美国压缩伙伴有限公司2025年季度报告

SECURITIES AND EXCHANGE COMMISSION (MARK ONE) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of May1, 2025, there were117,582,364common units outstanding. TABLE OF CONTENTS GLOSSARY The abbreviations, acronyms and industry terminology used in this Quarterly Report on Form 10-Q are defined as follows: USA COMPRESSION PARTNERS, LPUnaudited Condensed Consolidated Statements of Operations USA COMPRESSION PARTNERS, LPUnaudited Condensed Consolidated Statements of Changes in Partners’ Deficit(in thousands, except per unit amounts) (in thousands) USA COMPRESSION PARTNERS, LPNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (1)Organization and Description of Business Unless otherwise indicated, the terms “our,” “we,” “us,” “the Partnership,” and similar language refer to USA Compression Partners,LP, collectively with its consolidated subsidiaries. We are a Delaware limited partnership. Through our operating subsidiaries, we provide natural gas compression services to customersunder fixed-term contracts in the natural gas and crude oil industries, using compression packages that we design, engineer, own, operate,and maintain. We also own and operate a fleet of equipment used to provide natural gas treating services, such as carbon dioxide andhydrogen sulfide removal, cooling, and dehydration. We provide compression services in unconventional resource plays throughout the USA Compression GP, LLC, a Delaware limited liability company, serves as our general partner and is referred to herein as the“General Partner.” The General Partner is wholly owned by Energy Transfer. The accompanying unaudited condensed consolidated financial statements include the accounts of the Partnership and its subsidiaries,all of which are wholly owned by us. (2)Basis of Presentation and Significant Accounting Policies Basis of Presentation Our accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuantto SEC rules and regulations. In the opinion of our management, financial information presented herein reflects all normal recurring adjustments necessary for thefair presentation of these interim unaudited condensed consolidated financial statements in accordance with GAAP. Operating results forthe three months ended March31, 2025, are not necessarily indicative of the results that may be expected for the year endingDecember31, 2025. Certain information and footnote disclosures normally included in annual consolidated financial statements preparedin accordance with GAAP have been condensed or omitted in accordance with SEC rules and regulations. Therefore, these interim Use of Estimates Our unaudited condensed consolidated financial statements have been prepared in conformity with GAAP, which includes the use ofestimates and assumptions by management that affect the reported amounts of assets, liabilities, revenues, expenses, and disclosure ofcontingent assets and liabilities that existed as of the date of the unaudited condensed consolidated financial statements. Although these Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances. We consider investments in highly liquid financial instruments purchased withan original maturity of 90 days or less to be cash equivalents. Trade Accounts Receivable Trade accounts receivable are recorded at their invoiced amounts. Allowance for Credit Losses We evaluate allowance for credit losses with reference to our trade accounts receivable balances, which are measured at amortizedcost.Due to the short-term nature of our trade accounts receivable, we consider the amortized cost of trade accounts receivable to equal the Our determination of the allowance for credit losses requires us to make estimates and judgments regarding our customers’ ability topay amounts due. We continuously evaluate the financial strength of our customers and the overall business climate in which ourcustomers operate, and make adjustments to the allowance for credit losses as necessary. We evaluate the financial strength of ourcust