RNGR - Earnings call transcript Q2 2019 | Ranger Energy Services, Inc.

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Operator

Good morning, and welcome to the Ranger Energy Second Quarter 2019 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Officer. Executive Chief Anderson, Darron Please go sir. ahead,

Darron Anderson

Thank Energy Services operator. Good Conference morning, Ranger to welcome and Second everyone Call. you, Quarter Earnings XXXX

offer is CFO, moment. Joining Blossman, his will today a comment me in Brandon who our

sixth allowed our headwinds portfolio pressed prices in same and of and the quarter time, diversified On headwinds pointed producing out at regions weather. commodity call services the in I, of QX us last row how those of increasing But I EBITDA. difficult our to the overcome highlighted our a geographical strong revenue

is As high we move high into and today. higher continues QX at our be optimism to frankly or

While with the of level with behind pause a you my our rationale to optimism business. the our reasons pause growth share explain want for took also in high QX, quality that I and

I start would of attention by to significant calling quarter. of morning your this events the more this like some off to

This set We further customer, previous business driven an Wireline Wireline a for high to particular for assets. which decision business proactively in interruption and temporary reduce degradation chose KPIs utilization consistently by improve grading. high of risk the this First, high-quality opportunity already business. outperforming to made and its decision therefore yielded reposition our core was

of Next, up areas metrics lines improving across EBITDA exception all of Wireline. our was with Operationally, business. other across another all service

backdrop performance remainder challenged delivered the Completion levels, normalized into high and This increases U.S and with and continued our services Wireline Rigs, utilization. of driven a the improved pricing market. is confidence results returning QX land all High-Spec by Processing has Our despite performance Other and Solutions our of in Services our to combined mild

continue forward. priority flow we be our year. Free finally, top cash moving to And for the remains well-positioned

the the maintenance in CapEx due be high-quality our base. continued lowest industry to asset one of levels to Our

for sharp as continues high-return for as small capital growth quarter XXXX investments commitments the incremental awards. the required recent to well previous satisfy of funding late downward contract its ancillary trend assets Our tail-end

that depleted be discuss work Brandon will with surely a quarter, this for free through couple will as business continued items and strong the cash but our expectations flow system met. cash combined our capital items working performance of our of these

you revenue little the quarter to more details million QX. quarter. $XX on Now X% $XX the to a million give for Total decreased from in

was While our by revenue decline Wireline of across that business. a other increases partially experienced decline revenue our areas offset

X% Rig revenue increase Specifically, rig a X% a increase uptick within driven XX improvement our in XX of High-Spec Rigs, a This rates. was our High-Spec we in by growth experienced X%. hourly hour hours. in and of experienced rig locations

that the The one did experience customer two result slowdown our XX-hour of that not rigs. growth was utilized location a of

in districts While multiyear reduction contract Permian offset upticks call. quarter's other the reduction with on two rigs than with last more completion was the across Basin that we ramp ongoing along work we of impactful XX-hour XX-hour of our discussed

On share customer. the this effective to service averaged incremental quarter, market rigs for continue for excited be pull-through with opportunities five and potential and contract we the for this

basis other and strategically contracts which stock similar pursue plans. to continue aligns we Importantly,

In regards increase driven increase rig our our to in largely hour hours. XX-hour sequential was work, by completion-related an

month-over-month We count in pleased rig across trend see are QX. XX-hour upward to our very a

Moving Completion segment. and on Other to Services our

XX down averaged QX. Our Mallard-branded in for XX Wireline business Wireline working the quarter from units

move and alternative to with Wireline to spreads goals. comments, and two with asset opening our my in shuts mentioned we that made are consistent a of core I two set strategies proactively better As the decision clients aligned pump-down

short- few impacts a on had our position and long-term business. This

it segment's exemplary activity First, the this disruption continuity caused in in our Wireline of results.

of say was historical redeployed performance to very the by XXX% the truly our I'm mid-June as this had strength start the We of assets most and highlighted Second, temporary. and disruption QX. redeployed happy it by team of

And supports now are publicly grading redistributed plan. strategy that three across high finally, diversifying high-quality decision customer traded as our this assets these and of base

revenue temporary were captured The operational by decline from segment. associated assets movements revenue. net the effect The was reporting within in XX% revenue of with remaining partially in these reduction sequential our offset services activity an and these increase a in

