ 226.2 Total assets $ 227.3 $ 77.3 $ 79.6 $ 24.0 $ 408.2 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2021 Revenues $ 29.9 $ 45.4 $ 6.4 $ — $ 81.7 Cost of services 25.1 44.0 4.9 — 74.0 General and administrative — — — 7.1 7.1 Depreciation and amortization 4.1 2.7 1.5 0.4 8.7 Operating income (loss) 0.7 (1.3) — (7.5) (8.1) Interest expense, net — — — 1.2 1.2 Income tax expense (benefit) — — — (0.2) (0.2) Net income (loss) $ 0.7 $ (1.3) $ — $ (8.5) $ (9.1) Capital expenditures $ 2.2 $ 0.6 $ 0.2 $ — $ 3.0 Nine Months Ended September 30, 2021 Revenues $ 80.6 $ 73.1 $ 16.3 $ — $ 170.0 Cost of services 68.1 70.4 13.7 — 152.2 General and administrative — — — 16.7 16.7 Depreciation and amortization 13.6 5.5 4.7 1.1 24.9 Operating income (loss) (1.1) (2.8) (2.1) (17.9) (23.9) Interest expense, net — — — 2.5 2.5 Income tax expense (benefit) — — — 0.1 0.1 Net income (loss) $ (1.1) $ (2.8) $ (2.1) $ (20.5) $ (26.5) Capital expenditures $ 4.6 $ 1.4 $ 0.5 $ — $ 6.5 As of December 31, 2021 Accounts receivable, net $ 40.9 $ 26.8 $ 13.1 $ — $ 80.8 Property and equipment, net $ 155.0 $ 41.5 $ 48.9 $ 25.2 $ 270.6 Total assets $ 219.1 $ 76.4 $ 69.4 $ 28.2 $ 393.1

Organization and Business Ope_2

Organization and Business Operations - Business (Details)	9 Months Ended
	Sep. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Millions				3 Months Ended		6 Months Ended	9 Months Ended
	Oct. 01, 2021 USD ($)	Jul. 08, 2021 USD ($) shares	May 14, 2021 USD ($) shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Jun. 30, 2022 acquisition	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jul. 09, 2031	Jul. 08, 2031
Business Acquisition [Line Items]
Number of acquisitions | acquisition						3
Gain on bargain purchase, net of tax	$ 40			$ 0.8	$ 0		$ 3.6	$ 0
Patriot
Business Acquisition [Line Items]
Allocated purchase price			$ 11
Business combination common stock and cash paid			$ 3.3
Patriot | Class A Common Stock
Business Acquisition [Line Items]
Number of shares issued (in shares) | shares			1,300,000
PerfX Wireline Services, LLC
Business Acquisition [Line Items]
Allocated purchase price		$ 20.1
Financing receivable		$ 11.4
Interest rate				8.50%			8.50%
Revenue from acquiree					27.9			27.9
Operating income (loss) from acquiree					$ 0.5			0.5
Acquisition costs								$ 0.7
PerfX Wireline Services, LLC | Forecast
Business Acquisition [Line Items]
Ownership (in percent)									15%	30%
PerfX Wireline Services, LLC | Class A Common Stock
Business Acquisition [Line Items]
Number of shares issued (in shares) | shares		1,000,000		100,000
Basic Energy Acquisition
Business Acquisition [Line Items]
Allocated purchase price	37.1
Revenue from acquiree				$ 60.8			$ 157.3
Operating income (loss) from acquiree				12.1			30.9
Gain on bargain purchase, net of tax	$ 40.8			$ 0.8			$ 3.6

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Oct. 01, 2021	Jul. 08, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Bargain purchase	$ 40		$ 0.8	$ 0	$ 3.6	$ 0
PerfX Wireline Services, LLC
Business Acquisition [Line Items]
Cash		$ 1
Accounts receivable		4.6
Inventory		2.4
Prepaid and other current assets		0.1
Operating leases, right-of-use asset		1.1
Property and equipment		18.4
Total assets acquired		27.6
Accounts payable		5.4
Accrued expenses		1
Operating lease right-of-use obligation		1.1
Total liabilities assumed		7.5
Allocated purchase price		$ 20.1
Basic Energy Acquisition
Business Acquisition [Line Items]
Property and equipment	93.5
Total assets acquired	93.5
Operating lease right-of-use obligation	3.9
Bargain purchase deferred tax liability	11.7
Total liabilities assumed	15.6
Net assets acquired	77.9
Bargain purchase	40.8		$ 0.8		$ 3.6
Allocated purchase price	$ 37.1

