Profile: Exterran Holdings Inc (EXH.N)

EXH.N on New York Stock Exchange

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Exterran Holdings, Inc. (Exterran), incorporated on February 2, 2007, is engaged in the full-service natural gas compression business. The Company is a provider of operations, maintenance, service and equipment for oils and natural gas production, processing and transportation applications. The Company's customer base consists of companies engaged in all aspects of the oil and natural gas industry, including integrated oil and natural gas companies, national oil and natural gas companies, independent producers and natural gas processors, gatherers and pipelines. The Company operates in three segments: contract operations, fabrication and aftermarket services. Exterran has an equity interest in Exterran Partners, L.P. (the Partnership), which is a master limited partnership that provides natural gas contract operations services to customers throughout the United States. In April 2013, Exterran Partners LP has completed the acquisition of compression assets from the Company.

In the Company's contract operations business line, the Company owns a fleet of natural gas compression equipment and crude oil and natural gas production and processing equipment that the Company utilizes to provide operations services to its customers. In the Company's fabrication business line, the Company fabricates equipment for sale to its customers and for use in its contract operations services. In addition, the Company's fabrication business line provides engineering, procurement and fabrication services primarily related to the manufacturing of critical process equipment for refinery and petrochemical facilities, the fabrication of tank farms and the fabrication of evaporators and brine heaters for desalination plants.

The Company offers its customers, on either a contract operations basis or a sale basis, the engineering, designs, project management, procurement and construction services necessary to incorporate its products into production, processing and compression facilities. In the Company's aftermarket services business line, the Company sells parts and components and provides operations, maintenance, overhaul and reconfiguration services to customers who own compression, production, processing, treating and other equipment.

The Company's North America contract operations segment primarily provides natural gas compression and production and processing services to meet specific customer requirements utilizing Exterran-owned assets within the United States. The Company's international contract operations segment provides substantially the same services as the Company's North America contract operations segment except it services locations outside the United States. Services provided in its international contract operations segment include engineering, procurement and on-site construction of natural gas compression stations and/or crude oil or natural gas production and processing facilities.

The Company's aftermarket services segment provides a range of services to support the surface production, compression and processing needs of customers, from parts sales and normal maintenance services to full operation of a customer's owned assets. The Company's fabrication segment provides design, engineering, fabrication, installation and sale of natural gas compression units and accessories and equipment used in the production, treating and processing of crude oil and natural gas, and engineering, procurement and fabrication services primarily related to the manufacturing of critical process equipment for refinery and petrochemical facilities, the fabrication of tank farms and the fabrication of evaporators and brine heaters for desalination plants.

Compressor Fleet

As of December 31, 2012, the Partnership's fleet included 4,803 of compressor units consisting of approximately 2,084,000 horsepower, or 62% (by then available horsepower) of the Company's and the Partnership's combined total United States horsepower. The Partnership fleet included 323 compressor units with an aggregate horsepower of approximately 163,000 leased from the Company's wholly-owned subsidiaries and excluded 24 compressor units with an aggregate horsepower of approximately 9,000 leased to its wholly owned subsidiaries as of December 31, 2012.

Contract Operations-North America and International

The Company provides contract operations services, including the personnel, equipment, tools, materials and supplies to meet its customers' natural gas compression, production or processing service needs. The Company also provides contract production and processing services, utilizing its fleet of oil and natural gas production and processing equipment. As of December 31, 2012, the Company's North America contract operations segment provided contract operations services primarily using a fleet of 7,651 natural gas compression units with an aggregate capacity of approximately 3,376,000 horsepower and production and processing facilities.

The Company's international contract operations segment engages in longer-term contracts. As of December 31, 2012, the Company's international contract operations segment provided contract operations services using a fleet of 1,032 natural gas compression units with an aggregate capacity of approximately 1,265,000 horsepower and a fleet of production and processing equipment.

Aftermarket Services

The Company's aftermarket services segment sells parts and components and provides operation, maintenance, overhaul and reconfiguration services to customers who own compression, production, treating and oilfield power generation equipment. As of December 31, 2012, 14% of the Company's total revenue and 10% of its total gross margin was generated from aftermarket services.

Fabrication

The Company designs, engineers, fabricate, installs and sells skid-mounted natural gas compression units and accessories to meet standard or customer specifications. It sells this compression equipment primarily to independent oil and natural gas producers as well as national oil and natural gas companies in the countries where it operates. The Company also sells pre-packaged compressor units. As of December 31, 2012, 16% of its total revenue and 4% of its total gross margin was generated from its compressor and accessory fabrication business line.

The products include line heaters, oil and natural gas separators, glycol dehydration units, condensate stabilizers, dewpoint control plants, water treatment, mechanical refrigeration and cryogenic plants and skid-mounted production packages designed for both onshore and offshore production facilities. The Company sells standard production and processing equipment, which is used for processing wellhead production from onshore or shallow-water offshore platform production primarily into the United States markets. In addition, it sells custom-engineered, built-to-specification production and processing equipment.

It also provides engineering, procurement and fabrication services primarily related to the manufacturing of critical process equipment for refinery and petrochemical facilities, the fabrication of tank farms and the fabrication of evaporators and brine heaters for desalination plants. As of December 31, 2012, 32% of its total revenue and 15% of its total gross margin was generated from its production and processing equipment fabrication business line.

Company Address

Exterran Holdings Inc

16666 Northchase Drive
HOUSTON   TX   77060
P: +1281.8367000
F: +1302.6555049

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