SCHEDULE 13D/A: Bayou Well Holdings and Richard Agee Reduce Stake in Ranger Energy Services Below 5%
Schedule 13D Amendment
Bayou Well Holdings Company, LLC and Richard E. Agee have amended their Schedule 13D filing, reporting a reduction in their beneficial ownership of Ranger Energy Services, Inc. Class A Common Stock to 4.97% following an in-kind distribution.
Summary
- Bayou Well Holdings Company, LLC and Richard E. Agee (collectively, the "Reporting Persons") filed Amendment No. 8 to their Schedule 13D regarding their ownership in Ranger Energy Services, Inc.
- As of March 27, 2025, the Reporting Persons beneficially own a total of 1,106,699 shares of Class A Common Stock, constituting approximately 4.97% of the issued and outstanding shares.
- This percentage is based on a total of 22,252,946 shares of issued and outstanding Class A Common Stock, as reported by Ranger Energy Services, Inc. in its Form 10-K filed on March 4, 2025.
- The change in ownership resulted from an in-kind distribution made by Bayou on March 27, 2025, of 570,656 shares of Class A Common Stock to Agee Family Interests, LP (AFI LP).
- Richard E. Agee is a limited partner of AFI LP but does not control AFI LP or its general partner, nor does he have investment control over AFI LP's portfolio.
- As a result of this distribution, both Bayou Well Holdings Company, LLC and Richard E. Agee are no longer considered greater than 5% shareholders and are therefore no longer included as Reporting Persons for Section 13(d) beneficial ownership reporting purposes.
Sentiment
Score: 5
Explanation: The document is a factual report of a change in beneficial ownership due to an in-kind distribution, with no explicit positive or negative implications for the issuer's performance or outlook.
Positives
- The Reporting Persons are no longer subject to Schedule 13D beneficial ownership reporting requirements due to their stake falling below the 5% threshold, potentially reducing administrative burden for them.
Negatives
- Bayou Well Holdings Company, LLC and Richard E. Agee have reduced their beneficial ownership in Ranger Energy Services, Inc., which could be interpreted as a decrease in direct influence or commitment from a significant holder.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- An in-kind distribution of 570,656 shares of Class A Common Stock was made by Bayou Well Holdings Company, LLC to Agee Family Interests, LP (AFI LP), where Richard E. Agee, a reporting person, is a limited partner.
Stakeholder Impact
- Shareholders: The beneficial ownership of Bayou Well Holdings Company, LLC and Richard E. Agee has decreased, potentially reducing their direct influence on the company's strategic direction.
Key Dates
| Date | Description |
|---|---|
| 12/12/2024 | Date Amendment No. 7 to the Schedule 13D was filed. |
| 03/04/2025 | Date Ranger Energy Services, Inc. filed its Form 10-K, reporting 22,252,946 shares of Class A Common Stock outstanding. |
| 03/27/2025 | Date of the in-kind distribution of 570,656 shares of Class A Common Stock by Bayou Well Holdings Company, LLC to Agee Family Interests, LP, which triggered the filing. |
| 03/31/2025 | Date Amendment No. 8 was signed by Brett T. Agee (for Bayou Well Holdings Company, LLC) and Richard E. Agee. |
Keywords
Ranger Energy Services, SEC filing, Schedule 13D, beneficial ownership, Class A Common Stock, Bayou Well Holdings Company, Richard E. Agee, share distribution, ownership change, oilfield services
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