NGS closes $120M Flatrock Compression acquisition, adds 86,000 horsepower and cuts customer concentration

Filed June 17, 2026 · Period ending June 15, 2026 · ~1 min read

Key Changes

• high

  Acquired Flatrock Compression for $120M ($110M cash, $10M stock), adding ~86,000 rented horsepower at ~95% utilization across Permian and Eagle Ford basins; deal valued at 6.2x annualized Q1 2026 EBITDA and immediately accretive.

  Exhibit 99.1 verify on EDGAR →
• high

  Customer concentration reduced from 64% (Occidental and Devon) to 54%, with two new large publicly traded E&P customers now third and fourth largest relationships.

  Exhibit 99.1 verify on EDGAR →
• high

  Combined fleet reaches ~661,000 rented horsepower; Flatrock's fleet is ~20% electric motor driven versus NGS's existing 7%, meaningfully expanding electric compression platform.

  Exhibit 99.1 verify on EDGAR →