Ranger Energy Services, Inc. (Ranger), a leading provider of well service rigs and associated services to the oil and gas industry, is announcing the successful closing of a new asset-based lending facility (ABL) with Wells Fargo Bank, N.A, as administrative agent and sole lender. The facility includes US$75m of committed liquidity and features an accordion that allows for potential expansion up to US$150m to support future growth opportunities. Under the terms of the agreement, the ABL will have a tenor of five years, providing Ranger with enhanced financial flexibility and support for its strategic initiatives.
