Ranger Energy Services Announces Leadership Transition

Source: www.gulfoilandgas.com 6/9/2021, Location: North America

Ranger Energy Services, Inc. (RNGR) (“Ranger”) announced 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.


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