Jul. 21, 2014, 10:34 AM
- TETRA Technologies (TTI +4.8%) agrees to acquire Compressor Systems, owner of the fourth-largest U.S. gas compression fleet, for $825M.
- The deal could make TTI affiliate Compressco Partners (NASDAQ:GSJK), a relatively young player in the growing U.S. market for pumping gas from aging wells, a rival to Exterran Partners (EXLP, EXH) and other large U.S. compressors, in terms of energy pumping horsepower.
- TTI says the deal will increase Compressco's total horsepower offering from ~187K to 1M-plus, and allow Compressco to utilize an expanded range of compressor packages (from 20 HP units to 2,370 HP units) for compression services to customers.
Jul. 14, 2014, 8:10 AM
- Exterran Partners (NASDAQ:EXLP) agrees to acquire natural gas compression assets from Chesapeake Energy (NYSE:CHK) subsidiary MidCon Compression for ~$135M.
- The assets include 162 compression units, most of which are being used to provide compression services to BHP Billiton in Arkansas' Fayetteville Shale; as part of the deal, the contract operations services agreement with BHP will be assigned to EXLP.
- EXLP says the deal will add immediately to distributable cash flow per unit.
Archrock Partners LP provides natural gas compression services. It operates its business together with its subsidiaries. The company's services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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