Ranger Energy Services (RNGR) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001699039
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		24,521,679
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	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 6.4	$ 3.7
Accounts receivable, net	74.9	91.2
Contract assets	31.1	26.9
Inventory	7.5	5.9
Prepaid expenses	7.2	9.2
Assets held for sale	1	3.2
Total current assets	128.1	140.1
Property and equipment, net	218.8	221.6
Intangible assets, net	6.7	7.1
Operating leases, right-of-use assets	10	11.2
Other assets	1.2	1.6
Total assets	364.8	381.6
Liabilities and Stockholders' Equity
Accounts payable	22	24.3
Accrued expenses	31.1	36.1
Other financing liability, current portion	0.6	0.7
Long-term debt, current portion	0.3	6.8
Other current liabilities	6.3	6.6
Total current liabilities	60.3	74.5
Operating leases, right-of-use obligations	8.4	9.6
Other financing liability	11.3	11.6
Long-term debt, net	0	11.6
Other long-term liabilities	10.8	8.1
Total liabilities	90.8	115.4
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued or outstanding as of June 30, 2023 and December 31, 2022	0	0
Less: Class A Common Stock held in treasury at cost; 1,099,928 treasury shares as of June 30, 2023 and 551,828 treasury shares as of December 31, 2022	(9.7)	(3.8)
Retained earnings	19.5	7.1
Additional paid-in capital	263.9	262.6
Total stockholders' equity	274	266.2
Total liabilities and stockholders' equity	364.8	381.6
Class A Common Stock
Stockholders' equity
Common stock A and B	0.3	0.3
Class B Common Stock
Stockholders' equity
Common stock A and B	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	1,099,928	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)	25,689,807	25,446,292
Common stock, shares outstanding (in shares)	24,589,879	24,894,464
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Total revenue	$ 163.2	$ 153.6	$ 320.7	$ 277.2
Cost of services (exclusive of depreciation and amortization):
Cost of services	136.3	130	267.2	238
General and administrative	7.3	11.2	15.7	21.4
Depreciation and amortization	8.7	11.4	18.7	23
Impairment of fixed assets	0	1.1	0	1.1
(Gain) loss on sale of assets	(0.5)	2.1	(1.5)	1.1
Total operating expenses	151.8	155.8	300.1	284.6
Operating income (loss)	11.4	(2.2)	20.6	(7.4)
Other (income) expenses
Interest expense, net	0.9	1.8	2.1	3.9
Loss on debt retirement	2.4	0	2.4	0
Gain on bargain purchase, net of tax	0	(2.8)	0	(2.8)
Total other (income) expenses	3.3	(1)	4.5	1.1
Income (loss) before income tax expense (benefit)	8.1	(1.2)	16.1	(8.5)
Income tax expense (benefit)	2	(0.8)	3.8	(2.4)
Net income (loss)	$ 6.1	$ (0.4)	$ 12.3	$ (6.1)
Income (loss) per common share
Basic (in dollars per share)	$ 0.25	$ (0.02)	$ 0.49	$ (0.29)
Diluted (in dollars per share)	$ 0.24	$ (0.02)	$ 0.49	$ (0.29)
Weighted average common shares outstanding
Basic (in shares)	24,840,569	23,581,466	24,890,178	21,041,300
Diluted (in shares)	25,188,123	23,581,466	25,249,026	21,041,300
High specification rigs
Revenue
Total revenue	$ 77.6	$ 76	$ 155.1	$ 140.9
Cost of services (exclusive of depreciation and amortization):
Cost of services	62	61.8	122.1	112.6
Wireline services
Revenue
Total revenue	54.5	49.5	104.4	88.1
Cost of services (exclusive of depreciation and amortization):
Cost of services	48.8	45.2	94.5	85.6
Processing solutions and ancillary services
Revenue
Total revenue	31.1	28.1	61.2	48.2
Cost of services (exclusive of depreciation and amortization):
Cost of services	$ 25.5	$ 23	$ 50.6	$ 39.8

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Class A Common Stock	Total controlling interest shareholders’ equity	Total controlling interest shareholders’ equity Series A Preferred Stock	Total controlling interest shareholders’ equity Class A Common Stock	Preferred Stock Series A Preferred Stock	Preferred Stock Class A Common Stock	Common Stock Class A Common Stock	Treasury Stock	Retained Earnings (accumulated deficit)	Additional paid-in capital
Preferred stock, shares outstanding (in shares) at Dec. 31, 2021						6,000,001
Common stock, shares outstanding (in shares) at Dec. 31, 2021								18,981,172
Treasury stock, beginning (in shares) at Dec. 31, 2021									(551,828)
Balance, beginning of period at Dec. 31, 2021			$ 248.7			$ 0.1		$ 0.2	$ (3.8)	$ (8)	$ 260.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares converted to Class A Common Stock (in shares)						(6,000,001)		6,000,001
Issuance of shares from Series A Preferred Stock conversion (in shares)								399,767
Shares converted to Class A Common Stock				$ 0.1	$ (0.1)	$ (0.1)	$ 0.1
Shares withheld for taxes on equity transactions (in shares)								(112,084)
Net income (loss) attributable to controlling interest	$ (6.1)		(6.1)							(6.1)
Equity based compensation			1.7								1.7
Shares withheld for taxes on equity transactions			(1.2)								(1.2)
Preferred stock, shares outstanding (in shares) at Jun. 30, 2022						0
Common stock, shares outstanding (in shares) at Jun. 30, 2022								25,268,856
Treasury stock, ending (in shares) at Jun. 30, 2022									(551,828)
Balance, end of period at Jun. 30, 2022			243.1			$ 0		$ 0.3	$ (3.8)	(14.1)	260.7
Preferred stock, shares outstanding (in shares) at Mar. 31, 2022						6,000,001
Common stock, shares outstanding (in shares) at Mar. 31, 2022								19,223,189
Treasury stock, beginning (in shares) at Mar. 31, 2022									(551,828)
Balance, beginning of period at Mar. 31, 2022			242.7			$ 0.1		$ 0.2	$ (3.8)	(13.7)	259.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares converted to Class A Common Stock (in shares)						(6,000,001)		6,000,001
Issuance of shares from Series A Preferred Stock conversion (in shares)								60,366
Shares converted to Class A Common Stock				$ 1	$ (1)	$ (0.1)		$ 0.1
Shares withheld for taxes on equity transactions (in shares)								(14,700)
Net income (loss) attributable to controlling interest			(0.4)							(0.4)
Equity based compensation			0.9								0.9
Shares withheld for taxes on equity transactions			(0.1)								(0.1)
Preferred stock, shares outstanding (in shares) at Jun. 30, 2022						0
Common stock, shares outstanding (in shares) at Jun. 30, 2022								25,268,856
Treasury stock, ending (in shares) at Jun. 30, 2022									(551,828)
Balance, end of period at Jun. 30, 2022			243.1			$ 0		$ 0.3	$ (3.8)	(14.1)	260.7
Preferred stock, shares outstanding (in shares) at Dec. 31, 2022	0					0
Common stock, shares outstanding (in shares) at Dec. 31, 2022		24,894,464						25,446,292
Treasury stock, beginning (in shares) at Dec. 31, 2022	(551,828)								(551,828)
Balance, beginning of period at Dec. 31, 2022			266.3			$ 0		$ 0.3	$ (3.8)	7.2	262.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares from Series A Preferred Stock conversion (in shares)								330,616
Shares withheld for taxes on equity transactions (in shares)								(87,101)
Repurchase of Class A Common Stock (in shares)		(548,100)							(548,100)
Repurchase of Class A Common Stock		$ (5.9)	(5.9)						$ (5.9)
Net income (loss) attributable to controlling interest	$ 12.3		12.3							12.3
Equity based compensation			2.3								2.3
Shares withheld for taxes on equity transactions			(1)								(1)
Preferred stock, shares outstanding (in shares) at Jun. 30, 2023	0					0
Common stock, shares outstanding (in shares) at Jun. 30, 2023		24,589,879						25,689,807
Treasury stock, ending (in shares) at Jun. 30, 2023	(1,099,928)								(1,099,928)
Balance, end of period at Jun. 30, 2023			274			$ 0		$ 0.3	$ (9.7)	19.5	263.9
Preferred stock, shares outstanding (in shares) at Mar. 31, 2023						0
Common stock, shares outstanding (in shares) at Mar. 31, 2023								25,677,673
Treasury stock, beginning (in shares) at Mar. 31, 2023									(591,228)
Balance, beginning of period at Mar. 31, 2023			272.2			$ 0		$ 0.3	$ (4.2)	13.4	262.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares from Series A Preferred Stock conversion (in shares)								12,134
Repurchase of Class A Common Stock (in shares)		(508,700)							(508,700)
Repurchase of Class A Common Stock		$ (5.5)	(5.5)						$ (5.5)
Net income (loss) attributable to controlling interest			6.1							6.1
Equity based compensation			1.2								1.2
Preferred stock, shares outstanding (in shares) at Jun. 30, 2023	0					0
Common stock, shares outstanding (in shares) at Jun. 30, 2023		24,589,879						25,689,807
Treasury stock, ending (in shares) at Jun. 30, 2023	(1,099,928)								(1,099,928)
Balance, end of period at Jun. 30, 2023			$ 274			$ 0		$ 0.3	$ (9.7)	$ 19.5	$ 263.9

