Kodiak Gas Services (KGS) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-41732
Entity Registrant Name	Kodiak Gas Services, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-3013440
Entity Address, Address Line One	9950 Woodloch Forest Drive
Entity Address, Address Line Two	Suite 1900
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	936
Local Phone Number	539-3300
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	KGS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		87,569,679
Entity Central Index Key	0001767042
Document Fiscal End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 7,434	$ 5,562
Accounts receivable, net	280,436	113,192
Inventories, net	118,085	76,238
Fair value of derivative instruments	4,110	8,194
Contract assets	13,491	17,424
Prepaid expenses and other current assets	19,801	10,353
Total current assets	443,357	230,963
Property, plant and equipment, net	3,406,325	2,536,091
Operating lease right-of-use assets, net	54,489	33,716
Finance lease right-of-use assets, net	4,702	0
Goodwill	413,532	305,553
Identifiable intangible assets, net	161,263	122,888
Fair value of derivative instruments	5,121	14,256
Deferred tax assets	17	0
Other assets	3,202	639
Total assets	4,492,008	3,244,106
Current liabilities:
Accounts payable	85,848	49,842
Accrued liabilities	192,762	97,078
Contract liabilities	70,178	63,709
Total current liabilities	348,788	210,629
Long-term debt, net of unamortized debt issuance cost	2,595,398	1,791,460
Operating lease liabilities	50,491	34,468
Finance lease liabilities	2,737	0
Deferred tax liabilities	94,231	62,748
Other liabilities	3,971	2,148
Total liabilities	3,095,616	2,101,453
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, par value $0.01 per share; $50,000,000 shares of preferred stock authorized, $5,562,273 and zero shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively	56	0
Common stock, par value $0.01 per share; $750,000,000 shares of common stock authorized, $84,509,612 and $77,400,000 shares of common stock issued as of September 30, 2024, and December 31, 2023, respectively	845	774
Additional paid-in capital	1,159,431	963,760
Treasury stock, at cost; 1,000,000 and zero shares held as of September 30, 2024, and December 31, 2023, respectively	(25,000)	0
Noncontrolling interest	149,846	0
Retained earnings	111,214	178,119
Total stockholders’ equity	1,396,392	1,142,653
Total liabilities and stockholders’ equity	$ 4,492,008	$ 3,244,106

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	5,562,273	0
Preferred stock, shares outstanding (in shares)	5,562,273	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	84,509,612	77,400,000
Treasury stock (in shares)	1,000,000	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 324,647	$ 230,983	$ 849,792	$ 624,401
Cost of operations (exclusive of depreciation and amortization shown below):
Depreciation and amortization	73,452	46,087	189,859	136,414
Long-lived asset impairment	9,921	0	9,921	0
Selling, general and administrative	35,528	19,648	120,279	46,171
(Gain) loss on sale of property, plant and equipment	10,376	0	9,203	(721)
Total operating expenses	258,568	170,025	669,388	441,028
Income from operations	66,079	60,958	180,404	183,373
Other income (expenses):
Interest expense, net	(53,991)	(39,710)	(145,864)	(182,030)
Loss on extinguishment of debt	0	(6,757)	0	(6,757)
Gain (loss) on derivatives	(20,327)	15,141	6,227	42,080
Other income (expense), net	(156)	38	(6)	39
Total other expenses, net	(74,474)	(31,288)	(139,643)	(146,668)
Income (loss) before income taxes	(8,395)	29,670	40,761	36,705
Income tax expense (benefit)	(2,184)	7,904	10,027	9,765
Net income (loss)	(6,211)	21,766	30,734	26,940
Net income (loss) attributable to noncontrolling interests	(563)	0	(78)	0
Net income (loss) attributable to common shareholders	$ (5,648)	$ 21,766	$ 30,812	$ 26,940
Earnings (loss) per share attributable to common shareholders:
Basic earnings (loss) per share (in dollars per share)	$ (0.07)	$ 0.28	$ 0.36	$ 0.41
Diluted earnings (loss) per share (in dollars per share)	$ (0.07)	$ 0.28	$ 0.33	$ 0.41
Basic weighted average shares of common stock outstanding (in shares)	84,292,083	76,731,868	81,774,211	64,954,244
Diluted weighted average shares of common stock outstanding (in shares)	84,292,083	76,899,483	88,345,983	65,121,859
Contract Services
Revenues:
Total revenues	$ 284,313	$ 186,673	$ 753,962	$ 545,989
Cost of operations (exclusive of depreciation and amortization shown below):
Cost of operations	96,617	65,470	261,832	193,257
Other Services
Revenues:
Total revenues	40,334	44,310	95,830	78,412
Cost of operations (exclusive of depreciation and amortization shown below):
Cost of operations	$ 32,674	$ 38,820	$ 78,294	$ 65,907

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Shares	Preferred Shares	Additional Paid- In Capital	Treasury Shares	Retained Earnings	Noncontrolling Interest
Common shares, beginning balance (in shares) at Dec. 31, 2022		59,000,000
Beginning balance at Dec. 31, 2022	$ 229,093	$ 590	$ 0	$ 33,189	$ 0	$ 195,314	$ 0
Preferred share, beginning balance (in shares) at Dec. 31, 2022			0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2022					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity compensation - profits interests, net of forfeitures	686			(193)		879
Net (loss) income	(12,343)					(12,343)
Common shares, ending balance (in shares) at Mar. 31, 2023		59,000,000
Ending balance at Mar. 31, 2023	217,436	$ 590	$ 0	32,996	$ 0	183,850	0
Preferred share, ending balance (in shares) at Mar. 31, 2023			0
Balance at end of period, Treasury stock (in shares) at Mar. 31, 2023					0
Common shares, beginning balance (in shares) at Dec. 31, 2022		59,000,000
Beginning balance at Dec. 31, 2022	229,093	$ 590	$ 0	33,189	$ 0	195,314	0
Preferred share, beginning balance (in shares) at Dec. 31, 2022			0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2022					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	26,940
Common shares, ending balance (in shares) at Sep. 30, 2023		77,400,000
Ending balance at Sep. 30, 2023	1,171,792	$ 774	$ 0	956,465	$ 0	214,553	0
Preferred share, ending balance (in shares) at Sep. 30, 2023			0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2023					0
Common shares, beginning balance (in shares) at Mar. 31, 2023		59,000,000
Beginning balance at Mar. 31, 2023	217,436	$ 590	$ 0	32,996	$ 0	183,850	0
Preferred share, beginning balance (in shares) at Mar. 31, 2023			0
Balance at beginning of period, Treasury stock (in shares) at Mar. 31, 2023					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution to parent	(42,300)			(33,189)		(9,111)
Equity compensation - profits interests, net of forfeitures	222			193		29
Net (loss) income	17,517					17,517
Common shares, ending balance (in shares) at Jun. 30, 2023		59,000,000
Ending balance at Jun. 30, 2023	192,875	$ 590	$ 0	0	$ 0	192,285	0
Preferred share, ending balance (in shares) at Jun. 30, 2023			0
Balance at end of period, Treasury stock (in shares) at Jun. 30, 2023					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity compensation - profits interests, net of forfeitures	502					502
Proceeds from initial public offering, net of underwriter discount (in shares)		18,400,000
Proceeds from initial public offering, net of underwriter discount	277,840	$ 184		277,656
Equity compensation - Omnibus Plan, net of forfeitures	2,042			2,042
Offering costs	(10,823)			(10,823)
Debt novation	687,590			687,590
Net (loss) income	21,766					21,766
Common shares, ending balance (in shares) at Sep. 30, 2023		77,400,000
Ending balance at Sep. 30, 2023	1,171,792	$ 774	$ 0	956,465	$ 0	214,553	0
Preferred share, ending balance (in shares) at Sep. 30, 2023			0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2023					0
Common shares, beginning balance (in shares) at Dec. 31, 2023		77,400,000
Beginning balance at Dec. 31, 2023	$ 1,142,653	$ 774	$ 0	963,760	$ 0	178,119	0
Preferred share, beginning balance (in shares) at Dec. 31, 2023	0		0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2023	0				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity compensation - profits interests, net of forfeitures	$ 161					161
Equity compensation - Omnibus Plan, net of forfeitures	2,687			2,687
Offering costs	(421)			(421)
Dividends and dividends equivalents paid to stockholders	(30,052)					(30,052)
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes (in shares)		34,577
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes	(294)			(294)
Net (loss) income	30,232					30,232
Other	7					7
Common shares, ending balance (in shares) at Mar. 31, 2024		77,434,577
Ending balance at Mar. 31, 2024	1,144,973	$ 774	$ 0	965,732	$ 0	178,467	0
Preferred share, ending balance (in shares) at Mar. 31, 2024			0
Balance at end of period, Treasury stock (in shares) at Mar. 31, 2024					0
Common shares, beginning balance (in shares) at Dec. 31, 2023		77,400,000
Beginning balance at Dec. 31, 2023	$ 1,142,653	$ 774	$ 0	963,760	$ 0	178,119	0
Preferred share, beginning balance (in shares) at Dec. 31, 2023	0		0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2023	0				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ 30,734
Common shares, ending balance (in shares) at Sep. 30, 2024		84,509,612
Ending balance at Sep. 30, 2024	$ 1,396,392	$ 845	$ 56	1,159,431	$ (25,000)	111,214	149,846
Preferred share, ending balance (in shares) at Sep. 30, 2024	5,562,273		5,562,273
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2024	1,000,000				1,000,000
Common shares, beginning balance (in shares) at Mar. 31, 2024		77,434,577
Beginning balance at Mar. 31, 2024	$ 1,144,973	$ 774	$ 0	965,732	$ 0	178,467	0
Preferred share, beginning balance (in shares) at Mar. 31, 2024			0
Balance at beginning of period, Treasury stock (in shares) at Mar. 31, 2024					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares for business acquisition (in shares)		6,785,712
Issuance of common shares for business acquisition	188,167	$ 68		188,099
Issuance of preferred shares and noncontrolling interest for business acquisition (in shares)			5,562,273
Issuance of preferred shares and noncontrolling interest for business acquisition	154,118		$ 56	(124)			154,186
Equity compensation - profits interests, net of forfeitures	21					21
Equity compensation - Omnibus Plan, net of forfeitures	5,290			4,963			327
Offering costs	(741)			(741)
Dividends and dividends equivalents paid to stockholders	(32,796)					(32,796)
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes (in shares)		92,071
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes	(103)	$ 1		(104)
Distributions to noncontrolling interest	(2,460)						(2,460)
Net (loss) income	6,713					6,228	485
Other	201			(90)		300	(9)
Common shares, ending balance (in shares) at Jun. 30, 2024		84,312,360
Ending balance at Jun. 30, 2024	1,463,383	$ 843	$ 56	1,157,735	$ 0	152,220	152,529
Preferred share, ending balance (in shares) at Jun. 30, 2024			5,562,273
Balance at end of period, Treasury stock (in shares) at Jun. 30, 2024					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity compensation - profits interests, net of forfeitures	21					21
Equity compensation - Omnibus Plan, net of forfeitures	3,884			3,641			243
Dividends and dividends equivalents paid to stockholders	(35,297)					(35,297)
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes (in shares)		197,252
Restricted Stock Units vested under the Omnibus Plan, net of shares withheld for taxes	(2,369)	$ 2		(2,371)
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock	418			418
Repurchase of common shares (in shares)					1,000,000
Repurchase of common shares	(25,000)				$ (25,000)
Distributions to noncontrolling interest	(2,421)						(2,421)
Net (loss) income	(6,211)					(5,648)	(563)
Other	(16)			8		(82)	58
Common shares, ending balance (in shares) at Sep. 30, 2024		84,509,612
Ending balance at Sep. 30, 2024	$ 1,396,392	$ 845	$ 56	$ 1,159,431	$ (25,000)	$ 111,214	$ 149,846
Preferred share, ending balance (in shares) at Sep. 30, 2024	5,562,273		5,562,273
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2024	1,000,000				1,000,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]
Common stock, dividends (in dollars per share)	$ 0.41	$ 0.38	$ 0.38
Restricted stock units (in shares)	79,205	13,592	14,698

