HOUSON, TX - Ranger Energy Services is pleased to announce the successful completion of its acquisition of STEP Energy Services' U.S. Coiled Tubing assets, positioning Ranger as the second-largest U.S. Coiled Tubing operator.

This acquisition expands Ranger's presence across multiple basins with an exceptional team of professionals dedicated to serving our customers safely and effectively. With Ranger and STEP's Coiled Tubing operations working as one, it will allow for a united reputation of safety and operational excellence, as we deliver Coiled Tubing solutions to our customers.

"We look forward to working together to build one of the largest and most capable, Coiled Tubing fleets in the U.S.," said Stuart Bodden, CEO and President of Ranger.

The integration of STEP's U.S. Coiled Tubing operations, experienced personnel, established customer relationships, and operational expertise complements Ranger's existing position as the largest well-service provider in the lower 48.

As we move forward with our integration process, Ranger remains focused on ensuring a smooth transition for employees and customers while maintaining high standards of safety, reliability, and operation excellence that both Ranger and STEP practice.

This acquisition further supports Ranger's long-term strategy of creating value for customers, employees, and shareholders.