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net income (loss)	$ 12.3	$ (6.1)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	18.7	23
Equity based compensation	2.4	1.7
(Gain) loss on disposal of property and equipment	(1.5)	1.1
Impairment of fixed assets	0	1.1
Gain on bargain purchase, net of tax	0	(2.8)
Deferred income tax expense	3.8	0
Loss on debt retirement	2.4	0
Other expense, net	0.9	0.6
Changes in operating assets and liabilities
Accounts receivable	15.8	(3.7)
Contract assets	(4.2)	(14.5)
Inventory	(1.8)	(1.7)
Prepaid expenses and other current assets	2	5
Other assets	0.9	(1.2)
Accounts payable	(2.3)	6.2
Accrued expenses	(7.2)	0
Other current liabilities	(0.1)	(0.2)
Other long-term liabilities	(1.2)	(0.7)
Net cash provided by operating activities	40.9	7.8
Cash Flows from Investing Activities
Purchase of property and equipment	(12.9)	(5.7)
Proceeds from disposal of property and equipment	4.7	13.9
Net cash provided by (used in) investing activities	(8.2)	8.2
Cash Flows from Financing Activities
Principal payments on financing lease obligations	(2.7)	(2.3)
Principal payments on Secured Promissory Note	(6.2)	(2.7)
Principal payments on other financing liabilities	(0.5)	(1.8)
Shares withheld on equity transactions	(0.9)	(1.2)
Payments on Installment Purchases	(0.2)	(0.2)
Repurchase of Class A Common Stock	(5.9)	0
Deferred financing costs on Wells Fargo	(0.7)	0
Net cash used in financing activities	(30)	(11.5)
Increase in cash and cash equivalents	2.7	4.5
Cash and cash equivalents, Beginning of Period	3.7	0.6
Cash and cash equivalents, End of Period	6.4	5.1
Supplemental Cash Flow Information
Interest paid	0.6	0.6
Supplemental Disclosure of Non-cash Investing and Financing Activities
Additions to fixed assets through installment purchases and financing leases	(3.4)	(2)
Additions to fixed assets through asset trades	(1.1)	0
Senior Revolving Credit Facility
Cash Flows from Financing Activities
Borrowings under Credit Facility	298.6	283.3
Principal payments on Credit Facility	(301.1)	(276.4)
Term Loan B Facility
Cash Flows from Financing Activities
Principal payments on Credit Facility	0	(9.4)
Eclipse M&E Term Loan, net
Cash Flows from Financing Activities
Principal payments on Credit Facility	$ (10.4)	$ (0.8)

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2023
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,” “we,” “us” or the “Company”) is a provider of onshore high specification (“high-spec”) well service rigs, wireline services, and additional processing solutions and ancillary services in the United States (“U.S.”). The Company provides an extensive range of well site services to leading U.S. exploration and production (“E&P”) companies that are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. Our service offerings consist of well completion support, workover, well maintenance, wireline, fluid management, and 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, plug and abandonment, logistics hauling, snubbing and coil tubing, 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, and 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 assets consist of membership interests in RNGR Energy Services, LLC, a Delaware limited liability company (“Ranger LLC”). Ranger LLC owns all of the outstanding equity interests in Ranger Energy Services, LLC (“Ranger Services”) and Torrent Energy Services, LLC (“Torrent Services”), and the other 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, its subsidiaries, and Torrent Services’ business and consolidates the financial results of Ranger Services, its subsidiaries, and Torrent Services.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The unaudited Condensed Consolidated Financial Statements of the Company 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 information and disclosures 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 our audited consolidated financial statements and related notes included in the Annual Report. Interim results for the periods presented may not be indicative of results that will be realized for future periods. We have made certain reclassifications to our prior period operating expense amounts for year-over-year comparability purposes. 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; • Impairment of property and equipment and intangible assets; • Revenue recognition; • Income taxes; and • Equity-based compensation. New Accounting Pronouncements Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology to reflect expected credit losses. The amendment requires the measurement of all expected credit losses for financial assets held at the reporting date to be performed based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for accounting contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference the London Interbank Offering Rate (“LIBOR”) or another reference rate expected to be discontinued due to the reference rate reform. ASU 2020-04 became effective as of March 12, 2020 and can be applied through December 31, 2022, recently amended by ASU 2022-06 which has delayed the application date through December 31, 2024. 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 Consolidated Financial Statements.

