Ranger Energy Services (RNGR) 10-Q 28 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 23, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	2024
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		22,245,212
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, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 14.8	$ 15.7
Accounts receivable, net	81.9	85.4
Contract assets	23.7	17.7
Inventory	5.7	6.4
Prepaid expenses	6	9.6
Assets held for sale	0.6	0.6
Total current assets	132.7	135.4
Property and equipment, net	226.9	226.3
Intangible assets, net	5.8	6.3
Operating leases, right-of-use assets	7.7	9
Other assets	0.8	1
Total assets	373.9	378
Liabilities and Stockholders' Equity
Accounts payable	29.3	31.3
Accrued expenses	27.6	29.6
Other financing liability, current portion	0.7	0.6
Long-term debt, current portion	0	0.1
Short-term lease liability	8.2	7.3
Other current liabilities	0.7	0.1
Total current liabilities	66.5	69
Long-term lease liability	13.3	14.9
Other financing liability	10.5	11
Deferred tax liability	16	11.3
Total liabilities	106.3	106.2
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 September 30, 2024 and December 31, 2023	0	0
Less: Class A Common Stock held in treasury at cost; 3,877,628 treasury shares as of September 30, 2024 and 2,357,328 treasury shares as of December 31, 2023	(38.6)	(23.1)
Retained earnings	37.5	28.4
Additional paid-in capital	268.4	266.2
Total stockholders' equity	267.6	271.8
Total liabilities and stockholders' equity	373.9	378
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	Sep. 30, 2024	Dec. 31, 2023
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)	3,877,628	2,357,328
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)	26,122,840	25,756,017
Common stock, shares outstanding (in shares)	22,245,212	23,398,689
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue
Total revenue	$ 153	$ 164.4	$ 428	$ 485.1
Cost of services (exclusive of depreciation and amortization):
Total cost of services	122	134.8	356	402
General and administrative	7.1	7	20.7	22.7
Depreciation and amortization	11.1	10.6	33.3	29.3
Impairment of fixed assets	0	0.4	0	0.4
Gain on sale of assets	(0.1)	(0.1)	(1.7)	(1.6)
Total operating expenses	140.1	152.7	408.3	452.8
Operating income	12.9	11.7	19.7	32.3
Other expenses
Interest expense, net	0.7	0.7	2.1	2.8
Loss on debt retirement	0	0	0	2.4
Total other expenses	0.7	0.7	2.1	5.2
Income before income tax expense	12.2	11	17.6	27.1
Income tax expense	3.5	1.6	5	5.4
Net income (loss)	$ 8.7	$ 9.4	$ 12.6	$ 21.7
Income per common share
Basic (in dollars per share)	$ 0.39	$ 0.38	$ 0.56	$ 0.88
Diluted (in dollars per share)	$ 0.39	$ 0.38	$ 0.55	$ 0.86
Weighted average common shares outstanding
Basic (in shares)	22,241,847	24,500,607	22,608,796	24,758,890
Diluted (in shares)	22,494,453	24,887,275	22,731,259	25,149,415
High specification rigs
Revenue
Total revenue	$ 86.7	$ 79.2	$ 249.1	$ 234.3
Cost of services (exclusive of depreciation and amortization):
Total cost of services	67.2	63.5	198.8	185.6
Wireline services
Revenue
Total revenue	30.3	53.2	87.6	157.6
Cost of services (exclusive of depreciation and amortization):
Total cost of services	27.6	45.8	84.4	140.3
Processing solutions and ancillary services
Revenue
Total revenue	36	32	91.3	93.2
Cost of services (exclusive of depreciation and amortization):
Total cost of services	$ 27.2	$ 25.5	$ 72.8	$ 76.1

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Class A Common Stock	Total shareholders’ equity	Common Stock Class A Common Stock	Treasury Stock	Retained Earnings	Additional paid-in capital
Common stock, shares outstanding (in shares) at Dec. 31, 2022				25,446,292
Treasury stock, beginning (in shares) at Dec. 31, 2022					(551,828)
Balance at the beginning of the period at Dec. 31, 2022			$ 266.3	$ 0.3	$ (3.8)	$ 7.2	$ 262.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				390,612
Shares withheld for taxes on equity transactions (in shares)				(92,835)
Repurchase of Class A Common Stock (in shares)					(781,000)
Repurchase of Class A Common Stock			(8.6)		$ (8.6)
Net income	$ 21.7		21.7			21.7
Dividends declared			(1.3)			(1.3)
Equity based compensation			3.4				3.4
Shares withheld for taxes for equity compensation			(1)				(1)
Common stock, shares outstanding (in shares) at Sep. 30, 2023				25,744,069
Treasury stock, ending (in shares) at Sep. 30, 2023					(1,332,828)
Balance at the end of the period at Sep. 30, 2023			280.5	$ 0.3	$ (12.4)	27.6	265
Common stock, shares outstanding (in shares) at Jun. 30, 2023				25,689,807
Treasury stock, beginning (in shares) at Jun. 30, 2023					(1,099,928)
Balance at the beginning of the period at Jun. 30, 2023			274	$ 0.3	$ (9.7)	19.5	263.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				59,996
Shares withheld for taxes on equity transactions (in shares)				(5,734)
Repurchase of Class A Common Stock (in shares)					(232,900)
Repurchase of Class A Common Stock			(2.7)		$ (2.7)
Net income			9.4			9.4
Dividends declared			(1.3)			(1.3)
Equity based compensation			1.1				1.1
Common stock, shares outstanding (in shares) at Sep. 30, 2023				25,744,069
Treasury stock, ending (in shares) at Sep. 30, 2023					(1,332,828)
Balance at the end of the period at Sep. 30, 2023			280.5	$ 0.3	$ (12.4)	27.6	265
Common stock, shares outstanding (in shares) at Dec. 31, 2023		23,398,689		25,756,017
Treasury stock, beginning (in shares) at Dec. 31, 2023	(2,357,328)				(2,357,328)
Balance at the beginning of the period at Dec. 31, 2023			271.8	$ 0.3	$ (23.1)	28.4	266.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				527,717
Shares withheld for taxes on equity transactions (in shares)				(160,894)
Repurchase of Class A Common Stock (in shares)					(1,520,300)
Repurchase of Class A Common Stock			(15.5)		$ (15.5)
Net income	$ 12.6		12.6			12.6
Dividends declared			(3.5)			(3.5)
Equity based compensation			4				4
Shares withheld for taxes for equity compensation			(1.8)				(1.8)
Common stock, shares outstanding (in shares) at Sep. 30, 2024		22,245,212		26,122,840
Treasury stock, ending (in shares) at Sep. 30, 2024	(3,877,628)				(3,877,628)
Balance at the end of the period at Sep. 30, 2024			267.6	$ 0.3	$ (38.6)	37.5	268.4
Common stock, shares outstanding (in shares) at Jun. 30, 2024				26,087,524
Treasury stock, beginning (in shares) at Jun. 30, 2024					(3,722,428)
Balance at the beginning of the period at Jun. 30, 2024			260.5	$ 0.3	$ (36.9)	30	267.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under share-based compensation plans (in shares)				44,387
Shares withheld for taxes on equity transactions (in shares)				(9,071)
Repurchase of Class A Common Stock (in shares)					(155,200)
Repurchase of Class A Common Stock			(1.7)		$ (1.7)
Net income			8.7			8.7
Dividends declared			(1.2)			(1.2)
Equity based compensation			1.4				1.4
Shares withheld for taxes for equity compensation			(0.1)				(0.1)
Common stock, shares outstanding (in shares) at Sep. 30, 2024		22,245,212		26,122,840
Treasury stock, ending (in shares) at Sep. 30, 2024	(3,877,628)				(3,877,628)
Balance at the end of the period at Sep. 30, 2024			$ 267.6	$ 0.3	$ (38.6)	$ 37.5	$ 268.4

