Houston-based Ranger Energy Services Inc. said it has successfully bid to buy some of the Lower 48 assets of Basic Energy Services Inc. for close to $37 million.

The deal gives Basic, now in bankruptcy, room to restructure. The Fort Worth, TX-based oilfield services (OFS) provider in August filed for Chapter 11 protection for the second time in five years. 

Ranger already has scooped up two OFS companies, CEO Stuart Bodden noted, with the takeover of Patriot Completions Solutions LLC and PerfX Wireline Services

The Basic deal would allow Ranger running room to expand its “scale and scope” in the Lower 48, Bodden said. 

“Combined with the Patriot and PerfX transactions earlier this year, the Basic assets strengthen our ability to serve clients in our markets and to...