USA Compression Partners, LP and USA Compression Finance Corp. Announce Extension of Exchange Offer for 6.875% Senior Notes Due 2026
January 08, 2019 at 07:21 pm
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USA Compression Partners, LP and its wholly-owned subsidiary, USA Compression Finance Corp. (together, the “Issuers”), announced that they have extended their offer to exchange up to $725,000,000 of new 6.875% Senior Notes due 2026 (the “exchange notes”) that have been registered under the Securities Act of 1933, as amended, for an equal amount of outstanding unregistered 6.875% Senior Notes due 2026 (the “outstanding notes”). As a result of the extension, the exchange offer is now scheduled to expire at 5:00 P.M., New York City time, on January 11, 2019, unless further extended. The exchange offer was originally set to expire at 5:00 P.M., New York City time, on January 8, 2019. As of this date, tenders of approximately $724.9 million aggregate principal amount, or 99.99%, of the outstanding notes have been received pursuant to the exchange offer. Except for the extension of the exchange offer, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated December 6, 2018.
USA Compression Partners, LP is a provider of natural gas compression services. The Company provides compression services to its customers primarily in connection with infrastructure applications, including both allowing for the processing and transportation of natural gas through the domestic pipeline system and enhancing crude oil production through artificial lift processes. It engineers, designs, operates, services and repairs its fleet of compression units and maintains related support inventory and equipment. It also provides compression services in mature conventional basins, including gas lift applications on crude oil wells targeted by horizontal drilling techniques. It has over 3,775,660 horsepower in its fleet. It provides compression services in a number of shales plays throughout the United States, including the Utica, Marcellus, Permian Basin, Delaware Basin, Eagle Ford, Mississippi Lime, Granite Wash, Woodford, Barnett, Haynesville, Niobrara and Fayetteville shales.