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ (6,211)	$ 30,232	$ 21,766	$ (12,343)	$ 30,734	$ 26,940
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	73,500		46,100		189,859	136,414
Long-lived asset impairment	9,921		0		9,921	0
Equity compensation expense					12,064	3,452
Amortization of debt issuance costs	3,100		200		8,079	11,260
Non-cash lease expense					3,164	3,132
Provision for credit losses					4,625	2,047	$ 7,101
Inventory reserve					476	375
(Gain) loss on sale of property, plant and equipment	10,376		0		9,203	(721)
Change in fair value of derivatives					13,219	13,551
Deferred tax provision					4,821	6,312
Loss on extinguishment of debt					0	4,359
Changes in operating assets and liabilities, exclusive of effects of business acquisition:
Accounts receivable					(126,941)	(21,371)
Inventories					(7,895)	1,174
Contract assets					3,934	(6,053)
Prepaid expenses and other current assets					(747)	(3,733)
Accounts payable					40,204	3,257
Accrued and other liabilities					9,593	8,497
Contract liabilities					5,068	14,807
Other assets					121	0
Net cash provided by operating activities					209,502	203,699
Cash flows from investing activities:
Net cash acquired in acquisition of CSI Compressco LP					9,458	0
Purchase of property, plant and equipment					(263,719)	(145,573)
Proceeds from sale of property, plant and equipment and sale of entity					14,977	1,055
Other					(35)	(45)
Net cash used in investing activities					(239,319)	(144,563)
Cash flows from financing activities:
Borrowings on debt instruments					2,297,435	756,418
Payments on debt instruments					(2,114,013)	(1,021,556)
Principal payments on other borrowings					(3,721)	0
Payment of debt issuance cost					(16,346)	(32,759)
Dividends paid to stockholders	(35,113)	(29,815)			(97,506)	0	(29,793)
Repurchase of common shares					(25,000)	0
Principal payments on finance leases					(870)	0
Proceeds from initial public offering, net of underwriter discounts					0	277,840
Offering costs					(1,162)	(9,247)
Loss on extinguishment of debt					0	(1,835)
Cash paid for shares withheld to cover taxes					(2,665)	0
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock					418	0
Distribution to parent					0	(42,300)
Distributions to noncontrolling interest					(4,881)	0
Net cash provided by (used in) financing activities					31,689	(73,439)
Net increase (decrease) in cash and cash equivalents					1,872	(14,303)
Cash and cash equivalents - beginning of period		$ 5,562		$ 20,431	5,562	20,431	20,431
Cash and cash equivalents - end of period	$ 7,434		$ 6,128		7,434	6,128	$ 5,562
Supplemental cash disclosures:
Cash paid for interest					106,463	173,006
Cash paid for taxes					10,333	5,946
Supplemental disclosure of non-cash investing activities:
(Increase) decrease in accrued capital expenditures					2,961	(6,498)
Supplemental disclosure of non-cash financing activities:
Dividends equivalent					687	0
Issuance of common shares in acquisition of CSI Compressco LP					188,167	0
Issuance of preferred shares and noncontrolling interest in acquisition of CSI Compressco LP					154,118	0
Non-cash debt novation					0	(689,829)
Non-cash loss on extinguishment of debt					0	(563)
Non-cash offering costs					$ 0	$ (792)

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Kodiak Gas Services, Inc. (the “Company” or “Kodiak”) is an operator of contract compression infrastructure and related services in the U.S. The Company operates compression units under fixed-revenue contracts with upstream and midstream customers. The Company formerly managed its business through two operating segments: Compression Operations and Other Services. After the acquisition of CSI Compressco LP (“CSI Compressco” and such acquisition, the “CSI Acquisition”) on April 1, 2024, the Company manages its business through the following two operating segments: Contract Services and Other Services and operates predominantly in the U.S., with international subsidiaries that have limited operations in Mexico, Argentina and Chile. Contract Services consists of operating Company-owned compression, customer-owned compression, and gas treating and cooling infrastructure, pursuant to fixed-revenue contracts, to enable the production, gathering and transportation of natural gas and oil. Other Services consists of station construction, maintenance and overhaul, freight and crane charges, part sales and other time and material-based offerings. Kodiak operates its business and the majority of the Company’s assets and liabilities under its subsidiary Kodiak Gas Services, LLC (“Kodiak Services”). Kodiak is the primary beneficiary of Kodiak Services, which is a variable interest entity, since the Company has the power to direct the activities that most significantly impact Kodiak Services’ economic performance and the Company has the right (and obligation) to receive benefits (and absorb losses) of Kodiak Services that could be potentially significant to the Company. See Note 20 (“Segments”) to the Company’s condensed consolidated financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Merger with CSI Compressco On April 1, 2024, the Company completed the acquisition of 100% of the issued and outstanding partnership interests of CSI Compressco pursuant to the terms of the Merger Agreement, dated December 19, 2023 (the “Merger Agreement”), for total consideration of $342.3 million, consisting of the issuance of the equity shares in the CSI Acquisition. CSI Compressco provided contract services related to the exploration and production of oil and natural gas, including natural gas compression services and treating services, and provided aftermarket servi ces and compressor package parts and components manufactured by third-party suppliers. Strategically, the CSI Acquisition is expected to afford us the opportunity to capture significant synergies associated with our product and service offerings, further penetrate new and existing markets, and achieve administrative efficiencies and other strategic benefits. Under the Merger Agreement, CSI Compressco unitholders received 0.086 shares of common stock, par value $0.01 per share, of Kodiak (“common stock”) for each CSI Compressco common unit owned, and certain CSI Compressco unitholders meeting specified requirements (the “Electing Unitholders”) elected to receive limited liability company units (“OpCo Units”) representing economic interests in Kodiak’s subsidiary, Kodiak Services (along with an equal number of shares of Kodiak’s non-economic voting preferred stock), for each CSI Compressco common unit they held. Each OpCo Unit will be redeemable at the option of the holder for (i) one share of common stock (along with cancellation of a corresponding share of preferred stock) or (ii) cash at Kodiak Services’ election, following a 180 days post-closing lock-up and subject to certain conditions. On or after April 1, 2029, Kodiak shall have the right to effect redemption of such OpCo Units. The OpCo Units represent and will be accounted for as noncontrolling interests in Kodiak Services. Each share of preferred stock entitles the holder to one vote per share, voting proportionally with holders of common stock. The preferred stock lacks economic benefits beyond its par value of $0.01 per share (with a maximum value of $50,000), as it does not participate in earnings or cash dividends of Kodiak. Rather, it solely represents a voting share. Pursuant to the Merger Agreement, the Company issued 6,785,712 shares of common stock and 5,562,273 shares of preferred stock (with an equal number of OpCo Units) with an estimated fair value of $342.3 million based on the Company’s stock price on April 1, 2024 of $27.72. Additionally, subsequent to the close of the CSI Acquisition, the Company used additional draws on the ABL Facility (see Note 10 for further description) of $651.8 million to repay, terminate and/or redeem all of CSI Compressco’s existing outstanding indebtedness, except for certain equipment financing obligations, and pay fees and expenses related to the 2029 Senior Notes offering (see Note 10) and the CSI Acquisition. Our preliminary allocation of the purchase price to the estimated fair value of the CSI Compressco net assets is as follows ( in thousands ): Fair value of consideration transferred $ 342,285 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 9,458 Receivables 48,890 Inventory 40,738 Prepaid expenses & other current assets 8,738 Intangible assets 47,502 Property, plant and equipment 813,783 Right of use assets 26,044 Deferred tax assets 17 Other non-current assets 3,110 Total assets acquired 998,280 Deferred tax liabilities 27,938 Long term debt 627,953 Other current liabilities 86,212 Other non-current liabilities 21,871 Total liabilities assumed 763,974 Total identifiable assets acquired less liabilities assumed $ 234,306 Goodwill acquired $ 107,979 The allocation of purchase price to CSI Compressco’s net assets and liabilities as of April 1, 2024, is preliminary and subject to the potential identification of additional assets and contingencies or revisions to the deferred income taxes or fair value calculations. As a result, the fair value may be subject to adjustments pending completion of final valuations and post-closing adjustments, and the final purchase price allocation could differ materially from the preliminary allocation above. Actual purchase price allocation amounts will be disclosed in subsequent filings. The purchase price was allocated to the assets acquired and liabilities assumed based on their respective fair values. The methodologies used, and key assumptions made, were based on a combination of the income approach, market approach, and cost approach. During the nine months ended September 30, 2024, we recognized measurement period adjustments of $10.1 million, primarily related to updated valuations of property, plant and equipment, intangible assets, and deferred tax liabilities. The measurement period adjustment increased goodwill acquired from $97.8 million to $108.0 million. The fair value of the assets acquired and liabilities assumed are categorized in the following levels: Level 1 - Cash and cash equivalents; based on observable inputs such as quoted prices in active markets at the measurement date for identical assets or liabilities. Level 2 - Receivables, inventory, right of use assets, prepaid expenses and other current assets, other non-current assets, long term debt and other current and non-current liabilities; based on inputs that are observable such as quoted prices in markets that are not active (e.g. quoted pricing on CSI Compressco’s debt), or inputs which are observable, for substantially the full term of the asset or liability. Level 3 - Intangible assets, property, plant and equipment; based on unobservable inputs for which there is little or no market data and which assumption are made about how market participants would price the assets or liabilities. The Company used a combination of the income, cost and market approaches based on various assumptions and inputs. The preliminary allocation of purchase price includes approximately $108.0 million allocated to nondeductible goodwill and is supported by the strategic benefits (discussed above) expected to be generated from the CSI Acquisition. The assessment of assigning goodwill to our respective segments is not complete as of the issuance date of our condensed consolidated financial statements. The acquired property, plant and equipment is stated at fair value, and depreciation on the acquired property, plant and equipment is computed using the straight-line method over the estimated remaining useful lives of each asset in line with the Company’s polices. The acquired intangible assets as of the CSI Acquisition date represent approximately $41.1 million for customer relationships, and $6.4 million for the trademarks/trade names that are stated at estimated fair value and are amortized on a straight-line basis over their estimated useful lives, ranging from 5 to 15 years. For the three and nine months ended September 30, 2024, our revenues include $87.9 million and $182.7 million, respectively, associated with the CSI Acquisition after the closing on April 1, 2024. It is impracticable to determine the earnings recorded in the condensed consolidated statements of operations for the three and nine month periods ended September 30, 2024 as we initiated the integration of a substantial portion of CSI Compressco into our ongoing operations during the current period. In addition, acquisition-related costs of approximately $2.6 million and $27.8 million were incurred during the three and nine months ended September 30, 2024, respectively, related to external legal fees, transaction consulting fees, and due diligence costs. These costs have been recognized in selling, general and administrative expenses in the condensed consolidated statements of operations. Unaudited Supplemental Pro Forma Financial Information The unaudited supplemental pro forma information presented below has been prepared to give effect to the CSI Acquisition as if the transaction had occurred on January 1, 2023. The unaudited supplemental pro forma information is presented for illustrative purposes only and is based on estimates and assumptions we deemed appropriate. The following unaudited supplemental pro forma information is not necessarily indicative of the historical results that would have been achieved if the acquisition had occurred in the past, and our operating results may have been different from those reflected in the unaudited supplemental pro forma information below. Therefore, the unaudited supplemental pro forma information should not be relied upon as an indication of the operating results that we would have achieved if the transaction had occurred on January 1, 2023 or the future results that we will achieve after the transactions. The unaudited supplemental pro forma results include certain adjustments, primarily due to increases in interest expense due to additional borrowings incurred to finance the acquisition and amortization of debt issuance costs, and acquisition related costs including transaction costs, such as legal, accounting, valuation and other professional services as well as integration costs such as severance. Three Months Ended September 30, Nine Months Ended September 30, 2024 (1) 2023 2024 2023 Revenue $ 324,647 $ 330,690 $ 946,902 $ 912,258 Earnings $ (6,211) $ 21,647 $ 35,599 $ 23,033 (1) No pro forma effect, as amounts included in the condensed consolidated statements of operations. Sale of Assets On September 12, 2024, the Company sold certain property, plant and equipment and other assets in the U.S. and our entity in Canada to a third-party buyer. The majority of the operations were included in the Contract Services segment through the date of sale. At the disposal date, total net assets sold were $18.0 million, consisting primarily of compression equipment, inventory, and other assets. Upon disposition, we incurred a loss of $7.0 million included in (gain) loss on sale of property, plant and equipment in our unaudited condensed consolidated statements of operations for the three and nine months ended September 30, 2024.

