Ranger Energy Services (RNGR) is planning to raise $85 million in an IPO on Friday, August 11th, IPO Scoop reports. The company will be issuing 5,000,000 shares at $16.00-$18.00 per share.

In the last 12 months, Ranger Energy Services generated $77.1 million in revenue and had a net loss of $9.8 million. Ranger Energy Services has a market-cap of $126.1 million.

Credit Suisse, Simmons & Company International (Energy Specialists of Piper Jaffray) and Wells Fargo Securities acted as the underwriters for the IPO and Barclays, Evercore ISI, Capital One Securities, Johnson Rice & Company, Raymond James and Scotia Howard Weil were co-managers.

Ranger Energy Services provided the following description of their company for its IPO: “We are one of the largest independent providers of high-spec well service rigs and associated services in the United States, with a focus on technically demanding unconventional horizontal well completion and production operations. We believe that our fleet of 68 well service rigs is among the newest and most advanced in the industry and, based on our historical rig utilization and feedback from our customers, we believe that we are an operator of choice for U.S. onshore E&P companies that require completion and production services at increasing lateral lengths “.

Ranger Energy Services was founded in 2014 and has 663 employees. The company is located at 800 Gessner Street, Suite 1000, Houston, TX 77024, US and can be reached via phone at (713) 935-8900 or on the web at http://www.rangerenergy.com.

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