Natural Gas Services Group Announces Expansion of Credit Facility

Written by Customer Service on . Posted in Public Companies.

Midland, Texas, June 10, 2024 (GLOBE NEWSWIRE) — Natural Gas Services Group, Inc. (“NGS” or the “Company”), a premier provider of natural gas compression equipment to the energy industry, announced today the closing of an expansion of its existing credit facility (the “Facility”) led by Texas Capital Bank. The Company added $75 million of additional borrowing capacity to increase the committed borrowing capacity to $300 million. The Facility provides the Company with additional capital to fund further growth in NGS’s rental equipment fleet. 

“We are pleased to announce the successful expansion of our Facility from $225 million to $300 million,” said Justin Jacobs, Chief Executive Officer of NGS.  “I want to thank all of our lending partners for their continued support and hard work to allow us to reach this agreement to increase our borrowing capacity. The incremental capital availability will help to continue to execute on our stated growth strategy.”

The amendment was effective as of June 6, 2024.

CONTACT: For Additional Information

Investor Relations
(432) 262-2700
ir@ngsgi.com
www.ngsgi.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.