initial public offerings (IPOs) trading on American exchanges

Friday, June 10, 2011

USA Compression files for $200 million IPO

(MarketWatch) -- Natural gas processor USA Compression Partners LP filed late Thursday for an initial public offering of up to $200 million as it seeks funds to repay debt.

The company compresses gas for energy companies, a key step in shipping gas through U.S. pipelines.

The Austin, Texas, company was founded in 1998. More than 97 percent of its general partner, which manages the business, is owned by Riverstone Holdings LLC, a private equity firm. Riverstone acquired USA Compression in December 2010.

The IPO filing with the U.S. Securities and Exchange Commission did not reveal how many shares the company will be offering or at which price, but said that it intends to apply to be listed on the New York Stock Exchange under the ticker symbol USAC. The company plans to use the IPO proceeds to pay down debt.

USA Compression Partners, LP designs, engineers, operates, and maintains natural gas compressor packages to provide natural gas compression services in the United States. It offers compression services primarily in fast-growing shale plays, including the Fayetteville, Marcellus, Woodford, Barnett, Eagle Ford, and Haynesville shales.

As of March 31, 2011, the company had approximately 632,000 of available horsepower. Its customers include integrated oil companies, public and private independent exploration and production companies, and midstream companies. USA Compression GP, LLC serves as the general partner of USA Compression Partners, LP. The company was formerly known as USA Compression Holdings, LP and changed its name to USA Compression Partners, LP. in June 2011. USA Compression Partners, LP was founded in 1998 and is headquartered in Austin, Texas.

100 Congress Avenue
Suite 450
Austin, TX 78701
United States
Founded in 1998
183 Employees

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