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Note 3 — 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 related to excess assets acquired from the Basic Energy Services, Inc. (“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. As of June 30, 2023, the Company classified $0.6 million and $0.4 million of land and buildings within our High Specification Rigs and Processing Solutions and Ancillary Services segments, respectively, as held for sale as they are being actively marketed.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Note 4 — Property and Equipment, Net Property and equipment, net include the following (in millions): Estimated Useful Life June 30, 2023 December 31, 2022 High specification rigs 15 $ 138.0 $ 138.0 Machinery and equipment 3 - 30 180.1 179.3 Vehicles 3 - 15 49.0 46.9 Other property and equipment 5 - 25 19.7 21.3 Property and equipment 386.8 385.5 Less: accumulated depreciation (178.4) (167.2) Construction in progress 10.4 3.3 Property and equipment, net $ 218.8 $ 221.6 Depreciation expense was $8.5 million and $11.3 million for the three months ended June 30, 2023 and 2022, respectively and $18.3 million and $22.7 million for the six months ended June 30, 2023 and 2022. For the six months ended June 30, 2023, the Company reclassified $5.7 million of property and equipment to Assets held for sale.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 5 — Intangible Assets, Net Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life June 30, 2023 December 31, 2022 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (4.7) (4.3) Intangible assets, net $ 6.7 $ 7.1 Amortization expense was $0.2 million and $0.1 million for the three months ended June 30, 2023 and 2022, respectively and $0.4 million and $0.3 million for the six months ended June 30, 2023 and 2022. Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending June 30, Amount 2024 $ 0.7 2025 0.7 2026 0.7 2027 0.7 2028 0.7 Thereafter 3.2 Total $ 6.7

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Note 6 — Accrued Expenses Accrued expenses include the following (in millions): June 30, 2023 December 31, 2022 Accrued payables $ 12.9 $ 15.9 Accrued compensation 14.4 12.5 Accrued taxes 3.2 2.1 Accrued insurance 0.6 5.6 Accrued expenses $ 31.1 $ 36.1

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Note 7 — 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Short-term lease costs $ 4.3 $ 3.6 $ 9.6 $ 6.7 Operating lease costs $ 0.8 $ 0.5 $ 1.6 $ 1.1 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 1.6 $ 1.2 Weighted average remaining lease term 4.0 years 4.8 years Weighted average discount rate 8.1 % 9.0 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 3.2 2025 3.3 2026 3.0 2027 2.6 2028 0.6 Total future minimum lease payments 12.7 Less: amount representing interest (1.9) Present value of future minimum lease payments 10.8 Less: current portion of operating lease obligations (2.4) Long-term portion of operating lease obligations $ 8.4 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Amortization of finance leases $ 0.9 $ 0.5 $ 1.7 $ 1.0 Interest on lease liabilities $ 0.3 $ 0.3 $ 0.6 $ 0.4 Financing cash outflows from finance leases $ 1.4 $ 1.1 $ 2.7 $ 2.3 Weighted average remaining lease term 2.0 years 1.4 years Weighted average discount rate 4.7 % 2.3 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 4.5 2025 2.8 2026 1.4 2027 0.6 Total future minimum lease payments 9.3 Less: amount representing interest (0.9) Present value of future minimum lease payments 8.4 Less: current portion of finance lease obligations (4.0) Long-term portion of finance lease obligations $ 4.4 Note 8 — Other Financing Liabilities The Company has sale, lease-back agreements for land and certain other fixed assets with terms that vary from 18 months to 13 years. The 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 June 30, 2023, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.6 2025 0.6 2026 0.7 2027 0.8 2028 0.8 Thereafter 8.4 Total future minimum lease payments $ 11.9
Leases	Note 7 — 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Short-term lease costs $ 4.3 $ 3.6 $ 9.6 $ 6.7 Operating lease costs $ 0.8 $ 0.5 $ 1.6 $ 1.1 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 1.6 $ 1.2 Weighted average remaining lease term 4.0 years 4.8 years Weighted average discount rate 8.1 % 9.0 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 3.2 2025 3.3 2026 3.0 2027 2.6 2028 0.6 Total future minimum lease payments 12.7 Less: amount representing interest (1.9) Present value of future minimum lease payments 10.8 Less: current portion of operating lease obligations (2.4) Long-term portion of operating lease obligations $ 8.4 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Amortization of finance leases $ 0.9 $ 0.5 $ 1.7 $ 1.0 Interest on lease liabilities $ 0.3 $ 0.3 $ 0.6 $ 0.4 Financing cash outflows from finance leases $ 1.4 $ 1.1 $ 2.7 $ 2.3 Weighted average remaining lease term 2.0 years 1.4 years Weighted average discount rate 4.7 % 2.3 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 4.5 2025 2.8 2026 1.4 2027 0.6 Total future minimum lease payments 9.3 Less: amount representing interest (0.9) Present value of future minimum lease payments 8.4 Less: current portion of finance lease obligations (4.0) Long-term portion of finance lease obligations $ 4.4

Other Financing Liabilities

Other Financing Liabilities	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Other Financing Liabilities	Note 7 — Leases Operating Leases The Company has operating leases, primarily for real estate and equipment, with terms that vary from 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Short-term lease costs $ 4.3 $ 3.6 $ 9.6 $ 6.7 Operating lease costs $ 0.8 $ 0.5 $ 1.6 $ 1.1 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 1.6 $ 1.2 Weighted average remaining lease term 4.0 years 4.8 years Weighted average discount rate 8.1 % 9.0 % Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 3.2 2025 3.3 2026 3.0 2027 2.6 2028 0.6 Total future minimum lease payments 12.7 Less: amount representing interest (1.9) Present value of future minimum lease payments 10.8 Less: current portion of operating lease obligations (2.4) Long-term portion of operating lease obligations $ 8.4 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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Amortization of finance leases $ 0.9 $ 0.5 $ 1.7 $ 1.0 Interest on lease liabilities $ 0.3 $ 0.3 $ 0.6 $ 0.4 Financing cash outflows from finance leases $ 1.4 $ 1.1 $ 2.7 $ 2.3 Weighted average remaining lease term 2.0 years 1.4 years Weighted average discount rate 4.7 % 2.3 % Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 4.5 2025 2.8 2026 1.4 2027 0.6 Total future minimum lease payments 9.3 Less: amount representing interest (0.9) Present value of future minimum lease payments 8.4 Less: current portion of finance lease obligations (4.0) Long-term portion of finance lease obligations $ 4.4 Note 8 — Other Financing Liabilities The Company has sale, lease-back agreements for land and certain other fixed assets with terms that vary from 18 months to 13 years. The 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 June 30, 2023, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.6 2025 0.6 2026 0.7 2027 0.8 2028 0.8 Thereafter 8.4 Total future minimum lease payments $ 11.9

