Ranger Energy Services (NYSE:RNGR) has been awarded a new contract by Hess Corporation, a wholly owned subsidiary of Chevron Corporation (CVX), to supply three additional ECHO hybrid workover rigs for operations across the Lower 48 United States.
The agreement expands Ranger’s next-generation rig fleet and strengthens its relationship with one of the country’s largest energy producers.
Three New Rigs Scheduled for 2027 Delivery
The additional ECHO rigs are expected to be delivered during 2027 and will include winterization packages designed for operations in the Bakken region, allowing them to operate efficiently in harsh weather conditions.
Following the deployment of the new units, Ranger expects its active ECHO fleet to increase to 20 rigs by the end of 2027.
ECHO Platform Continues to Expand
Ranger launched its ECHO workover rig platform in 2025, describing it as the industry’s first hybrid double-electric workover rig.
The company delivered its first two ECHO rigs during the same year and has continued expanding the fleet as demand for more efficient well-service equipment grows.
Chevron Agreement Supports Modernisation Strategy
Chief Executive Officer Stuart Bodden said the latest agreement reflects continued momentum for the company’s advanced well-service technology.
“We are pleased to collaborate with Chevron as Ranger continues to advance the modernization of the well services sector,” Bodden said.
“This agreement with Chevron further supports the advancement of the ECHO platform.”
The company believes the contract reinforces its strategy of providing lower-emission, technology-driven solutions for the U.S. energy industry while supporting customers seeking to modernise their field operations.