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities
Net income	$ 12.6	$ 21.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	33.3	29.3
Equity based compensation	4.2	3.6
Gain on disposal of property and equipment	(1.7)	(1.6)
Impairment of fixed assets	0	0.4
Deferred income tax expense	4.7	4.8
Loss on debt retirement	0	2.4
Other expense, net	0.6	2.3
Changes in operating assets and liabilities
Accounts receivable	3.3	0.1
Contract assets	(6)	(8.7)
Inventory	0.6	(2)
Prepaid expenses and other current assets	3.6	0.6
Other assets	1.4	1.2
Accounts payable	(1.5)	8.3
Accrued expenses	(2.5)	(7.7)
Other current liabilities	(1.9)	0
Other long-term liabilities	1.1	(1.6)
Net cash provided by operating activities	51.8	53.1
Cash Flows from Investing Activities
Purchase of property and equipment	(28.7)	(27.9)
Proceeds from disposal of property and equipment	1.5	4.9
Net cash used in investing activities	(27.2)	(23)
Cash Flows from Financing Activities
Principal payments on financing lease obligations	(4.2)	(4)
Principal payments on Secured Promissory Note	0	(6.2)
Principal payments on other financing liabilities	(0.5)	(0.7)
Dividends paid to Class A Common Stock shareholders	(3.4)	(1.2)
Shares withheld for equity compensation	(1.8)	(1)
Payments on Other Installment Purchases	(0.1)	(0.3)
Repurchase of Class A Common Stock	(15.5)	(8.6)
Deferred financing costs on Wells Fargo	0	(0.7)
Net cash used in financing activities	(25.5)	(25.6)
Increase (decrease) in cash and cash equivalents	(0.9)	4.5
Cash and cash equivalents, Beginning of Period	15.7	3.7
Cash and cash equivalents, End of Period	14.8	8.2
Supplemental Cash Flow Information
Interest paid	1.4	1
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures included in accounts payable and accrued liabilities	0.6	0
Additions to fixed assets through installment purchases and financing leases	(5)	(5.6)
Additions to fixed assets through asset trades	(4.4)	(1.1)
Senior Revolving Credit Facility
Cash Flows from Financing Activities
Borrowings under Revolving Credit Facility	25.3	315.6
Principal payments on Revolving Credit Facility	(25.3)	(308.1)
Eclipse M&E Term Loan, net
Cash Flows from Financing Activities
Principal payments on Revolving Credit Facility	$ 0	$ (10.4)

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2024
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,” “our” or the “Company”) is a provider of onshore high specification 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. 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, 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 specification 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 completion, production, and pump down service lines. • Processing Solutions and Ancillary Services. Provides complimentary services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services primarily include equipment rentals, plug and abandonment, logistics, 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, 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. In conjunction with the initial public offering of Class A Common Stock, par value $0.01 per share (“Class A Common Stock”), which closed on August 16, 2017 (the “Offering”), and the corporate reorganization Ranger Inc. underwent in connection with the Offering, Ranger Inc. became a holding company, and its sole material assets consist of membership interests in RNGR Energy Services, LLC, a Delaware limited liability company (“Ranger LLC”). Ranger LLC owns all of the outstanding equity interests in Ranger Energy Services, LLC (“Ranger Services”) and Torrent Energy Services, LLC (“Torrent Services”), 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	9 Months Ended
	Sep. 30, 2024
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. 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; • Collectability of accounts receivable and estimates of allowance for credit losses; • Income taxes; and • Equity-based compensation. New Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Note 3 — Assets Held for Sale Assets held for sale include the net book value of assets the Company plans to sell within the next 12 months and are primarily related to excess non-working assets. 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 September 30, 2023, the Company classified $0.6 million of land and buildings within our High Specification Rigs segment as held for sale as they are being actively marketed. For the nine months ended September 30, 2024 and 2023, the Company recognized a net gain on assets previously held in Property and equipment of $1.7 million and $1.6 million, respectively, which is shown on the Condensed Consolidated Statements of Operations.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2024
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, 2024 December 31, 2023 High specification rigs 15 $ 149.2 $ 138.4 Machinery and equipment 3 - 30 207.7 189.2 Vehicles 3 - 15 53.0 53.8 Other property and equipment 5 - 25 21.2 19.9 Property and equipment 431.1 401.3 Less: accumulated depreciation (221.2) (196.6) Construction in progress 17.0 21.6 Property and equipment, net $ 226.9 $ 226.3 On August 9, 2023, pursuant to an asset purchase agreement dated August 4, 2023, the Company acquired certain fixed assets from Pegaso Energy Services, LLC (“Pegaso acquisition”) for consideration of $7.3 million paid in cash. The fixed assets acquired from Pegaso were primarily engaged in pump down services for its customers. Under ASC 805 Business Combination, the Company accounted for the Pegaso acquisition as an asset acquisition. The consideration paid is similar to the fair value of the assets acquired and the Company allocated the consideration paid to each of the assets following the cost accumulation model.