Basis of Presentation and Conso

Basis of Presentation and Consolidation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. These unaudited condensed consolidated financial statements include the accounts of Kodiak and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated upon consolidation. It is the Company’s opinion that all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The Company’s results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. For further information, refer to the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Certain prior period amounts have been reclassified to conform to the current period presentation. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which improves reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments in this update are effective for annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is to be applied on a retrospective basis. The adoption of this standard will not have a material impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 require the annual financial statements to include consistent categories, greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company’s annual reporting periods beginning after December 15, 2024, with early adoption permitted, and should be applied on a prospective basis, with a retrospective option. The Company is currently evaluating the impact of this standard on its disclosures.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following table disaggregates the Company’s revenue by type and timing of provision of services or transfer of goods (in thousands) : Three Months Ended September 30, 2024 2023 Services provided over time: Contract Services $ 284,313 $ 184,959 Other Services 16,417 39,096 Total services provided over time 300,730 224,055 Services provided or goods transferred at a point in time: Contract Services — 1,714 Other Services 23,917 5,214 Total services provided or goods transferred at a point in time 23,917 6,928 Total revenue $ 324,647 $ 230,983 Nine Months Ended September 30, 2024 2023 Services provided over time: Contract Services $ 752,282 $ 539,575 Other Services 61,684 62,852 Total services provided over time 813,966 602,427 Services provided or goods transferred at a point in time: Contract Services 1,680 6,414 Other Services 34,146 15,560 Total services provided or goods transferred at a point in time 35,826 21,974 Total revenue $ 849,792 $ 624,401 The Company derives its revenue from contracts with customers, which comprise the following revenue streams: Contract Services Contract Services consists of operating Company-owned compression, customer-owned compression and gas treating and cooling infrastructure for the Company’s customers, pursuant to fixed-revenue contracts, enabling the production, gathering and transportation of natural gas and oil. Contract Services for Kodiak-owned compressors, customer-owned compressors, as well as gas treating equipment, are generally satisfied over time, as services are rendered for selected customer locations on a monthly basis and based upon specific performance criteria set forth in the applicable contract. Terms are typically one If variable consideration exists, it is allocated to the distinct monthly service within the series to which such variable consideration relates. The Company has elected to apply the right to invoice practical expedient to recognize revenue for such variable consideration, as the invoice corresponds to the value transferred to the customer based on the Company’s performance completed to date. There are typically no material obligations for returns, refunds or warranties. The Company’s standard contracts do not usually include non-cash consideration. Other Services Other Services consists of a full range of services to support any ancillary needs of customers, including station construction, maintenance and overhaul, freight and crane charges, and other time and material-based offerings. For most of the Company’s construction contracts, the customer contracts with the Company to provide a service of integrating a significant set of tasks and components into a single contract. Hence, the entire contract is accounted for as one performance obligation. The Company recognizes revenue over time as the Company’s performance creates or enhances an asset that the customer, in turn, controls. For construction contracts, revenue is recognized using an input method. Measure of the progress towards satisfaction of the performance obligation is based on the actual amount of labor and material costs incurred. The amount of the transaction price recognized as revenue each reporting period is determined by multiplying the transaction price by the ratio of actual costs incurred to date to total estimated costs expected for the construction services. Payment terms and conditions vary by contract, but contract terms generally include a requirement of payment upon completion of a milestone. Judgment is involved in the estimation of the progress to completion. Any adjustments to the measure of the progress to completion is accounted for on a prospective basis. Changes to the scope of service are recognized as an adjustment to the transaction price in the period in which the change order is agreed upon and executed. Losses on construction contracts, if any, are recognized in the period when the estimated loss is determined. There have been no losses recognized in the three and nine months ended September 30, 2024 and 2023, respectively. Services provided based on time spent, parts and/or materials are generally short-term in nature and labor rates and parts pricing are agreed upon prior to commencing the service. The Company applies a gross margin percentage, which is fixed based on historical time and materials-based service, to actual costs incurred. Since revenue is recognized when time is incurred, this revenue is recognized at a point in time when the service is rendered. Service revenue earned primarily on freight and crane charges that are directly reimbursable by the Company’s customers is recognized at the point in time the service is provided, and control is transferred to the customer. At such time, the customer has the ability to direct the use of the benefits of such service after the performance obligation is satisfied. The amount of consideration the Company receives and the amount of revenue the Company recognizes is based upon the invoice amount. Contract Assets and Liabilities The Company recognizes a contract asset when the Company has the right to consideration in exchange for goods or services transferred to a customer. Contract assets are transferred to trade receivables when the Company has the right to bill. The Company had contract assets of $13.5 million and $17.4 million as of September 30, 2024, and December 31, 2023, respectively. There was a $3.6 million contract asset balance as of January 1, 2023. The Company records contract liabilities when cash payments are received or due in advance of performance. The Company’s contract liabilities were $70.2 million and $63.7 million as of September 30, 2024, and December 31, 2023. As of January 1, 2024, and January 1, 2023, the beginning balances for contract liabilities were $63.7 million and $57.1 million, all of which was recognized as revenue in the nine months ended September 30, 2024, and September 30, 2023, respectively. Performance Obligations As of September 30, 2024, the aggregate amount of transaction price allocated to unsatisfied performance obligations related to the Company’s revenue for the Contract Services segment is $1.4 billion. The Company expects to recognize these remaining performance obligations as follows (in thousands) : Remainder of 2025 2026 2027 2028 and Total Remaining performance obligations $ 241,230 $ 640,751 $ 358,243 $ 123,175 $ 27,326 $ 1,390,725 As of September 30, 2024, the aggregate amount of transaction price allocated to unsatisfied performance obligations related to the Company’s revenue for the Other Services segment is $20.7 million, of which $9.8 million is expected to be recognized by December 31, 2024.

Accounts Receivable, net

Accounts Receivable, net	9 Months Ended
	Sep. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable, net consist of the following ( in thousands ): As of September 30, As of December 31, Accounts receivable $ 293,026 $ 121,242 Less: allowance for credit losses 12,590 8,050 Accounts receivable, net $ 280,436 $ 113,192 The allowances for credit losses were $12.6 million and $8.0 million as of September 30, 2024, and December 31, 2023, respectively, which represents the Company’s best estimate of the amount of probable credit losses included within the Company’s existing accounts receivable balance. For the nine months ended September 30, 2024 the Company recorded a net increase in the allowance for credit losses of $4.5 million. The changes in the Company’s allowance for credit losses are as follows (in thousands) : Allowances for Credit Losses Balance at January 1, 2023 $ 949 Current-period provision for expected credit losses 7,101 Write-offs charged against allowance — Balance at December 31, 2023 $ 8,050 Current-period provision for expected credit losses 4,625 Write-offs charged against allowance (85) Balance at September 30, 2024 $ 12,590

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories consist of the following ( in thousands ): As of September 30, As of December 31, Non-serialized parts $ 97,529 $ 62,784 Serialized parts 20,556 13,454 Total inventories, net $ 118,085 $ 76,238

Property, Plant and Equipment,

Property, Plant and Equipment, net	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consist of the following ( in thousands ): As of September 30, As of December 31, Compression equipment $ 4,135,178 $ 3,166,214 Field equipment 92,190 19,286 Buildings and shipping containers 16,418 11,942 Technology hardware and software 14,828 11,161 Trailers and vehicles 14,342 9,885 Leasehold improvements 11,301 8,093 Furniture and fixtures 2,613 2,053 Land 1,748 743 Other 217 374 Total property, plant and equipment, gross 4,288,835 3,229,751 Less: accumulated depreciation and impairment (882,510) (693,660) Property, plant and equipment, net $ 3,406,325 $ 2,536,091 Depreciation expense was $69.0 million and $179.6 million for the three and nine months ended September 30, 2024, respectively, and is recorded within depreciation and amortization on the accompanying condensed consolidated statements of operations. Depreciation expense was $43.7 million and $129.3 million for the three and nine months ended September 30, 2023, respectively.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets, Net	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets, Net	Goodwill and Identifiable Intangible Assets, net The increase in goodwill from December 31, 2023 to September 30, 2024, is attributable to the CSI Acquisition. See Note 2 (“Acquisitions and Divestitures”) for more details. The change in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2024, is preliminary and subject to change. Actual allocation by segment will be disclosed in subsequent filings. Change in carrying amount of goodwill is shown below ( in thousands ): Goodwill Balance as of December 31, 2023 $ 305,553 Acquisition of CSI Compressco 97,837 Measurement period adjustment 10,142 Balance as of September 30, 2024 $ 413,532 The Company’s identifiable intangible assets consist of the following as of September 30, 2024, and December 31, 2023 ( in thousands ): As of September 30, 2024 Original Cost Accumulated Amortization Net Amount Remaining Weighted Remaining Weighted Average Amortization Period (years) for acquired intangibles Trade name $ 19,400 $ (4,308) $ 15,092 10.8 4.5 Customer relationships 191,100 (44,929) 146,171 12.9 14.7 Total identifiable intangible assets $ 210,500 $ (49,237) $ 161,263 As of December 31, 2023 Original Cost Accumulated Net Amount Remaining Weighted Trade name $ 13,000 $ (3,181) $ 9,819 15.1 Customer relationships 150,000 (36,931) 113,069 12.8 Total identifiable intangible assets $ 163,000 $ (40,112) $ 122,888 Amortization expense was $3.7 million and $9.1 million for the three and nine months ended September 30, 2024, and is recorded within depreciation and amortization on the condensed consolidated statements of operations. Amortization expense was $2.4 million and $7.1 million for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024, the following is a summary of future minimum amortization expense for identified intangible assets ( in thousands ): Amount Years ending December 31, Remainder of 2024 $ 3,430 2025 13,494 2026 13,494 2027 13,494 2028 13,494 Thereafter 103,857 Total $ 161,263

Long-Lived and Other Asset Impa

Long-Lived and Other Asset Impairment	9 Months Ended
	Sep. 30, 2024
Asset Impairment Charges [Abstract]
Long-Lived and Other Asset Impairment	Long-Lived and Other Asset Impairment Long-lived assets, including property, plant and equipment and other finite-lived identifiable intangible assets, are reviewed for impairment whenever events or changes in circumstances, including the removal of compressors from the active fleet, indicate that the carrying amount of an asset may not be recoverable. Such events may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in the Company’s business strategy, among others. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to estimated future undiscounted net cash flows expected to be generated by the asset. Impairment losses are recognized in the period in which the impairment occurs and represent the excess of the asset carrying value over its estimated future discounted net cash flows. For the three and nine months ended September 30, 2024, we determined that certain events occurred to a group of non-operating compression units associated with a certain customer in bankruptcy that indicated the carrying value of assets may not be recoverable. As a result, we recorded an impairment of compression equipment of $9.9 million for the three and nine months ended September 30, 2024. No impairment was recorded, and no triggering events were identified for the three and nine months ended September 30, 2023.