Given that back we QX completion units spreads from wireline all basis, dedicated nature. and working performance are this and performance our in to experience other segment, transitory pump-down we continue as XX services, on solid see

that in our down to segment minute Processing deployed. average continues pushed and a change reported saw flat Brandon A upticks Solutions accounting perform in roughly sequentially detail And to finally, installation solidly. both operationally, unit we in numbers will though

previous comments, coolers growth construction gas for QX. accepting core opening mentioned we our began QX, late my We In commitments. of through of committed continue this the segment. of Solutions of these Processing QX end at additional of I In the capital and units funding delivery will to

them, we sticking again these immediately customers. first-time quality high strategy deploying these Upon of began XX integrated our delivery, with assets customer towards global with of units placing

Moving X% QX to on to a in you XX% XX%. moment. will million margins from from Brandon million Adjusted $XX.X more earnings. decreased $XX to give by detail consolidated decreased in EBITDA while segment

backdrop, year. QX off In back on we plan event. we and have to for the trend, our results quarter fully one there expect And despite the continued summary, of a the be challenging trend exited balance are this while to be industry QX

will to Brandon. I call the turn over now

Brandon Blossman

morning everybody good here. on Thanks, and the call. Good Darron, be to to

through numbers ahead go quarter. started the the walk of and let's for So get full with

$XX $XX.X margins sequentially on mentioned $XX down while moved million to XX% down flat slightly As ticked basis, to EBITDA X% moved million $X consolidated overall from or to adjusted X% XX%. $XX million. from million EBITDA revenue million a Darron resulting down from

with a the and on segment segment. partially sequential and was At moving revenue by was Completion the which growth revenue Spec to Now decline Services, High driven Other the offset in level, in by by Rigs. starting details decrease

that of transitioning was assets quarter. from about transition customer two in a and from Services XX% spreads and or base, revenue less the these result Darron concentrated customer wireline Other revenue of to during The talked $X.X the Completion single the in resulted which segment trucks little Specifically segment, down a was two pump-down contribution million. decline

As Darron noted late sequential the in the were fully work in lines balance revenue deployed. the are all segment. currently back individual to increases business wireline of assets these of the drop QX in nearly Offsetting started and

In hourly our High in Spec X% by up or segment, rates. Rigs period X% driven revenue X% with in million a hours $X.X increase was along increase a rig revenue

XX,XXX to Specifically and went $XXX from XX,XXX per went hour. hourly hours hour per revenue from $XXX rates rig to hours

rigs QX. XX rigs The average work increase utilization, to The moved period metric increase increase in hours in QX an by but are XX-hour moving from of rig in driven in to QX. nine XX% hours XX-hour period count in the up in from was QX XX% an

our rig rigs. at For average XXX the count unchanged was quarter,

increase As no we continue previously, organically plans we to of to and fleet we took the delivery last mentioned year have build size. last revenue late this rigs

Solutions. on to Moving Processing

Here $X revenues million quarter. for were slightly down from million to $X.X the

like installation than would this completion note will forward, the at that this going done I and here contract for the past. segment installation starting of the quarter in as the be rental we've rather revenue However, to over life of recognized

utilization quarter of reduce Operationally This four gas recognition of our deployed the saw additional an the in QX an from had revenue in by coolers revenue in average policy change effect accounting MRU slight $XXX,XXX. Aggregate MRU realized XX% decrease, in offset installation rate. in rental increase a increase which and activity. X% gas by X% a to X% saw the cooler XX% rate sequential average rental was a increase

$X.X declines EBITDA Moving of corporate level margins segment million by quarter-over-quarter EBITDA adjusted on to G&A before and segment. saw XX%. consolidated or Overall

Rigs Spec decline the similar driven segment. we've in customer Here the more Wireline have Processing from mentioned, to offset discussing were and that dynamics, sequential revenue QX we High transition than and Completions Other EBITDA Services by, adjusted been at Solutions the length. decline was as gains This by

in a out here, into details, Before let which a sequential impacted to take our extent. of sidebar point cost, segments me we go increase material segment each quick the some insurance and

