Ranger Energy acquires Basic assets; acquired business had $138.9M net loss in 2020

Ranger Energy Services, Inc.

Acquired Basic business revenue fell 50% YoY to $169.4M in 2020 from $337.5M in 2019.
Net loss of $138.9M in 2020, including $67.1M impairment and $59.9M long-lived asset impairment.
Acquired business operating loss $138.5M in 2020 vs $38.3M in 2019.
Total assets of acquired business were $104.9M at Dec 31, 2020, down from $207.4M a year earlier.
Parent company equity in acquired business dropped to $46.4M from $148.4M.

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