How many rigs will Ranger supply to Chevron?

Three additional ECHO hybrid rigs.

What is the contract value?

The financial terms were not disclosed.

Ranger Energy Wins Chevron Contract for 3 More ECHO Hybrid Rigs

Q: Where will these rigs be deployed?

Across the Lower 48 United States.

Ranger Energy Services has been awarded a contract by Hess Corporation, a wholly owned subsidiary of Chevron, to provide three additional ECHO hybrid workover rigs for operations across the Lower 48 United States.

July 14, 2026

2 min read

Source: InvestorsHub

Ranger Energy Services (NYSE:RNGR) announced a new contract with Hess Corporation, a wholly owned subsidiary of Chevron Corporation (NYSE:CVX), to supply three additional ECHO hybrid workover rigs. These rigs will be deployed for workover and completion operations in the Lower 48 states.

The Product

The ECHO hybrid rig is a next-generation workover rig that combines electric and conventional power, reducing fuel consumption and emissions. It offers improved efficiency and safety while lowering the carbon footprint in oilfield operations.

Pricing and Availability

Financial terms of the contract were not disclosed. Delivery schedules have not been announced, but the rigs are expected to enter service in the coming months.

Competition

Ranger faces competition from other oilfield service companies like Halliburton and Patterson-UTI, but the ECHO hybrid technology gives it a competitive edge in a market increasingly focused on sustainability.

Potential Impact on the Company

This contract strengthens Ranger's position as a leading provider of hybrid rigs and boosts its future revenue as it expands its fleet. It also reflects Chevron's confidence in Ranger's technology.

Frequently Asked Questions

The ECHO hybrid rig is a next-generation workover rig that combines electric and conventional power to reduce fuel consumption and emissions.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.