Kodiak Gas Services Announces $175 Million Credit Facility Expansion

MONTGOMERY, Texas, Dec. 16, 2021 /PRNewswire/ -- Kodiak Gas Services, LLC, (Kodiak), a leading provider of contract compression services, today announced it has amended and upsized its existing credit facility with an additional $175 million in commitments. In 2021, Kodiak has now secured several additional lenders to participate in the credit facility with total commitments of $1.875 billion.

In addition to funding continued growth, providing access to more working capital, and supporting capital expenditures, the upsized credit facility will be utilized for additional investment in Kodiak's recently announced technology, EcoView, a proprietary data collection and high-fidelity transmission system that monitors emissions and streamlines efficiency for the company's compression assets.

"The expanded capacity of our credit facility reflects the continued growth of our company and provides Kodiak with increased flexibility and capacity to further our sustainability strategy," said Mickey McKee, President and Chief Executive Officer of Kodiak. "In a time when energy transition and ESG initiatives are front and center for the industry, gaining access to capital is paramount. Entering a new year, we're excited to expand our investment across the fleet to enhance emission profiles and the access our customers have to real-time monitoring."

Through EcoView, Kodiak leverages real-time data to make truly predictive maintenance a reality and future partnerships with machine learning companies will further drive down costs, improve operational efficiencies, and minimize the equipment's environmental impact by reducing unplanned downtime incidents.

"The Kodiak management team is proud of the exceptional relationships we share with our existing lender group and prospective lenders," said Ewan Hamilton, Chief Financial Officer. "This upsizing is a testament to our differentiated and highly resilient business model, as well as our commitment to being best in class from a sustainability perspective."

For more information about EcoView or Kodiak, visit: KodiakGas.com.

About Kodiak Gas Services, LLC
Kodiak Gas Services, LLC is the third largest contract compression services provider in the continental United States with a revenue generating fleet of over 2.9 million horsepower. The company focuses on providing contract compression services to oil and gas producers and midstream customers in high–volume gas gathering systems, processing facilities, multi–well gas lift applications and natural gas transmission systems. More information is available at www.kodiakgas.com.

Media Contacts:
Kaitlin Ross
[email protected] 
Pierpont Communications

SOURCE Kodiak Gas Services, LLC