Edit ModuleShow Tags

USA Compression Places Orders

Company gained 40,000 hp (30 MW) of compression in Q4 of 2013


Published:

USA Compression Partners acquired 40,000 hp (30 MW) of midstream and gas lift compression units in the fourth quarter of 2013, bringing its fleet to about 1.2 million hp (895 MW), and has ordered 180,000 hp (134 MW) of compression for delivery this year.

The disclosures came as the Austin, Texas, limited partnership released its fourth quarter earnings. Net income jumped to US$4.4 million from US$0.9 million in the fourth quarter of 2012. Revenue climbed 53.1% to US$48.6 million from US$31.8 million, largely due to a 52.5% increase in contract operations revenue.

USA Compression said its horsepower utilization rate was well above 90% in the fourth quarter.

“We continue to see good demand for our contract compression services throughout the shale and unconventional plays in which we operate, but especially in the Marcellus, Eagle Ford, Utica, and Permian Basin shales and the Mississippi lime and Granite Wash areas,” it said.

The company has customer contracts for more than 36% of the compression units on order. “As we get closer to taking delivery at various times throughout the first half of 2014, we expect to have substantially all the new units contracted for service.”

USA Compression anticipates ordering another 40,000 hp (30 MW) of compression later in 2014 with potentially more to come. “Our demand signals remain very strong,” it said.

Edit ModuleShow Tags

Archive »Recent Articles

HiPower Systems Signs New Distributor

HiPower Systems, a manufacturer of power generation and power distribution equipment in the U.S. and Canada, has signed RDO Equipment Co. to be a distributor in North Dakota, South Dakota, Minnesota and eastern Montana.

Altenesol Completes 15-Year LNG Contract

IAHL Corp. announced that its subsidiary, Altenesol LNG Colombia S.A.S., has finalized a 15 year take-or-pay agreement for its first LNG train.

EIA: Report Week Ends With Flat Natural Gas Prices

Natural gas prices were flat at most trading locations between March 11 to March 18 (the report week), according to the Environmental Information Administration (EIA).

EQT Midstream Partners Buys EQT’s Virginia Gas Gathering System

EQT Midstream Partners has entered into an agreement with EQT Corp. to acquire its Northern West Virginia Marcellus Gathering System, along with a preferred interest in an EQT subsidiary, for US$1.05 billion.

Beta’s Leadership Team Adds Two

Beta Machinery Analysis (Beta) announced two additions to its leadership team. The new personnel reflect BETA’s growing business in China and Southeast Asia, and its expanded services in piping vibration and integrity.