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 December 31, 2023 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (5.6) (5.1) Intangible assets, net $ 5.8 $ 6.3 Amortization expense was $0.2 million and $0.2 million for the three months ended September 30, 2024 and 2023, respectively and $0.6 million and $0.6 million for the nine months ended September 30, 2024 and 2023. Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending September 30, Amount 2025 $ 0.7 2026 0.7 2027 0.7 2028 0.5 2029 0.5 Thereafter 2.7 Total $ 5.8

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Note 6 — Accrued Expenses Accrued expenses include the following (in millions): September 30, 2024 December 31, 2023 Accrued payables $ 8.9 $ 13.0 Accrued compensation 14.0 13.7 Accrued taxes 1.7 1.7 Accrued insurance 3.0 1.2 Accrued expenses $ 27.6 $ 29.6

Leases

Leases	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Short-term lease costs $ 3.5 $ 3.4 $ 9.6 $ 13.0 Operating lease costs $ 0.8 $ 0.8 $ 2.4 $ 2.4 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 2.4 $ 2.3 Weighted average remaining lease term 2.9 years 4.7 years Weighted average discount rate 8.1 % 7.9 % As of September 30, 2024, aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 3.4 2026 3.1 2027 2.4 2028 0.4 2029 0.1 Total future minimum lease payments 9.4 Less: amount representing interest (1.1) Present value of future minimum lease payments 8.3 Less: current portion of operating lease obligations (2.8) Long-term portion of operating lease obligations $ 5.5 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, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of finance leases $ 1.5 $ 1.0 $ 4.2 $ 2.7 Interest on lease liabilities $ 0.6 $ 0.5 $ 1.7 $ 1.1 Financing cash outflows from finance leases $ 1.6 $ 1.3 $ 4.2 $ 4.0 Weighted average remaining lease term 2.2 years 2.1 years Weighted average discount rate 6.5 % 5.2 % As of September 30, 2024, aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 6.6 2026 4.4 2027 3.4 2028 0.8 Total future minimum lease payments 15.2 Less: amount representing interest and fees (2.0) Present value of future minimum lease payments 13.2 Less: current portion of finance lease obligations (5.4) Long-term portion of finance lease obligations $ 7.8 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 September 30, 2024, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 0.7 2026 0.7 2027 0.8 2028 0.8 2029 0.9 Thereafter 7.3 Total future minimum lease payments $ 11.2
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 nine months ended September 30, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Short-term lease costs $ 3.5 $ 3.4 $ 9.6 $ 13.0 Operating lease costs $ 0.8 $ 0.8 $ 2.4 $ 2.4 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 2.4 $ 2.3 Weighted average remaining lease term 2.9 years 4.7 years Weighted average discount rate 8.1 % 7.9 % As of September 30, 2024, aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 3.4 2026 3.1 2027 2.4 2028 0.4 2029 0.1 Total future minimum lease payments 9.4 Less: amount representing interest (1.1) Present value of future minimum lease payments 8.3 Less: current portion of operating lease obligations (2.8) Long-term portion of operating lease obligations $ 5.5 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, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of finance leases $ 1.5 $ 1.0 $ 4.2 $ 2.7 Interest on lease liabilities $ 0.6 $ 0.5 $ 1.7 $ 1.1 Financing cash outflows from finance leases $ 1.6 $ 1.3 $ 4.2 $ 4.0 Weighted average remaining lease term 2.2 years 2.1 years Weighted average discount rate 6.5 % 5.2 % As of September 30, 2024, aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 6.6 2026 4.4 2027 3.4 2028 0.8 Total future minimum lease payments 15.2 Less: amount representing interest and fees (2.0) Present value of future minimum lease payments 13.2 Less: current portion of finance lease obligations (5.4) Long-term portion of finance lease obligations $ 7.8

Other Financing Liabilities

Other Financing Liabilities	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Short-term lease costs $ 3.5 $ 3.4 $ 9.6 $ 13.0 Operating lease costs $ 0.8 $ 0.8 $ 2.4 $ 2.4 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 2.4 $ 2.3 Weighted average remaining lease term 2.9 years 4.7 years Weighted average discount rate 8.1 % 7.9 % As of September 30, 2024, aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 3.4 2026 3.1 2027 2.4 2028 0.4 2029 0.1 Total future minimum lease payments 9.4 Less: amount representing interest (1.1) Present value of future minimum lease payments 8.3 Less: current portion of operating lease obligations (2.8) Long-term portion of operating lease obligations $ 5.5 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, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of finance leases $ 1.5 $ 1.0 $ 4.2 $ 2.7 Interest on lease liabilities $ 0.6 $ 0.5 $ 1.7 $ 1.1 Financing cash outflows from finance leases $ 1.6 $ 1.3 $ 4.2 $ 4.0 Weighted average remaining lease term 2.2 years 2.1 years Weighted average discount rate 6.5 % 5.2 % As of September 30, 2024, aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 6.6 2026 4.4 2027 3.4 2028 0.8 Total future minimum lease payments 15.2 Less: amount representing interest and fees (2.0) Present value of future minimum lease payments 13.2 Less: current portion of finance lease obligations (5.4) Long-term portion of finance lease obligations $ 7.8 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 September 30, 2024, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 0.7 2026 0.7 2027 0.8 2028 0.8 2029 0.9 Thereafter 7.3 Total future minimum lease payments $ 11.2

Debt

Debt	9 Months Ended
	Sep. 30, 2024
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): September 30, 2024 December 31, 2023 Wells Fargo Revolving Credit Facility $ — $ — Installment Purchases — 0.1 Total Debt — 0.1 Current portion of long-term debt — (0.1) Long term-debt, net $ — $ — 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 of maintaining a Fixed Charge Coverage Ratio (“FCCR”) of greater than 1.0 as of September 30, 2024, which is applicable only under certain borrowing levels. The Company has up to $5 million available under the Wells Fargo Revolving Credit Facility for letters of credit, subject to assignment. At loan origination, the Company had a Letter of Credit in the amount of $1.6 million, to be utilized for working capital and general corporate purposes, as needed. On September 25, 2023, the Company entered into an agreement with Wells Fargo Bank, N.A. which designated an additional Letter of Credit in the amount of $1.6 million as part of incremental collateral requirements for the Company’s 2024 insurance renewal. The initial maturity date was September 25, 2024, with provisions for automatic annual renewal related to the same insurance policy. On September 25, 2024, the amount of the Letter of Credit was increased to $2.1 million as part of incremental collateral requirements for the Company’s 2025 insurance renewal, with a new maturity date of September 25, 2025. The interest rate for this Letter of Credit was approximately 1.8% for the month ended September 30, 2024. 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, as defined below. 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, such as dividends and share repurchases. 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 and eligible unbilled revenue 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 and cash dominion provisions under certain circumstances 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 Wells Fargo Revolving Credit Facility, therefore, will be classified as Long-term debt, current portion on the Condensed Consolidated Balance Sheets. Under the Wells Fargo Revolving Credit Facility, the total loan capacity was $75.0 million, which was based on a borrowing base certificate in effect as of September 30, 2024. On June 17, 2024, the Company entered into the First Amendment to the Wells Fargo Revolving Credit Facility, which allows for a percentage of unbilled revenue to be included in the calculation of the borrowing base. The Company did not have any borrowings under the Wells Fargo Revolving Credit Facility as of September 30, 2024. The Company does have $3.7 million in Letters of Credit open under the facility, leaving a residual $71.3 million available for borrowings as of September 30, 2024. 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 7.2% for the nine months ended September 30, 2024. Eclipse Loan and Security Agreement On September 27, 2021, the Company entered into a Loan and Security Agreement with 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”). On September 23, 2022, the Company entered into the Fourth Amendment to the Loan and Security Agreement pursuant to which, SOFR replaced LIBOR as the reference rate for interest on borrowings, effective October 1, 2022. On August 16, 2022, the Company fully repaid the Eclipse Term Loan B Facility and Eclipse M&E Term Loan Facility, making principal payments totaling $12.4 million and $1.5 million, respectively. On May 31, 2023, the Company extinguished the Eclipse Revolving Credit Facility and Eclipse M&E Term Loan Facility, paying the remaining principal amount of $8.4 million to extinguish the debt, using funds from the Wells Fargo Revolving Credit Facility. The Company recognized a loss on the retirement of debt of $2.4 million in connection with the initiation of the Wells Fargo Revolving Credit Facility. 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”). On May 31, 2023, the Company made principal payments totaling $5.4 million to extinguish the debt, using funds from the Wells Fargo Revolving Credit Facility. Other Installment Purchases During the year ended December 31, 2021, the Company entered into various Installment and Security Agreements (collectively, the “Installment Agreements”) in connection with the purchase of certain ancillary equipment, where such assets are being held as collateral. For the nine months ended September 30, 2024 and 2023, the Company paid down the Installment Agreements by $0.1 million and $0.3 million, respectively. As of September 30, 2024, the Company has fully paid the Installment Agreements.

