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Overview of Archrock Inc
Archrock Inc (NYSE: AROC) is a prominent energy infrastructure company specializing in midstream natural gas compression and comprehensive aftermarket services. With over 60 years of industry expertise, Archrock serves the oil and natural gas sector by providing an integrated range of services that ensure effective production, compression, and transportation of natural gas across the United States. The company’s operations are designed to meet the full spectrum of needs for natural gas compression, from the initial design and installation to ongoing operation and maintenance, using advanced technologies and a highly skilled workforce.
Core Business Areas
Archrock operates through two primary business segments:
- Contract Operations: This segment is the backbone of the company, providing end-to-end solutions that include owning, installing, operating, and maintaining natural gas compression systems. By leveraging the nation’s largest fleet and a network of trusted OEM manufacturers and distributors, Archrock addresses complex challenges and delivers customized solutions for efficient energy production.
- Aftermarket Services: Complementing its contract operations, Archrock offers a full suite of aftermarket services designed for customers who own compression equipment. These services cover critical support functions such as maintenance, overhauls, reconfiguration, and parts sales, ensuring maximum operational uptime, reliability, and long-term performance of the equipment.
Market Position and Operational Excellence
Archrock has established a robust market presence due to its dependable service, technical expertise, and strategic positioning. The company bridges the gap between operational challenges and effective solutions, delivering compression services "done the right way" every step of the process. The emphasis on quality and operational excellence is underscored by a well-trained, certified technician workforce, a significant asset base, and strategically located operations that enable Archrock to serve customers efficiently across diverse geographical regions.
Technological Integration and Industry Expertise
Integrating enabling technology and innovative practices, Archrock continuously enhances its operational processes to meet evolving industry standards. The company employs sophisticated methodologies and a disciplined approach to maintenance and equipment optimization, ensuring sustained reliability in natural gas production. This technical proficiency, combined with robust service execution, not only secures its market position but also underpins its reputation for delivering solutions that are both efficient and environmentally responsible.
Competitive Landscape
Within the competitive arena of natural gas compression services, Archrock distinguishes itself through its scale, operational efficiency, and deep industry relationships. With a vast operational footprint and a reputation built on decades of service, the company is able to offer unmatched horsepower capacity and a comprehensive service portfolio. This operational excellence, fortified by strategic geographic positioning and long-term client relationships, allows Archrock to maintain a distinctive edge over its competitors.
Service Quality and Customer Assurance
Customer trust and service dependability are at the core of Archrock's operations. The company’s commitment to high-quality service is reflected in its meticulous approach to equipment maintenance and operational oversight. Clients benefit from Archrock’s extensive experience in bridging technical challenges with practical, scalable solutions that ensure minimal downtime and enhanced performance of their natural gas systems.
Conclusion
In summary, Archrock Inc stands as a cornerstone in the realm of natural gas compression, offering a balanced expertise in both contract operations and aftermarket solutions. Through its historical legacy, robust technical framework, and strategic market positioning, Archrock continues to provide essential services that empower the energy infrastructure of the United States. Whether addressing technical complexities or navigating the dynamics of the energy market, Archrock’s comprehensive service model delivers enduring value and operational reliability.
Archrock (NYSE:AROC) will host a conference call on February 23, 2021, to discuss its fourth quarter 2020 financial results and provide guidance for 2021. The call begins at 11:00 a.m. Eastern Time, with the earnings report released before the call. Investors can access the call via a live webcast on the Archrock website or by phone. Archrock specializes in midstream natural gas compression services and is a leading provider in the U.S. oil and natural gas industry.
Archrock has declared a quarterly dividend of $0.145 per share, totaling $0.58 annually. This dividend will be paid on February 16, 2021, to shareholders on record as of February 8, 2021. The company, a leader in natural gas compression services in the U.S., emphasizes its focus on energy infrastructure. Shareholders may view this consistent dividend as a sign of financial stability and confidence in future performance.
Archrock, Inc. (NYSE:AROC) announced the retirement of Wendell R. Brooks from its Board of Directors on January 20, 2021, after serving since 2015. Leonard W. Mallett was appointed to the Board immediately following Mr. Brooks's departure. Mallett brings extensive experience in the midstream sector, having previously held roles at Summit Midstream Partners and Enterprise Products Partners. Chairman Gordon Hall expressed gratitude for Brooks's contributions and optimism about Mallett's potential impact on the Company.
On December 17, 2020, Archrock announced the closing of a private offering of $300 million aggregate principal amount of 6.250% senior notes due 2028 by its subsidiary, Archrock Partners. These New Notes are additional to the previously issued $500 million in senior notes and will share identical terms. Proceeds will be used to repay outstanding borrowings and for general partnership purposes. The offering was made under Rule 144A and Regulation S as the notes are not registered under the Securities Act.
Archrock, a leader in natural gas compression services, announced an upsized private offering of $300 million in 6.250% senior notes due 2028, increasing from an initial $250 million. The notes will be sold at an issue price of 104.875% and are intended to partially repay borrowings under Archrock Partners' revolving credit facility. The offering is expected to close on December 17, 2020, pending customary conditions. The New Notes will combine with previously issued notes under the same indenture, highlighting Archrock's continued financial strategy in the midstream natural gas sector.
Archrock, Inc. (NYSE: AROC) announced that its subsidiary, Archrock Partners, L.P., plans to offer $250 million in senior notes due 2028. The offering will add to previously issued notes of $500 million at a 6.250% interest rate. Proceeds will be used to repay outstanding borrowings and for general partnership purposes. The new notes will not be registered under the Securities Act and are available only to qualified buyers under specific exemptions. Archrock focuses on midstream natural gas compression services in the U.S.
Archrock reported its third quarter 2020 results, showing revenue of $205.6 million, down from $244.9 million in Q3 2019. Net income declined to $18.3 million from $20.4 million year-over-year. Adjusted EBITDA slightly increased to $112.6 million. The company declared a quarterly dividend of $0.145 per share, maintaining a coverage ratio of 3.5x. Archrock reduced its leverage ratio to 4.0x and tightened its Adjusted EBITDA guidance to $405 million to $420 million for 2020.
Archrock (NYSE: AROC) has declared a quarterly dividend of $0.145 per share, maintaining the same rate as the previous quarter and the same period last year. The dividend will be distributed on November 18, 2020 to shareholders recorded by November 12, 2020.
Archrock focuses on midstream natural gas compression services, positioning itself as a leader in the sector within the U.S. The consistent dividend reflects the company's stable financial standing despite the challenging economic environment.
Archrock, Inc. (NYSE:AROC) will host a conference call on November 3, 2020, to review its third quarter 2020 financial and operational results. The call is scheduled for 12:00 p.m. ET, following the release of its earnings report. Investors can access the live webcast on Archrock's website or dial in at 1-877-407-0784 (U.S. & Canada) or 1-201-689-8560 (international). A replay will be available for seven days post-call. Archrock specializes in midstream natural gas compression services across the U.S.
Archrock (NYSE: AROC) announced that its President and CEO, Brad Childers, will meet with investors at the Barclays CEO Energy-Power Conference on September 9, 2020. Additionally, CFO Doug Aron will present at the 9th Annual Gateway Conference on September 10, 2020, at 4:30 p.m. CT.
One-on-one meetings will occur throughout both conferences, with webcast links and slides available on their website prior to the events. Archrock specializes in midstream natural gas compression services across the U.S.
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