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Note 9 — Debt The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): June 30, 2023 December 31, 2022 Wells Fargo Revolving Credit Facility $ — $ — Eclipse Revolving Credit Facility — 1.4 Eclipse M&E Term Loan, net — 10.4 Secured Promissory Note — 6.1 Installment Purchases 0.3 0.5 Total Debt 0.3 18.4 Current portion of long-term debt (0.3) (6.8) Long term-debt, net $ — $ 11.6 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”). During the three and six months ended June 30, 2023, the Company recognized a loss on the retirement of debt of $2.4 million, as the Revolving Credit Facility, M&E Loan Facility and Term Loan B Facility were extinguished in connection with the initiation of the Wells Fargo Revolving Credit Facility, which is described further below. Revolving Credit Facility Borrowings under the Revolving Credit Facility bore interest at a rate per annum ranging from 4.5% to 5% in excess of SOFR and 3.5% to 4% in excess of the Base Rate, dependent on the fixed cost coverage ratio. The year to date weighted average interest rate on borrowings was approximately 9.4% through the extinguishment date of May 31, 2023. M&E Term Loan Facility Borrowings under the M&E Term Loan Facility bore interest at a rate per annum equal to 8% in excess of the SOFR Rate and 7% in excess of the Base Rate. The weighted average interest rate for the M&E Term Loan Facility was 13.0% through the maturity date of May 31, 2023. On May 31, 2023, the remaining balance of the loan was $8.4 million, which was paid utilizing funds from the Wells Fargo Revolving Credit Facility. Term Loan B Facility Borrowings under Term Loan B Facility bore interest at a rate per annum equal to 12% in excess of the SOFR Rate and 11% in excess of the Base Rate. Term Loan B Facility was scheduled to mature in September 2022 and the remaining balance of $0.3 million was fully repaid on August 16, 2022. The weighted average interest rate for Term Loan B was 13.0% through the maturity date of August 16, 2022. Secured Promissory Note On July 8, 2021, the Company acquired the assets of PerfX Wireline Services (“PerfX”), a provider of wireline services that operated in Williston, North Dakota and Midland, Texas. In connection with the PerfX acquisition, 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 (the “Secured Promissory Note”). Borrowings under the Secured Promissory Note bore interest at a rate of 8.5% per annum and was scheduled to mature in January 2024. On May 31, 2023, the remaining balance of the loan was $5.4 million, which was repaid utilizing funds from the Wells Fargo Revolving Credit Facility. Wells Fargo Bank, N.A. Credit Agreement On May 31, 2023, the Company entered into a Credit Agreement with Wells Fargo Bank, N.A., providing the Company with a secured credit facility (“Wells Fargo Revolving Credit Facility”) in an aggregate principal amount of $75 million. Debt under the Credit Agreement is secured by a lien on substantially all of the Company’s assets. The Company was in compliance with the Credit Agreement covenant by maintaining a fixed charge coverage ratio of greater than 1.0 as of June 30, 2023. The Wells Fargo Revolving Credit Facility was drawn in part on May 31, 2023, to repay the Revolving Credit Facility, M&E Term Loan Facility, and the Secured Promissory Note. The undrawn portion of the Wells Fargo 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 Wells Fargo 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 Wells Fargo Revolving Credit Facility, which is scheduled to mature on May 31, 2028. The Wells Fargo Revolving Credit Facility includes an acceleration clause with tiered triggers starting when excess availability is 20% or less. Cash dominion, which 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, will be instituted if excess availability is 12.5% or less. Under the Wells Fargo Revolving Credit Facility, the total loan capacity was $64.3 million, which was based on a borrowing base certificate in effect as of June 30, 2023. The Company did not have any borrowings under the Wells Fargo Revolving Credit Facility. The Company does have a $1.6 million Letter of Credit open under the facility, leaving a residual $62.7 million available for borrowings as of June 30, 2023. Borrowings under the Revolving Credit Facility bear interest at a rate per annum ranging from 1.75% to 2.25% in excess of SOFR and 0.75% to 1.25% in excess of the Base Rate, dependent on the average excess availability. The weighted average interest rate for the loan was approximately 6.9% for the six months ended June 30, 2023. Other Installment Purchases The Company entered into various Installment and Security Agreements (collectively, the “Installment Agreements”) in connection with the purchase of certain ancillary equipment, where such assets are being held as collateral. As of June 30, 2023, the aggregate principal balance outstanding under the Installment Agreements was $0.3 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 June 30, 2023, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.3 Total $ 0.3

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Note 10 — Equity Equity-Based Compensation In 2017, the Company adopted the Ranger Energy Services, Inc. 2017 Long Term Incentive Plan (the “2017 Plan”). The Company has granted shares of restricted stock (“restricted shares” or “RSAs”) and performance-based restricted stock units (“performance stock units” or “PSUs”) under the 2017 Plan. Restricted Stock Awards The Company has granted RSAs, which generally vest in three equal annual installments beginning on the first anniversary date of the grant. During the six months ended June 30, 2022, the Company granted approximately 388,300 RSAs, with an approximated aggregate value of $4.2 million. As of June 30, 2023, there was an aggregate $5.9 million of unrecognized expense related to restricted shares issued which is expected to be recognized over a weighted average period of 1.9 years. Performance Stock Units The performance criteria applicable to performance stock units that have been granted by the Company are based on relative total shareholder return, which measures the Company’s total shareholder return as compared to the total shareholder return of a designated peer group, and absolute total shareholder return. Generally, the performance stock units are subject to an approximated three-year performance period. During the six months ended June 30, 2023, the Company granted approximately 100,400 target shares of market-based performance stock units, of which 55,200 were granted at a relative grant date fair value of approximately $15.71 per share and 55,200 were granted at an absolute grant date fair value of approximately and $13.12 per share. Additionally, the Company granted approximately 55,200 target shares of market-based performance stock units with a specified floor price per share, of which 27,600 were granted a relative grant date fair value of approximately $15.22 and 27,600 were granted at an absolute grant date fair value of approximately and $10.85 per share. Shares granted during the six months ended June 30, 2023 are expected to vest (if at all) following the completion of the applicable performance period on December 31, 2025. As of June 30, 2023, there was an aggregate $2.8 million of unrecognized compensation cost related to performance stock units which are expected to be recognized over a weighted average period of 1.7 years. Share Repurchases On March 7, 2023, the Company announced a share repurchase program allowing the Company to purchase Class A Common Stock held by non-affiliates, not to exceed $35.0 million in aggregate value. Share repurchases may take place in any transaction form as allowable by the Securities and Exchange Commission. Approval of the program by the Board of Directors of the Company is specific for the next 36 months. During the three and six months ended June 30, 2023, the Company repurchased 508,700 and 548,100 shares, respectively, of the Company’s Class A Common Stock for an aggregate $5.5 million and $5.9 million, respectively, on the open market. Warrant from PerfX Acquisition The PerfX acquisition purchase price included 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; however, 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 June 30, 2023. The Company finalized the purchase price allocation in the fourth quarter of 2021.