Business Combinations - Pro For

Business Combinations - Pro Forma (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($) $ / shares
PerfX Wireline Services, LLC
Business Acquisition [Line Items]
Revenue	$ 224.9
Operating loss	(27.2)
Business Acquisition, Pro Forma Net Income (Loss)	$ (30.1)
Basic earnings (loss) per share (in dollars per shares) | $ / shares	$ (1,900,000)
Diluted earnings (loss) per share(in dollars per shares) | $ / shares	$ (1,900,000)
Basic Energy Acquisition
Business Acquisition [Line Items]
Revenue	$ 300.1
Operating loss	(24.6)
Business Acquisition, Pro Forma Net Income (Loss)	$ (27.3)
Basic earnings (loss) per share (in dollars per shares) | $ / shares	$ (1,680,000)
Diluted earnings (loss) per share(in dollars per shares) | $ / shares	$ (1,680,000)

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment, Net
Property and equipment	$ 379.3		$ 379.3		$ 408.2
Less: accumulated depreciation	(157.1)		(157.1)		(140.5)
Construction in progress	4		4		2.9
Property and equipment, net	226.2		226.2		270.6
Depreciation expense	10.5	$ 8.6	$ 33.2	$ 24.4
High specification rigs
Property, Plant and Equipment, Net
Estimated Useful Life (years)			20 years
Property and equipment	130.5		$ 130.5		145.4
High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	61.5		61.5		63.1
Wireline services machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	54.3		54.3		53.1
Processing solutions and ancillary services machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	66.9		66.9		69.4
Vehicles
Property, Plant and Equipment, Net
Property and equipment	45.1		45.1		46.3
Other property and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 21		$ 21		$ 30.9
Minimum | High specification rigs machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)			5 years
Minimum | Wireline services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)			5 years
Minimum | Processing solutions and ancillary services 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 | Wireline services machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)			10 years
Maximum | Processing solutions and ancillary services 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

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of fixed assets	$ 0.2	$ 0	$ 1.3	$ 0
Discontinued Operations, Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	5.1		5.1
Discontinued Operations, Held-for-sale or Disposed of by Sale | Land and buildings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment	3		3
Discontinued Operations, Held-for-sale or Disposed of by Sale | Other PP&E
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment	$ 2.1		$ 2.1

Intangible Assets - Intangibles

Intangible Assets - Intangibles (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Intangible assets
Less: accumulated amortization	$ (4.2)	$ (3.6)
Intangible assets, net	7.2	7.8
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

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.3	$ 0.1	$ 0.6	$ 0.5

Intangible Assets - Amortizatio

Intangible Assets - Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 0.7
2024	0.7
2025	0.7
2026	0.7
2027	0.7
Thereafter	3.7
Intangible assets, net	$ 7.2	$ 7.8

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued payables	$ 11	$ 12.5
Accrued compensation	12.2	12.7
Accrued taxes	2.3	2.1
Accrued insurance	8.5	3
Accrued expenses	$ 34	$ 30.3

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2022
Minimum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	1 year
Lease term, finance leases	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	9 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Short-term lease costs	$ 4.4	$ 1.1	$ 9.9	$ 1.9
Operating lease costs	1.1	0.5	2.2	1.3
Operating cash outflows from operating leases	$ 0.7	$ 0.4	$ 1.9	$ 1.1
Weighted average remaining lease term	4 years 8 months 12 days	5 years 2 months 12 days	4 years 8 months 12 days	5 years 2 months 12 days
Weighted average discount rate	7.90%	8.80%	7.90%	8.80%
Amortization of finance leases	$ 0.5	$ 0.6	$ 1.5	$ 2.2
Interest on lease liabilities	0.2	0.1	0.6	0.3
Financing cash outflows from finance leases	$ 1.1	$ 0.2	$ 3.4	$ 2.4
Weighted average remaining lease term	1 year 4 months 24 days	1 year 6 months	1 year 4 months 24 days	1 year 6 months
Weighted average discount rate	2.60%	2.80%	2.60%	2.80%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2023	$ 3
2024	3
2025	3
2026	2.9
2027	2.3
Thereafter	0.3
Total future minimum lease payments	14.5
Less: amount representing interest	(2.2)
Present value of future minimum lease payments	12.3
Less: current portion of operating lease obligations	(2.2)
Long-term portion of operating lease obligations	10.1	$ 5.8
Finance Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2023	4
2024	2.1
2025	0.8
2026	0.1
Total future minimum lease payments	7
Less: amount representing interest	(0.4)
Present value of future minimum lease payments	6.6
Less: current portion of finance lease obligations	(3.8)
Long-term portion of finance lease obligations	$ 2.8

