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Kodiak Gas Services Reports Higher Fleet Horsepower, Expands Power Capacity Pipeline in Q1

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Kodiak Gas Services (KGS), a leading provider of natural gas contract compression services, released its Q1 results on Monday, reporting total fleet horsepower of 4.47 million, up from 4.42 million during the corresponding period a year ago, reflecting continued strong demand for compression infrastructure across US natural gas markets.

Revenue-generating horsepower increased to 4.39 million horsepower from 4.28 million horsepower, with fleet utilization following suit at 98.0%, from 96.9%.

The company also said that it had secured more than 260 megawatts of additional power generation capacity as it accelerates the expansion of its newly acquired distributed power business.

It expects to receive 61 MW of the new capacity during 2026, with the remaining equipment scheduled for delivery between 2027 and 2029

Kodiak also noted that it expects annual power generation capacity additions of between 300 MW and 500 MW through 2030 as it scales its distributed power operations.

It added that the recent equipment orders are expected to increase its available power generation capacity to more than 650 MW in the coming years, while providing a "clear line of sight" toward surpassing 2 gigawatts of total capacity by the end of the decade.

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