THE WOODLANDS, Texas,
July 25, 2019 /PRNewswire/
-- CSI Compressco LP ("CSI Compressco") (NASDAQ: CCLP)
announced the resignation, effective July
22, 2019, of Owen A. Serjeant as President of CSI Compressco
and as a director of CSI Compressco GP Inc., the general partner of
CSI Compressco. Mr. Serjeant's resignation was to address
personal matters.
Brady Murphy, the Chairman of the
Board of the General Partner and President, Chief Executive Officer
and a director of TETRA Technologies, Inc., will continue to serve
as interim President of CSI Compressco until a replacement is
appointed.
Mr. Murphy stated, "Owen has made positive contributions to CSI
Compressco during his tenure and we wish him the best going
forward." Mr. Murphy continued, "CSI Compressco continues to
be backed by a very strong management team and we continue to be
pleased with the performance of and outlook for the
Partnership."
About CSI Compressco
CSI Compressco is a provider of compression services and
equipment for natural gas and oil production, gathering,
transportation, processing, and storage. CSI Compressco's
compression and related services business includes a fleet of more
than 5,700 compressor packages providing approximately 1.17 million
in aggregate horsepower, utilizing a full spectrum of low, mid and
high horsepower engines. CSI Compressco also provides well
monitoring and automated sand separation services in conjunction
with compression and related services in Mexico. CSI
Compressco's equipment sales business includes the fabrication and
sale of standard compressor packages and custom-designed compressor
packages designed and fabricated primarily at our facility in
Midland, Texas. CSI Compressco's aftermarket business
provides compressor package reconfiguration and maintenance
services, as well as the sale of compressor package parts and
components manufactured by third-party suppliers. CSI
Compressco's customers comprise a broad base of natural gas and oil
exploration and production, mid-stream, transmission, and storage
companies operating throughout many of the onshore producing
regions of the United States, as
well as in a number of foreign countries, including Mexico, Canada and Argentina. CSI Compressco is
managed by CSI Compressco GP Inc., which is an indirect, wholly
owned subsidiary of TETRA Technologies, Inc. (NYSE: TTI).
This news release serves as qualified notice to nominees as
provided for under Treasury Regulation Section 1.1446-4(b)(4) and
(d). CSI Compressco's distributions to foreign investors are
subject to federal tax withholding at the highest applicable
effective tax rate. Nominees are treated as withholding
agents responsible for withholding distributions received by them
on behalf of foreign investors.
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SOURCE CSI Compressco LP