Equity

Equity	9 Months Ended
	Sep. 30, 2024
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”), restricted stock units (“restricted units” or “RSUs”), restricted cash units (“RCUs”), 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 nine months ended September 30, 2024, the Company granted approximately 376,800 RSAs, with an approximated aggregate value of $3.9 million. During the nine months ended September 30, 2023, the Company granted approximately 436,200 RSAs, with an approximated aggregate value of $4.7 million. As of September 30, 2024, 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 1.9 years. Restricted Stock Units The Company has granted RSUs to certain non-employee directors, which cliff vests on the first anniversary date of the grant. During the nine months ended September 30, 2024, the Company granted approximately 47,300 RSUs, with an approximated aggregate value of $0.5 million. As of September 30, 2024, there was an aggregate $0.4 million of unrecognized expense related to restricted shares issued which is expected to be recognized over a weighted average period of 0.8 years. Restricted Cash Units The Company has granted RCUs to certain non-employee directors, which cliff vests on the first anniversary date of the grant. During the nine months ended September 30, 2024, the Company granted approximately 16,400. RCUs, which are cash-settled with the value of each vested RCU equal to the closing price per share of our Common Stock on the vesting date. The Compnay determined that RCUs are in-substance liabilities accounted for as liability instruments in accordance with ASC 718, Compensation—Stock Compensation , due to this cash settlement feature. RCUs are remeasured based on the closing price per share of the Company’s Common Stock at the end of each reporting period. As of September 30, 2024, the liability associated with unvested RCUs was $0.1 million, which is included in Accrued expenses in the Condensed Consolidated Balance Sheets. 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 nine months ended September 30, 2024, the Company granted approximately 123,600 target shares of market-based performance stock units, of which 61,800 were granted at a relative grant date fair value of approximately $14.13 per share and 61,800 were granted at an absolute grant date fair value of approximately $11.35 per share. Additionally, the Company granted approximately 62,000 target shares of market-based performance stock units with a specified floor price per share, of which 31,000 were granted a relative grant date fair value of approximately $9.57 and 31,000 were granted at an absolute grant date fair value of approximately $10.54 per share. During the nine months ended September 30, 2023, the Company granted approximately 110,400 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 $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 $10.85 per share. Shares granted during the nine months ended September 30, 2024 are expected to vest (if at all) following the completion of the applicable performance period on December 31, 2026. As of September 30, 2024, there was an aggregate $2.9 million of unrecognized compensation cost related to performance stock units which are expected to be recognized over a weighted average period of 1.5 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. On March 4, 2024, the Company announced that its Board of Directors approved an additional share repurchase program authorization of $50.0 million, bringing the total share repurchase program authorization to $85.0 million in aggregate value. Share repurchases may take place in any transaction form as allowable by the SEC. Approval of the program by the Board of Directors of the Company is specific for the next 36 months allowing the Company to utilize the expanded $50 million of approved capacity through March 4, 2027. During the three and nine months ended September 30, 2024, the Company repurchased 155,200 and 1,520,300 shares, respectively, of the Company’s Class A Common Stock for an aggregate $1.7 million and $15.5 million, net of tax on the open market. As of September 30, 2024, an aggregate of 3,325,800 shares of Class A Common Stock were purchased for a total of $34.5 million, net of tax since the inception of the repurchase plan announced on March 7, 2023. The Company has accrued stock repurchase excise tax of $0.2 million for the nine months ended September 30, 2024. Dividends In 2023, the Board of Directors approved the initiation of a quarterly dividend of $0.05 per share. The Company paid dividend distributions totaling $1.1 million and $1.2 million to shareholders for the three months ended September 30, 2024 and 2023, respectively and $3.4 million and $1.2 million to all shareholders in the nine months ended September 30, 2024 and 2023, respectively. The declaration of any future dividends is subject to the Board of Directors’ discretion and approval. 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. As of June 30, 2024, the Company failed to maintain the specified minimum level of purchases, resulting in a forfeiture event. The Company elected not to cure the forfeiture event leading to a reduction in the ownership percentage to 15%. During the third quarter of 2024, the Company continued to fall below the minimum level of purchases required, which may result in the cancellation of the warrant.. The value of the warrant by the Company remains negligible as of September 30, 2024. The Company finalized the purchase price allocation in the fourth quarter of 2021.

