CSI Compressco LP
csicompressco.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Mar 1, 2024. Its latest SEC filing is a SC 13G/A from Nov 6, 2024.
10-K for FY2023, filed Mar 1, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides natural gas compression and treating services, plus compressor parts, to oil and gas producers and midstream companies.
10-K for FY2023, filed Mar 1, 2024We are a provider of contract services related to the exploration and production of oil and natural gas, including natural gas compression…View ↗
We are a provider of contract services including natural gas compression services and treating services. Natural gas compression is a…View ↗
We provide services to a broad base of natural gas and oil exploration and production, midstream, pipeline transmission, and storage…View ↗
How Did They Make Money?
Customers pay a fixed monthly fee for compression and treating services; compression charges track days served. They also pay invoices for products and most services after billing.
10-K for FY2023, filed Mar 1, 2024Contract Services Contract Terms. Our contract services are primarily performed under service contracts using our low-, medium-, and…View ↗
Contract services. For compression services revenues recognized over time, our customer contracts typically provide agreed upon monthly…View ↗
Performance Obligations. Revenue is recognized when performance obligations under the terms of a contract with our customer are satisfied.…View ↗
$386.1M
-
10-K for FY2023, filed Mar 1, 2024
$386.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Contract services
Recurring
10-K for FY2023, filed Mar 1, 2024 |
74% |
Contract services, FY2023
$284M Sources
|
Recurring |
|
Aftermarket services
Sold outright
10-K for FY2023, filed Mar 1, 2024 |
22%
FY2020: 20%
|
Aftermarket services, FY2023
$83.6M Sources
|
Sold outright |
|
Equipment rentals
Recurring
|
4.5% |
Equipment rentals, FY2023
$17.2M Sources
|
Recurring |
|
Equipment sales
Sold outright
|
0.3%
FY2020: 4.4%
|
Equipment sales, FY2023
$1.2M Sources
|
Sold outright |
Who Were Their Customers?
Serves oil and gas exploration and production companies, midstream businesses, and pipeline transmission and storage companies across the United States and international markets.
10-K for FY2023, filed Mar 1, 2024We provide services to a broad base of natural gas and oil exploration and production, midstream, pipeline transmission, and storage…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $9.5M in FY2023, but brought in more cash than it spent: $4.3M of free cash flow.
10-K for FY2023, filed Mar 1, 2024
$128.1MView ↗
10-K for FY2023, filed Mar 1, 2024
−$9.5MView ↗
10-K for FY2023, filed Mar 1, 2024
$4.3MView ↗
How Were They Changing?
-
Apr 1, 2024
Kodiak completed its merger with CSI Compressco
The partnership units stopped trading after April 1, 2024 and were delisted effective April 2, 2024.
Sources
8-K, filed Apr 1, 2024
In connection with the consummation of the Mergers, The Nasdaq Stock Market LLC (the “Nasdaq”) was notified that each outstanding…View ↗
Grew. Revenue grew 14% in 4 years, from $340.1M in FY2019 to $386.1M in FY2023, about 3% a year.
Exited new package sales
The older business description says the partnership fully exited new compressor-package sales; the latest describes sales of used standard packages, not newly fabricated units.
10-K for FY2020, filed Mar 4, 2021 10-K for FY2023, filed Mar 1, 2024We are a provider of compression services for natural gas and oil production, gathering, artificial lift, transmission, processing, and…View ↗
We are a provider of contract services related to the exploration and production of oil and natural gas, including natural gas compression…View ↗
Who Did They Compete With?
Competes with Archrock Compression Services, Kodiak Gas Services, USA Compression Partners, Natural Gas Compression Systems, and Kinder Morgan
10-K for FY2023, filed Mar 1, 2024The natural gas compression services business is highly competitive. We experience competition from companies that may be able to more…View ↗
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