Ranger Energy Services Inc. has announced a significant development with the launch of the industry's first Hybrid Double Electric Workover Rig, known as the ECHO rig. This innovative project highlights Ranger's commitment to enhancing operating efficiency, safety, and reducing emissions. The company has successfully contracted both ECHO rigs with major U.S. operators, which include provisions for a return on capital investment and options for additional rigs, indicating strong market demand. The rigs, expected to be delivered by the third quarter of 2025, are designed to operate with zero emissions when connected to well site power and feature advanced technologies like regenerative braking, real-time diagnostics, and AI support for enhanced performance and safety.
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