Ranger CEO Darron Anderson Leaves Company for New Opportunity

Ranger Energy Services Inc. recently announced Darron Anderson is leaving the company for an undisclosed new opportunity.

In the interim, the board of directors of Ranger, an independent provider of well service rigs and associated services in the U.S. based in Houston, appointed Board Chairman Bill Austin as CEO. The company said in a June 9 release that the board engaged an executive search firm to assist with the recruitment of a new permanent CEO to replace Anderson, who Ranger’s president and CEO and as a member of its board of directors since March 2017.

“The last four years have been extremely rewarding,” Anderson said in a statement on June 9. “To be part of the team that has developed Ranger into a leading U.S. services company, during very difficult market conditions, is something I’m quite proud of.”

Anderson began his career in the oil and natural gas industry as a drilling engineer for Chevron USA in 1991 and has subsequently held positions of increasing responsibility in the oil and natural gas and oilfield services industries.

After joining Ranger, Anderson took the company public, leading it through a successful IPO. More recently, he has helped grow Ranger through acquisitions, including its all-stock purchase in May of Patriot Completion Solutions LLC, a portfolio company of White Deer Energy LP.

At the time of the Patriot deal, Ranger said it “continues to pursue additional accretive strategic transactions,” which management indicated could close within the next couple of months.

“As I leave for another opportunity, I’m departing with the highest level of confidence in Ranger and the entire leadership team,” Anderson continued in his statement. “I firmly believe the level of success achieved by Ranger to date is simply a fraction of what’s to come.”

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Following his departure, Anderson will no longer serve on Ranger’s board of directors.

In a statement, Austin, who will continue to serve as board chairman while he serves as interim CEO, thanked Anderson for leadership dating back to its IPO through the development of what Ranger has become today.

Austin has served as a member of Ranger’s board since May 2017. He has more than 40 years’ experience in varying industries, including oilfield services, according to the Ranger release.

“I look forward to working with the Ranger leadership team whom I’ve gotten to know very well over the last several years,” Austin said in his statement. “We are excited for the future and to capitalize on the strong market position we currently hold.”

Additionally, Austin noted that Ranger’s balance sheet continues to afford the company access to multiple growth and acquisition opportunities.

“Our recent Patriot acquisition, along with a host of other potential targets, demonstrates the strategic opportunities available to Ranger and our ability to execute when many others cannot,” he added.