Risk Concentrations

Risk Concentrations	9 Months Ended
	Sep. 30, 2024
Risk Concentrations
Risk Concentrations	Note 11 — Risk Concentrations Customer Concentrations During the three months ended September 30, 2024, three customers accounted for approximately 18%, 11% and 10%, respectively, of the Company’s consolidated revenues. During the nine months ended September 30, 2024, three customers accounted for approximately 16%, 11% and 10%, respectively, of the Company’s consolidated revenues. As of September 30, 2024, approximately 41% of the net accounts receivable balance was due from these three customers. During the three and nine months ended September 30, 2023, one customer accounted for approximately 11% and 10%, respectively, of the Company’s consolidated revenue. As of September 30, 2023, approximately 7% of the net accounts receivable balance, in aggregate, was due from this customer.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 applicable to the Company for the nine months ended September 30, 2024 and 2023 was 29.0% and 20.0%, 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. As the Company continues to experience increasing profits and no longer has a trailing 3-year cumulative taxable loss, we currently believe that it is more likely than not to fully utilize all deferred tax assets including those associated with the net operating loss carry-forward. Accordingly, the Company released all valuation allowances previously recorded resulting in a discrete tax benefit for the period ended September 30, 2023. Other Tax Matters Total income tax expense for the nine months ended September 30, 2024 and 2023 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income or loss primarily due to the impact of state income taxes as well as certain non-deductible expenses offset by the benefit from the release of a previously recorded valuation allowance against deferred tax assets. The Company is subject to the following material taxing jurisdictions: the United States and Texas. As of September 30, 2024, 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 2020 through 2023. 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, 2024, the Company had not established any reserves for, nor recorded any unrecognized benefits related to, uncertain tax positions.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	Note 13 — Earnings per Share Earnings per share is based on the amount of earnings 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 per share were as follows (in millions, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Income (numerator): Basic: Income attributable to Ranger Energy Services, Inc. $ 8.7 $ 9.4 $ 12.6 $ 21.7 Net income attributable to Class A Common Stock $ 8.7 $ 9.4 $ 12.6 $ 21.7 Diluted: Income attributable to Ranger Energy Services, Inc. $ 8.7 $ 9.4 $ 12.6 $ 21.7 Net income attributable to Class A Common Stock $ 8.7 $ 9.4 $ 12.6 $ 21.7 Weighted average shares (denominator): Weighted average number of shares - basic 22,241,847 24,500,607 22,608,796 24,758,890 Effect of share-based awards 252,606 386,668 122,463 390,525 Weighted average number of shares - diluted 22,494,453 24,887,275 22,731,259 25,149,415 Basic income per share $ 0.39 $ 0.38 $ 0.56 $ 0.88 Diluted income per share $ 0.39 $ 0.38 $ 0.55 $ 0.86

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
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. We maintain insurance policies with insurers in amounts and with coverage and deductibles that we, with the advice of our insurance advisers and brokers, believe are reasonable and prudent. We cannot, however, assure you that this insurance will be adequate to protect us from all material expenses related to potential future claims for personal injury and property damage or that these levels of insurance will be available in the future at economical prices.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2024
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 specification 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 completion, production and pump down service lines. Processing Solutions and Ancillary Services . Provides complimentary services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services primarily include equipment rentals, plug and abandonment snubbing, and processing solutions. Other . Other represents costs not allocable to the reporting segments and includes corporate general and administrative expense and depreciation of corporate furniture and fixtures, amortization, impairments, debt retirements and other items similar in nature. Certain segment information for the three and nine months ended September 30, 2024 and 2023 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2024 Revenue $ 86.7 $ 30.3 $ 36.0 $ — $ 153.0 Cost of services 67.2 27.6 27.2 — 122.0 Depreciation and amortization 5.7 2.7 2.2 0.5 11.1 Operating income (loss) 13.8 — 6.6 (7.5) 12.9 Net income (loss) $ 13.8 $ — $ 6.6 $ (11.7) $ 8.7 Capital expenditures $ 4.0 $ 1.6 $ 2.2 $ — $ 7.8 Nine Months Ended September 30, 2024 Revenue $ 249.1 $ 87.6 $ 91.3 $ — $ 428.0 Cost of services 198.8 84.4 72.8 — 356.0 Depreciation and amortization 16.9 8.7 6.2 1.5 33.3 Operating income (loss) 33.4 (5.5) 12.3 (20.5) 19.7 Net income (loss) $ 33.4 $ (5.5) $ 12.3 $ (27.6) $ 12.6 Capital expenditures $ 20.0 $ 3.9 $ 13.6 $ — $ 37.5 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2023 Revenue $ 79.2 $ 53.2 $ 32.0 $ — $ 164.4 Cost of services 63.5 45.8 25.5 — 134.8 Depreciation and amortization 5.1 3.1 2.0 0.4 10.6 Operating income (loss) 10.6 4.3 4.5 (7.7) 11.7 Net income (loss) $ 10.6 $ 4.3 $ 4.5 $ (10.0) $ 9.4 Capital expenditures $ 5.6 $ 9.2 $ 2.4 $ — $ 17.2 Nine Months Ended September 30, 2023 Revenue $ 234.3 $ 157.6 $ 93.2 $ — $ 485.1 Cost of services 185.6 140.3 76.1 — 402.0 Depreciation and amortization 14.7 8.4 5.0 1.2 29.3 Operating income (loss) 34.0 8.9 12.1 (22.7) 32.3 Net income (loss) $ 34.0 $ 8.9 $ 12.1 $ (33.3) $ 21.7 Capital expenditures $ 11.4 $ 13.7 $ 9.5 $ — $ 34.6

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events On October 28, 2024, the Board of Directors declared a quarterly cash dividend of $0.05 per share payable November 22, 2024 to common stockholders of record at the close of business on November 8, 2024. The declaration of any future dividends is subject to the Board of Directors’ discretion and approval. The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date the financial statements are issued. Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Income attributable to Ranger Energy Services, Inc.	$ 8.7	$ 9.4	$ 12.6	$ 21.7

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
J. Matt Hooker [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 24, 2024, J. Matt Hooker, our Senior Vice President, Well Services, adopted a written trading plan for the sale of our Class A Common Stock that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (a “Rule 10b5-1 Trading Plan”). Mr. Hooker’s Rule 10b5-1 Trading Plan provides for the sale of up to 15,606 shares of our Class A common stock, during the period beginning on August 23, 2024 and ending August 25, 2025.
Name	J. Matt Hooker
Title	Senior Vice President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 24, 2024
Expiration Date	August 25, 2025
Arrangement Duration	367 days
Aggregate Available	15,606	15,606

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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.
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; • Collectability of accounts receivable and estimates of allowance for credit losses; • Income taxes; and • Equity-based compensation.
New Accounting Pronouncements	New Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 December 31, 2023 High specification rigs 15 $ 149.2 $ 138.4 Machinery and equipment 3 - 30 207.7 189.2 Vehicles 3 - 15 53.0 53.8 Other property and equipment 5 - 25 21.2 19.9 Property and equipment 431.1 401.3 Less: accumulated depreciation (221.2) (196.6) Construction in progress 17.0 21.6 Property and equipment, net $ 226.9 $ 226.3

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 December 31, 2023 Customer relationships 10-18 $ 11.4 $ 11.4 Less: accumulated amortization (5.6) (5.1) Intangible assets, net $ 5.8 $ 6.3
Schedule of aggregated amortization expense for future periods	Amortization expense for the future periods is expected to be as follows (in millions): For the twelve months ending September 30, Amount 2025 $ 0.7 2026 0.7 2027 0.7 2028 0.5 2029 0.5 Thereafter 2.7 Total $ 5.8

