Edit ModuleShow Tags

NGS to Expand Fabrication at Midland

Fleet operator reports 22% jump in 2013 rentals


Published:

Natural Gas Services Group Inc., coming off a 22% increase in compression rentals during 2013, will begin construction within 30 days to expand its Midland, Texas, fabrication facilities.

The company said the addition, which will be completed in mid-summer, will enable it to increase its rental compression fleet.

That announcement came as the company disclosed its 2013 earnings.

“I’m happy to report that we had some double-digit gains and record-setting performance,” said Stephen Taylor, president and CEO. “Rental revenues increased 22% to a little over US$69 million and net income and EBITDA (earnings before interest, taxes, depreciation and amortization) were both up 13% for the year.

“This quarter’s elevated rental overhaul expenses are at the same level as last quarter, but remain within our typical operating range; however, as we have seen in the past we expect those to be recouped in added rental revenue over the next few months,” he said. “We think 2014 will be a growing year.”

Edit ModuleShow Tags

Archive »Recent Articles

References: Centrifugal Compressor Rotordynamics In Wet Gas Conditions

References: Systematic Parametric Design/Calculation Of The Piston Rod Unit

Air Liquide’s Texas Footprint Grows

Air Liquide has completed upgrades of its Texas complex in the Bayport Industrial District, which sits east of Houston.

Canada’s NEB Foresees Jump In Nat Gas Production, Consumption

Canada’s National Energy Board (NEB) predicts that Canada’s natural gas production and its domestic natural gas consumption will increase in the next 10 years, according to the U.S. Energy Information Administration.

Engineering Coming Down The Pipeline

Jacobs Engineering Group Inc. received a contract to engineer facilities associated with the Tuxpan-Tula Pipeline Project in Mexico.