Risk Concentrations

Risk Concentrations	6 Months Ended
	Jun. 30, 2023
Risk Concentrations
Risk Concentrations	Note 11 — Risk Concentrations Customer Concentrations During the three and six months ended June 30, 2023, one customer accounted for approximately 11% and 10%, respectively, of the Company’s consolidated revenues. As of June 30, 2023, approximately 6% of the net accounts receivable balance was due from this customer. During the three months ended June 30, 2022, two customers accounted for approximately 11% and 10% each of the Company’s consolidated revenue. During the six months ended June 30, 2022, two customers accounted for approximately 11% and 10%, respectively, of the Company’s consolidated revenue. As of June 30, 2022, approximately 27% of the net accounts receivable balance, in aggregate, was due from these two customers.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 12 — Income Taxes Effective Tax Rate 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, excluding the impact of discrete items, applicable to the Company for the six months ended June 30, 2023 and 2022 was 23.8% and 29.4%, 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. Tax Attributes Historically, utilization of a portion of the Company's net operating loss carryforwards has been subject to limitations of utilization under Section 382 of the Internal Revenue Code of 1986 (“Section 382”), as amended. The Company incurred an ownership change, triggering another Section 382 loss limitation, during the three months ended June 30, 2023. The Company is currently in the process of conducting an analysis to determine the full tax consequence of such limitation and does not expect this will have a material cash impact to taxes for the remainder of 2023. 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. The Company currently believes that it is reasonably possible to achieve a three-year cumulative level of profitability within the next 12 months, and as early as the third quarter of 2023, which would enhance the ability to conclude that is it more likely than not that the deferred tax assets would be realized and support a release of a portion or substantially all of the VA. A release of the VA would result in the recognition of an increase in deferred tax assets and an income tax benefit in the period in which the release occurs, although the exact timing and amount of the release is subject to change based on numerous factors, including projections of future taxable income, which continues to be assessed based on available information each reporting period. Other Tax Matters Total income tax expense for the six months ended June 30, 2023 and 2022 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 VA on deferred tax assets, the impact of permanently non-deductible expenses, state income taxes and certain discrete tax benefits recognized during the six months ended June 30, 2023. The Company is subject to the following material taxing jurisdictions: the United States and Texas. As of June 30, 2023, 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 2022. The Company has evaluated all tax positions for which the statute of limitations remains open and believes that the material positions taken would more likely than not be sustained upon examination. Therefore, as of June 30, 2023, the Company had not established any reserves for, nor recorded any unrecognized benefits related to, uncertain tax positions. In August 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA 2022”) (Public Law Number 117-169) into law. The Company is still evaluating the impact of this legislation as it relates to the Employee Retention Credit.

Earnings (loss) per Share

Earnings (loss) per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings (loss) per Share	Note 13 — 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Income (loss) (numerator): Basic: Income (loss) attributable to Ranger Energy Services, Inc. $ 6.1 $ (0.4) $ 12.3 $ (6.1) Net income (loss) attributable to Class A Common Stock $ 6.1 $ (0.4) $ 12.3 $ (6.1) Diluted: Income (loss) attributable to Ranger Energy Services, Inc. $ 6.1 $ (0.4) $ 12.3 $ (6.1) Net income (loss) attributable to Class A Common Stock $ 6.1 $ (0.4) $ 12.3 $ (6.1) Weighted average shares (denominator): Weighted average number of shares - basic 24,840,569 23,581,466 24,890,178 21,041,300 Effect of share-based awards 347,554 — 358,848 — Weighted average number of shares - diluted 25,188,123 23,581,466 25,249,026 21,041,300 Basic income (loss) per share $ 0.25 $ (0.02) $ 0.49 $ (0.29) Diluted income (loss) per share $ 0.24 $ (0.02) $ 0.49 $ (0.29) During the three and six months ended June 30, 2022, the Company excluded 1.0 million of equity-based awards, as the effect was anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 — Commitments and Contingencies Legal Matters From time to time, the Company is involved in various legal matters arising in the normal course of business. The Company does not believe that the ultimate resolution of these currently pending matters will have a material adverse effect on its condensed consolidated financial position or results of operations.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segment Reporting	Note 15 — Segment Reporting The Company’s operations are located in the United States and organized into three reportable segments: High Specification Rigs, 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 stage 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 for the six months ended June 30, 2023 and 2022 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended June 30, 2023 Revenue $ 77.6 $ 54.5 $ 31.1 $ — $ 163.2 Cost of services 62.0 48.8 25.5 — 136.3 Depreciation and amortization 4.1 2.9 1.4 0.3 8.7 Operating income (loss) 11.5 2.8 4.2 (7.1) 11.4 Net income (loss) $ 11.5 $ 2.8 $ 4.2 $ (12.4) $ 6.1 Capital expenditures $ 3.7 $ 3.2 $ 2.8 $ — $ 9.7 Six Months Ended June 30, 2023 Revenue $ 155.1 $ 104.4 $ 61.2 $ — $ 320.7 Cost of services 122.1 94.5 50.6 — 267.2 Depreciation and amortization 9.6 5.3 3.0 0.8 18.7 Operating income (loss) 23.4 4.6 7.6 (15.0) 20.6 Net income (loss) $ 23.4 $ 4.6 $ 7.6 $ (23.3) $ 12.3 Capital expenditures $ 5.8 $ 4.5 $ 7.1 $ — $ 17.4 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended June 30, 2022 Revenue $ 76.0 $ 49.5 $ 28.1 $ — $ 153.6 Cost of services 61.8 45.2 23.0 — 130.0 Depreciation and amortization 8.1 2.8 — 0.5 11.4 Operating income (loss) 6.1 1.5 5.1 (14.9) (2.2) Gain on bargain purchase $ — $ — $ — $ (2.8) $ (2.8) Net income (loss) $ 6.1 $ 1.5 $ 5.1 $ (13.1) $ (0.4) Capital expenditures $ 1.7 $ 0.7 $ 2.9 $ — $ 5.3 Six Months Ended June 30, 2022 Revenue $ 140.9 $ 88.1 $ 48.2 $ — $ 277.2 Cost of services 112.6 85.6 39.8 — 238.0 Depreciation and amortization 14.5 5.5 2.0 1.0 23.0 Operating income (loss) 13.8 (3.0) 6.4 (24.6) (7.4) Gain on bargain purchase $ — $ — $ — $ (2.8) $ (2.8) Net income (loss) $ 13.8 $ (3.0) $ 6.4 $ (23.3) $ (6.1) Capital expenditures $ 2.9 $ 1.6 $ 3.2 $ — $ 7.7

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to July 31, 2023. Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements. On August 7, 2023, the Board of Directors declared a quarterly cash dividend of $0.05 per share payable September 8, 2023 to common stockholders of record at the close of business on August 18, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Condensed Consolidated Financial Statements of the Company 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 information and disclosures 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 our audited consolidated financial statements and related notes included in the Annual Report. Interim results for the periods presented may not be indicative of results that will be realized for future periods. We have made certain reclassifications to our prior period operating expense amounts for year-over-year comparability purposes. 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.
Use of Estimates	Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. Management uses historical and other pertinent information to determine these estimates. Actual results could differ from such estimates. Areas where critical accounting estimates are made by management include: • Depreciation and amortization of property and equipment and intangible assets; • Impairment of property and equipment and intangible assets; • Revenue recognition; • Income taxes; and • Equity-based compensation.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology to reflect expected credit losses. The amendment requires the measurement of all expected credit losses for financial assets held at the reporting date to be performed based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for accounting contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference the London Interbank Offering Rate (“LIBOR”) or another reference rate expected to be discontinued due to the reference rate reform. ASU 2020-04 became effective as of March 12, 2020 and can be applied through December 31, 2022, recently amended by ASU 2022-06 which has delayed the application date through December 31, 2024. 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 Consolidated Financial Statements.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment, net include the following (in millions): Estimated Useful Life June 30, 2023 December 31, 2022 High specification rigs 15 $ 138.0 $ 138.0 Machinery and equipment 3 - 30 180.1 179.3 Vehicles 3 - 15 49.0 46.9 Other property and equipment 5 - 25 19.7 21.3 Property and equipment 386.8 385.5 Less: accumulated depreciation (178.4) (167.2) Construction in progress 10.4 3.3 Property and equipment, net $ 218.8 $ 221.6