Debt and Credit Facilities

Debt and Credit Facilities	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt and Credit Facilities	Debt and Credit Facilities Debt consists of the following (in thousands) : As of September 30, 2024 As of December 31, 2023 ABL Facility $ 1,891,719 $ 1,830,346 2029 Senior Notes 750,000 — Total debt outstanding 2,641,719 1,830,346 Less: unamortized debt issuance cost (46,321) (38,886) Long-term debt, net of unamortized debt issuance cost 2,595,398 1,791,460 Other borrowings 7,652 — Total long-term debt and other borrowings $ 2,603,050 $ 1,791,460 ABL Facility On March 22, 2023, wholly owned subsidiaries of Kodiak entered into the Fourth Amended and Restated Credit Agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended or restated from time to time, the “ABL Credit Agreement” or “ABL Facility”), which mainly served to extend the maturity date from June 2024 to March 2028. The total commitments under the facility are $2.2 billion. As of September 30, 2024, there were $2.4 million in letters of credit outstanding under the ABL Facility. Pursuant to the ABL Credit Agreement, the Company must comply with certain restrictive covenants, including a minimum interest coverage ratio of 2.5x and a maximum Leverage Ratio (calculated based on the ratio of Consolidated Total Debt to Consolidated EBITDA, each as defined in the ABL Credit Agreement). The maximum Leverage Ratio is (i) 5.75 to 1.00 for the fiscal quarters ending June 30, 2024, September 30, 2024, December 31, 2024 and March 31, 2025 and (ii) 5.25 to 1.00 for each fiscal quarter thereafter. The ABL Credit Agreement also restricts the Company’s ability to: incur additional indebtedness and guarantee indebtedness; pay certain dividends or make other distributions or repurchase or redeem equity interests; prepay, redeem or repurchase certain debt; issue certain preferred units or similar equity securities; make loans and investments; sell, transfer or otherwise dispose of assets; incur liens; enter into transactions with affiliates; enter into agreements restricting the Company’s restricted subsidiaries’ ability to pay dividends; enter into certain swap agreements; amend certain organizational documents; enter into sale and leaseback transactions; and consolidate, merge or sell all or substantially all of the Company’s assets. The ABL Facility is a “revolving credit facility” that includes a lockbox arrangement whereby, under certain events, remittances from customers are forwarded to a bank account controlled by the administrative agent and are applied to reduce borrowings under the facility. One such event occurs if availability under the ABL Credit Agreement falls below a specified threshold (i.e., the greater of $200 million or 10% of the aggregate commitments at the time of measurement). As of September 30, 2024, and December 31, 2023, availability under the ABL Facility was in excess of the specified threshold, and, as such, the entire balance was classified as long-term in accordance with its maturity. Third Amendment to Fourth Amended and Restated Credit Agreement On January 22, 2024, Kodiak entered into the Third Amendment to the ABL Credit Agreement (the “Third Amendment”). The Third Amendment, among other things, amended certain provisions of the ABL Facility (i) to accommodate the consummation of the transactions contemplated by the Merger Agreement (see Note 2 - “Acquisitions and Divestitures”) and (ii) to account for the Company’s organizational structure after giving effect to the transactions contemplated by the Merger Agreement. Lender fees and costs totaling $2.9 million were incurred related to the Third Amendment and will be amortized over the life of the loan to interest expense. In addition, the Third Amendment amended the ABL Facility to (i) update the maximum secured leverage ratio to (x) 3.75 to 1.00 for the first four fiscal quarters after the Company issues any unsecured indebtedness and (y) 3.25 to 1.00 for each fiscal quarter thereafter, (ii) modify the triggers for commencing a “cash dominion” period (i.e., a period when the administrative agent applies proceeds in the deposit accounts to reduce borrowings under the ABL Credit Agreement), such that a “cash dominion” period will commence if availability under the ABL Credit Agreement is less than $125 million for more than five The weighted average interest rate as of September 30, 2024, and December 31, 2023, was 7.64% and 8.08%, respectively, excluding the effect of interest rate swaps. The Company pays an annualized commitment fee of 0.25% on the unused portion of its ABL Facility if borrowings are greater than 50% of total commitments and 0.50% on the unused portion of the ABL Facility if borrowings are less than 50% of total commitments . All obligations under the ABL Facility are collateralized by essentially all the assets of the Company. We were in compliance with all covenants as of September 30, 2024, and December 31, 2023. 2029 Senior Notes On February 2, 2024, Kodiak Services issued $750,000,000 aggregate principal amount of 7.25% senior notes due 2029 (the “2029 Senior Notes”), pursuant to an indenture, by and among the Company and certain other subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee. The Company’s 2029 Senior Notes are not subject to any mandatory redemption or sinking fund requirements. The 2029 Senior Notes are subject to redemption at a make-whole redemption price, inclusive of accrued and unpaid interest. This make-whole redemption price is determined as the higher of 100% of the principal amount of the notes or the present value of remaining principal and interest payments discounted semi-annually to the redemption date using the applicable treasury rate plus 0.50%. Before February 15, 2026, the Company has the option to redeem up to 40% of the aggregate principal amount of the 2029 Senior Notes issued under this indenture, limited to the net cash proceeds of one or more equity offerings. Following February 15, 2026, the Company retains the right to redeem all or a portion of the 2029 Senior Notes, with redemption prices expressed as percentages of the principal amount, along with accrued and unpaid interest. The optional redemption percentages for the 2029 Senior Notes are as follows: Percentage 2026 103.625% 2027 101.813% 2028 and thereafter 100.000% The indenture governing the Company’s 2029 Senior Notes contain covenants that, among other things, limit the Company’s ability to create liens securing certain indebtedness, enter into certain sale-leaseback transactions, or consolidate, merge or transfer certain assets. The covenants are subject to a number of important exceptions and qualifications. The Company was in compliance with these covenants at September 30, 2024. Fees and costs totaling $13.4 million were incurred related to the 2029 Senior Notes and will be amortized over the life of the loan to interest expense. The proceeds from the 2029 Senior Notes were used to repay a portion of the outstanding indebtedness under the ABL Facility and to pay related fees and expenses in connection with the 2029 Senior Notes offering. In connection with the close of the CSI Acquisition on April 1, 2024, the Company used proceeds from additional draws on the ABL Facility to repay, terminate and/or redeem all of CSI Compressco’s existing outstanding indebtedness, except for certain equipment financing obligations, and pay fees and expenses related to the notes offering and the CSI Acquisition. Term Loan A wholly owned subsidiary of Kodiak had a term loan (the “Term Loan”), pursuant to a credit agreement with unaffiliated unsecured lenders and Wells Fargo Bank, N.A., as administrative agent. On June 29, 2023, the Company terminated all interest rate swaps and collars attributable to the Term Loan, recognized a gain on derivatives and received cash of $25.8 million for the nine months ended September 30, 2023 (the “Term Loan Derivative Settlement”). On July 3, 2023, in connection with the IPO, the Company used the net proceeds from the IPO, together with the proceeds resulting from the Term Loan Derivative Settlement and borrowings under the ABL Facility, to repay $300 million of borrowings outstanding under the Term Loan. Additionally, a subsidiary of Kodiak entered into a Novation, Assignment and Assumption Agreement (“Novation Agreement”) with Frontier TopCo Partnership, L.P. (“Kodiak Holdings”), an affiliate of EQT AB and holder of record of Kodiak Gas Services, Inc. common stock, pursuant to which all of the Company’s remaining obligations under the Term Loan were assumed by Kodiak Holdings, and the Company’s obligations thereunder were terminated. The Company is no longer a borrower or guarantor and is not otherwise obligated with respect to the debt outstanding under the Term Loan. As part of the $300 million repayment of the Term Loan, unamortized debt issuance costs of $4.4 million and fees of $2.4 million were recorded to loss on extinguishment for the year ended December 31, 2023. The carrying value of the Term Loan novated under the Novation Agreement of $689.8 million (comprised of $700.0 million of principal balance less $10.2 million of unamortized debt issuance costs) was considered an equity transaction with the parent and recorded to additional paid-in capital in the consolidated statement of stockholder’s equity for the year ended December 31, 2023. As of September 30, 2024, the scheduled maturities, without consideration of potential mandatory prepayments, of the Company’s long-term debt were as follows ( in thousands ): Amount Years ended December 31, Remainder of 2024 $ — 2025 5,106 2026 2,546 2027 — 2028 1,891,719 Thereafter 750,000 Total $ 2,649,371 Debt Issuance Costs Debt issuance costs of $46.3 million, as of September 30, 2024, are being amortized over the respective terms of the ABL Facility and 2029 Senior Notes. As of December 31, 2023, debt issuance costs of $38.9 million were being amortized over the term of the ABL Facility. Amortization expense related to these costs of $3.1 million and $8.1 million for the three and nine months ended September 30, 2024, respectively, are included in interest expense in the accompanying condensed consolidated statements of operations. Amortization expense was $0.2 million and $11.3 million for the three and nine months ended September 30, 2023, respectively, are included in interest expense in the accompanying condensed consolidated statement of operations. Other Borrowings Upon the completion of the CSI Acquisition, the Company has finance agreements with a third party in the amount of $11.4 million to finance certain compression equipment. The notes are payable in monthly installments totaling $0.7 million for 36 months. As of September 30, 2024, amounts due under the finance agreements totaled $7.7 million. The current portion of this amount, $6.6 million, is classified in accrued liabilities and the long-term portion, $1.1 million, is classified in other long-term liabilities on the accompanying condensed consolidated balance sheet.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company has entered into interest rate swaps, exchanging variable interest rates for fixed interest rates. In prior periods, the Company entered into interest rate collars that fixed interest rates within a range through the simultaneous purchase of an interest rate cap and sale of an interest rate floor. The Company has not designated any derivative instruments as hedges for accounting purposes and does not enter into such instruments for speculative or trading purposes. The Company’s derivative instruments are recognized on the unaudited condensed consolidated balance sheets at fair value and classified as current or long-term depending on the maturity date of the derivative instrument and whether the net carrying value is in a net asset or net liability position. Realized and unrealized gains and losses associated with the derivative instruments are recognized in gain (loss) on derivatives within the unaudited condensed consolidated statements of operations. The table below summarizes information related to the notional amount and maturity dates for interest rate swaps at September 30, 2024: Notional Amount Effective date Maturities $175,000,000 12/14/2022 12/5/2024 $50,000,000 12/14/2022 12/5/2024 $200,000,000 6/16/2022 6/14/2025 $125,000,000 5/2/2024 9/2/2025 $125,000,000 12/6/2024 12/6/2025 $75,000,000 6/15/2022 6/14/2026 $125,000,000 6/22/2022 6/22/2026 $125,000,000 12/6/2024 12/6/2026 $100,000,000 5/2/2024 3/2/2027 $75,000,000 6/14/2022 5/18/2027 $100,000,000 6/16/2022 5/19/2027 $200,000,000 7/8/2022 5/19/2027 $125,000,000 12/6/2024 12/6/2027 The following tables summarize the effects of the Company’s derivative instruments in the condensed consolidated statements of operations ( in thousands ): Location Three Months Ended September 30, 2024 2023 Interest rate swaps Gain (loss) on derivatives $ (20,327) $ 15,141 Total gain (loss) on derivatives $ (20,327) $ 15,141 Location Nine Months Ended September 30, 2024 2023 Interest rate collars (Loss) on derivatives $ — $ (569) Interest rate swaps Gain on derivatives 6,227 42,649 Total gain on derivatives $ 6,227 $ 42,080

