Ranger Energy Services expands ECHO rig fleet with Hess Corporation contract

• Ranger Energy Services (NYSE:RNGR) has secured a contract with Hess Corporation—a subsidiary of Chevron (NYSE:CVX)—to deploy three additional ECHO hybrid workover rigs.
• The new rigs, designed with specialized winterization packages, are scheduled for delivery in 2027 and are expected to operate in the Bakken formation.
• Following this expansion, Ranger expects its total active ECHO rig fleet to reach 20 units by the end of 2027.

Ranger Energy Services (NYSE:RNGR) announced a new agreement to provide three additional ECHO hybrid workover rigs to Hess Corporation (a subsidiary of Chevron (NYSE:CVX)), marking a continued expansion of its electrified rig fleet.

This development follows the initial 2025 introduction of the ECHO platform, which the company characterizes as the industry’s first Hybrid Double Electric Workover Rig.

These specific units will be equipped with winterization features for operations in the Bakken, supporting the company's broader strategic goal of fleet conversion and electrification.

The company stated that the contract aligns with its "Lead the Way" culture and its commitment to improving operational efficiency and safety.

Ranger Energy Services provides specialized mobile rig, wireline, and ancillary services across the lifecycle of oil and gas wells, from completion through to abandonment.

With the addition of these three rigs, the company anticipates that its total active ECHO fleet will grow to twenty units by the conclusion of 2027.