USA pression Partners(USAC)

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USA pression Partners(USAC) - 2020 Q4 - Annual Report
2021-02-16 21:32
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35779 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ...
USA pression Partners(USAC) - 2020 Q4 - Earnings Call Transcript
2021-02-16 18:56
USA Compression Partners, LP (NYSE:USAC) Q4 2020 Earnings Conference Call February 16, 2021 11:00 AM ET Company Participants Chris Porter - Vice President, General Counsel and Secretary Eric Long - President and CEO Matt Liuzzi - CFO Conference Call Participants Vinay Chitteti - JPMorgan Shneur Gershuni - UBS Operator Good day, and welcome to the USA Compression Partners Fourth Quarter Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the presentation over to ...
Usa Compression Partners LP (USAC) Presents At Wells Fargo Midstream and Utility Conference - Slideshow
2020-12-10 19:15
USA Compression Partners, LP 2020 Wells Fargo Virtual Midstream and Utility Symposium December 9, 2020 USA COMPRESSION Disclaimer This presentation contains forward-looking statements relating to the operations of USA Compression Partners, LP (the "Partnership") that are based on management's current expectations, estimates and projections about its operations. You can identify many of these forward-looking statements by words such as "believe," "expect," "intend," "project," "anticipate," "estimate," "cont ...
USA Compression Partners (USAC) Presents At 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference - Slideshow
2020-11-24 19:38
USA Compression Partners, LP RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference November 18-19, 2020 USA COMPRESSION Disclaimer This presentation contains forward-looking statements relating to the operations of USA Compression Partners, LP (the "Partnership") that are based on management's current expectations, estimates and projections about its operations. You can identify many of these forward-looking statements by words such as "believe," "expect," "intend," "project," "anticipa ...
USA pression Partners(USAC) - 2020 Q3 - Quarterly Report
2020-11-03 21:33
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q For the transition period from to . Commission File No. 001-35779 USA Compression Partners, LP (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION ...
USA pression Partners(USAC) - 2020 Q3 - Earnings Call Transcript
2020-11-03 21:14
USA Compression Partners, LP (NYSE:USAC) Q3 2020 Earnings Conference Call November 3, 2020 11:00 AM ET Company Participants Chris Porter - Vice President, General Counsel and Secretary Eric Long - President and Chief Executive Officer Matt Liuzzi - Chief Financial Officer Conference Call Participants Jeremy Tonet - JPMorgan. TJ Schultz - RBC Capital Markets Operator Good morning and welcome to USA Compression Partners LP's Third Quarter 2020 Earnings Call. During today’s call, all parties will be in a liste ...
USA Compression Partners (USAC) Presents At Citi Midstream Energy Infrastructure Conference - Slideshow
2020-08-13 18:04
USA COMPRESSION USA Compression Partners, LP Citi Midstream / Energy Infrastructure Conference August 12-13, 2020 Disclaimer This presentation contains forward-looking statements relating to the operations of USA Compression Partners, LP (the "Partnership") that are based on management's current expectations, estimates and projections about its operations. You can identify many of these forward-looking statements by words such as "believe," "expect," "intend," "project," "anticipate," "estimate," "continue, ...
USA pression Partners(USAC) - 2020 Q2 - Earnings Call Transcript
2020-08-04 21:29
Financial Data and Key Metrics Changes - Total revenues for Q2 2020 were $169 million, approximately 6% below Q1 2020 [8][41] - Adjusted EBITDA for Q2 was approximately $105 million, representing a decrease of less than 1% from Q1 [8][41] - Adjusted gross margin was 70.4% and adjusted EBITDA margin was 62.5% [8][43] - Average monthly revenue per horsepower was $16.79, down slightly from $16.89 in Q1 [10][42] - Net income for the quarter was $2.7 million, and operating income was $34.9 million [43] Business Line Data and Key Metrics Changes - Average utilization for the quarter was 88.0%, down from 92.5% in Q1 [9][42] - Revenue-generating horsepower decreased approximately 6% to over 3.1 million horsepower [41][42] - Growth capital expenditures were $22.8 million, while maintenance capital expenditures were $4.4 million [11][12] Market Data and Key Metrics Changes - Crude oil prices rallied to around $40 per barrel from approximately $20 [16][18] - Global petroleum and liquid fuels consumption in June increased by 10 million barrels per day compared to May [18] - Natural gas consumption is projected to decline by about 3% in 2020, with underlying demand remaining strong [25] Company Strategy and Development Direction - The company focuses on larger horsepower compression used in regional infrastructure-oriented facilities, which provides stability during downturns [33][34] - The strategy includes maintaining a diverse asset base to mitigate risks from specific regional declines [37][38] - The company plans to seek meaningful reductions in growth capital expenditures for the remainder of the year [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term demand for natural gas, viewing it as a clean fuel of choice [16][32] - The company believes it is well-positioned to weather market softness and benefit from eventual recovery [39][92] - Management noted that the current downturn is expected to be followed by a gradual recovery, with signs of stabilization in customer activity [60][91] Other Important Information - The Board decided to maintain the distribution at $0.525 per unit, resulting in a distributable cash flow coverage ratio of 1.1 times [13][41] - The company expects full-year adjusted EBITDA of between $395 million and $415 million [44] Q&A Session Summary Question: Can you provide more details on cost controls and expectations for future quarters? - Management indicated that they cut about 10% of labor costs and other SG&A expenses, leading to improved margins in Q2 [46][48] Question: What are the current activity trends in key basins? - Management reported a significant increase in quote activity and new set activity, with a slowdown in unit returns [55][60] Question: Regarding the GP contribution agreement, are there any time milestones? - The agreement allows Energy Transfer to unilaterally put the GP interest back to the partnership within one year of closing [87] Question: How does the company view the trend of operators reducing variable costs by taking compression in-house? - Management believes the trend toward outsourcing will continue, as operators will focus on their core competencies [77][78] Question: What was the rationale behind seeking a waiver on the covenant? - The company sought a waiver to provide a cushion for operating the business amid increased uncertainty in the market [79][82]
USA pression Partners(USAC) - 2020 Q2 - Quarterly Report
2020-08-04 21:19
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-35779 USA Compression Partners, LP (Exact name of registrant as specified in its charter) Delaware WASHINGTON, D.C. 20549 Form 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 Indicate by chec ...
USA pression Partners(USAC) - 2020 Q1 - Quarterly Report
2020-05-05 21:15
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-35779 USA Compression Partners, LP (Exact name of registrant as specified in its charter) Delaware (State or other j ...