RNGR · 10-Q · 2026Q1 · Full report

Product Launch and Transition

Ranger Energy Services, Inc. · 2026-04-28 · Importance 77 · Surprise 82

Investing activity increased materially as construction in progress rose for the build‑out of ECHO hybrid rigs, driving higher cash used in investing activities in Q1 2026. The Company notes increased construction in progress relative to the prior year period as it expands its fleet with hybrid rig technology, indicating a strategic product/asset transition. This investment activity is intended to support longer‑term capacity and operational efficiency for High Specification Rigs services. The build‑out timing and capital deployment are a notable near‑term use of cash tied to the fleet modernization strategy.