The Woodlands-based Kodiak Gas Services said last week it completed the purchase of more than 20,000 horsepower of large horsepower compression assets for $24 million from a leading oil and gas producer in the Permian Basin. Kodiak will use the acquired assets to provide compression services to the seller in a seven-year contract. The assets will be integrated into Kodiak’s existing operations in Texas and New Mexico.
Mickey McKee, president and CEO, said March 20, “This transaction underscores Kodiak’s strategy of deploying capital into high-quality, long-duration commercial opportunities with premier operators.” He said the deal “further strengthens our leading position in the Permian Basin.”
Kodiak said it expects to add 170,000 compression horsepower in 2026.