Archrock Inc Stock Price, News & Analysis

Archrock has released its 2023 Sustainability Report, highlighting significant achievements in safety, environmental performance, and operational excellence. The company exceeded safety targets, achieving zero Lost Time Incident Rate for the third consecutive year and winning the GPSA Excellence in Safety Award. Key accomplishments include a 19% reduction in CO2 emissions intensity, 20% investment of organic growth capex in electric drive compression, and recognition as one of America's Most Responsible Companies by Newsweek.

The report coincides with Archrock's 70th Anniversary, showcasing the company's commitment to digitization, automation, and decarbonization through innovative technology investments. The report follows SASB midstream and TCFD reporting frameworks, demonstrating Archrock's dedication to transparency and sustainability standards.

Archrock (NYSE:AROC) has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024, at 9:00 a.m. Eastern Time. The company will release its Q3 2024 financial and operating results before the call. Investors can access the call via webcast on www.archrock.com or by phone using the access code 4749623. A replay of the webcast will be available on the company's website for 90 days after the call.

Archrock (NYSE: AROC) announced an increased quarterly dividend of $0.175 per share, equivalent to $0.70 annually. The dividend will be paid on November 13, 2024, to stockholders of record as of November 6, 2024. This represents a 6% increase from Q2 2024 and a 13% increase year-over-year. The company attributes the increase to strong natural gas demand growth, platform transformation, and the accretive TOPS acquisition. Management expressed commitment to high-return investments while maintaining prudent dividend and leverage coverage ratios.

Archrock (NYSE: AROC) has completed its acquisition of Total Operations and Production Services, (TOPS), adding 580,000 horsepower to its fleet, including 500,000 operating horsepower and a contracted backlog of new equipment. The transaction strengthens Archrock's compression operations in the Permian Basin and establishes its leadership in electric motor drive compression. Archrock issued approximately 6.87 million new common shares to the sellers and funded the $826 million cash portion of the purchase price with proceeds from recent capital markets transactions. The acquisition is expected to be accretive and create significant shareholder value, capitalizing on the robust market for natural gas and compression while increasing returns to shareholders.

Archrock, Inc. (NYSE: AROC) has announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for its pending acquisition of Total Operations and Production Services, . This expiration marks a significant milestone in the acquisition process, satisfying a important condition for the transaction's completion. The company anticipates the deal will close in the third quarter of 2024, subject to meeting other customary closing conditions. This development signifies progress in Archrock's strategic move to expand its operations and potentially strengthen its market position in the energy services sector.

Archrock (NYSE: AROC) has announced the closing of a $700 million senior notes offering by its subsidiary, Archrock Partners. The notes, due in 2032, carry a 6.625% interest rate. The proceeds will primarily fund the acquisition of Total Operations and Production Services, , and a tender offer for up to $200 million of Archrock Partners' existing 6.875% senior notes due 2027. Any remaining funds will be used for general corporate purposes, potentially including debt repayment.

The notes were offered privately to qualified institutional buyers and non-U.S. persons, in compliance with Securities Act regulations. This offering is not registered under the Securities Act and is subject to certain restrictions on resale and transfer.

Archrock (NYSE: AROC) announced the early results and initial settlement date for its tender offer to purchase up to $200 million of its 6.875% Senior Unsecured Notes due 2027. As of the Early Tender Deadline on August 23, 2024, approximately $312.3 million in aggregate principal amount of Notes were tendered, exceeding the $200 million Tender Cap. Due to oversubscription, Archrock will accept tendered Notes on a prorated basis using a factor of about 64%. The Initial Settlement Date is set for August 26, 2024. Holders tendering after the Early Tender Deadline will not have their Notes accepted for payment. The offer will expire on September 10, 2024, unless extended or terminated earlier.

Archrock (NYSE: AROC) announced the pricing of an upsized private offering by its subsidiary, Archrock Partners, of $700 million in 6.625% senior notes due 2032. The notes were priced at par, with the offering expected to close on August 26, 2024. Concurrently, Archrock Partners initiated a tender offer to purchase up to $200 million of its 6.875% Senior Unsecured Notes due 2027.

The net proceeds will be used to fund part of the cash consideration for Archrock's acquisition of Total Operations and Production Services, , to fund the tender offer, and for general corporate purposes, including potential debt repayment. The notes are being offered only to qualified institutional buyers and non-U.S. persons in compliance with Securities Act regulations.

Archrock, Inc. (NYSE: AROC) has announced that its subsidiaries, Archrock Partners, L.P. and Archrock Partners Finance Corp., have initiated a tender offer to purchase up to $200,000,000 of their outstanding 6.875% Senior Unsecured Notes due 2027. The offer includes two pricing tiers: $1,009.00 per $1,000 principal amount for notes tendered by the Early Tender Deadline (August 23, 2024), and $979 per $1,000 for notes tendered after the Early Tender Deadline but before the Expiration Time (September 10, 2024). Tendering holders will also receive accrued and unpaid interest. The offer is subject to certain conditions and can be terminated at the Offerors' discretion.