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of definite lived intangible assets	Definite lived intangible assets are comprised of the following (in millions): Estimated Useful Life June 30, 2023 December 31, 2022 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (4.7) (4.3) Intangible assets, net $ 6.7 $ 7.1
Schedule of aggregated amortization expense for future periods	Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending June 30, Amount 2024 $ 0.7 2025 0.7 2026 0.7 2027 0.7 2028 0.7 Thereafter 3.2 Total $ 6.7

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses include the following (in millions): June 30, 2023 December 31, 2022 Accrued payables $ 12.9 $ 15.9 Accrued compensation 14.4 12.5 Accrued taxes 3.2 2.1 Accrued insurance 0.6 5.6 Accrued expenses $ 31.1 $ 36.1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
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 six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Short-term lease costs $ 4.3 $ 3.6 $ 9.6 $ 6.7 Operating lease costs $ 0.8 $ 0.5 $ 1.6 $ 1.1 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 1.6 $ 1.2 Weighted average remaining lease term 4.0 years 4.8 years Weighted average discount rate 8.1 % 9.0 % Lease costs and other information related to finance leases for the six months ended June 30, 2023 and 2022, are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Amortization of finance leases $ 0.9 $ 0.5 $ 1.7 $ 1.0 Interest on lease liabilities $ 0.3 $ 0.3 $ 0.6 $ 0.4 Financing cash outflows from finance leases $ 1.4 $ 1.1 $ 2.7 $ 2.3 Weighted average remaining lease term 2.0 years 1.4 years Weighted average discount rate 4.7 % 2.3 %
Schedule of future minimum leases payments for operating leases	Aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 3.2 2025 3.3 2026 3.0 2027 2.6 2028 0.6 Total future minimum lease payments 12.7 Less: amount representing interest (1.9) Present value of future minimum lease payments 10.8 Less: current portion of operating lease obligations (2.4) Long-term portion of operating lease obligations $ 8.4
Schedule of future minimum leases payments for finances leases	Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 4.5 2025 2.8 2026 1.4 2027 0.6 Total future minimum lease payments 9.3 Less: amount representing interest (0.9) Present value of future minimum lease payments 8.4 Less: current portion of finance lease obligations (4.0) Long-term portion of finance lease obligations $ 4.4 As of June 30, 2023, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.6 2025 0.6 2026 0.7 2027 0.8 2028 0.8 Thereafter 8.4 Total future minimum lease payments $ 11.9

Other Financing Liabilities (Ta

Other Financing Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of future minimum leases payments for finances leases	Aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 4.5 2025 2.8 2026 1.4 2027 0.6 Total future minimum lease payments 9.3 Less: amount representing interest (0.9) Present value of future minimum lease payments 8.4 Less: current portion of finance lease obligations (4.0) Long-term portion of finance lease obligations $ 4.4 As of June 30, 2023, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.6 2025 0.6 2026 0.7 2027 0.8 2028 0.8 Thereafter 8.4 Total future minimum lease payments $ 11.9

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt	The aggregate carrying amounts, net of issuance costs, of the Company’s debt consists of the following (in millions): June 30, 2023 December 31, 2022 Wells Fargo Revolving Credit Facility $ — $ — Eclipse Revolving Credit Facility — 1.4 Eclipse M&E Term Loan, net — 10.4 Secured Promissory Note — 6.1 Installment Purchases 0.3 0.5 Total Debt 0.3 18.4 Current portion of long-term debt (0.3) (6.8) Long term-debt, net $ — $ 11.6
Schedule of future payments	As of June 30, 2023, aggregate future principal payments of total debt are as follows (in millions): For the twelve months ending June 30, Total 2024 $ 0.3 Total $ 0.3

Earnings (loss) per Share (Tabl

Earnings (loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Income (loss) (numerator): Basic: Income (loss) attributable to Ranger Energy Services, Inc. $ 6.1 $ (0.4) $ 12.3 $ (6.1) Net income (loss) attributable to Class A Common Stock $ 6.1 $ (0.4) $ 12.3 $ (6.1) Diluted: Income (loss) attributable to Ranger Energy Services, Inc. $ 6.1 $ (0.4) $ 12.3 $ (6.1) Net income (loss) attributable to Class A Common Stock $ 6.1 $ (0.4) $ 12.3 $ (6.1) Weighted average shares (denominator): Weighted average number of shares - basic 24,840,569 23,581,466 24,890,178 21,041,300 Effect of share-based awards 347,554 — 358,848 — Weighted average number of shares - diluted 25,188,123 23,581,466 25,249,026 21,041,300 Basic income (loss) per share $ 0.25 $ (0.02) $ 0.49 $ (0.29) Diluted income (loss) per share $ 0.24 $ (0.02) $ 0.49 $ (0.29)

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of segment information	Certain segment information for the six months ended June 30, 2023 and 2022 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended June 30, 2023 Revenue $ 77.6 $ 54.5 $ 31.1 $ — $ 163.2 Cost of services 62.0 48.8 25.5 — 136.3 Depreciation and amortization 4.1 2.9 1.4 0.3 8.7 Operating income (loss) 11.5 2.8 4.2 (7.1) 11.4 Net income (loss) $ 11.5 $ 2.8 $ 4.2 $ (12.4) $ 6.1 Capital expenditures $ 3.7 $ 3.2 $ 2.8 $ — $ 9.7 Six Months Ended June 30, 2023 Revenue $ 155.1 $ 104.4 $ 61.2 $ — $ 320.7 Cost of services 122.1 94.5 50.6 — 267.2 Depreciation and amortization 9.6 5.3 3.0 0.8 18.7 Operating income (loss) 23.4 4.6 7.6 (15.0) 20.6 Net income (loss) $ 23.4 $ 4.6 $ 7.6 $ (23.3) $ 12.3 Capital expenditures $ 5.8 $ 4.5 $ 7.1 $ — $ 17.4 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended June 30, 2022 Revenue $ 76.0 $ 49.5 $ 28.1 $ — $ 153.6 Cost of services 61.8 45.2 23.0 — 130.0 Depreciation and amortization 8.1 2.8 — 0.5 11.4 Operating income (loss) 6.1 1.5 5.1 (14.9) (2.2) Gain on bargain purchase $ — $ — $ — $ (2.8) $ (2.8) Net income (loss) $ 6.1 $ 1.5 $ 5.1 $ (13.1) $ (0.4) Capital expenditures $ 1.7 $ 0.7 $ 2.9 $ — $ 5.3 Six Months Ended June 30, 2022 Revenue $ 140.9 $ 88.1 $ 48.2 $ — $ 277.2 Cost of services 112.6 85.6 39.8 — 238.0 Depreciation and amortization 14.5 5.5 2.0 1.0 23.0 Operating income (loss) 13.8 (3.0) 6.4 (24.6) (7.4) Gain on bargain purchase $ — $ — $ — $ (2.8) $ (2.8) Net income (loss) $ 13.8 $ (3.0) $ 6.4 $ (23.3) $ (6.1) Capital expenditures $ 2.9 $ 1.6 $ 3.2 $ — $ 7.7

