8-K - RNGR - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): June 9, 2021

Ranger Energy Services, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware	001-38183	81-5449572
(State or other jurisdiction<br><br>of incorporation)	(Commission<br><br>File Number)	(IRS Employer<br><br>Identification No.)
10350 Richmond, Suite 550<br><br>Houston, Texas 77042<br><br>(713) 935-8900<br><br>(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (713) 895-8900

Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, $0.01 par value	RNGR	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of

Principal Officers

On Wednesday, June 9, 2021, Ranger Energy Services, Inc. (“Ranger” or the “Company”) announced that Darron Anderson, Chief Executive Officer and Director, is departing the Company after leading Ranger for the last four years, and is effective July 11, 2021. The Board of Directors has appointed the Company’s Chairman of the Board, Bill Austin, as interim Chief Executive Officer (“CEO”). Mr. Anderson will no longer serve on the Company’s Board of Directors.

Mr. Austin has served as a member of Ranger’s Board of Directors since May 2017 and will continue to serve as Chairman of the Board of Directors while he serves as interim CEO. Mr. Austin has more than 40 years of experience in varying industries, including oilfield services. Mr. Austin currently serves as a member of the board of directors of Stallion Oilfield Services, a position he has held since October 2017, and was formerly a member of the board of directors of Nuverra Environmental Solutions, Inc. and Express Energy LLP. Mr. Austin served as Executive Vice President and Chief Financial Officer of Exterran Holdings from December 2011 until April 2014, and he also served as Senior Vice President and Director of Exterran GP, LLC from April 2012 until April 2014.

Item 9.01 Financial Statements and Exhibits

Exhibits.

Exhibit No.	Description
99.1	Press Release dated June 9, 2021
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

THE INFORMATION FURNISHED UNDER ITEM 9.01 OF THIS CURRENT REPORT, INCLUDING EXHIBIT 99.1 ATTACHED HERETO, SHALL NOT BE DEEMED “FILED” FOR THE PURPOSES OF SECTION 18 OF THE SECURITIES AND EXCHANGE ACT OF 1934, NOR SHALL IT BE DEEMED INCORPORATED BY REFERENCE INTO ANY REGISTRATION STATEMENT OR OTHER FILING PURSUANT TO THE SECURITIES ACT OF 1933, EXCEPT AS OTHERWISE EXPRESSLY STATED IN SUCH FILING.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Ranger Energy Services, Inc.
/s/ J. Brandon Blossman	June 14, 2021
J. Brandon Blossman	Date
Chief Financial Officer
(Principal Financial Officer)

Document

Exhibit 99.1

Ranger Energy Services, Inc. Announces Leadership Transition

HOUSTON, TX--(June 9, 2021) - Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today that Darron Anderson is leaving the Company after leading Ranger for the last four years. The Board of Directors has appointed the Company’s Chairman of the Board, Bill Austin, as interim CEO. The Board has engaged an executive search firm to assist with the recruitment of a new permanent CEO.

Mr. Austin has served as a member of Ranger’s Board of Directors since May 2017 and will continue to serve as Chairman of the Board of Directors while he serves as interim CEO. Mr. Austin has more than 40 years’ experience in varying industries, including oilfield services. Mr. Austin currently serves as a member of the board of directors of Stallion Oilfield Services, a position he has held since October 2017, and was formerly a member of the board of directors of Nuverra Environmental Solutions, Inc. and Express Energy LLP. Mr. Austin served as Executive Vice President and Chief Financial Officer of Exterran Holdings from December 2011 until April 2014, and he also served as Senior Vice President and Director of Exterran GP, LLC from April 2012 until April 2014.

“I look forward to working with the Ranger leadership team whom I’ve gotten to know very well over the last several years. We are excited for the future and to capitalize on the strong market position we currently hold. Ranger’s balance sheet continues to afford us access to multiple growth and acquisition opportunities. Our recent Patriot acquisition, along with a host of other potential targets, demonstrates the strategic opportunities available to Ranger and our ability to execute when many others cannot. I personally want to thank Darron for his leadership dating back to our IPO through the development of what Ranger has become today” said Mr. Austin.

“The last four years have been extremely rewarding. To be part of the team that has developed Ranger into a leading US services company, during very difficult market conditions, is something I’m quite proud of. As I leave for another opportunity, I’m departing with the highest level of confidence in Ranger and the entire leadership team. I firmly believe the level of success achieved by Ranger to date is simply a fraction of what’s to come” said Mr. Anderson.

Mr. Anderson will no longer serve on the Company’s Board of Directors.

About Ranger Energy Services, Inc.

Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides services necessary to bring and maintain a well on production. The Processing Solutions segment engages in the rental, installation, commissioning, start-up, operation and maintenance of MRUs, Natural Gas Liquid stabilizer and storage units and related equipment.

Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by Ranger Energy Services, Inc. with the U.S. Securities and Exchange Commission, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Company Contact:

J. Brandon Blossman

Chief Financial Officer

(713) 935-8900

Brandon.Blossman@rangerenergy.com