Business Context and Reporting Period
This Form 8-K filing by Ranger Energy Services, Inc. (Delaware) was submitted on December 4, 2018, reporting events that occurred on November 28, 2018. The filing addresses significant changes in executive leadership and organizational structure.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes.
Material Changes
- Elimination of COO Role: The Chief Operating Officer position was eliminated. J. Matt Hooker, the former COO, will remain with the company as Senior Vice President, overseeing Rig, Snubbing, Well Testing, Logistics, and Rental service offerings.
- Appointment of CAO: Mario H. Hernandez, the Company's Controller since May 2017, was appointed Chief Accounting Officer (CAO) effective November 28, 2018.
- Departure of CFO from CAO Role: Brandon Blossman, Chief Financial Officer, stepped down from the concurrent role of CAO.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. It notes that no material plan, contract, or arrangement has been entered into with Mr. Hernandez regarding his appointment as CAO; an amended Form 8-K will be filed if such actions are taken. No specific risks or contingencies are detailed in this report.
Investor Verification Checklist
- Verify the operational impact of eliminating the COO role on the Rig, Snubbing, and Well Testing divisions.
- Monitor for a future amended Form 8-K regarding any material compensation agreements for the new CAO.
- Confirm the continued stability of the financial reporting function under the new CAO leadership.