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Slide #62. USA Compression — Compression Assets from S&R Compression
USA Compression (NYSE:USAC)
Compression Assets from S&R Compression
USA Compression Partners, LP (NYSE:USAC) ("USA Compression", "USAC", or "the Partnership") today announced that it had entered into a definitive agreement to acquire approximately $187 million of compression assets owned by S&R Compression, LLC ("S&R"), a Tulsa-based company majority owned and controlled by Argonaut Private Equity, an affiliate of George B. Kaiser. In exchange for the contribution of assets, the Kaiser affiliate will receive USAC common units representing 20% of the pro forma limited partner interest in USAC. USAC expects this transaction to be immediately accretive to distributable cash flow.
USA Compression Partners is engaged as a provider of natural gas compression services mainly in connection with infrastructure applications, including both allowing for the processing and transportation of natural gas through the domestic pipeline system and improving crude oil production through artificial lift processes. As such, Co.'s compression services play a role in the production, processing and transportation of natural gas and crude oil. Co. provides compression services in a number of shale plays throughout the United States. As part of its services, Co. engineers, designs, operates, services and repairs its compression units and maintains related support inventory and equipment.
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Hold (2.50 out of 4)