Organization and Business Ope_2

Organization and Business Operations (Details)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Assets Held for Sale (Details)

Assets Held for Sale (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale - Land and Building $ in Millions	Jun. 30, 2023 USD ($)
High specification rigs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment	$ 0.6
Processing solutions and ancillary services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant and equipment	$ 0.4

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment, Net
Property and equipment	$ 386.8		$ 386.8		$ 385.5
Less: accumulated depreciation	(178.4)		(178.4)		(167.2)
Construction in progress	10.4		10.4		3.3
Property and equipment, net	218.8		218.8		221.6
Depreciation expense	$ 8.5	$ 11.3	18.3	$ 22.7
Change in assets held for sale			$ 5.7
High specification rigs
Property, Plant and Equipment, Net
Estimated Useful Life (years)	15 years		15 years
Property and equipment	$ 138		$ 138		138
Machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	180.1		180.1		179.3
Vehicles
Property, Plant and Equipment, Net
Property and equipment	49		49		46.9
Other property and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 19.7		$ 19.7		$ 21.3
Minimum | Machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	3 years		3 years
Minimum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life (years)	3 years		3 years
Minimum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	5 years		5 years
Maximum | Machinery and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	30 years		30 years
Maximum | Vehicles
Property, Plant and Equipment, Net
Estimated Useful Life (years)	15 years		15 years
Maximum | Other property and equipment
Property, Plant and Equipment, Net
Estimated Useful Life (years)	25 years		25 years

Intangible Assets, Net - Intang

Intangible Assets, Net - Intangibles (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Intangible assets
Less: accumulated amortization	$ (4.7)	$ (4.3)
Intangible assets, net	6.7	7.1
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, Net - Narrat

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.2	$ 0.1	$ 0.4	$ 0.3

Intangible Assets, Net - Amorti

Intangible Assets, Net - Amortization (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 0.7
2025	0.7
2026	0.7
2027	0.7
2028	0.7
Thereafter	3.2
Intangible assets, net	$ 6.7	$ 7.1

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued payables	$ 12.9	$ 15.9
Accrued compensation	14.4	12.5
Accrued taxes	3.2	2.1
Accrued insurance	0.6	5.6
Accrued expenses	$ 31.1	$ 36.1

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 30, 2023
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 Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Short-term lease costs	$ 4.3	$ 3.6	$ 9.6	$ 6.7
Operating lease costs	0.8	0.5	1.6	1.1
Operating cash outflows from operating leases	$ 0.8	$ 0.7	$ 1.6	$ 1.2
Weighted average remaining lease term	4 years	4 years 9 months 18 days	4 years	4 years 9 months 18 days
Weighted average discount rate	8.10%	9%	8.10%	9%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2024	$ 3.2
2025	3.3
2026	3
2027	2.6
2028	0.6
Total future minimum lease payments	12.7
Less: amount representing interest	(1.9)
Present value of future minimum lease payments	10.8
Less: current portion of operating lease obligations	(2.4)
Long-term portion of operating lease obligations	8.4	$ 9.6
Finance Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2024	4.5
2025	2.8
2026	1.4
2027	0.6
Total future minimum lease payments	9.3
Less: amount representing interest	(0.9)
Present value of future minimum lease payments	8.4
Less: current portion of finance lease obligations	(4)
Long-term portion of finance lease obligations	$ 4.4
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Other long-term liabilities
Finance lease, liability, current, statement of financial position [Extensible Enumeration]	Other current liabilities
Finance lease, liability, statement of financial position [Extensible Enumeration]	Other current liabilities, Other long-term liabilities

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Information Related to Financing Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Amortization of finance leases	$ 0.9	$ 0.5	$ 1.7	$ 1
Interest on lease liabilities	0.3	0.3	0.6	0.4
Financing cash outflows from finance leases	$ 1.4	$ 1.1	$ 2.7	$ 2.3
Weighted average remaining lease term	2 years	1 year 4 months 24 days	2 years	1 year 4 months 24 days
Weighted average discount rate	4.70%	2.30%	4.70%	2.30%

Other Financing Liabilities - N

Other Financing Liabilities - Narrative (Details) - Other Fixed Asset	6 Months Ended
	Jun. 30, 2023
Minimum
Lessee, Lease, Description [Line Items]
Payment terms	18 months
Maximum
Lessee, Lease, Description [Line Items]
Payment terms	13 years

Other Financing Liabilities (De

Other Financing Liabilities (Details) - Building $ in Millions	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
2024	$ 0.6
2025	0.6
2026	0.7
2027	0.8
2028	0.8
Thereafter	8.4
Total future minimum lease payments	$ 11.9

Debt - Summary of Debt Outstand

Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total Debt	$ 0.3	$ 18.4
Current portion of long-term debt	(0.3)	(6.8)
Long term-debt, net	0	11.6
Secured Promissory Note
Debt Instrument [Line Items]
Total Debt	0	6.1
Installment Purchases
Debt Instrument [Line Items]
Total Debt	0.3	0.5
Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt	0	0
Eclipse Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt	0	1.4
Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Total Debt	$ 0	$ 10.4

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)				3 Months Ended		6 Months Ended
	May 31, 2023	Aug. 16, 2022	Oct. 01, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Sep. 27, 2021
Debt Instrument [Line Items]
Loss on debt retirement				$ 2,400,000	$ 0	$ 2,400,000	$ 0
Remaining principal balance				$ 300,000		$ 300,000		$ 18,400,000
Installment Purchases
Debt Instrument [Line Items]
Debt term				36 months		36 months
Installment Purchases | Secured Promissory Note
Debt Instrument [Line Items]
Exercise of right to stop payments on remaining principal balance, amount	$ 5,400,000
Interest rate (as a percent)				8.50%		8.50%
Installment Purchases
Debt Instrument [Line Items]
Remaining principal balance				$ 300,000		$ 300,000		500,000
EBC Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings									$ 77,500,000
Eclipse Revolving Credit Facility
Debt Instrument [Line Items]
Remaining principal balance				0		$ 0		1,400,000
Eclipse Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings									50,000,000
Eclipse Revolving Credit Facility | Line of Credit | SOFR
Debt Instrument [Line Items]
Weighted average interest rate (as a percent)	9.40%
Eclipse Revolving Credit Facility | Line of Credit | Minimum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						4.50%
Eclipse Revolving Credit Facility | Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)						3.50%
Eclipse Revolving Credit Facility | Line of Credit | Maximum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						5%
Eclipse Revolving Credit Facility | Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)						4%
Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Remaining principal balance				0		$ 0		10,400,000
Eclipse M&E Term Loan, net | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings									12,500,000
Weighted average interest rate (as a percent)	13%
Exercise of right to stop payments on remaining principal balance, amount	$ 8,400,000
Eclipse M&E Term Loan, net | Line of Credit | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						8%
Eclipse M&E Term Loan, net | Line of Credit | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)						7%
Term Loan B Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings									$ 15,000,000
Weighted average interest rate (as a percent)		13%
Exercise of right to stop payments on remaining principal balance, amount		$ 300,000
Term Loan B Facility | Line of Credit | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)			12%
Term Loan B Facility | Line of Credit | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)			11%
Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Remaining principal balance				0		$ 0		$ 0
Wells Fargo Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings	$ 75,000,000			$ 64,300,000		$ 64,300,000
Weighted average interest rate (as a percent)				6.90%		6.90%
Covenant fixed charge coverage ratio				1		1
Remaining principal balance				$ 0		$ 0
Remaining borrowing				62,700,000		$ 62,700,000
Wells Fargo Revolving Credit Facility | Line of Credit | Scenario 1
Debt Instrument [Line Items]
Excess availability percentage	20%
Wells Fargo Revolving Credit Facility | Line of Credit | Scenario 2
Debt Instrument [Line Items]
Excess availability percentage	12.50%
Wells Fargo Revolving Credit Facility | Line of Credit | Minimum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						1.75%
Wells Fargo Revolving Credit Facility | Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)						0.75%
Wells Fargo Revolving Credit Facility | Line of Credit | Maximum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)						2.25%
Wells Fargo Revolving Credit Facility | Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)						1.25%
Credit facility | Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding				$ 1,600,000		$ 1,600,000