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2024
Accrued Liabilities, Current [Abstract]
Schedule of accrued expenses	Accrued expenses include the following (in millions): September 30, 2024 December 31, 2023 Accrued payables $ 8.9 $ 13.0 Accrued compensation 14.0 13.7 Accrued taxes 1.7 1.7 Accrued insurance 3.0 1.2 Accrued expenses $ 27.6 $ 29.6

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of other information related to operating and finance leases	Lease costs and other information related to operating leases for the three and nine months ended September 30, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Short-term lease costs $ 3.5 $ 3.4 $ 9.6 $ 13.0 Operating lease costs $ 0.8 $ 0.8 $ 2.4 $ 2.4 Operating cash outflows from operating leases $ 0.8 $ 0.7 $ 2.4 $ 2.3 Weighted average remaining lease term 2.9 years 4.7 years Weighted average discount rate 8.1 % 7.9 % Lease costs and other information related to finance leases for the three and nine months ended September 30, 2024 and 2023, are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of finance leases $ 1.5 $ 1.0 $ 4.2 $ 2.7 Interest on lease liabilities $ 0.6 $ 0.5 $ 1.7 $ 1.1 Financing cash outflows from finance leases $ 1.6 $ 1.3 $ 4.2 $ 4.0 Weighted average remaining lease term 2.2 years 2.1 years Weighted average discount rate 6.5 % 5.2 %
Schedule of future minimum leases payments for operating leases	As of September 30, 2024, aggregate future minimum lease payments under operating leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 3.4 2026 3.1 2027 2.4 2028 0.4 2029 0.1 Total future minimum lease payments 9.4 Less: amount representing interest (1.1) Present value of future minimum lease payments 8.3 Less: current portion of operating lease obligations (2.8) Long-term portion of operating lease obligations $ 5.5
Schedule of future minimum leases payments for finances leases	As of September 30, 2024, aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 6.6 2026 4.4 2027 3.4 2028 0.8 Total future minimum lease payments 15.2 Less: amount representing interest and fees (2.0) Present value of future minimum lease payments 13.2 Less: current portion of finance lease obligations (5.4) Long-term portion of finance lease obligations $ 7.8 As of September 30, 2024, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 0.7 2026 0.7 2027 0.8 2028 0.8 2029 0.9 Thereafter 7.3 Total future minimum lease payments $ 11.2

Other Financing Liabilities (Ta

Other Financing Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of future minimum leases payments for finances leases	As of September 30, 2024, aggregate future minimum lease payments under finance leases are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 6.6 2026 4.4 2027 3.4 2028 0.8 Total future minimum lease payments 15.2 Less: amount representing interest and fees (2.0) Present value of future minimum lease payments 13.2 Less: current portion of finance lease obligations (5.4) Long-term portion of finance lease obligations $ 7.8 As of September 30, 2024, aggregate future lease payments of the financing liabilities are as follows (in millions): For the twelve months ending September 30, Total 2025 $ 0.7 2026 0.7 2027 0.8 2028 0.8 2029 0.9 Thereafter 7.3 Total future minimum lease payments $ 11.2

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 December 31, 2023 Wells Fargo Revolving Credit Facility $ — $ — Installment Purchases — 0.1 Total Debt — 0.1 Current portion of long-term debt — (0.1) Long term-debt, net $ — $ —

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share	The numerator and denominator used to compute earnings per share were as follows (in millions, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Income (numerator): Basic: Income attributable to Ranger Energy Services, Inc. $ 8.7 $ 9.4 $ 12.6 $ 21.7 Net income attributable to Class A Common Stock $ 8.7 $ 9.4 $ 12.6 $ 21.7 Diluted: Income attributable to Ranger Energy Services, Inc. $ 8.7 $ 9.4 $ 12.6 $ 21.7 Net income attributable to Class A Common Stock $ 8.7 $ 9.4 $ 12.6 $ 21.7 Weighted average shares (denominator): Weighted average number of shares - basic 22,241,847 24,500,607 22,608,796 24,758,890 Effect of share-based awards 252,606 386,668 122,463 390,525 Weighted average number of shares - diluted 22,494,453 24,887,275 22,731,259 25,149,415 Basic income per share $ 0.39 $ 0.38 $ 0.56 $ 0.88 Diluted income per share $ 0.39 $ 0.38 $ 0.55 $ 0.86

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of Segment Information	Certain segment information for the three and nine months ended September 30, 2024 and 2023 is as follows (in millions): High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2024 Revenue $ 86.7 $ 30.3 $ 36.0 $ — $ 153.0 Cost of services 67.2 27.6 27.2 — 122.0 Depreciation and amortization 5.7 2.7 2.2 0.5 11.1 Operating income (loss) 13.8 — 6.6 (7.5) 12.9 Net income (loss) $ 13.8 $ — $ 6.6 $ (11.7) $ 8.7 Capital expenditures $ 4.0 $ 1.6 $ 2.2 $ — $ 7.8 Nine Months Ended September 30, 2024 Revenue $ 249.1 $ 87.6 $ 91.3 $ — $ 428.0 Cost of services 198.8 84.4 72.8 — 356.0 Depreciation and amortization 16.9 8.7 6.2 1.5 33.3 Operating income (loss) 33.4 (5.5) 12.3 (20.5) 19.7 Net income (loss) $ 33.4 $ (5.5) $ 12.3 $ (27.6) $ 12.6 Capital expenditures $ 20.0 $ 3.9 $ 13.6 $ — $ 37.5 High Specification Rigs Wireline Services Processing Solutions and Ancillary Services Other Total Three Months Ended September 30, 2023 Revenue $ 79.2 $ 53.2 $ 32.0 $ — $ 164.4 Cost of services 63.5 45.8 25.5 — 134.8 Depreciation and amortization 5.1 3.1 2.0 0.4 10.6 Operating income (loss) 10.6 4.3 4.5 (7.7) 11.7 Net income (loss) $ 10.6 $ 4.3 $ 4.5 $ (10.0) $ 9.4 Capital expenditures $ 5.6 $ 9.2 $ 2.4 $ — $ 17.2 Nine Months Ended September 30, 2023 Revenue $ 234.3 $ 157.6 $ 93.2 $ — $ 485.1 Cost of services 185.6 140.3 76.1 — 402.0 Depreciation and amortization 14.7 8.4 5.0 1.2 29.3 Operating income (loss) 34.0 8.9 12.1 (22.7) 32.3 Net income (loss) $ 34.0 $ 8.9 $ 12.1 $ (33.3) $ 21.7 Capital expenditures $ 11.4 $ 13.7 $ 9.5 $ — $ 34.6

