Kodiak Gas Services, Inc.

Kodiak Gas Services, Inc. is a leading provider and operator of large horsepower contract compression infrastructure in the U.S., supporting the movement and processing of natural gas across key production regions. Through its wholly-owned subsidiary, Kodiak Services, formed in 2011, the company has built and operated a substantial fleet of high-reliability compression assets for over a decade. On July 3, 2023, the company completed its IPO, and its common stock trades on the New York Stock Exchange ("NYSE") under the ticker symbol "KGS." The business is managed through two operating segments: Contract Services and Other Services. The Contract Services and related services are critical to customers' ability to reliably produce, gather, and transport natural gas and oil. The company is a market leader in the Permian Basin, the largest producing natural gas and oil basin in the U.S. It operates large horsepower compression units under fixed-revenue term contracts with many upstream and midstream customers. These large horsepower compression units serve stable applications, receive longer initial contracts, are more likely to be renewed, and produce higher margins, generating recurring cash flow and return on invested capital. When properly maintained, the compression assets have long useful lives, consistent with the expected production lives of the key regions where the company operates.