Midstream Energy Infrastructure / Natural Gas Compression Services
Strategic Profile
The Master Limited Partnership provides compression services under long-term, take-or-pay contracts, with operations concentrated on high-horsepower applications that comprise over 75% of its active fleet, deployed across five major basins with favorable economics. Energy Transfer LP owns 46.9% of outstanding common units and the non-economic general partnership.
Cyborg Score Rationale
In 3Q 2025, USAC posted record adjusted EBITDA of $160 million, with contract operations revenue rising 5% year-over-year and full-year EBITDA guidance increased by 2.5%, reflecting tight market conditions and 94% average horsepower utilization. The company benefits from 100% fixed-fee contracts with no commodity price or short-term volumetric risk.
Top Insights
USAC offers an 8.5% indicated annualized yield with potential upside to $30 per unit at a recent price of $24.60
Rating agencies highlight USAC's geographic diversity, scale, customer retention, and long-term relationships with investment-grade counterparties
The company serves shales and unconventional resource plays where demand is about three times that in conventional areas
Over 75% of active compression fleet deployed in high-horsepower applications across five major basins with favorable economics
Named Competitors
Compression Services — Marine and compression services provider
Compression Equipment — Energy infrastructure and compression services
Midstream Infrastructure — Parent company with diversified energy infrastructure
Recent Developments
(March 2026) Record adjusted EBITDA of $160 million in 3Q 2025 with 94% fleet utilization