Organization and Business Ope_2

Organization and Business Operations (Details)	9 Months Ended
	Sep. 30, 2024 segment $ / shares	Dec. 31, 2023 $ / shares	Aug. 16, 2017 $ / shares
Class of Stock [Line Items]
Number of reportable segments | segment	3
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Class A Common Stock | IPO
Class of Stock [Line Items]
Common stock, par value (in dollars per share)			$ 0.01

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 0.6		$ 0.6		$ 0.6
Gain on disposal of property and equipment	$ 0.1	$ 0.1	$ 1.7	$ 1.6
High specification rigs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale		$ 0.6		$ 0.6

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment, Net
Property and equipment	$ 431.1	$ 401.3
Less: accumulated depreciation	(221.2)	(196.6)
Construction in progress	17	21.6
Property and equipment, net	$ 226.9	226.3
High specification rigs
Property, Plant and Equipment, Net
Estimated Useful Life (years)	15 years
Property and equipment	$ 149.2	138.4
Machinery and equipment
Property, Plant and Equipment, Net
Property and equipment	207.7	189.2
Vehicles
Property, Plant and Equipment, Net
Property and equipment	53	53.8
Other property and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 21.2	$ 19.9
Minimum | 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 | 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

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Aug. 09, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment, Net
Depreciation expense		$ 10.9	$ 10.4	$ 32.7	$ 28.7
Pegaso Energy Services, LLC
Property, Plant and Equipment, Net
Total consideration	$ 7.3

Intangible Assets, Net - Intang

Intangible Assets, Net - Intangibles (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Intangible assets
Less: accumulated amortization	$ (5.6)	$ (5.1)
Intangible assets, net	5.8	6.3
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.2	$ 0.2	$ 0.6	$ 0.6

Intangible Assets, Net - Amorti

Intangible Assets, Net - Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 0.7
2026	0.7
2027	0.7
2028	0.5
2029	0.5
Thereafter	2.7
Intangible assets, net	$ 5.8	$ 6.3

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued payables	$ 8.9	$ 13
Accrued compensation	14	13.7
Accrued taxes	1.7	1.7
Accrued insurance	3	1.2
Accrued expenses	$ 27.6	$ 29.6

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	1 year
Lease term, finance leases (in years)	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term, operating leases	9 years
Lease term, finance leases (in years)	5 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Information Related to Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Short-term lease costs	$ 3.5	$ 3.4	$ 9.6	$ 13
Operating lease costs	0.8	0.8	2.4	2.4
Operating cash outflows from operating leases	$ 0.8	$ 0.7	$ 2.4	$ 2.3
Weighted average remaining lease term	2 years 10 months 24 days	4 years 8 months 12 days	2 years 10 months 24 days	4 years 8 months 12 days
Weighted average discount rate	8.10%	7.90%	8.10%	7.90%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating and Finance Leases (Details) $ in Millions	Sep. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2025	$ 3.4
2026	3.1
2027	2.4
2028	0.4
2029	0.1
Total future minimum lease payments	9.4
Less: amount representing interest	(1.1)
Present value of future minimum lease payments	8.3
Less: current portion of operating lease obligations	(2.8)
Long-term portion of operating lease obligations	5.5
Finance Lease, Liability, to be Paid [Abstract]
2025	6.6
2026	4.4
2027	3.4
2028	0.8
Total future minimum lease payments	15.2
Less: amount representing interest and fees	(2)
Present value of future minimum lease payments	13.2
Less: current portion of finance lease obligations	(5.4)
Long-term portion of finance lease obligations	$ 7.8

Leases - Schedule of Lease Co_2

Leases - Schedule of Lease Costs and Other Information Related to Financing Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Amortization of finance leases	$ 1.5	$ 1	$ 4.2	$ 2.7
Interest on lease liabilities	0.6	0.5	1.7	1.1
Financing cash outflows from finance leases	$ 1.6	$ 1.3	$ 4.2	$ 4
Weighted average remaining lease term	2 years 2 months 12 days	2 years 1 month 6 days	2 years 2 months 12 days	2 years 1 month 6 days
Weighted average discount rate	6.50%	5.20%	6.50%	5.20%

Other Financing Liabilities - N

Other Financing Liabilities - Narrative (Details) - Other Fixed Asset	9 Months Ended
	Sep. 30, 2024
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	Sep. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
2025	$ 0.7
2026	0.7
2027	0.8
2028	0.8
2029	0.9
Thereafter	7.3
Total future minimum lease payments	$ 11.2

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total Debt	$ 0	$ 0.1
Current portion of long-term debt	0	(0.1)
Long term-debt, net	0	0
Installment Purchases
Debt Instrument [Line Items]
Total Debt	0	0.1
Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt	$ 0	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)			3 Months Ended		9 Months Ended
	May 31, 2023	Aug. 16, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 25, 2024	Dec. 31, 2023	Sep. 25, 2023	Sep. 27, 2021
Debt Instrument [Line Items]
Remaining principal balance			$ 0		$ 0			$ 100,000
Loss on debt retirement			0	$ 0	0	$ 2,400,000
Payments on installment purchases					100,000	300,000
Notes Payable to Banks | Secured Promissory Note
Debt Instrument [Line Items]
Exercise of right to stop payments on remaining principal balance, amount	$ 5,400,000
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
Residual available borrowings			$ 75,000,000		$ 75,000,000
Letter of credit | Line of Credit | Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings	5,000,000						$ 2,100,000		$ 1,600,000
Interest rate (as a percent)			1.80%		1.80%
Letters of credit outstanding			$ 3,700,000		$ 3,700,000
Letter of Credit, Working Capital And General Corporate Purposes | Line of Credit | Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings	1,600,000
EBC Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings										$ 77,500,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings										50,000,000
Revolving Credit Facility | Line of Credit | Wells Fargo Revolving Credit Facility
Debt Instrument [Line Items]
Residual available borrowings			71,300,000		71,300,000
Remaining principal balance			$ 0		$ 0
Weighted average interest rate (as a percent)			7.20%		7.20%
Revolving Credit Facility | Line of Credit | Wells Fargo Revolving Credit Facility | Minimum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)					1.75%
Revolving Credit Facility | Line of Credit | Wells Fargo Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)					0.75%
Revolving Credit Facility | Line of Credit | Wells Fargo Revolving Credit Facility | Maximum | SOFR
Debt Instrument [Line Items]
Interest rate margin (as a percent)					2.25%
Revolving Credit Facility | Line of Credit | Wells Fargo Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate margin (as a percent)					1.25%
Eclipse M&E Term Loan, net
Debt Instrument [Line Items]
Payments on credit facility		$ 1,500,000			$ 0	$ 10,400,000
Eclipse M&E Term Loan, net | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings										12,500,000
Exercise of right to stop payments on remaining principal balance, amount	8,400,000
Loss on debt retirement	$ 2,400,000
Term Loan B Facility
Debt Instrument [Line Items]
Payments on credit facility		$ 12,400,000
Term Loan B Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowings										$ 15,000,000