Relative our was volatility $X run self-insured our which costs up to medical, were do medical so benefit period-to-period. We we rate, some million. for to expect QX, historic similar

unusual. to this volatility quarter's consider However, be we

There that change aggregate single it the small sequential line rather increases. explains item was of many no one this was

for group, focused efforts do this so peer our uptick, even going benchmark will with we favorably forward. against and While expenses this on front, we this has our quarter medical optimizing at despite to continue

sidebar EBITDA for That details out margin. and segment of the the go let's down to way,

in For the partially decrease only quarter, an EBITDA Processing saw by offset $XXX,XXX $XXX,XXX and in Other Completion around which million, Rigs Services Solutions. around of and was of High Spec growth $X.X

segment XX.X%. On margins, XX.X% from front, G&A, to consolidated the again, down were corporate margin before

the in X.X% the X.X% to want do expense of point majority I the However, drop note X increase explains margin. in this of -- I’m sorry medical X.X% that

flat about margins. change on consolidated quarter-over-quarter the medical in out, have backing would basis expense us got for segment a So

to level, down reported the in Services were Completions and from segment XX% margin Other Disaggregating XX% margins XX%. QX the to down

was change in a cost decline solely absorption on fixed that lower that saw we Here, quarter-over-quarter. revenue margin in by driven

a Spec segment. saw margin held particular XX.X%. come The had note hit If the Rigs, the High slight expense in again, would've majority the in over expense decrease segment increased of the to that XX%. Though, from margin we flat this XX.X% medical medical QX,

would have from been expense. it medical for So increase an adjusting quarter-to-quarter

segment Solutions up XX%. to from moved margins Processing In XX%

in attributable expenses. increase level the is primarily Here, margin to field decrease a in

and decline contributions $XXX,XXX G&A lower accrual, bonus down that the professional corporate quarter-over-quarter, drop a adjusted Moving corporate quarter-over-quarter to coming a and expense. equal saw reduction in from expense. We salary with of reduction roughly fees to

the driven expectation performance accrual for importantly, And lowering The expense that accrual lower the G&A. the by was reduction for quarter. corporate salary bonus bonus below QX, in of

result was The efficiency equipment. this further on sale some We core a small saw adjustments of the a to functions. $XXX,XXX of the quarter. structural in G&A enhanced and in our of miscellaneous line the gain As administrative one change, adjustment limited reflecting automation increases

Moving income. down net to

offset from For a $X.X is with The decrease in segment partially G&A reported million. QX, EBITDA in by reduction QX's driven here of income as expense. a $X.X decrease by we decrease the earnings million, sequential net

to let's With the balance -- that down over the way, sheet. or to out of move

million and recorded first into CapEx Services Other $X quarter segment. our That $X.X breaks million So million. the CapEx. down Completion for to related was $X.X

So, Wireline a that and highs business includes specific segment, largely to leaseless it's Wireline with customer. for associated within our related a new items

$X million than to that was million Rigs. less related Of $X.X High-Spec

integrated of customer. a large largest segments. million, with All of is CapEx $X.X Solutions the up less our in portion Processing this $X the was for than spent associated million new gearing

continued is late and quarter the Darron coolers in the and those gas manufacturing gas released pointed As cooler this out, market. to to into be manufactured tied out

gas quarter, This coming XX and fully of expect this into the deployed move to as out, had be QX. coolers we contracted we we

for million units. of some maintenance for refrigeration quarter. given bit line committed $XXX,XXX QX, but new full in had saw $X small totaled much vehicles the year we than mechanical is a progress fully Also, CapEx the $X CapEx $XXX,XXX smaller in our right we the still quarter, and Additionally, for million magnitude, That payments in higher budget. with previously maintenance at on leased

Moving on to debt.

Our every quarter. $X.X and term that schedule – amortization moving is as per our million headline down, from we each dropped number debt

here QX that draw balance was on So initial debt. ending balance $XX.X term million that on $XX million

Liquidity, due we is that QX combination quarter-over-quarter that ended million slight million and a was liquidity of balance. down lower $XX in cash base and of with to our $X a borrowing a reduction from in QX

$X to facility. balance balance. revolving ending was million down level end similar $X from and credit the $XX $X million quarter we at That's very our had to the our on cash QX million drawn Specifically, million

