Natural Gas Services Group, Inc. Announces Preliminary Second Quarter Reporting Date and Earnings Call
August 06 2020 - 4:29PM
Natural Gas Services Group, Inc. (NGS:NYSE), a leading provider of
gas compression equipment and services to the energy industry,
announced today that it has filed Form 12b-25 with the Securities
and Exchange Commission in order to extend the due date of its
Quarterly Report on Form 10-Q for the period ended June 30, 2020
(the “Quarterly Report”) for five calendar days, as permitted by
Rule 12b-25 under the Securities Exchange Act. The Company intends
to file its Form 10-Q as soon as practicable and expects to hold
its earnings call on August 18, 2020 at 10:00 am CDT (11:00 a.m.
EDT). All attendees can join the call by dialing 877-358-7306, pass
code "Natural Gas Services".
In its Form 12b-25 filing the company explained
that the Quarterly Report could not be filed within the prescribed
time period due to the fact that the Company was unable to finalize
its financial results without unreasonable expense or effort, which
resulted primarily from circumstances related to the coronavirus
disease 2019 (“COVID-19”) pandemic outbreak.
Due to an acceleration of positive COVID-19
cases in the Midland, Texas area, including a verified positive
test among the Company’s professional staff, the Company was forced
to close its corporate headquarters for a second time on June 29,
2020. The Company’s corporate headquarters remains
closed as of the date of the filing. The office closure - which was
dictated by positive testing and subsequent quarantines - and
staffing challenges resulted in delays in our collection and
assimilation of financial data related to the completion of our
interim financial statements required for our Quarterly Report.
About Natural Gas Services Group,
Inc. (NGS)
NGS is a leading provider of gas compression
services and equipment to the energy industry. The Company
manufactures, fabricates, rents, sells and maintains natural gas
compressors and flare systems for oil and natural gas production
and plant facilities. NGS is headquartered in Midland,
Texas, with fabrication facilities located in Tulsa,
Oklahoma and Midland, Texas, and service facilities
located in major oil and natural gas producing regions in
the U.S. Additional information can be found
at www.ngsgi.com.
Cautionary Note Regarding
Forward-Looking Statements
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 potential impacts of the COVID-19 pandemic on the
Company’s business; a prolonged, substantial reduction in oil and
natural gas prices which could cause a decline in the demand for
NGS's products and services; the loss of market share through
competition or otherwise; the introduction of competing
technologies by other companies; 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 most recent Annual Report on Form
10-K, as well as the Company’s Form 10-Q for the quarterly period
ended March 31, 2020, as filed with the Securities and
Exchange Commission.
For Additional Information
Alicia DadaInvestor Relations(432)
262-2700Alicia.Dada@ngsgi.com www.ngsgi.com
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