Exterran Announces New Name for the U.S. Market Leader in Contract Compression Services
Thursday 9 July 2015
Exterran Partners, L.P. - Common Units Representing Limited Partner Interests (MM) Charts.After completion of Exterran’s separation transaction, the U.S. compression services company will be called “Archrock”
Non-U.S. contract operations, non-U.S. aftermarket services and global product lines company will keep the “Exterran” name
Exterran Partners will be renamed “Archrock Partners”
Exterran and Exterran Partners are pleased to announce the future name of the market leader in U.S. natural gas contract compression services: Archrock.
In the third quarter of 2015, Exterran expects to separate its international contract operations, international aftermarket services and global product line businesses into a standalone company, resulting in two independent companies. The remaining company, which will be called Archrock, will be the leading provider of natural gas contract compression services and a premier provider of aftermarket services and parts to customers in the oil and natural gas industry throughout the United States.
“Archrock will continue to offer our customers contract compression services utilizing the country’s largest fleet, well-established relationships with OEM manufacturers and distributors, and outstanding aftermarket parts and service capability,” said President and CEO Brad Childers. “The Archrock name, with its ties to the natural world and its message of connection, is a fitting reflection of the way we perform for our customers. With approximately 3.7 million operating horsepower in our compression services fleet across the United States, we are strong, we are here for the long term and we bridge divides — connecting with our customers, employees and communities. We are where our customers need us.”
After the completion of the separation transaction, Exterran Partners, L.P., a master limited partnership, will be named “Archrock Partners, L.P.”
The company comprising Exterran’s global product lines and non-U.S. services will continue to be called “Exterran.” It will continue to be a market leader supplying customers throughout the world engaged in all aspects of the oil and natural gas industry.
“Exterran’s customers can continue to rely on our legacy of proven world-wide performance,” said Executive Vice President Andrew Way, who will become President and CEO of Exterran when the transaction is complete.
Exterran’s global product lines will include production equipment, natural gas compression equipment, processing and treating equipment and water treatment solutions. In addition, outside the United States, it will continue to be a leading provider of full-service natural gas contract compression and a supplier of new, used, OEM and aftermarket parts and services.
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