Oilfield Innovation

Ranger Energy Services (RNGR) announced the development of the industry’s first Hybrid Double Electric Workover Rig, “ECHO,” converting existing Taylor rig designs for cost-effective electrification. Expected in Q3 2025, these rigs offer improved efficiency, safety, and potential for zero emissions when plugged into well site power. ECHO rigs feature regenerative braking, modular design, and real-time diagnostics with AI support. Both initial rigs are contracted with major U.S. operators, showcasing strong market demand for electrified solutions.