MIDLAND, Texas — Natural Gas Services Group, Inc. (“NGS” or the “Company”), a premier provider of natural gas compression equipment, technology, and services to the energy industry, announced today it has closed on a $100 million expansion of its existing credit facility (the “Facility”), bringing the total commitments to $400 million with an enlarged accordion of $100 million. The expanded Facility enhances the Company’s financial flexibility and provides additional capital to support ongoing fleet growth, particularly in its large horsepower and electric drive rental compression units.
“We are pleased to announce the expansion and amendment of our credit facility, particularly considering recent financial market volatility and general economic uncertainty,” said Stephen Jacobs, President and CEO of Natural Gas Services Group. “This additional capital supports continued investment in our large horsepower and electric drive rental equipment fleet as we continue to drive organic growth and market share gains while improving our customer experience. Additionally, the amended Facility provides improved economics and terms, including a 50 to 75 basis point reduction in interest rates at comparable leverage levels and a more flexible leverage covenant beginning mid-2026.”
“On behalf of the entire Company, I want to thank our lenders, both existing and new,” Jacobs continued. “The amendment of our Facility, especially given markets conditions, reflects the confidence our lending partners have in our business and our future prospects. We remain focused on executing our strategic plan and driving value for all stakeholders. We look forward to reporting our first quarter 2025 results next month.”
The amendment was effective as of April 18, 2025.