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, derivative instruments and long-term debt. The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are representative of their respective Level 1 fair values due to the short-term maturity of these instruments. The Company’s ABL Facility applies floating interest rates to outstanding amounts; therefore, the carrying amount of the ABL Facility approximates its Level 3 fair value. The fair value of the 2029 Senior Notes is determined using Level 2 inputs, relying on quoted prices in less active markets. The Company records derivative instruments at fair value using Level 2 inputs of the fair value hierarchy. The interest rate swaps are valued using a discounted cash flow analysis based on available market data on the expected cash flows of each derivative using observable inputs, including interest rate curves and credit spreads. See Note 11 (“Derivative Instruments”) for more details. The contingent consideration liability from a prior year acquisition is measured at fair value each reporting period, using Level 3 unobservable inputs (such as probability assessments of future cash flows), and changes in estimates of fair value are recognized in earnings. The following table summarizes the fair value of the Company’s interest rate swaps, contingent consideration and 2029 Senior Notes ( in thousands ): Carrying Value As of September 30, 2024 Level 1 Level 2 Level 3 Total Interest rate swap- current $ 4,110 $ — $ 4,110 $ — $ 4,110 Interest rate swap- non-current 5,121 — 5,121 — 5,121 Contingent consideration 3,071 — — 3,071 3,071 2029 Senior Notes (1) 750,000 — 777,788 — 777,788 Carrying Value As of December 31, 2023 Level 1 Level 2 Level 3 Total Interest rate swap- current $ 8,194 $ — $ 8,194 $ — $ 8,194 Interest rate swap- non-current 14,256 — 14,256 — 14,256 Contingent consideration 3,673 — — 3,673 3,673 (1) Carrying value and fair value exclude the deduction for the unamortized debt issuance costs, see Note 10 (“Debt and Credit Facilities”) for details.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Holders of the Company’s common stock are entitled to one vote for each share. As of September 30, 2024, and December 31, 2023, there were 84,509,612 and 77,400,000 shares of common stock issued, respectively. In the event of a liquidation, dissolution or winding up, holders of common stock are entitled to receive, ratably, the assets available for distribution to the stockholders after payment of all liabilities. On July 3, 2023, 16,000,000 shares of common stock were issued and sold as part of the closing of the Company’s Initial Public Offering (“IPO”), resulting in net proceeds of $230.8 million, after deducting expenses and underwriting discounts and commissions payable by the Company. On July 13, 2023, the underwriters exercised in full their option to purchase additional shares of common stock, pursuant to the underwriting agreement relating to the IPO, resulting in the issuance and sale of 2,400,000 shares of common stock. The Company received net proceeds of approximately $36.2 million, after deducting underwriting discounts and commissions payable. The net proceeds of each issuance and sale were used for repayment of existing indebtedness and general corporate purposes. After giving effect to these transactions, Kodiak had 77,400,000 shares of common stock issued and outstanding as of December 31, 2023. On April 1, 2024, 6,785,712 shares of common stock and 5,562,273 of preferred shares were issued in connection with the CSI Acquisition. Share Repurchases Pursuant to an agreement between the Company and Kodiak Holdings, on September 11, 2024, the Company repurchased 1,000,000 shares of common stock from Kodiak Holdings in a private transaction at a price of $25.00 per share for an aggregate purchase price of $25 million. The shares of common stock purchased in the Share Repurchase were recorded as treasury stock. Class B and C Profits Interests Prior to the IPO, Kodiak Holdings issued incentive awards to certain employees of Kodiak Services in the form of Class B incentive units (“Class B Units”). The Company records stock-based compensation expense associated with the Class B Units because of the employment relationship of the grantees with Kodiak Services. On March 16, 2019, 61,098.4 Class B Units were authorized under the Kodiak Holdings 2019 Class B Unit Incentive Plan for grants to certain employees and non-employee board members. These Class B Units are intended to constitute “profits interests” for federal income tax purposes, but they constitute a substantive class of equity under GAAP. As of September 30, 2024, and December 31, 2023, there were 60,406.9 authorized Class B Units, and 57,058.5 were outstanding, respectively. There were no Class B Units granted in the nine months ended September 30, 2024 or 2023. Twenty-five percent (25%) of the Class B Units are subject to time vesting (the “Time-Vesting Units”), and the remaining seventy-five percent (75%) of the Class B Units are subject to performance vesting (the “Performance-Vesting Units”). Time-Vesting Units vest in equal annual installments on each of the five anniversaries of the applicable vesting commencement dates, subject to the Class B Unit holder’s continuous service through each of the applicable vesting dates. Performance-Vesting Units vest based on the achievement of certain investor return metrics, subject to the Class B Unit holder’s continuous service through the applicable vesting dates. Holders of Class B Units are entitled to distributions on vested awards in accordance with the Kodiak Holdings distribution waterfall. Class B Units are not subject to any conversion rights other than an automatic conversion to Class C incentive units (“Class C Units”) in connection with certain terminations of employment. Each Class C Unit holder is eligible to receive distributions up to an amount equal to the fair market value of the corresponding converted Class B Unit on the date of conversion. As of September 30, 2024, no material conversions had occurred. There are no performance hurdles associated with the Time-Vesting Units. The fair value of each incentive award was estimated on its applicable grant date using an option pricing model. Equity compensation expense is recognized ratably over the vesting period of the awards. During the nine months ended September 30, 2024, and 2023, approximately $0.2 million and $1.4 million, respectively, in equity compensation expense was recognized in selling, general and administrative expenses. During the three months ended September 30, 2024, and 2023, equity compensation expense was approximately $21 thousand and $502 thousand, respectively. As of September 30, 2024, there were 276 unvested Time-Vesting Units, representing $0.1 million in unrecognized equity compensation expense. Preferred stock Holders of the Company’s preferred stock are entitled to one vote for each share, voting proportionally with holders of common stock. Preferred stock consists of 50,000,000 authorized shares as of September 30, 2024 and December 31, 2023, of which 5,562,273 and zero were issued and outstanding, respectively. The preferred stock lacks economic benefits beyond its par value of $0.01 per share (with a maximum value of $50,000), as it does not participate in earnings or cash dividends of Kodiak. Rather, it solely represents a voting share. Each preferred stock holds an equal number of OpCo Units, representing economic interests in Kodiak’s subsidiary, Kodiak Services. Each OpCo Unit will be redeemable at the option of the holder for (i) one share of common stock (along with cancellation of a corresponding share of preferred stock) or (ii) cash at Kodiak Services’ election, following a 180 days post-closing lock-up and subject to certain conditions. On or after April 1, 2029, Kodiak shall have the right to effect redemption of such OpCo Units (along with corresponding share of preferred stock). The OpCo Units represent and will be accounted for as noncontrolling interests in Kodiak Services. 2023 Omnibus Incentive Plan On June 20, 2023, Kodiak’s Board of Directors (the “Board”) authorized and adopted the Kodiak Gas Services, Inc. Omnibus Incentive Plan (the “Omnibus Plan”) for employees, consultants and directors. The Omnibus Plan enables Kodiak’s Board (or a committee authorized by Kodiak’s Board) to award incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents, other stock-based awards, cash awards and substitute awards to align the interests of service providers, including the Company’s named executive officers, with those of the Company’s stockholders. A total of 6,375,000 shares of common stock have been reserved for issuance pursuant to awards under the Omnibus Plan. As of September 30, 2024, 2,394,649 shares of common stock have been granted to certain employees, including Kodiak's named executive officers, pursuant to awards under the Omnibus Plan. Restricted Stock Units As of September 30, 2024, of the total shares of common stock equity awards granted under the Omnibus Plan, 1,821,007 shares were granted pursuant to awards of time-based restricted stock units (“RSUs”) that vest ratably over a three-year period, subject to continuous service through each vesting date. On May 1, 2024, an additional 33,114 RSUs were granted that vest ratably over a one-year period, subject to continuous service through the vesting date. On December 8, 2023, the Company provided employees who were eligible to receive cash payments of long-term incentive awards granted in January 2023 under the Company’s 2020 Long-Term Incentive Plan the opportunity to make an election to receive a grant of RSUs that vest ratably over a three-year period in lieu of cash payments, resulting in the grant of 138,430 RSUs. Performance Stock Units As of September 30, 2024, 573,642 of the total shares of common stock equity awards granted under the Omnibus Plan were granted pursuant to awards of performance stock units (“PSUs”) that cliff vest at the end of a three-year performance period, with the ultimate number of shares earned and issued ranging from 0 - 190% of the number of shares subject to the PSU award, subject to continuous service through the end of the performance period and other conditions precedent. The performance criteria for the PSUs are a combination of: (1) Discretionary Cash Flow (as defined below, and, which we sometimes refer to as “DCF”) (30% weight); (2) Consolidated Net Leverage Ratio (“CNLR”) (30% weight); (3) Absolute Total Shareholders' Return (“ATSR”) (30% weight); and (4) an ESG Scorecard (10% weight) (each as defined below), in each case, during the applicable performance period. DCF is calculated based on the three-year cumulative Adjusted EBITDA less net cash taxes, less net cash interest, less maintenance capital expenditures, all as reported in the financial statement reconciliations provided in the Company’s public filings, measured over the performance period. CNLR is calculated as of the last day of the fiscal quarter at the end of the performance period, as the ratio of (a) Total Indebtedness (as defined in the ABL Credit Agreement) minus Cash, in each case, as of such date to (b) LQA Adjusted EBITDA (as defined in the ABL Credit Agreement) for the fiscal quarter ending at the end of the performance period, multiplied by four. ATSR is determined on an annualized basis over the relevant performance period for the beginning and ending 20-day volume-weighted average price, as adjusted for dividends paid. • The vesting of the PSUs based on DCF, CNLR, and ATSR will each be (i) 200% if the Company achieves performance at maximum; (ii) 100% if the Company achieves performance at target; (iii) 50% if the Company achieves performance at threshold level; and (iv) 0% if the Company achieves performance below threshold; and • The vesting of the PSUs based on ESG Scorecard will be (i) 100% if the Company achieves ESG targets and (ii) 0% if the Company does not achieve ESG Scorecard. With respect to each PSU, each PSU holder is granted associated dividend equivalents rights. In the event that the Company declares and pays a regular cash dividend, on the record date for such dividend, the Company will accrue a dividend equivalent based on the number of PSUs expected to vest. CSI Compressco Long Term Incentive Plan In connection with the CSI Acquisition, we assumed the CSI Compressco LP Third Amended and Restated 2011 Long Term Incentive Plan (“2011 Plan”) and outstanding unvested RSU awards originally granted by CSI Compressco under 2011 Plan that were held by former CSI Compressco employees continuing their employment with Kodiak post-acquisition. These assumed awards were converted into approximately 127,355 RSU awards under the Omnibus Plan and will vest in accordance with their original terms, generally over 3 years. Awards cancelled or forfeited, and shares withheld to satisfy tax withholding obligations, become available for future issuance. The following table summarizes award activity under the Omnibus Plan for the nine months ended September 30, 2024 and September 30, 2023: RSUs PSUs Number of Weighted- Number of Weighted- Outstanding at December 31, 2023 1,079,082 $ 16.30 311,875 $ 16.99 Granted 641,014 24.32 261,767 28.88 Vested or exercised (316,641) 18.50 (6,285) 18.70 Forfeited or cancelled (189,575) 17.32 (14,231) 19.38 Outstanding at September 30, 2024 1,213,880 $ 19.80 553,126 $ 22.54 Restricted stock awards expected to vest 1,213,880 $ 19.80 553,126 $ 22.54 RSUs PSUs Number of Weighted- Number of Weighted- Outstanding at December 31, 2022 — $ — — $ — Granted 985,313 16.00 311,845 16.99 Vested or exercised — — — — Forfeited or cancelled (20,679) — — — Outstanding at September 30, 2023 964,634 $ 16.00 311,845 $ 16.99 Restricted stock awards expected to vest 964,634 $ 16.00 311,845 $ 16.99 As of September 30, 2024, the total future compensation cost related to non-vested equity awards was approximately $27.7 million, assuming the PSUs vest at 100%, pursuant to the terms of the applicable award. During the three and nine months ended September 30, 2024, approximately $3.9 million and $11.9 million in equity compensation expense, respectively, was recognized in selling, general and administrative expenses. During the three and nine months ended September 30, 2023, approximately $2.0 million in stock compensation expense was recognized in selling, general and administrative expenses. Dividends The following table summarizes the Company’s dividends declared and paid in each of the quarterly periods of 2024 and 2023: Dividends per Common Share Dividends Paid (in thousands) 2024 Q1 $ 0.38 $ 29,815 Q2 $ 0.38 $ 32,578 Q3 $ 0.41 $ 35,113 2023 Q4 $ 0.38 $ 29,793 On October 21, 2024, the Company’s Board declared a cash dividend of $0.41 per share for the quarterly period ended September 30, 2024, which is payable on November 8, 2024, to shareholders of record as of the close of business on November 1, 2024 (the “Common Stock Dividend”) and, in conjunction with the Common Stock Dividend, Kodiak Services declared a distribution on its units of $0.41 per unit payable on November 8, 2024 to all unitholders of record of Kodiak Services as of the close of business on November 1, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Accrued Capital Expenditures As of September 30, 2024, and December 31, 2023, the Company has accrued capital expenditures of $6.0 million and $30.5 million, respectively. These amounts were included in accounts payable or accrued liabilities on the consolidated condensed balance sheets. Amounts exclude accrued capital expenditures related to the sales tax contingency accrual. Purchase Commitments Purchase commitments primarily consist of future commitments to purchase new compression units that have been ordered but not yet received. As of September 30, 2024, these commitments amounted to $158.9 million, of which $147.6 million is expected to be settled within the next twelve months. Contingent Consideration The Company agreed to pay, as contingent consideration, up to $3.1 million of certain past due accounts receivable acquired in connection with a prior acquisition in 2019, if collected, to the seller in that transaction. The Company records contingent consideration at the acquisition and end of reporting periods at fair value in accrued liabilities. As of September 30, 2024, and December 31, 2023, none of the outstanding receivables had been collected. Sales Tax Contingency Between October 2019 and April 2024, the Company received notices from the Texas Comptroller’s office in regards to audits for periods ranging from December 2015 through December 2023. The audits pertain to whether the Company may owe sales tax on certain of its compression equipment and related parts that it had purchased during that time period. As of December 31, 2023, the Company had accrued a total amount of $28.8 million for this contingent liability. During the nine months ended September 30, 2024, based on current information, the Company accrued an additional $39.5 million, of which $15.0 million is related to fair value adjustments associated with purchase price allocation of the CSI Acquisition and $3.6 million is related to parts usage recorded to expense. As of September 30, 2024, the Company had a total of $69.0 million included as accrued liabilities on the condensed consolidated balance sheets. Legal Matters

