Archrock, Inc.

Archrock, Inc. (NYSE: AROC) is an energy infrastructure company headquartered in the United States with a primary focus on midstream natural gas compression services. The company operates through two reportable business segments: Contract Operations, which generated 85% of total revenue in 2025, and Aftermarket Services, which accounted for 15% of revenue. Archrock is the premier provider of natural gas compression services in the U.S. in terms of total compression fleet horsepower and a leading supplier of aftermarket services to customers owning compression equipment.

The company's Contract Operations segment designs, sources, owns, installs, operates, services, repairs and maintains a fleet of natural gas compression equipment to provide compression services to customers throughout the U.S. As of December 31, 2025, Archrock operated a fleet of 5,319 compression units totaling 4,788 thousand horsepower, with 74% of operating horsepower comprised of large units exceeding 1,000 horsepower per unit. The average age of the operating fleet was 10 years. The Aftermarket Services segment provides operations, maintenance, overhaul and reconfiguration services and sells parts and components to customers owning compression equipment.

Archrock serves approximately 300 customers across all major U.S. natural gas and crude oil producing regions, with meaningful presence in associated gas plays including the Permian and Eagle Ford shales. The company's five most significant customers collectively accounted for 35% of contract operations and aftermarket services revenue in 2025. Natural gas compression is essential to the production, processing, transportation and storage of natural gas, with compression services representing a must-run service critical to midstream energy infrastructure.

The company's business model emphasizes fee-based fixed monthly contracts that reduce commodity price exposure and enhance cash flow stability. Archrock maintains field service locations throughout the U.S. and employs a regionally-based network focused on superior customer service and technical expertise. The company has a long operating history in the compression industry and maintains a robust database of fleet financial and operational metrics. Recent strategic acquisitions include the NGCS Acquisition completed in May 2025 and the TOPS Acquisition completed in August 2024, which expanded the company's service capabilities and geographic reach.