Ranger Energy Services falls on Basic Energy Services buy

Ranger Energy Services

17/09/2021 16:19

** Shares of oilfield services firm  RNGR.N  down 1.8% at
$8.32 in early trading
    ** Co to acquire Basic Energy Services assets from Chapter
11 bankruptcy, RNGR said on Thursday  urn:newsml:reuters.com:*:nBw2d2S7za
    ** RNGR's winning bid at a competitive auction conducted by
Basic Energy was for $36.65 mln
    ** Co expects to pay the cash purchase price with proceeds
from private placement
    ** The transaction is expected to be concluded by the end of
September
    ** Stock has more than doubled YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))