Other Financing Liabilities (De

Other Financing Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Proceeds from financing of sale-leasebacks	$ 0	$ (15.6)
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%
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	Sep. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
2023	$ 4
Total future minimum lease payments	7
Building
Lessee, Lease, Description [Line Items]
2023	0.8
2024	0.6
2025	0.7
2026	0.7
2027	0.8
Thereafter	9
Total future minimum lease payments	$ 12.6

Debt - Summary of Debt Outstand

Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total Debt	$ 43.3	$ 62.5
Current portion of long-term debt	(30.4)	(44.1)
Long term-debt, net	12.9	18.4
Eclipse Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt	24.9	27
Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Total Debt	10.8	12.2
Eclipse Term Loan B
Debt Instrument [Line Items]
Total Debt	0	11.9
Secured Promissory Note
Debt Instrument [Line Items]
Total Debt	7	10.4
Installment Purchases
Debt Instrument [Line Items]
Total Debt	$ 0.6	$ 1

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)			9 Months Ended
	Aug. 16, 2022	Oct. 01, 2021	Sep. 30, 2022	Sep. 23, 2022	Sep. 14, 2022	Jan. 07, 2022	Dec. 31, 2021	Sep. 27, 2021
Debt Instrument [Line Items]
Remaining principal balance			$ 43,300,000				$ 62,500,000
Letter of credit					$ 1,600,000
Total			43,500,000
Revolving Credit Facility
Debt Instrument [Line Items]
Remaining principal balance			24,900,000				27,000,000
Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Remaining principal balance			10,800,000				12,200,000
Eclipse Term Loan B
Debt Instrument [Line Items]
Remaining principal balance			0				11,900,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowings						$ 65,000,000
Line of Credit | EBC Credit Facility
Debt Instrument [Line Items]
Maximum borrowings								$ 77,500,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings			57,000,000					50,000,000
Remaining principal balance			24,900,000
Remaining borrowing			30,500,000
Unamortized debt issuance costs			1,800,000
Unamortized debt issuance expense			1,400,000
Line of Credit | Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Maximum borrowings			$ 11,000,000					12,500,000
Weighted average interest rate			9%
Unamortized debt issuance costs			$ 300,000
Unamortized debt issuance expense			$ 200,000
Line of Credit | Eclipse Term Loan B
Debt Instrument [Line Items]
Maximum borrowings								$ 15,000,000
Weighted average interest rate			12.40%
Unamortized debt issuance costs	$ 100,000		$ 600,000
Exercise of right to stop payments on remaining principal balance, amount	$ 300,000
Line of Credit | Credit facility
Debt Instrument [Line Items]
Maximum borrowings				$ 1,600,000	$ 1,600,000
Interest rate (as a percent)					4.50%
Line of Credit | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate			5.90%
Line of Credit | LIBOR | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			4.50%
Line of Credit | LIBOR | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			5%
Line of Credit | LIBOR | Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Interest rate margin (as a percent)			8%
Line of Credit | LIBOR | Eclipse Term Loan B
Debt Instrument [Line Items]
Interest rate margin (as a percent)		13%
Line of Credit | Base Rate | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			3.50%
Line of Credit | Base Rate | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rate margin (as a percent)			4%
Line of Credit | Base Rate | Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Interest rate margin (as a percent)			7%
Line of Credit | Base Rate | Eclipse Term Loan B
Debt Instrument [Line Items]
Interest rate margin (as a percent)		11%
Installment Purchases
Debt Instrument [Line Items]
Remaining principal balance			$ 600,000				$ 1,000,000
Secured Promissory Note | Notes payable
Debt Instrument [Line Items]
Remaining principal balance			$ 7,000,000
Interest rate (as a percent)			8.50%
Installment Purchases
Debt Instrument [Line Items]
Debt term			36 months

