M&A Deal Summary

Ranger Energy Services Acquires American Well Services

On November 10, 2025, Ranger Energy Services acquired oil/gas exploration company American Well Services from Argonaut Private Equity

Acquisition Highlights
  • This is Ranger Energy Services’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Ranger Energy Services’ 6th transaction in the United States.
  • This is Ranger Energy Services’ 3rd transaction in Texas.

M&A Deal Summary

Date 2025-11-10
Target American Well Services
Sector Oil/Gas Exploration
Buyer(s) Ranger Energy Services
Sellers(s) Argonaut Private Equity
Deal Type Add-on Acquisition

Target

American Well Services

Midland, Texas, United States
American Well Services provides well service rigs for workover or completions operations and well site support services including, fluid transfer, hot oiling, frac tank rental, and wellsite construction. American Well Services is based in Midland, Texas.

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Buyer(S) 1

Buyer

Ranger Energy Services

Houston, Texas, United States

Category Company
Founded 2014
Sector Energy Services and Equipment
Employees1,950
Revenue 571M USD (2024)
DESCRIPTION

Ranger Energy Services is a provider of well service rigs and associated services, with a focus on unconventional horizontal well completion and production operations. Ranger Energy Services was founded in 2014 and is based in Houston, Texas.


DEAL STATS #
Overall 6 of 6
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
State: Texas M&A 3 of 3
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-16 Basic Energy Services

Fort Worth, Texas, United States

Basic Energy Services is a provider of well-site services for oil and gas exploration and production companies. These services are fundamental to establishing and maintaining the flow of oil and gas from a well throughout its life cycle. Basic Energy Services was formed in 1992 and is based in Fort Worth, Texas.

Buy $37M

Seller(S) 1

SELLER

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 12 of 12
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 7
State: Texas M&A 4 of 4
Country: United States M&A 12 of 12
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-26 Pryer Aerospace

Tulsa, Oklahoma, United States

Pryer Aerospace is a manufacturer of complex aerospace components, specializing in engineering, assembly, and precision machining for the commercial, defense, and space markets. Pryer Aerospace was formed in 1965 and is headquartered in Tulsa, Oklahoma.

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