Equity (Details)

Equity (Details)		3 Months Ended		9 Months Ended		12 Months Ended	19 Months Ended
	Mar. 04, 2024 USD ($)	Sep. 30, 2024 USD ($) installment shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) installment $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares	Sep. 30, 2024 USD ($) installment shares	Jul. 08, 2031	Jun. 30, 2024	Mar. 07, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount	$ 85,000,000									$ 35,000,000
Stock repurchase program, additional authorized amount	$ 50,000,000
Duration of share repurchase program (in months)	36 months
Excise tax payable		$ 200,000		$ 200,000			$ 200,000
Dividends declared (in dollars per share) | $ / shares						$ 0.05
Dividends paid to class A common stock shareholders		$ 1,100,000	$ 1,200,000	$ 3,400,000	$ 1,200,000
PerfX Wireline Services, LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership (as a percent)									15%
Forecast | PerfX Wireline Services, LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership (as a percent)								30%
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during the period (in shares) | shares							3,325,800
Repurchase of class A common stock							$ 34,500,000
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during the period (in shares) | shares		155,200	232,900	1,520,300	781,000
Repurchase of class A common stock		$ 1,700,000	$ 2,700,000	$ 15,500,000	$ 8,600,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equal annual installments | installment		3		3			3
Granted shares issued (in shares) | shares				376,800	436,200
Value of shares granted				$ 3,900,000	$ 4,700,000
Unrecognized expense related to restricted shares issued		$ 5,200,000		$ 5,200,000			$ 5,200,000
Weighted average period (in years)				1 year 10 months 24 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				47,300
Value of shares granted				$ 500,000
Unrecognized expense related to restricted shares issued		400,000		$ 400,000			400,000
Weighted average period (in years)				9 months 18 days
Restricted Cash Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				16,400
Unrecognized expense related to restricted shares issued		100,000		$ 100,000			100,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				123,600	110,400
Unrecognized expense related to restricted shares issued		$ 2,900,000		$ 2,900,000			$ 2,900,000
Weighted average period (in years)				1 year 6 months
Performance period (in years)				3 years
PSUs | Scenario 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				62,000	55,200
Performance Shares, Relative Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				61,800	55,200
Number of target shares granted to employees (in dollars per share) | $ / shares				$ 14.13	$ 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) | shares				31,000	27,600
Number of target shares granted to employees (in dollars per share) | $ / shares				$ 9.57	$ 15.22
Performance Shares, Absolute Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted shares issued (in shares) | shares				61,800	55,200
Number of target shares granted to employees (in dollars per share) | $ / shares				$ 11.35	$ 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) | shares				31,000	27,600
Number of target shares granted to employees (in dollars per share) | $ / shares				$ 10.54	$ 10.85

Risk Concentrations (Details)

Risk Concentrations (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue | Customer One
Customer Concentrations
Concentration risk (as a percent)	18%	11%	16%	10%
Revenue | Customer Two
Customer Concentrations
Concentration risk (as a percent)	11%		11%
Revenue | Customer Three
Customer Concentrations
Concentration risk (as a percent)	10%		10%
Accounts Receivable | Customer One
Customer Concentrations
Concentration risk (as a percent)			41%	7%
Accounts Receivable | Customer Two
Customer Concentrations
Concentration risk (as a percent)			41%
Accounts Receivable | Customer Three
Customer Concentrations
Concentration risk (as a percent)			41%

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective federal income tax rate (as a percent)	29%	20%
Texas margin tax, maximum statutory effective rate (as a percent)	0.75%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic:
Income attributable to Ranger Energy Services, Inc.	$ 8.7	$ 9.4	$ 12.6	$ 21.7
Net income attributable to Class A Common Stock	8.7	9.4	12.6	21.7
Diluted:
Income attributable to Ranger Energy Services, Inc.	8.7	9.4	12.6	21.7
Net income attributable to Class A Common Stock	$ 8.7	$ 9.4	$ 12.6	$ 21.7
Weighted average shares (denominator):
Weighted average number of shares - basic (in shares)	22,241,847	24,500,607	22,608,796	24,758,890
Effect of share-based awards (in shares)	252,606	386,668	122,463	390,525
Weighted average number of shares - diluted (in shares)	22,494,453	24,887,275	22,731,259	25,149,415
Basic income per share (in dollars per share)	$ 0.39	$ 0.38	$ 0.56	$ 0.88
Diluted income per share (in dollars per share)	$ 0.39	$ 0.38	$ 0.55	$ 0.86

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments | segment			3
Segment Reporting
Revenue	$ 153	$ 164.4	$ 428	$ 485.1
Cost of services	122	134.8	356	402
Depreciation and amortization	11.1	10.6	33.3	29.3
Operating income (loss)	12.9	11.7	19.7	32.3
Net income (loss)	8.7	9.4	12.6	21.7
Capital expenditures	7.8	17.2	37.5	34.6
Operating Segments | High Specification Rigs
Segment Reporting
Revenue	86.7	79.2	249.1	234.3
Cost of services	67.2	63.5	198.8	185.6
Depreciation and amortization	5.7	5.1	16.9	14.7
Operating income (loss)	13.8	10.6	33.4	34
Net income (loss)	13.8	10.6	33.4	34
Capital expenditures	4	5.6	20	11.4
Operating Segments | Wireline Services
Segment Reporting
Revenue	30.3	53.2	87.6	157.6
Cost of services	27.6	45.8	84.4	140.3
Depreciation and amortization	2.7	3.1	8.7	8.4
Operating income (loss)	0	4.3	(5.5)	8.9
Net income (loss)	0	4.3	(5.5)	8.9
Capital expenditures	1.6	9.2	3.9	13.7
Operating Segments | Processing Solutions and Ancillary Services
Segment Reporting
Revenue	36	32	91.3	93.2
Cost of services	27.2	25.5	72.8	76.1
Depreciation and amortization	2.2	2	6.2	5
Operating income (loss)	6.6	4.5	12.3	12.1
Net income (loss)	6.6	4.5	12.3	12.1
Capital expenditures	2.2	2.4	13.6	9.5
Other
Segment Reporting
Revenue	0	0	0	0
Cost of services	0	0	0	0
Depreciation and amortization	0.5	0.4	1.5	1.2
Operating income (loss)	(7.5)	(7.7)	(20.5)	(22.7)
Net income (loss)	(11.7)	(10)	(27.6)	(33.3)
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		12 Months Ended
	Oct. 28, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Dividends declared (in dollars per share)		$ 0.05
Subsequent event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.05