Archrock, Inc., a premier energy infrastructure company, has finalized the acquisition of Total Operations and Production Services, LLC (TOPS). The transaction enhances Archrock’s compression operations in the Permian Basin and establishes its leadership in electric motor drive compression. The deal involves the addition of 580,000 horsepower, including 500,000 operational horsepower, enhancing the company’s capacity and market position. Archrock funded the $826 million cash portion of the purchase price through recent capital market transactions and issued 6.87 million new common shares to the sellers. CEO Brad Childers emphasized the strategic benefits, highlighting the expansion of services and increased shareholder value. The acquisition aligns with Archrock’s commitment to providing safe and environmentally responsible natural gas compression services, supporting its mission of powering a cleaner America.
Energy Infrastructure, Midstream Services,United States
https://www.globenewswire.com/news-release/2024/08/30/2938709/0/en/Archrock-Completes-Acquisition-of-Total-Operations-and-Production-Services-LLC.html