Natural Gas Services Group Proudly Announces the Fabrication of Its 1,000th Rental Compressor
MIDLAND, Texas, June 27 /PRNewswire-FirstCall/ -- Natural Gas Services Group, Inc. (Amex: NGS), a leading provider of gas compression equipment and services to the natural gas industry, proudly announces that on June 27, 2006 it fabricated its 1,000th compressor for addition to its rental fleet.
The equipment was a standard NGS WELLMAKER(TM) model GS-17 with a 175mm LeRoi rotary screw gas compressor driven by a Cummins GTA8.3 natural gas engine. It features state-of-the-art operating features, including auto- start/stop capability, that perform across a wide range of pressure and flow conditions. This particular unit was fabricated by NGS at its rental packaging facility in Midland, TX and is already under rental contract to a customer in eastern New Mexico. It will be moved directly to the customer's location where it will be installed, started-up and maintained by NGS. The company has more than 800 WELLMAKER(TM) models on rent and they continue to be a popular design in many of the company's prime operating areas; especially the San Juan Basin of northwestern New Mexico and the Barnett Shale in north- central Texas.
Steve Taylor, Chairman, President and CEO of Natural Gas Services Group, Inc. said, "This is an important milestone for the company and the credit goes to our customers and employees for supporting and enabling this growth. We have increased our number of rental fleet units by approximately 50% in both 2004 and 2005 and this 1,000th unit illustrates the growth we continue to experience. Our strategy of focusing on small to medium horsepower, wellhead compression in unconventional natural gas markets has and will continue to drive our growth, our performance and our shareholder value."
About Natural Gas Services Group, Inc. (NGS)
NGS is a leading provider of small to medium horsepower, wellhead compression equipment to the natural gas industry with a primary focus on the non-conventional gas industry, i.e., coalbed methane, gas shales and tight gas. The Company manufactures, fabricates, rents and maintains natural gas compressors that enhance the production of natural gas wells. The Company also designs and sells custom fabricated natural gas compressors to particular customer specifications and sells flare systems for gas plant and production facilities. NGS is headquartered in Midland, Texas with manufacturing facilities located in Tulsa, Oklahoma; Lewiston, Michigan and Midland, Texas and service facilities located in major gas producing basins in the U.S.
For More Information, Contact: Jim Drewitz, Investor Relations
972-355-6070
jdrewitz@comcast.net
Or visit the Company's website at
http://www.ngsgi.com
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause NGS's actual results in future periods to differ materially from forecasted results. Those risks include, among other things, the loss of market share through competition or otherwise; the introduction of competing technologies by other companies; a prolonged, substantial reduction in oil and gas prices which could cause a decline in the demand for NGS's products and services; and new governmental safety, health and environmental regulations which could require NGS to make significant capital expenditures. The forward-looking statements included in this press release are only made as of the date of this press release, and NGS undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. A discussion of these factors is included in the Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission.
SOURCE Natural Gas Services Group, Inc.
-0- 06/27/2006
/CONTACT: Jim Drewitz, Investor Relations, +1-972-355-6070, for Natural
Gas Services Group, Inc./
/Web site: http://www.ngsgi.com /
(NGS)
CO: Natural Gas Services Group, Inc.
ST: Texas
IN: OIL
SU:
AW-CT
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8758 06/27/2006 10:20 EDT http://www.prnewswire.com