Debt - Schedule of Future Payme

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

Equity (Details)

Equity (Details)		3 Months Ended	6 Months Ended
	Mar. 07, 2023 USD ($)	Jun. 30, 2023 USD ($) installment shares	Jun. 30, 2023 USD ($) installment $ / shares shares	Jun. 30, 2022 USD ($) shares	Jul. 09, 2031	Jul. 08, 2031
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount | $	$ 35,000,000
Duration of share repurchase program	36 months
Subsequent event | PerfX Wireline Services, LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership (in percent)					15%	30%
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during the period (in shares)		508,700	548,100
Repurchase of Class A Common Stock | $		$ 5,500,000	$ 5,900,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equal annual installments | installment		3	3
Granted shares issued (in shares)				388,300
Value of shares granted | $				$ 4,200,000
Unrecognized expense related to restricted shares issued | $		$ 5,900,000	$ 5,900,000
Weighted average period			1 year 10 months 24 days
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			100,400
Unrecognized expense related to restricted shares issued | $		$ 2,800,000	$ 2,800,000
Weighted average period			1 year 8 months 12 days
Performance period			3 years
PSUs | Scenario 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			55,200
Performance Shares, Relative Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			55,200
Number of target shares granted to employees (in dollars per share) | $ / shares			$ 15.71
Performance Shares, Relative Grant Date | Scenario 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			27,600
Number of target shares granted to employees (in dollars per share) | $ / shares			$ 15.22
Performance Shares, Absolute Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			55,200
Number of target shares granted to employees (in dollars per share) | $ / shares			$ 13.12
Performance Shares, Absolute Grant Date | Scenario 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares)			27,600
Number of target shares granted to employees (in dollars per share) | $ / shares			$ 10.85

Risk Concentrations (Details)

Risk Concentrations (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue | Customer One
Customer Concentrations
Concentration risk (as a percent)	11%	11%	10%	11%
Revenue | Customers Two
Customer Concentrations
Concentration risk (as a percent)		10%		10%
Accounts Receivable | Customer One
Customer Concentrations
Concentration risk (as a percent)			6%
Accounts Receivable | Customer One and Customer Two
Customer Concentrations
Concentration risk (as a percent)				27%

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective federal income tax rate (as a percent)	23.80%	29.40%
Texas margin tax, maximum statutory effective rate	0.75%

Earnings (loss) per Share (Deta

Earnings (loss) per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic:
Income (loss) attributable to Ranger Energy Services, Inc.	$ 6.1	$ (0.4)	$ 12.3	$ (6.1)
Net income (loss) attributable to Class A Common Stock	6.1	(0.4)	12.3	(6.1)
Diluted:
Income (loss) attributable to Ranger Energy Services, Inc.	6.1	(0.4)	12.3	(6.1)
Net income (loss) attributable to Class A Common Stock	$ 6.1	$ (0.4)	$ 12.3	$ (6.1)
Weighted average shares (denominator):
Weighted average number of shares - basic (in shares)	24,840,569	23,581,466	24,890,178	21,041,300
Effect of share-based awards (in shares)	347,554	0	358,848	0
Weighted average number of shares - diluted (in shares)	25,188,123	23,581,466	25,249,026	21,041,300
Basic income (loss) per share (in dollars per share)	$ 0.25	$ (0.02)	$ 0.49	$ (0.29)
Diluted income (loss) per share (in dollars per share)	$ 0.24	$ (0.02)	$ 0.49	$ (0.29)
Equity-Based awards
Weighted average shares (denominator):
Antidilutive securities (in shares)		1,000,000		1,000,000

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Segment Reporting
Number of reportable segments | segment			3
Revenue	$ 163.2	$ 153.6	$ 320.7	$ 277.2
Cost of services	136.3	130	267.2	238
Depreciation and amortization	8.7	11.4	18.7	23
Operating income (loss)	11.4	(2.2)	20.6	(7.4)
Gain on bargain purchase	0	(2.8)	0	(2.8)
Net income (loss)	6.1	(0.4)	12.3	(6.1)
Capital expenditures	9.7	5.3	17.4	7.7
Operating Segments | High specification rigs
Segment Reporting
Revenue	77.6	76	155.1	140.9
Cost of services	62	61.8	122.1	112.6
Depreciation and amortization	4.1	8.1	9.6	14.5
Operating income (loss)	11.5	6.1	23.4	13.8
Gain on bargain purchase		0		0
Net income (loss)	11.5	6.1	23.4	13.8
Capital expenditures	3.7	1.7	5.8	2.9
Operating Segments | Wireline services
Segment Reporting
Revenue	54.5	49.5	104.4	88.1
Cost of services	48.8	45.2	94.5	85.6
Depreciation and amortization	2.9	2.8	5.3	5.5
Operating income (loss)	2.8	1.5	4.6	(3)
Gain on bargain purchase		0		0
Net income (loss)	2.8	1.5	4.6	(3)
Capital expenditures	3.2	0.7	4.5	1.6
Operating Segments | Processing solutions and ancillary services
Segment Reporting
Revenue	31.1	28.1	61.2	48.2
Cost of services	25.5	23	50.6	39.8
Depreciation and amortization	1.4	0	3	2
Operating income (loss)	4.2	5.1	7.6	6.4
Gain on bargain purchase		0		0
Net income (loss)	4.2	5.1	7.6	6.4
Capital expenditures	2.8	2.9	7.1	3.2
Segment Reconciling Items
Segment Reporting
Revenue	0	0	0	0
Cost of services	0	0	0	0
Depreciation and amortization	0.3	0.5	0.8	1
Operating income (loss)	(7.1)	(14.9)	(15)	(24.6)
Gain on bargain purchase		(2.8)		(2.8)
Net income (loss)	(12.4)	(13.1)	(23.3)	(23.3)
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Aug. 08, 2023 $ / shares
Subsequent event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.05