Our was in eligible million down $XX receivables. slight borrowing reduction a on $XX million million base $X from to

the the far Cash in By expectations. with fall moved cash build capital we balances of In flow period. short the two well most flow a actually flow, working of short performed the quarter, well receivable quarter. for significant our falling general, of receivables saw driver our quite that out for with cash

day balances out quarter four should the at moved dollars our sales QX outstanding totaled been to dropped during combination that collected balances that days million of from XX number. two days two these days stale $X ending Excluding period, have QX. XX QX receivable Unfortunately, end ending these of

driven at during negatively inventory one cash current $XX moved by build earlier. these to a at $X of and QX temporary $X spike has combined we cash task from by gun historical expect this quarter million. The through and today AR QX peaked of down impact in two rate. the three fully quarter during in was in spike lack the items million inventory cash run $XX This that end which our These impacted QX. as reduction items continued on detailed we higher than the we Wireline to progress further a contributing was Also Wireline move inventory flow catch-up utilization million our million number

a We a the of out announced the stock comments a program prepared was allocation at rather equity program signal not have if to makes quarter. item. it not close decision, housekeeping allow buyback issuance small a This to repurchased us small million forward To-date, going intended this the dilution capital my $X shares. And will to sense. option any end offset to is but and have we that when, any

back that, Darron. hand with it over I will to And

Darron Anderson

Thank you, Brandon.

ahead behind and Looking I forward, provided us. that my business is level not now because on us, but issues our optimism high lie equally few that of the clarity this both maintains believe one-time a The opportunities only forward our for significant today one-time of Brandon comments made on have that is quarter's performance. impact issue looking

pointing in right direction. QX, entered are the all we've metrics of our As

modest to current clients base indicates and pricing us against gains Our are High-Spec high-quality segment reward of we market. Rigs our continue in that performance new for asset providing an and continues oversupply operation This them. show to the to rig

our grading segment customer this share we multiyear other a to basis market Permian base. as currently back an Wireline Services our our development. contract Similar deployment opportunities several is full various for of our at Basin high stronger has on list. Within our contractual contracts, Additionally, stages have of potential dedicated and we Permian and gains awards Completions Other business client and continue efforts to Basin even segment with new

in quarters of row performance. improved trend lines within service having three Other segment a delivered a continued positive Our the

rig Additional Services of the complementary also give opportunity rewards to segment they us pull-through lines. our benefit contract Other our as some will service

upside gas cooler will to the Within near-term our Solution from Processing the segment, characterize I customer. as business deployment first-time new global with a stable integrated

our growth next drive our further develop. asset reviewing finally, balance of peers, over base. at Looking cleaner opportunity existing strategically our even team execute, quarters, that and greater as will business we deleverage opportunities could amongst sheets few one is for this to strategic And the demand the continue

is amongst I exist. needed consolidation of services, hurdles U.S. mini think we all land that agree reality the but

us and We when cash feel that, that options line-of-sight capital going high-quality discipline for good on assets, reason allow to processes key cannot attributes others my flow, efficient are our continued execute forward. high-level operations, optimism another strategic

for This concludes our prepared remarks. open call And questions. operator, we'll now the

Operator

you. Thank

Please from Simmons from [Operator first We question Instructions] begin go the will session. ahead. now question-and-answer Our comes Daniel John & Company.

John Daniel

appreciate Hey, Thank many the Darron and companies quarter. Brandon I granularity this do Not really you. great, that.

appreciated. So it's

Darron Anderson

Thank you.

John Daniel

million potentially that Brandon, is that my number first question on is from? the there -- on referenced, wireline that same customers, that is if so, risk you the a $X AR away receivable? And the that took you units

Brandon Blossman

want risk risk is it… The So, don't is answer there of same It there. I on one yes. receivable, the customers. potentially the is a the to certainly sugarcoat

John Daniel

…Right.

Brandon Blossman

But expect paying And the balance good they so. news continue to do been we is fairly regularly. have them that down their to

John Daniel

…Okay.

Brandon Blossman

And we it it go throughout the number has quarter. been. lower looks continue than that they is can but to the lower bad So expect

John Daniel

well then more. two Appreciate I that. Fair got And -- enough.

Just CapEx. on the

you be Can call to growth growth thoughts you had the growth referenced then, CapEx the CapEx? and second what speak cadence. in last on, sort early half, the just slowing On might XXXX of CapEx

Brandon Blossman

Yeah.

that we So, the getting preprogram program, left it on is again here. couple that. XXXX, CapEx done And $X we're year a a full have million all One, items. still There's quickly all…

John Daniel

…Okay.

