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Gordon Brothers to Lead Ranger Energy Services’ Liquidation of Former Basic Energy Services Assets

October 28, 2021, 07:36 AM
Filed Under: Industry News
Related: Gordon Brothers

Gordon Brothers will serve as Ranger Energy Services Inc.’s agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services Inc. bankruptcy process.

Gordon Brothers will dispose of assets including, but not limited to, 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,” said Bob Maroney, President, Commercial & Industrial at Gordon Brothers. “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,” said Stuart Bodden, CEO at Ranger Energy Services. “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.”

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