HOUSTON--(BUSINESS WIRE)--Jul. 22, 2015--
Exterran Holdings, Inc. (NYSE:EXH) announced today that its previously
announced record date of July 22, 2015 and distribution date of July 31,
2015 for the spin-off of its international services and global
fabrication businesses into a stand-alone, publicly traded company named
Exterran Corporation will change. Exterran Holdings remains committed to
closing the spin-off as soon as practicable. When determined, Exterran
Holdings will announce a new record date and provide an update on its
expectations for the commencement of when-issued trading and the
distribution date.
About Exterran Holdings
Exterran Holdings, Inc. is a global market leader in full-service
natural gas compression and a premier provider of operations,
maintenance, service and equipment for oil and gas production,
processing and transportation applications. Exterran Holdings serves
customers across the energy spectrum – from producers to transporters to
processors to storage owners. Headquartered in Houston, Texas, Exterran
has approximately 10,000 employees and operates in approximately 30
countries. Exterran Holdings owns an equity interest, including all of
the general partner interest, in Exterran Partners, L.P. (NASDAQ: EXLP),
a master limited partnership, the leading provider of natural gas
contract compression services to customers throughout the United States.
For more information, visit www.exterran.com.
Upon completion of the spin-off, Exterran Holdings will be renamed
Archrock, Inc. Archrock will be the leading provider of natural gas
contract compression services to customers throughout the United States.
In addition, Archrock will be a leading supplier of aftermarket services
to customers that own compression equipment in the United States.
Archrock will be headquartered in Houston, Texas, operating in the major
oil and gas producing regions in the United States, with approximately
2,500 employees. Archrock will continue to own an equity interest,
including all of the general partner interest, in Archrock Partners,
L.P. (which Exterran Partners will be renamed upon completion of the
spin-off).
About Exterran Corporation
Exterran Corporation will be a market leader in compression, production
and processing products and services, serving customers throughout the
world engaged in all aspects of the oil and natural gas industry. Its
global product lines will include natural gas compression, process &
treating and production equipment and water treatment solutions. Outside
the United States, Exterran Corporation will be a leading provider of
full-service natural gas contract compression and a supplier of new,
used, OEM and aftermarket parts and services. Exterran Corporation will
be headquartered in Houston, Texas, and will operate in approximately 30
countries with approximately 7,000 employees.
Forward-Looking Statements
All statements in this release (and oral statements made regarding the
subjects of this release) other than historical facts are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements rely on a number of assumptions concerning future events and
are subject to a number of uncertainties and factors, many of which are
outside Exterran Holdings’ control, which could cause actual results to
differ materially from such statements. Forward-looking information
includes, but is not limited to: Exterran Holdings’ plan to separate and
spin-off its international services and global fabrication businesses
into a stand-alone, publicly traded company named Exterran Corporation,
the timing of the record date for the spin-off, the timing of the
distribution of Exterran Corporation common stock, the timing of trading
in Exterran Holdings and Exterran Corporation prior to the distribution
date and the possibility that the proposed spin-off will be consummated.
While Exterran Holdings believes that the assumptions concerning future
events are reasonable, it cautions that there are inherent difficulties
in predicting certain important factors that could impact the future
performance or results of its business. Among the factors that could
cause results to differ materially from those indicated by such
forward-looking statements are: local, regional, national and
international economic conditions and the impact they may have on
Exterran Holdings and its customers; changes in tax laws that impact
master limited partnerships; conditions in the oil and gas industry,
including a sustained decrease in the level of supply or demand for oil
or natural gas or a sustained decrease in the price of oil or natural
gas; delays, costs and difficulties that could impact the completion and
expected results of the proposed separation transaction; Exterran
Holdings’ ability to timely and cost-effectively execute larger
projects; changes in political or economic conditions in key operating
markets, including international markets; any non-performance by third
parties of their contractual obligations; changes in safety, health,
environmental and other regulations; and the performance of Exterran
Partners.
These forward-looking statements are also affected by the risk factors,
forward-looking statements and challenges and uncertainties described in
Exterran Holdings’ Annual Report on Form 10-K for the year ended
December 31, 2014, Exterran Corporation’s Registration Statement on Form
10 and Exterran Holdings’ filings with the Securities and Exchange
Commission, which are available at www.exterran.com.
Except as required by law, Exterran Holdings and Exterran Corporation
expressly disclaim any intention or obligation to revise or update any
forward-looking statements whether as a result of new information,
future events or otherwise.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the senior notes due 2022 or any other
securities.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150722006563/en/
Source: Exterran Holdings, Inc.
Exterran Holdings, Inc.
Susan Moore, 281-836-7398
Media
or
David
Oatman, 281-836-7035
Investors