USA Compression Partners is one of the largest providers of contract natural gas compression services in the U.S., operating as a master limited partnership (MLP). The company rents compression units to oil and gas producers, gatherers, processors, and pipeline operators, who use the equipment to move natural gas through gathering systems and pipelines and to enhance crude oil production via gas lift. USA Compression focuses on large-horsepower compression — units of 400 HP or above represent nearly 88% of total fleet horsepower — used primarily in centralized gathering and processing applications. As of early 2026, following the acquisition of J-W Power for approximately $860M, USA Compression operates roughly 4.9 million horsepower across every major U.S. basin, including the Permian, Northeast, Haynesville, Bakken, and Rockies. The company charges customers a fixed monthly fee per horsepower regardless of throughput volumes, which insulates revenue from short-term production volatility. Customers supply their own fuel gas, eliminating direct commodity price exposure. Contracts typically run six months to five years, with most customers billed in advance. Key revenue drivers are active horsepower deployed, utilization rates (running near 94-95%), and rate per HP, which USA Compression escalates annually and on renewals. The J-W Power deal also added internal fabrication capability, reducing dependence on third-party equipment packagers at a time when lead times for new large-horsepower units have extended beyond two years.