Punk'd Reunion! Ashton Kutcher Reunites with 'Old Buddy' Dax Shepard on Netflix's The Ranch

It’s a Punk’d reunion!

Years after Ashton Kutcher and Dax Shepard starred alongside each other on the MTV comedic reality series, which played pranks on celebrities and premiered in 2003, the pair is once again reuniting — this time for scripted TV.

“Reunited with an old buddy. #punkd #theranchnetflix,” Kutcher, 40, captioned a photo of himself and Shepard, 43, on the set of Netflix’s The Ranch, on which Kutcher stars.

Parenthood alum Shepard previously appeared on Kutcher-created series Punk’d as a “field agent,” according to IMDb, when he played practical jokes on numerous stars.

Now, he’s once again appearing alongside Kutcher for season 3 of The Ranch, it was announced Thursday.

Shepard “has signed on to the Netflix’s Colorado-set comedy for a meaty guest arc in season 3. He’ll pop up as Luke Matthews, a former soldier who has ties to the Iron River Ranch, which is run by the Bennett family. Luke will bond and match wits with Colt (Ashton Kutcher) and Bennett patriarch Beau (Sam Elliott), but his past may come back to haunt him,” Entertainment Weekly reports.

“Netflix splits The Ranch seasons in two 10-episode halves, and Shepard’s first appearance will arrive in the second half of season 3,” EW reports. “The first 10 episodes of season 3 are expected to debut later this year.”

The announcement comes in the wake of Danny Masterson’s firing from the Netflix comedy amid multiple allegations of sexual assault against the actor.

“After discussing with the producers, we’ve decided to write Danny Masterson off of The Ranch. Yesterday was his last day of work, and we’ll make new episodes in 2018 without him,” the streaming service said in a statement in December. “Yesterday was his last day of work, we’ll make new episodes in 2018 without him.”

“I am obviously very disappointed in Netflix’s decision to write my character off of The Ranch,” Masterson said in a statement via his rep obtained by PEOPLE. “From day one, I have denied the outrageous allegations against me.”