Oklahoma City-based Compressco Partners LP is going global in an effort to find its niche in the increasingly unconventional oil and natural gas industry.
Compressco is a production enhancement supplier, going to well sites to help oil and natural gas companies boost their production or resolve related issues like vapor recovery, President Ron Foster said.
Compressco is a spinoff of Tetra Technologies Co. that went public last summer as a master limited partnership. Its equipment gives companies working in oil-rich shale formations an alternative to venting natural gas.
It can capture the gas to sale or even to produce electricity.
“That's where we've grown the business ... over the last year,” Foster said.
The company's GasJack and VJack compressors can boost production from declining natural gas wells and increase recoverable reserves.
“It's just immediate cash flow” for Compressco's customers, Foster said.
The company designs, builds, monitors and services its own equipment.
“That is Compressco's claim to fame,” Foster said.
Kevin Sylvester, the company's vice president of production, said Compressco has streamlined its assembly line so new or rebuilt units can move efficiently through seven manufacturing stations.