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following ( in thousands ): As of September 30, 2024 As of December 31, 2023 Prepaid insurance $ 3,338 $ 2,353 Interest rate swap receivable 6,129 2,025 Prepaid vehicle allowance 1,224 1,130 Deferred project costs — 737 Prepaid rent 1,126 532 Prepaid taxes 4,445 — Other 3,539 3,577 Total prepaid expenses and other current assets $ 19,801 $ 10,353

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following ( in thousands ): As of September 30, 2024 As of December 31, 2023 Sales tax liability $ 69,822 $ 28,847 Accrued bonus 16,614 13,259 Accrued accounts payable 1,220 15,506 Accrued interest 43,781 8,313 Station project accrual 5,757 7,797 Accrued taxes 11,514 6,415 Accrued professional fees 746 6,015 Contingent consideration 3,071 3,673 Accrued payroll 7,389 3,321 Accrued insurance — 856 Lease liabilities - current portion 11,702 — Equipment financing - current portion 6,558 — Other 14,588 3,076 Total accrued liabilities $ 192,762 $ 97,078

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2024, the Company recorded income tax benefit of $2.2 million and income tax expense of $10.0 million, respectively. For the three and nine months ended September 30, 2023, the Company recorded income tax expense of $7.9 million and $9.8 million, respectively. The effective tax rate was approximately 26.0% and 24.6% for the three and nine months ended September 30, 2024, compared to 26.6% and 26.6% for the three and nine months ended September 30, 2023. The difference between the Company’s effective tax rates for the three and nine months ended September 30, 2024, and 2023 and the U.S. statutory tax rate of 21% was primarily due to state income taxes. In August 2022, the U.S. Inflation Reduction Act of 2022 and the CHIPS and Science Act of 2022 were signed into law. These acts include, among other provisions, a corporate alternative minimum tax of 15%, an excise tax on the repurchase of corporate stock, various climate and energy provisions and incentives for investment in semiconductor manufacturing. These provisions are not expected to have a material impact on the Company’s results of operations or financial position.

Defined Contribution Plan

Defined Contribution Plan	9 Months Ended
	Sep. 30, 2024
Defined Contribution Plan [Abstract]
Defined Contribution Plan	Defined Contribution Plan The Company maintains a defined contribution savings plan for its employees. The Company contributed $0.9 million and $2.9 million to the plan for the three and nine months ended September 30, 2024, respectively. The Company contributed $0.7 million and $2.3 million to the plan for the three and nine months ended September 30, 2023, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases We have operating leases for some of our office space, warehouse space, operating locations, and equipment. Our leases have remaining lease terms up to ten years. Some of our leases have options to extend for various periods, while some have termination options with prior notice of generally 30 days or six months. Our leases generally require us to pay all maintenance and insurance costs. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs are included in either cost of revenues or selling, general and administrative expense depending on the use of the underlying asset. The components of lease expense were as follows within the Company’s condensed consolidated statements of operations ( in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease expense: Operating lease expense (1)(2) $ 5,762 $ 2,428 $ 13,620 $ 5,431 Finance lease expense: Amortization of leased assets $ 605 $ — $ 805 $ — Interest on lease liabilities 68 — 118 — Total finance lease expense 673 — 923 — Total lease expense $ 6,435 $ 2,428 $ 14,543 $ 5,431 (1) Includes lease expense for leases not included on our condensed consolidated balance sheet based on our accounting policy election to exclude leases with a term of 12 months or less. Variable rent expense was not material. (2) Total lease expense includes $1.3 million and $2.4 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2024 and $2.0 million and $5.0 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2023. Operating lease supplemental cash flow information ( in thousands ): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 3,947 $ 4,147 Operating cash flows - finance leases $ 68 $ — Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,510 $ 26,758 Finance leases $ — $ — Supplemental balance sheet information ( in thousands ): September 30, 2024 December 31, 2023 Operating leases: Operating right-of-use asset $ 54,489 $ 33,716 Accrued liabilities $ 10,006 $ — Operating lease liabilities 50,491 34,468 Total operating lease liabilities $ 60,497 $ 34,468 Finance leases: Finance lease right-of-use asset $ 4,702 $ — Finance lease liabilities, current portion $ 1,695 $ — Finance lease liabilities, net of current portion 2,737 — Total finance lease liabilities $ 4,432 $ — Additional operating lease information: September 30, 2024 December 31, 2023 Weighted average remaining lease term: Operating leases 5.81 years 7.50 years Finance leases 2.94 years — Weighted average discount rate: Operating leases 9.80 % 9.54 % Finance leases 6.23 % — % Future minimum lease payments by year and in the aggregate, under non-cancelable operating leases with terms in excess of one year, consist of the following at September 30, 2024 ( in thousands): Operating Leases Finance Leases Remainder of 2024 $ 4,233 $ 361 2025 15,864 1,731 2026 15,062 1,460 2027 11,484 1,189 2028 8,078 145 Thereafter 27,705 — Total lease payments 82,426 4,886 Less imputed interest (21,929) (454) Total lease liabilities $ 60,497 $ 4,432 As of September 30, 2024, we had an additional operating lease that has not yet commenced for office space with lease obligations of $8.1 million. The operating lease will commence starting in 2029 with a lease term of approximately 7 years.
Leases	Leases We have operating leases for some of our office space, warehouse space, operating locations, and equipment. Our leases have remaining lease terms up to ten years. Some of our leases have options to extend for various periods, while some have termination options with prior notice of generally 30 days or six months. Our leases generally require us to pay all maintenance and insurance costs. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs are included in either cost of revenues or selling, general and administrative expense depending on the use of the underlying asset. The components of lease expense were as follows within the Company’s condensed consolidated statements of operations ( in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease expense: Operating lease expense (1)(2) $ 5,762 $ 2,428 $ 13,620 $ 5,431 Finance lease expense: Amortization of leased assets $ 605 $ — $ 805 $ — Interest on lease liabilities 68 — 118 — Total finance lease expense 673 — 923 — Total lease expense $ 6,435 $ 2,428 $ 14,543 $ 5,431 (1) Includes lease expense for leases not included on our condensed consolidated balance sheet based on our accounting policy election to exclude leases with a term of 12 months or less. Variable rent expense was not material. (2) Total lease expense includes $1.3 million and $2.4 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2024 and $2.0 million and $5.0 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2023. Operating lease supplemental cash flow information ( in thousands ): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 3,947 $ 4,147 Operating cash flows - finance leases $ 68 $ — Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,510 $ 26,758 Finance leases $ — $ — Supplemental balance sheet information ( in thousands ): September 30, 2024 December 31, 2023 Operating leases: Operating right-of-use asset $ 54,489 $ 33,716 Accrued liabilities $ 10,006 $ — Operating lease liabilities 50,491 34,468 Total operating lease liabilities $ 60,497 $ 34,468 Finance leases: Finance lease right-of-use asset $ 4,702 $ — Finance lease liabilities, current portion $ 1,695 $ — Finance lease liabilities, net of current portion 2,737 — Total finance lease liabilities $ 4,432 $ — Additional operating lease information: September 30, 2024 December 31, 2023 Weighted average remaining lease term: Operating leases 5.81 years 7.50 years Finance leases 2.94 years — Weighted average discount rate: Operating leases 9.80 % 9.54 % Finance leases 6.23 % — % Future minimum lease payments by year and in the aggregate, under non-cancelable operating leases with terms in excess of one year, consist of the following at September 30, 2024 ( in thousands): Operating Leases Finance Leases Remainder of 2024 $ 4,233 $ 361 2025 15,864 1,731 2026 15,062 1,460 2027 11,484 1,189 2028 8,078 145 Thereafter 27,705 — Total lease payments 82,426 4,886 Less imputed interest (21,929) (454) Total lease liabilities $ 60,497 $ 4,432 As of September 30, 2024, we had an additional operating lease that has not yet commenced for office space with lease obligations of $8.1 million. The operating lease will commence starting in 2029 with a lease term of approximately 7 years.