Debt - Schedule of Future Payme

Debt - Schedule of Future Payments (Details) $ in Millions	Sep. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 30.4
2024	7.1
2025	2.5
2026	3.5
Total	$ 43.5

Equity (Details)

Equity (Details) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 10, 2021 USD ($) $ / shares shares	Apr. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) installment $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) installment $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value (in dollars per share)			$ 0.01		$ 0.01		$ 0.01
Series A Convertible Preferred Stock | Private Placement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares) | shares	6,000,000
Preferred stock, par value (in dollars per share)	$ 0.01
Aggregate value of shares issued | $	$ 42
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equal annual installments | installment			3		3
Granted shares issued (in shares) | shares			67,400	145,200	484,600	645,300
Value of shares granted | $		$ 4.8		$ 4.2	$ 4.8	$ 4.2
Unrecognized expense related to restricted shares issued | $			$ 5.2		$ 5.2
Weighted average period					1 year 9 months 18 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares					91,500
Performance period					3 years
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of target shares granted to employees (in dollars per share)					$ 14.11
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of target shares granted to employees (in dollars per share)					$ 12.69
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				100,900		246,200
Unrecognized expense related to restricted shares issued | $			$ 1.4		$ 1.4
Weighted average period					1 year 8 months 12 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)				$ 9.24
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)						$ 7.45

Risk Concentrations (Details)

Risk Concentrations (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue | Occidental Petroleum Corporation
Customer Concentrations
Concentration risk (as a percent)	11%		10%
Revenue | EOG Resources
Customer Concentrations
Concentration risk (as a percent)		16%		19%
Revenue | Pioneer Natural Resources
Customer Concentrations
Concentration risk (as a percent)		12%		11%
Revenue | ConocoPhillips
Customer Concentrations
Concentration risk (as a percent)				11%
Accounts Receivable | Occidental Petroleum Corporation
Customer Concentrations
Concentration risk (as a percent)			15%
Accounts Receivable | EOG Resources, Pioneer Natural Resources and Conoco Phillips
Customer Concentrations
Concentration risk (as a percent)				32%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Contingency [Line Items]
Effective federal income tax rate (as a percent)	11.60%	(0.20%)
Texas margin tax, maximum statutory effective rate	0.75%
COVID-19
Income Tax Contingency [Line Items]
Deferred payroll tax payments	$ 1.1

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic:
Income (loss) attributable to Ranger Energy Services, Inc.	$ 13.6	$ (5.6)	$ 7.5	$ (15.8)
Net income (loss) attributable to Class A Common Stock	13.6	(5.6)	7.5	(15.8)
Diluted:
Income (loss) attributable to Ranger Energy Services, Inc.	13.6	(5.6)	7.5	(15.8)
Net income (loss) attributable to Class A Common Stock	$ 13.6	$ (5.6)	$ 7.5	$ (15.8)
Weighted average shares (denominator):
Weighted average number of shares - basic (in shares)	24,845,517	11,011,864	22,323,308	9,714,508
Effect of share-based awards (in shares)	338,550	0	314,149	0
Weighted average number of shares - diluted (in shares)	25,184,067	11,011,864	22,637,457	9,714,508
Basic income (loss) per share (in dollars per share)	$ 0.55	$ (0.51)	$ 0.34	$ (1.63)
Diluted income (loss) per share (in dollars per share)	$ 0.54	$ (0.51)	$ 0.33	$ (1.63)
Equity-Based awards
Weighted average shares (denominator):
Antidilutive securities (in shares)	100,000	1,100,000	100,000	1,100,000
Convertible Common Stock
Weighted average shares (denominator):
Antidilutive securities (in shares)		6,900,000		6,900,000

