Equity	9 Months Ended
Sep. 30, 2022
Equity [Abstract]
Equity	Note 11 — Equity Series A Preferred Stock On September 10, 2021, the Company consummated the private placement, under the Securities Purchase Agreement, with certain accredited investors of 6.0 million newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share, in exchange for cash consideration in an aggregate amount of $42 million. The transaction closed on October 1, 2021 and during the nine months ended September 30, 2022, the Preferred Stock automatically converted into shares of the Company’s Class A Common Stock, on April 18, 2022, upon effectiveness of the registration statement filed on Form S-1 by the Company on March 31, 2022 (File No. 001-699-039). Equity-Based Compensation In 2017, the Company adopted the Ranger Energy Services, Inc. 2017 Long Term Incentive Plan (the “2017 Plan”). The Company has granted shares of restricted stock (“restricted shares” or “RSAs”) and performance-based restricted stock units (“performance stock units” or “PSUs”) under the 2017 Plan. Restricted Stock Awards The Company has granted RSAs, which generally vest in three equal annual installments beginning on the first anniversary date of the grant. During the three and nine months ended September 30, 2022, the Company granted approximately 67,400 and 484,600 RSAs, respectively, with an approximated aggregate value of $4.8 million. During the three and nine months ended September 30, 2021, the Company granted approximately 145,200 and 645,300 RSAs, respectively, with an aggregate value of $4.2 million. As of September 30, 2022, there was an aggregate $5.2 million of unrecognized expense related to restricted shares issued which is expected to be recognized over a weighted average period of 1.8 years. Performance Stock UnitsThe performance criteria applicable to performance stock units that have been granted by the Company are based on relative total shareholder return, which measures the Company’s total shareholder return as compared to the total shareholder return of a designated peer group, and absolute total shareholder return. Generally, the performance stock units are subject to an approximated three-year performance period. During the nine months ended September 30, 2022, the Company granted approximately 91,500 target shares of market-based performance stock units at a relative and absolute grant date fair value of approximately $14.11 and $12.69 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on December 31, 2024. During the three and nine months ended September 30, 2021, the Company granted approximately 100,900 and 246,200 target shares, respectively, of market-based performance stock units at a relative and absolute grant date fair value of $9.24 per share and $7.45 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on March 15, 2024. As of September 30, 2022, there was an aggregate $1.4 million of unrecognized compensation cost related to performance stock units which are expected to be recognized over a weighted average period of 1.7 years.

Equity

9 Months Ended

Sep. 30, 2022

Note 11 — Equity

Series A Preferred Stock

On September 10, 2021, the Company consummated the private placement, under the Securities Purchase Agreement, with certain accredited investors of 6.0 million newly issued shares of Series A Convertible Preferred Stock, par value $0.01 per share, in exchange for cash consideration in an aggregate amount of $42 million. The transaction closed on October 1, 2021 and during the nine months ended September 30, 2022, the Preferred Stock automatically converted into shares of the Company’s Class A Common Stock, on April 18, 2022, upon effectiveness of the registration statement filed on Form S-1 by the Company on March 31, 2022 (File No. 001-699-039).

Equity-Based Compensation

In 2017, the Company adopted the Ranger Energy Services, Inc. 2017 Long Term Incentive Plan (the “2017 Plan”). The Company has granted shares of restricted stock (“restricted shares” or “RSAs”) and performance-based restricted stock units (“performance stock units” or “PSUs”) under the 2017 Plan.

Restricted Stock Awards

The Company has granted RSAs, which generally vest in three equal annual installments beginning on the first anniversary date of the grant. During the three and nine months ended September 30, 2022, the Company granted approximately 67,400 and 484,600 RSAs, respectively, with an approximated aggregate value of $4.8 million. During the three and nine months ended September 30, 2021, the Company granted approximately 145,200 and 645,300 RSAs, respectively, with an aggregate value of $4.2 million. As of September 30, 2022, there was an aggregate $5.2 million of unrecognized expense related to restricted shares issued which is expected to be recognized over a weighted average period of 1.8 years.

Performance Stock UnitsThe performance criteria applicable to performance stock units that have been granted by the Company are based on relative total shareholder return, which measures the Company’s total shareholder return as compared to the total shareholder return of a designated peer group, and absolute total shareholder return. Generally, the performance stock units are subject to an approximated three-year performance period. During the nine months ended September 30, 2022, the Company granted approximately 91,500 target shares of market-based performance stock units at a relative and absolute grant date fair value of approximately $14.11 and $12.69 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on December 31, 2024. During the three and nine months ended September 30, 2021, the Company granted approximately 100,900 and 246,200 target shares, respectively, of market-based performance stock units at a relative and absolute grant date fair value of $9.24 per share and $7.45 per share, respectively, which are expected to vest (if at all) following the completion of the applicable performance period on March 15, 2024. As of September 30, 2022, there was an aggregate $1.4 million of unrecognized compensation cost related to performance stock units which are expected to be recognized over a weighted average period of 1.7 years.