Brandon Blossman

Processing … Solutions. in

totality the should is that continue So $X have or million. sub-million dollar what that cadence. is quarter million approved at CapEx -- we per in Maintenance

that approved. then, may Darron to CapEx is let come I'll that currently incremental not speak up And any

Darron Anderson

tied need Most BOPs awards XXK drill where be to Any that contract of or to potential on longer-term nature. may really to tied CapEx incremental we Yeah. something likely contract doesn't awards. have

far So, additional for new growth as there's CapEx a program else John. awards nothing as except from permit again contract

John Daniel

everything it I it hearing is your commentary QX financial And expectation over. through feel fair you know or like next quick that ones turn like I here. mean, you the bit two a giving But, Okay. -- specific just assessment? QX. a walk than guys Is got then, don't Again, call. better guidance I'll does I

Brandon Blossman

coming our within much assessment. the fair run mean the month than very that's I two of previous John, QX, was exit Yeah months stronger last quarter. rate out a

optimism a optimism. of high was again level to QX in it we -- call come So, QX

sit we the hasn't I continue changed. month as one behind to think with that here us

John Daniel

needed. one, a talked the it's of everyone knows then And about everyone Okay. respect poll sure. just But last just to consolidation But to it for happen. chance obviously the kind you up has doesn't on it, ever seem button sit pretty with to

okay sector, business consequential basis? for your think you notwithstanding, the on is a hope don't see we if doing any well service relative consolidation, Do there's

Brandon Blossman

hate Go sorry? I'm you'll ahead, Well, that if happens.

John Daniel

think you happens, actually do it I And guess?

Brandon Blossman

Well, and that it it has they does saying, If it's we've happen going to time happen. not I've years got need But John, been for to the now's as horrible. happened. to ever happen said are

I look you a of of working wells needed. type a the on that asset these it's been -- type on base different conversations when day, we've And before, have know had that's

needed. consolidation the out attained. there while It's of future viability is that of lot be yes can So, assets those what assets. Yes there's

So, I going can't trying start now…. And not predict I'm the to future.

John Daniel

…Yeah.

Brandon Blossman

took was ourselves put for have and this free execution, after sheet, opportunities. presented conservative accident. care sight themselves here flow. balance we we of want cash get in participate position by specific line We things of by right This growth, targeted strategy didn't those of alternatives to And in those we

John Daniel

quarter. And Okay. the this thank you granularity Again your time. I for in appreciate

Brandon Blossman

you. Thank

Darron Anderson

John. Thanks,

Operator

Johnson comes Our Rice. sir. Daniel from from next Burke ahead, question Please go

Daniel Burke

morning, good Yeah, guys.

Darron Anderson

Daniel. morning, Good

Daniel Burke

that Or stronger is did to simply question, of a to across units your active Wireline just June than just observe really I the service? a June service portfolio? much two return prior broader you stronger pen Darron the because to you the one mentioned curious John's was -- was Maybe months. of

Darron Anderson

No.

combination the there. coming of a contributor. services in business was both. was too our captured the that I rest even as three our mentioned, within But the Definitely a in Services Other of row those quarters it performance think had line back others return we've well of improving service and I on as Completion

hang to June continue the in there Rigs well of for month too.

we So that on from contribution Wireline also across earlier the assets the were in a down upticks saw the side. but laid quarter the definitely portfolio,

Daniel Burke

this amount How business That's be a allocation just I'll XXXX right. Solutions? on it maybe segment, large has the in mean, capital in trying helpful. possible could Processing for one growth what next of I And to scale capital All ask line Just and what could a it the is of that decent opportunity then one your for years? smallest Okay. be but there a other attracted couple of environment? set growth year. level

Darron Anderson

good We like that been us. business. It's performer for a

that the off. for stable It's margins business the us. see You A business predictable. throws

great last So XXXX, think the growth all CapEx That's we Yes, geared million across we this down pretty much it for $X is and XXXX attributes. XXXX. and spread into said that for towards that. really wind as segment

As again, the But think going to in there be we to there. I conservatively to even across XXXX, stay going entering entire we portfolio roll opportunities I are think are XXXX.

We some have the services. can our in built and side other utilization of that be on still rig

So while back conservative on be will CapEx the a will growth turn on it XXXX, we basis.

Daniel Burke

guys. time. there I'll Got you it for it. live the Thank

Darron Anderson

Daniel. Thanks,

Operator

comes Thomas FBR. Our from ahead, next B. Please from go Curran question Riley sir.

Thomas Curran

guys. morning, Good

Darron Anderson

Good morning.

Brandon Blossman

Hi, Tom.

