RNGR - Ranger Energy expands wireline services business in all-stock deal

Ranger Energy Services ([[RNGR]] +11.4%) surges as it agrees to acquire Perfx Wireline Services, its second wireline acquisition in the last several weeks.Ranger says the first acquisition, for Patriot Completion Services, closed on May 14 while the PerfX deal closed yesterday.For the combined purchases, Ranger says it has issued 2.25M common shares and assumed $12M of light duty vehicle leases and rolling-stock associated term debt.The combination of Patriot and PerfX posted Q1 revenues of $30M, which is 78% higher than Ranger's reported total company revenue of $38M.Last month, Ranger announced the departure of CEO Darron Anderson, with Chairman Bill Austin now serving as interim CEO.

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Ranger Energy expands wireline services business in all-stock deal