Founded in 1998, USA Compression has grown to serve a diverse customer base in many key producing oil & gas regions.
USA Compression was co-founded by current CEO Eric D. Long in 1998 as a “start-up” compression services provider, with a strategic vision to operate with a differentiated business model – one focused on deploying standardized, new-build, large horsepower compressor packages for utilization in infrastructure applications. With private financial backing, USAC grew from a business plan to over 600,000 HP by the end of 2010, primarily focused on large horsepower units. In that time period, the Company’s geographic footprint, initially focused in the Fayetteville shale, grew to encompass a broader Mid-Continent presence, the Barnett shale, eastern Texas and the Haynesville shale, the Eagle Ford shale as well as entry into the Northeast by way of the Marcellus shale. The Company continues to grow its geographic reach, following existing customers and gaining new customers in regions including the Permian and Delaware Basins and the Utica shale.
In December of 2010, New York-based energy private equity firm Riverstone Holdings, LLC purchased a controlling stake in the company. In January 2013, USAC completed its initial public offering on the New York Stock Exchange and began trading as a publicly-listed master limited partnership (NYSE: USAC). In August 2013, USAC completed the $182 million acquisition of certain assets of Tulsa, OK-based S&R Compression, adding the capability to provide gas lift compression services for crude oil production. These assets are primarily located in western Oklahoma and the Texas panhandle. As a result of the transaction, Argonaut Private Equity and its controlling owner, George B. Kaiser, became significant owners of common LP units of USAC.
USAC continues to execute it organic growth plan and remains committed to its original business model – providing large horsepower compression services serving infrastructure applications.