Nova Compression Continues Industry Leading Growth with New Acquisition

OKLAHOMA CITY, Dec. 2, 2021 /PRNewswire/ -- Nova Compression, LLC, (Nova) a full-service gas compression company with operations in Oklahoma, Texas and Louisiana, today announced a large purchase of compression packages, adding over 170,000 horsepower to its total fleet. The acquisition from Heartland Compression, a subsidiary of Reserve, LA-based Louisiana Machinery (LMC), solidifies Nova's status as one of the fastest growing energy service companies in the nation.

Nova began 2021 with 40,000 horsepower in total fleet before making large acquisitions in February and again in October. The addition of 170,000 horsepower this month brings Nova's total fleet to approximately 300,000 horsepower, a 750% increase in total capacity this year. Nova's staff has also increased from 30 employees in January to over 120. The growth has equated to returns for shareholders, with Nova reporting a 1,900% increase in earnings.

"Nova is growing at an astronomical rate, and it's exciting to be part of that growth and success," said Chief Executive Officer Jonathan Mitchell. "At the same time, our identity has not changed. We are a service-oriented business and our focus – regardless of our size – is on providing our customers with the best, most reliable and most cost-effective services on the market."

Louisiana Machinery Chief Financial Officer Jason Maurin said Nova's values made it an ideal business partner.

"Louisiana Machinery is pleased to be part of Nova's extraordinary growth," said Maurin. "Our compression business was built on customer relationships that were fostered through our premium equipment and service. It was important that the buyers of our business shared these values, and it is clear that the leadership and shareholders of Nova Compression are aligned in their customer centric focus. We look forward to a continued relationship with Nova and wish them well in their future business endeavors."

Nova was founded in 2007 and has served the Texas and Midcontinent regions since that time. Subsequent to closing the acquisition from LMC, Nova now has approximately 300,000 horsepower deployed in Oklahoma, South Texas, West Texas and Ark-La-Tex. Oklahoma-based law firm Hall Estill served as counsel for Nova.

About Nova Compression

Nova Compression, is a fast-growing, full-service compression company that utilizes Caterpillar, Waukesha, and Cummins engines with Gemini and Ariel compressor frames. Providing customers with all their gas lift, wellhead and general gas compression needs, from contract compression and maintenance as well as service, and repair.

Media Contact: Alex Weintz; [email protected]  

SOURCE Nova Compression

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