Segments

Segments	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segments	Segments The Company formerly managed its business through two operating segments: Compression Operations and Other Services. After the CSI Acquisition, the Company manages its business through two operating segments: Contract Services and Other Services. Contract Services consists of operating Company-owned compression, customer-owned compression, and gas treating and cooling infrastructure, pursuant to fixed-revenue contracts, to enable the production, gathering and transportation of natural gas and oil. Other Services consists of a full range of services to support ancillary needs of customers, including station construction, maintenance and overhaul, freight and crane charges, and other time and material-based offerings. The Company evaluates performance and allocates resources based on the adjusted gross margin of each segment, which consists of revenues directly attributable to the specific segment (less all costs of service directly attributable to the specific segment, which includes cost of operations and depreciation and amortization and excludes any impairment or gain (loss) on the depreciable assets). Depreciation and amortization for the Contract Services segment was $73.5 million and $46.1 million for the three months ended September 30, 2024, and 2023, respectively. Depreciation and amortization for the Contract Services segment was $189.9 million and $136.4 million for the nine months ended September 30, 2024, and 2023, respectively. Revenue includes only sales to external customers. The following table represents financial metrics by segment ( in thousands ): Contract Other Total Three Months Ended September 30, 2024 Revenue $ 284,313 $ 40,334 $ 324,647 Adjusted gross margin 114,244 7,660 121,904 Total assets 4,452,766 39,242 4,492,008 Capital expenditures 86,533 — 86,533 Three Months Ended September 30, 2023 Revenue $ 186,673 $ 44,310 $ 230,983 Adjusted gross margin 75,116 5,490 80,606 Total assets 3,213,764 30,476 3,244,240 Capital expenditures 51,539 — 51,539 Contract Other Total Nine Months Ended September 30, 2024 Revenue $ 753,962 $ 95,830 $ 849,792 Adjusted gross margin 302,271 17,536 319,807 Total assets 4,452,766 39,242 4,492,008 Capital expenditures 263,719 — 263,719 Nine Months Ended September 30, 2023 Revenue $ 545,989 $ 78,412 $ 624,401 Adjusted gross margin 216,318 12,505 228,823 Total assets 3,213,764 30,476 3,244,240 Capital expenditures 145,573 — 145,573 The following table reconciles adjusted gross margin to income before income taxes ( in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Adjusted gross margin $ 121,904 $ 80,606 $ 319,807 $ 228,823 Long-lived asset impairment (9,921) — (9,921) — Selling, general and administrative expenses (35,528) (19,648) (120,279) (46,171) Gain (loss) on sale of property, plant and equipment (10,376) — (9,203) 721 Interest expense, net (53,991) (39,710) (145,864) (182,030) Loss on extinguishment of debt — (6,757) — (6,757) Gain (loss) on derivatives (20,327) 15,141 6,227 42,080 Other income (expense) (156) 38 (6) 39 Income (loss) before income taxes $ (8,395) $ 29,670 $ 40,761 $ 36,705

Earnings Per Share of Common St

Earnings Per Share of Common Stock	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share of Common Stock	Earnings Per Share of Common Stock Basic earnings per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share of common stock is computed by using the weighted average shares of common stock outstanding, including the dilutive effect of restricted shares based on an average share price during the period. For the purpose of calculating basic and diluted earnings per share, net income (loss) attributed to noncontrolling interest and the corresponding preferred shares outstanding are excluded from the calculations. For the three months ended September 30, 2024, 5.6 million of OpCo Units held by noncontrolling interest and 1.1 million unvested RSUs and PSUs were not included in the calculation of the potential dilutive common shares, respectively, because to do so would be anti-dilutive. For the nine months ended September 30, 2024, 42 thousand unvested PSUs were not included in the calculation of the potential dilutive common shares, respectively, because to do so would be anti-dilutive. For the three and nine months ended September 30, 2023, there were no anti-dilutive shares. The computations of basic and diluted earnings per share for the three and nine months ended September 30, 2024, and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Net income (loss) attributable to common shareholders $ (5,648) $ 21,766 $ 30,812 $ 26,940 Less: expense attributable to non-forfeitable RSUs 451 — 1,350 — Net income (loss) used in basic and diluted earnings per share $ (6,099) $ 21,766 $ 29,462 $ 26,940 Basic weighted average shares of common stock 84,292,083 76,731,868 81,774,211 64,954,244 Effect of dilutive securities (1) — 167,615 6,571,772 167,615 Diluted weighted average shares of common stock 84,292,083 76,899,483 88,345,983 65,121,859 Basic earnings (loss) per share of common stock $ (0.07) $ 0.28 $ 0.36 $ 0.41 Diluted earnings (loss) per share of common stock $ (0.07) $ 0.28 $ 0.33 $ 0.41 (1) The effect of dilutive securities includes zero and 1,009,500 of RSUs and PSUs for the three and nine months ended September 30, 2024, respectively. Additionally, it includes zero and 5,562,273 of OpCo Units held by noncontrolling interest for the three and nine months ended September 30, 2024.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During March 2022, the Company entered into a master services agreement with IFS North America, Inc., a related party controlled by EQT AB, for a system license subscription and accompanying cloud hosting service to facilitate the implementation of the Company’s enterprise resource planning system. The master services agreement included an initial purchase commitment of approximately $5.0 million over a five-year term. Upon closing of the CSI Acquisition, the Company terminated the contract in May 2024. As of September 30, 2024, total purchases under this agreement since inception were approximately $4.0 million, with no cost occurring during the three months ended September 30, 2024 and 2023. Total cost during the nine months ended September 30, 2024 and 2023 were approximately $2.0 million and $1.0 million, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (5,648)	$ 21,766	$ 30,812	$ 26,940

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Con_2

Basis of Presentation and Consolidation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information.
Consolidation	These unaudited condensed consolidated financial statements include the accounts of Kodiak and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated upon consolidation.
Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which improves reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments in this update are effective for annual periods beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is to be applied on a retrospective basis. The adoption of this standard will not have a material impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 require the annual financial statements to include consistent categories, greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company’s annual reporting periods beginning after December 15, 2024, with early adoption permitted, and should be applied on a prospective basis, with a retrospective option. The Company is currently evaluating the impact of this standard on its disclosures.
Revenue Recognition	There are typically no material obligations for returns, refunds or warranties. The Company’s standard contracts do not usually include non-cash consideration. For most of the Company’s construction contracts, the customer contracts with the Company to provide a service of integrating a significant set of tasks and components into a single contract. Hence, the entire contract is accounted for as one performance obligation. The Company recognizes revenue over time as the Company’s performance creates or enhances an asset that the customer, in turn, controls. For construction contracts, revenue is recognized using an input method. Measure of the progress towards satisfaction of the performance obligation is based on the actual amount of labor and material costs incurred. The amount of the transaction price recognized as revenue each reporting period is determined by multiplying the transaction price by the ratio of actual costs incurred to date to total estimated costs expected for the construction services. Payment terms and conditions vary by contract, but contract terms generally include a requirement of payment upon completion of a milestone. Judgment is involved in the estimation of the progress to completion. Any adjustments to the measure of the progress to completion is accounted for on a prospective basis. Changes to the scope of service are recognized as an adjustment to the transaction price in the period in which the change order is agreed upon and executed. Losses on construction contracts, if any, are recognized in the period when the estimated loss is determined. There have been no losses recognized in the three and nine months ended September 30, 2024 and 2023, respectively. Services provided based on time spent, parts and/or materials are generally short-term in nature and labor rates and parts pricing are agreed upon prior to commencing the service. The Company applies a gross margin percentage, which is fixed based on historical time and materials-based service, to actual costs incurred. Since revenue is recognized when time is incurred, this revenue is recognized at a point in time when the service is rendered. Service revenue earned primarily on freight and crane charges that are directly reimbursable by the Company’s customers is recognized at the point in time the service is provided, and control is transferred to the customer. At such time, the customer has the ability to direct the use of the benefits of such service after the performance obligation is satisfied. The amount of consideration the Company receives and the amount of revenue the Company recognizes is based upon the invoice amount. The Company recognizes a contract asset when the Company has the right to consideration in exchange for goods or services transferred to a customer. Contract assets are transferred to trade receivables when the Company has the right to
Long-Lived and Other Asset Impairment	Long-lived assets, including property, plant and equipment and other finite-lived identifiable intangible assets, are reviewed for impairment whenever events or changes in circumstances, including the removal of compressors from the active fleet, indicate that the carrying amount of an asset may not be recoverable. Such events may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in the Company’s business strategy, among others. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to estimated future undiscounted net cash flows expected to be generated by the asset. Impairment losses are recognized in the period in which the impairment occurs and represent the excess of the asset carrying value over its estimated future discounted net cash flows.
Derivative Instruments	The Company has not designated any derivative instruments as hedges for accounting purposes and does not enter into such instruments for speculative or trading purposes. The Company’s derivative instruments are recognized on the unaudited condensed consolidated balance sheets at fair value and classified as current or long-term depending on the maturity date of the derivative instrument and whether the net carrying value is in a net asset or net liability position. Realized and unrealized gains and losses associated with the derivative instruments are recognized in gain (loss) on derivatives within the unaudited condensed consolidated statements of operations.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Our preliminary allocation of the purchase price to the estimated fair value of the CSI Compressco net assets is as follows ( in thousands ): Fair value of consideration transferred $ 342,285 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 9,458 Receivables 48,890 Inventory 40,738 Prepaid expenses & other current assets 8,738 Intangible assets 47,502 Property, plant and equipment 813,783 Right of use assets 26,044 Deferred tax assets 17 Other non-current assets 3,110 Total assets acquired 998,280 Deferred tax liabilities 27,938 Long term debt 627,953 Other current liabilities 86,212 Other non-current liabilities 21,871 Total liabilities assumed 763,974 Total identifiable assets acquired less liabilities assumed $ 234,306 Goodwill acquired $ 107,979
Schedule of Pro Forma Revenue Information	The unaudited supplemental pro forma information presented below has been prepared to give effect to the CSI Acquisition as if the transaction had occurred on January 1, 2023. The unaudited supplemental pro forma information is presented for illustrative purposes only and is based on estimates and assumptions we deemed appropriate. The following unaudited supplemental pro forma information is not necessarily indicative of the historical results that would have been achieved if the acquisition had occurred in the past, and our operating results may have been different from those reflected in the unaudited supplemental pro forma information below. Therefore, the unaudited supplemental pro forma information should not be relied upon as an indication of the operating results that we would have achieved if the transaction had occurred on January 1, 2023 or the future results that we will achieve after the transactions. The unaudited supplemental pro forma results include certain adjustments, primarily due to increases in interest expense due to additional borrowings incurred to finance the acquisition and amortization of debt issuance costs, and acquisition related costs including transaction costs, such as legal, accounting, valuation and other professional services as well as integration costs such as severance. Three Months Ended September 30, Nine Months Ended September 30, 2024 (1) 2023 2024 2023 Revenue $ 324,647 $ 330,690 $ 946,902 $ 912,258 Earnings $ (6,211) $ 21,647 $ 35,599 $ 23,033 (1) No pro forma effect, as amounts included in the condensed consolidated statements of operations.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates the Company’s revenue by type and timing of provision of services or transfer of goods (in thousands) : Three Months Ended September 30, 2024 2023 Services provided over time: Contract Services $ 284,313 $ 184,959 Other Services 16,417 39,096 Total services provided over time 300,730 224,055 Services provided or goods transferred at a point in time: Contract Services — 1,714 Other Services 23,917 5,214 Total services provided or goods transferred at a point in time 23,917 6,928 Total revenue $ 324,647 $ 230,983 Nine Months Ended September 30, 2024 2023 Services provided over time: Contract Services $ 752,282 $ 539,575 Other Services 61,684 62,852 Total services provided over time 813,966 602,427 Services provided or goods transferred at a point in time: Contract Services 1,680 6,414 Other Services 34,146 15,560 Total services provided or goods transferred at a point in time 35,826 21,974 Total revenue $ 849,792 $ 624,401
Schedule of Revenue Remaining Performance Obligations	The Company expects to recognize these remaining performance obligations as follows (in thousands) : Remainder of 2025 2026 2027 2028 and Total Remaining performance obligations $ 241,230 $ 640,751 $ 358,243 $ 123,175 $ 27,326 $ 1,390,725

