RNGR · 10-Q · 2026Q1 · Full report

Operating Capacity and Utilization

Ranger Energy Services, Inc. · 2026-04-28 · Importance 72 · Surprise 74

Ranger uses rig hours and stage counts as key activity indicators: High Specification Rigs rig hours increased to 145,400 in Q1 2026 from 115,700 in Q1 2025, supporting the year‑over‑year revenue gain in that segment. Wireline stage counts fell 47% to 740, materially reducing completion services revenue and reflecting weaker discretionary completion demand. Higher activity and the AWS acquisition also drove increases in employee labor and repair & maintenance spend for rigs and processing lines. The Company is executing a mix of activity alignment (e.g., reorganizing the Wireline completion service line) and capital investment to match utilization shifts.

Key facts

• Rig hours increased to 145,400 for the three months ended March 31, 2026 from 115,700 for the three months ended March 31, 2025.