Ranger Energy Services, a provider of well service rigs and associated services to the oil and gas industry, closed a new $75 million asset-based lending facility with Wells Fargo as administrative agent and sole lender.
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.
Eclipse Business Capital provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to Ranger Energy Services.
Ranger Energy Services received a debt commitment letter from Eclipse Business Capital for a new $77.5 million credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility.
Ranger Energy Services completed its initial public offering of Class A common stock on August 16, 2017, raising $85 million in gross proceeds. Wells Fargo served as administrative agent for a $50 million credit facility to support the transaction.