Thomas Curran

customers working XX many at point? all full that XX Darron, different how with units returned are working, to for Mallard has those utilization now this

Darron Anderson

more customer working not any there's gosh, units than would for I three today. Oh them with say

to count So say five five here, to I'd customers. but I talking quick customers. you're can probably six six real

Thomas Curran

are upgraded users the operators early the blue-chip high-quality active and that Concho of I think both companies are And remained incremental? established as emerged they of customers? two new out emerged -- yours, you have and the Are among they that fans with, of Pioneer, Are there. most both these when remained have some

Darron Anderson

upgrade blue-chip described. to of was you our we two just similar of that customer What customers existing base soft

Thomas Curran

Okay.

blue-chip go have So operators? existing additional you did units to

Darron Anderson

blue-chip share customer sir. yes, base, market our existing with gained We

Thomas Curran

Great.

curious the companies, you know of or to part expectations spring? encouraging as to Turning sponsored of to have ongoing pipeline seen it valuation the you private how consideration? I'd have prospects the have comes And family-owned to of M&A be a signs effort openness when specifically since evolved PE continued underway. accepting any equity

Darron Anderson

good So question.

say our you expectations M&A think think description now. exactly of But the M&A would are reality. about think I wouldn't valuation I processes you processes about Your right into is I that what when when becoming private, those the yes, describe more PE,

people that who think market parties U.S. And are continues I for out the of looking you has difficult of market. a I a options. been tough it a as that, and market at think to result be have land service a there lot

Ranger that think viable we're I a option.

imbalance to continue execute think last we've the still not we be to that I few we've proven that the we're for All gotten attributes the authorization disciplined. months that increase. that level we going to market have over and the of

and that So get balance we're rings to won't standpoint of and the curve trying say more phone a our we're position while a that want ourselves something in authorization I execute I we this actively sheet the say here. on would to lot from

So that's figure have we'll right what are and do. being that's the to to going come ahead of there thing us. options Whether opportunities strategically the to all selling from many we acquired present is out us

Thomas Curran

would percentage completion-related on then you update well work? XQ? What service rig us -- Okay. Good on of And side to Brandon, came for from the hear. revenues

Brandon Blossman

I Let's give for versus see you can I that have production. of that don't front we completion in Tom, have to if off-line -- me.

next we probably you XX the get have seconds. can question If it in another

Thomas Curran

Sure. All right.

Brandon Blossman

I off-line give your choice. it to you it's

Thomas Curran

second curious you just I guidance the Well, growth give XQ for CapEx maintenance or all-in while plus for all-in you Brandon you range? half so are joined did late or looking

Brandon Blossman

we that approved planned new a not new going did $X.X in because shy and that so and we is So contracts deployments. previously with gun little CapEx an I'm --I'm it associated call rig million incremental had QX have to

it's very opportunistic. So

essentially maintenance services worth an a for go-forward basis CapEx segment So is approximately yet per outside quarter. is million a do residual we not approved incremental that $X on not sorry, of an have processing absolutely $X our of what and -- million incremental

would forward to those So like per less $X have stakes than and success and looks caveat small to on rig come high XX- growth point incremental I side million contracted only is $X CapEx end continue high of rigs XXXX. The margin say million we XX-hour with of the lot contracted quarter. approved the may daylight-hour and that through CapEx a

Thomas Curran

Okay. And that residual expect that incur million $X to would XQ? you in of all

Brandon Blossman

Yes. Yes.

Thomas Curran

Okay.

Brandon Blossman

Sorry, Tom. Yes, XX.

Thomas Curran

Did you find it?

Brandon Blossman

Yes. just second. Hang on one

Thomas Curran

Sure.

Brandon Blossman

it for completion Tom, looks even revenue it the for production a does split versus XX-XX like quarter. rig on

Thomas Curran

taking questions, Terrific. guys. Thanks for my

Brandon Blossman

Thanks.

Darron Anderson

Thank you.

Operator

[Operator Instructions] This concludes for our question-and-answer session. I over would like to remarks. Darron to turn closing the conference Anderson back any

Darron Anderson

I information their thank had quite hopefully to of everyone just nice in for so participation delivered wanted and queue interest support. call high We we people hear. a want the the the to today you and continued was

thank next Ranger we outstanding and quarter. talking look Thank to and So you you the employees to you all thank of you, operator. to forward to you

Operator

you. for has now conference Thank The concluded. attending Thank presentation. you today's

You day. may And your enjoy the disconnect. of rest now

Ranger Energy Services (RNGR) 26 Jul 192019 Q2 Earnings call transcript