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions		3 Months Ended		9 Months Ended
	Oct. 01, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting
Number of reportable segments | segment				3
Revenues		$ 177	$ 81.7	$ 454.2	$ 170
Cost of services		138.1	74	376.1	152.2
General and administrative		11	7.1	32.4	16.7
Depreciation and amortization		10.8	8.7	33.8	24.9
Impairment of fixed assets		0.2	0	1.3	0
Gain (loss) on sale of assets		1.1	0	0	(0.1)
Operating income (loss)		18	(8.1)	10.6	(23.9)
Interest expense, net		1.8	1.2	5.7	2.5
Tax (benefit) expense		3.4	(0.2)	1	0.1
Gain on bargain purchase, net of tax	$ (40)	(0.8)	0	(3.6)	0
Net income (loss)		13.6	(9.1)	7.5	(26.5)
Capital expenditures		5.2	3	12.9	6.5
Accounts receivable, net		95		95		$ 80.8
Property and equipment, net		226.2		226.2		270.6
Total assets		408.2		408.2		393.1
Operating Segments | High specification rigs
Segment Reporting
Revenues		79.7	29.9	220.6	80.6
Cost of services		62.7	25.1	175.3	68.1
General and administrative		0	0	0	0
Depreciation and amortization		6.3	4.1	20.8	13.6
Impairment of fixed assets		0		0
Gain (loss) on sale of assets		0		0
Operating income (loss)		10.7	0.7	24.5	(1.1)
Interest expense, net		0	0	0	0
Tax (benefit) expense		0		0	0
Gain on bargain purchase, net of tax		0		0
Net income (loss)		10.7	0.7	24.5	(1.1)
Capital expenditures		2.8	2.2	5.7	4.6
Accounts receivable, net		49		49		40.9
Property and equipment, net		128.8		128.8		155
Total assets						219.1
Operating Segments | Wireline services
Segment Reporting
Revenues		60.6	45.4	148.7	73.1
Cost of services		49.2	44	134.8	70.4
General and administrative		0	0	0	0
Depreciation and amortization		2.8	2.7	8.3	5.5
Impairment of fixed assets		0		0
Gain (loss) on sale of assets		0		0
Operating income (loss)		8.6	(1.3)	5.6	(2.8)
Interest expense, net		0	0	0	0
Tax (benefit) expense		0	0	0	0
Gain on bargain purchase, net of tax		0		0
Net income (loss)		8.6	(1.3)	5.6	(2.8)
Capital expenditures		0.4	0.6	2	1.4
Accounts receivable, net		29.7		29.7		26.8
Property and equipment, net		34.4		34.4		41.5
Total assets						76.4
Operating Segments | Processing solutions and ancillary services
Segment Reporting
Revenues		36.7	6.4	84.9	16.3
Cost of services		26.2	4.9	66	13.7
General and administrative		0	0	0	0
Depreciation and amortization		1.3	1.5	3.3	4.7
Impairment of fixed assets		0		0
Gain (loss) on sale of assets		0		0
Operating income (loss)		9.2	0	15.6	(2.1)
Interest expense, net		0	0	0	0
Tax (benefit) expense		0	0	0	0
Gain on bargain purchase, net of tax		0		0
Net income (loss)		9.2	0	15.6	(2.1)
Capital expenditures		2	0.2	5.2	0.5
Accounts receivable, net		16.3		16.3		13.1
Property and equipment, net		45.7		45.7		48.9
Total assets						69.4
Segment Reconciling Items
Segment Reporting
Revenues		0	0	0	0
Cost of services		0	0	0	0
General and administrative		11	7.1	32.4	16.7
Depreciation and amortization		0.4	0.4	1.4	1.1
Impairment of fixed assets		0.2		1.3
Gain (loss) on sale of assets		1.1		0
Operating income (loss)		(10.5)	(7.5)	(35.1)	(17.9)
Interest expense, net		1.8	1.2	5.7	2.5
Tax (benefit) expense		3.4	(0.2)	1	0.1
Gain on bargain purchase, net of tax		(0.8)		(3.6)
Net income (loss)		(14.9)	(8.5)	(38.2)	(20.5)
Capital expenditures		0	$ 0	0	$ 0
Accounts receivable, net		0		0		0
Property and equipment, net		$ 17.3		$ 17.3		25.2
Total assets						$ 28.2