USA Compression Partners

What USA Compression Partners does

USA Compression Partners, LP (NYSE: USAC) is a publicly traded master limited partnership and one of the largest independent providers of natural gas compression services in the United States, founded in 1998 and headquartered in Dallas, Texas. The company designs, owns, operates, and maintains a standardized fleet of large-horsepower compression units - typically 630 to 4,735 horsepower per unit, powered by Caterpillar 3500 and 3600 series engines and Ariel Corporation compressor frames - that it deploys under long-term take-or-pay or fixed-fee contracts at customer sites across the natural gas value chain, including wellhead gathering systems, processing and treating facilities, and pipeline infrastructure. Its three interconnected service lines are large-horsepower Gas Compression for moving gas through domestic pipeline systems, specialized Gas Lift compression (47 to 380 HP packages with up to 1,600 PSIG discharge pressures) for artificially lifting oil and gas wells, and Station Services, which delivers turnkey modular compressor stations that can be deployed up to eight weeks faster than conventional construction. The company serves natural gas producers, processors, gatherers, and transporters across 13 or more US shale plays including Permian, Delaware, Eagle Ford, Haynesville, Marcellus, Utica, Bakken, Fayetteville, Woodford, Mississippi Lime, Granite Wash, Barnett, and Niobrara.

USA Compression earns revenue primarily through monthly subscription-style fees tied to contracted horsepower utilization under multi-year contracts, with revenue per horsepower reaching a record $22.73 in Q1 2026 (up 8% year-over-year). The fleet totals approximately 4.931 million total horsepower (4.44 million revenue-generating pre-J-W Power), and following the January 12, 2026 acquisition of J-W Power Company for approximately $860 million, the combined active fleet reached roughly 4.4 million horsepower. Fleet utilization stood at 92% overall and 95% for large horsepower at year-end 2025. Differentiated operational capabilities include the proprietary R3 service-dispatch software, an owned technical training center, dedicated 24/7 field service teams with remote monitoring, and standardized modular equipment that supports rapid redeployment.

The company operates as an MLP with Energy Transfer LP as its general partner and owner of approximately 46.9% of outstanding common units, a relationship that originated in the April 2018 transformative transaction in which USAC acquired CDM Resource Management from Energy Transfer for $1.7 billion. Energy Transfer also provides shared services that contribute to cost efficiencies. USAC's go-to-market is enterprise field sales targeting large producers and midstream counterparties, supported by investor relations activities and industry publications. Recent leadership transitions - Clint Green as CEO (October 2024, ex-Energy Transfer), Christopher Paulsen as CFO (November 2024, ex-Pioneer Natural Resources), and Christopher Wauson as COO (April 2025, internal promotion) - point to a management team with deep M&A and corporate development experience.

Name

USA Compression Partners

Legal name

USA Compression Partners LLC

Website

https://usacompression.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

501–1,000 employees

Short description

USA Compression Partners (NYSE: USAC) is a Dallas-based master limited partnership and one of the largest US independent providers of large-horsepower natural gas compression services, operating a 4.9M+ HP standardized fleet under long-term take-or-pay contracts with producers, midstream operators, and processors across all major US shale plays.

Ownership category

akta.pro rank

Product category

Natural Gas Compression Services

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Natural Gas Compression Services (EUALACAG)

akta.pro secondary industries

Natural Gas Compression Services (EUAAACAC), Natural Gas Compressor Station Operations & Services (TLAGACAD)

Keywords

• Natural gas compression
• Midstream energy services
• Gas lift compression
• Compressor station services
• Contract compression services

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Contract Compression Services: USA Compression generates revenue through long-term take-or-pay or fixed-fee contracts with natural gas producers, processors, gatherers, and transporters. Revenue is based on contracted horsepower utilization and contract pricing. The company deploys compression equipment on a monthly fee basis, providing services 24/7 with dedicated field service teams.
2. Station Services: Turnkey compression facilities providing complete compressor station solutions including pre-engineering, design, deployment, and ongoing operational and maintenance services. Customers pay a monthly fee enabling them to deploy capital on core businesses.
3. Gas Lift Compression: Specialized gas lift compression services for artificially lifting oil and gas wells. Nine specially designed gas lift packages ranging from 47 horsepower to 380 horsepower, with up to 1600 PSIG discharge pressures and three stages of compression.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

USA Compression Partners deploys and operates large-horsepower natural gas compression equipment under long-term take-or-pay or fixed-fee contracts for natural gas producers, processors, gatherers, and transporters. The company also offers specialized gas lift compression services for crude oil artificial lift and turnkey Station Services that deliver complete modular compressor station design, deployment, and 24/7 operations and maintenance.

Product overview

USA Compression Partners provides mission-critical compression services to the oil and gas industry through three interconnected service offerings: Gas Compression, Gas Lift, and Station Services. The company operates a large fleet of standardized, large-horsepower compression units (typically 630 to 4,735 HP) utilizing Caterpillar 3500 and 3600 series engines and Ariel compressor frames, deployed across gathering systems, processing facilities, and well sites. Gas Compression forms the core business for moving natural gas through domestic pipeline infrastructure, Gas Lift provides specialized artificial lift solutions for crude oil production, and Station Services delivers turnkey modular compression facilities for faster market deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• Gas Compression

Quantifiable outcome

• Record Q1 2026 revenue of $331.3 million, up 35% year-over-year
• +5 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators13 records

Recent moves1 record

Expansion highlights5 records

Others

• EnLink Midstream: US midstream operator providing natural gas and NGL gathering, processing, and transportation services. Operates compression infrastructure within its systems and is a customer of third-party compression providers like USAC.
• Crestwood Equity Partners LP: US midstream partnership (CEQP) operating natural gas gathering, processing, and NGL infrastructure. Comparable MLP structure and customer overlap with USAC for compression services.
• Cactus, Inc. NYSE-listed (WHD) manufacturer of wellhead and pressure control equipment used in oil and gas production. Adjacent equipment vendor serving overlapping E&P customers but not a direct compression services competitor.
• DCP Midstream, LP: Major US midstream operator focused on natural gas gathering, processing, and NGL transportation. Uses contract compression services extensively, making it a customer of USAC as well as an adjacent infrastructure operator.
• Energy Transfer LP: Parent and general partner of USAC (owns ~46.9%), and a major US midstream pipeline operator. Strategic sponsor and largest customer; related through CDM Resource Management acquisition and ongoing shared services arrangement.

Broad incumbents

• ProPetro Holding Corp. NYSE-listed (PUMP) provider of oilfield services including pressure pumping and related equipment. Adjacent rather than direct, as it serves E&Ps across the well lifecycle but focuses on completions services rather than contract compression.

Direct peers

• Archrock, Inc. The largest US pure-play natural gas compression services provider (NYSE: AROC). Operates a comparable contract compression fleet serving the same E&P and midstream customers with take-or-pay contracts across major US shale basins.
• Kodiak Gas Services: NYSE-listed provider of large-horsepower contract compression services to US shale producers and midstream operators. Directly competes with USAC in the Permian, Eagle Ford, and Haynesville with a similar contract-based revenue model.
• CSI Compressco LP: Smaller NASDAQ-listed compression services provider (CCIX) operating in the US, Canada, and Latin America. Similar contract compression model but with smaller fleet and broader geographic footprint including lower-horsepower applications.

Regional players

• Enerflex Ltd. TSX-listed provider of natural gas compression, processing, and electric power solutions with strong Canadian and Latin American exposure. Comparable business model focused on contract compression, but primarily serves different geographies than USAC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/usacompression
• LinkedInlinkedin.com/company/1845876

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about USA Compression Partners