Gordon Brothers will serve as Ranger Energy Services’ agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services bankruptcy process.
Gordon Brothers will dispose of assets such as light duty vehicle and tractor fleets, workover rig engines and transmissions and related ancillary and support equipment excess to Ranger Energy Services’ continuing operations.
“Gordon Brothers is pleased to provide a creative solution and assist Ranger in the disposition of these assets,” Bob Maroney, president of commercial and industrial at Gordon Brothers, said. “This is an exciting part of a broader strategy to create value, maximize liquidity and support growth for our client.”
“Ranger Energy Services is looking forward to working with Gordon Brothers in a joint effort to quickly and efficiently monetize this significant quantity of idle assets,” Stuart Bodden, CEO of Ranger Energy Services, said. “We appreciate Gordon Brothers’ vision in bringing a creative, structured solution to the table and facilitating an additional source of value capture in our Basic Energy Services transaction.”