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	9 Months Ended
	Sep. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule of Accounts Receivable, net	Accounts receivable, net consist of the following ( in thousands ): As of September 30, As of December 31, Accounts receivable $ 293,026 $ 121,242 Less: allowance for credit losses 12,590 8,050 Accounts receivable, net $ 280,436 $ 113,192 The changes in the Company’s allowance for credit losses are as follows (in thousands) : Allowances for Credit Losses Balance at January 1, 2023 $ 949 Current-period provision for expected credit losses 7,101 Write-offs charged against allowance — Balance at December 31, 2023 $ 8,050 Current-period provision for expected credit losses 4,625 Write-offs charged against allowance (85) Balance at September 30, 2024 $ 12,590

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following ( in thousands ): As of September 30, As of December 31, Non-serialized parts $ 97,529 $ 62,784 Serialized parts 20,556 13,454 Total inventories, net $ 118,085 $ 76,238

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net consist of the following ( in thousands ): As of September 30, As of December 31, Compression equipment $ 4,135,178 $ 3,166,214 Field equipment 92,190 19,286 Buildings and shipping containers 16,418 11,942 Technology hardware and software 14,828 11,161 Trailers and vehicles 14,342 9,885 Leasehold improvements 11,301 8,093 Furniture and fixtures 2,613 2,053 Land 1,748 743 Other 217 374 Total property, plant and equipment, gross 4,288,835 3,229,751 Less: accumulated depreciation and impairment (882,510) (693,660) Property, plant and equipment, net $ 3,406,325 $ 2,536,091

Goodwill and Identifiable Int_2

Goodwill and Identifiable Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of Goodwill by Reportable Segment	Change in carrying amount of goodwill is shown below ( in thousands ): Goodwill Balance as of December 31, 2023 $ 305,553 Acquisition of CSI Compressco 97,837 Measurement period adjustment 10,142 Balance as of September 30, 2024 $ 413,532
Schedule of the Company's Identifiable Intangible Assets	The Company’s identifiable intangible assets consist of the following as of September 30, 2024, and December 31, 2023 ( in thousands ): As of September 30, 2024 Original Cost Accumulated Amortization Net Amount Remaining Weighted Remaining Weighted Average Amortization Period (years) for acquired intangibles Trade name $ 19,400 $ (4,308) $ 15,092 10.8 4.5 Customer relationships 191,100 (44,929) 146,171 12.9 14.7 Total identifiable intangible assets $ 210,500 $ (49,237) $ 161,263 As of December 31, 2023 Original Cost Accumulated Net Amount Remaining Weighted Trade name $ 13,000 $ (3,181) $ 9,819 15.1 Customer relationships 150,000 (36,931) 113,069 12.8 Total identifiable intangible assets $ 163,000 $ (40,112) $ 122,888
Schedule of Future Minimum Amortization Expense for Identified Intangible Assets	As of September 30, 2024, the following is a summary of future minimum amortization expense for identified intangible assets ( in thousands ): Amount Years ending December 31, Remainder of 2024 $ 3,430 2025 13,494 2026 13,494 2027 13,494 2028 13,494 Thereafter 103,857 Total $ 161,263

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consists of the following (in thousands) : As of September 30, 2024 As of December 31, 2023 ABL Facility $ 1,891,719 $ 1,830,346 2029 Senior Notes 750,000 — Total debt outstanding 2,641,719 1,830,346 Less: unamortized debt issuance cost (46,321) (38,886) Long-term debt, net of unamortized debt issuance cost 2,595,398 1,791,460 Other borrowings 7,652 — Total long-term debt and other borrowings $ 2,603,050 $ 1,791,460
Schedule of Debt Instrument Redemption	The optional redemption percentages for the 2029 Senior Notes are as follows: Percentage 2026 103.625% 2027 101.813% 2028 and thereafter 100.000%
Schedule of Maturities of Long-term Debt	As of September 30, 2024, the scheduled maturities, without consideration of potential mandatory prepayments, of the Company’s long-term debt were as follows ( in thousands ): Amount Years ended December 31, Remainder of 2024 $ — 2025 5,106 2026 2,546 2027 — 2028 1,891,719 Thereafter 750,000 Total $ 2,649,371

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Information Related to Notional Amount and Maturities Dates for Interest Rate Swaps	The table below summarizes information related to the notional amount and maturity dates for interest rate swaps at September 30, 2024: Notional Amount Effective date Maturities $175,000,000 12/14/2022 12/5/2024 $50,000,000 12/14/2022 12/5/2024 $200,000,000 6/16/2022 6/14/2025 $125,000,000 5/2/2024 9/2/2025 $125,000,000 12/6/2024 12/6/2025 $75,000,000 6/15/2022 6/14/2026 $125,000,000 6/22/2022 6/22/2026 $125,000,000 12/6/2024 12/6/2026 $100,000,000 5/2/2024 3/2/2027 $75,000,000 6/14/2022 5/18/2027 $100,000,000 6/16/2022 5/19/2027 $200,000,000 7/8/2022 5/19/2027 $125,000,000 12/6/2024 12/6/2027
Schedule of Effects of Company's Derivative Instruments	The following tables summarize the effects of the Company’s derivative instruments in the condensed consolidated statements of operations ( in thousands ): Location Three Months Ended September 30, 2024 2023 Interest rate swaps Gain (loss) on derivatives $ (20,327) $ 15,141 Total gain (loss) on derivatives $ (20,327) $ 15,141 Location Nine Months Ended September 30, 2024 2023 Interest rate collars (Loss) on derivatives $ — $ (569) Interest rate swaps Gain on derivatives 6,227 42,649 Total gain on derivatives $ 6,227 $ 42,080

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Liabilities	The following table summarizes the fair value of the Company’s interest rate swaps, contingent consideration and 2029 Senior Notes ( in thousands ): Carrying Value As of September 30, 2024 Level 1 Level 2 Level 3 Total Interest rate swap- current $ 4,110 $ — $ 4,110 $ — $ 4,110 Interest rate swap- non-current 5,121 — 5,121 — 5,121 Contingent consideration 3,071 — — 3,071 3,071 2029 Senior Notes (1) 750,000 — 777,788 — 777,788 Carrying Value As of December 31, 2023 Level 1 Level 2 Level 3 Total Interest rate swap- current $ 8,194 $ — $ 8,194 $ — $ 8,194 Interest rate swap- non-current 14,256 — 14,256 — 14,256 Contingent consideration 3,673 — — 3,673 3,673 (1) Carrying value and fair value exclude the deduction for the unamortized debt issuance costs, see Note 10 (“Debt and Credit Facilities”) for details.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Award Activity Under Omnibus Plan	The following table summarizes award activity under the Omnibus Plan for the nine months ended September 30, 2024 and September 30, 2023: RSUs PSUs Number of Weighted- Number of Weighted- Outstanding at December 31, 2023 1,079,082 $ 16.30 311,875 $ 16.99 Granted 641,014 24.32 261,767 28.88 Vested or exercised (316,641) 18.50 (6,285) 18.70 Forfeited or cancelled (189,575) 17.32 (14,231) 19.38 Outstanding at September 30, 2024 1,213,880 $ 19.80 553,126 $ 22.54 Restricted stock awards expected to vest 1,213,880 $ 19.80 553,126 $ 22.54 RSUs PSUs Number of Weighted- Number of Weighted- Outstanding at December 31, 2022 — $ — — $ — Granted 985,313 16.00 311,845 16.99 Vested or exercised — — — — Forfeited or cancelled (20,679) — — — Outstanding at September 30, 2023 964,634 $ 16.00 311,845 $ 16.99 Restricted stock awards expected to vest 964,634 $ 16.00 311,845 $ 16.99
Schedule of Dividends	The following table summarizes the Company’s dividends declared and paid in each of the quarterly periods of 2024 and 2023: Dividends per Common Share Dividends Paid (in thousands) 2024 Q1 $ 0.38 $ 29,815 Q2 $ 0.38 $ 32,578 Q3 $ 0.41 $ 35,113 2023 Q4 $ 0.38 $ 29,793

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following ( in thousands ): As of September 30, 2024 As of December 31, 2023 Prepaid insurance $ 3,338 $ 2,353 Interest rate swap receivable 6,129 2,025 Prepaid vehicle allowance 1,224 1,130 Deferred project costs — 737 Prepaid rent 1,126 532 Prepaid taxes 4,445 — Other 3,539 3,577 Total prepaid expenses and other current assets $ 19,801 $ 10,353

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following ( in thousands ): As of September 30, 2024 As of December 31, 2023 Sales tax liability $ 69,822 $ 28,847 Accrued bonus 16,614 13,259 Accrued accounts payable 1,220 15,506 Accrued interest 43,781 8,313 Station project accrual 5,757 7,797 Accrued taxes 11,514 6,415 Accrued professional fees 746 6,015 Contingent consideration 3,071 3,673 Accrued payroll 7,389 3,321 Accrued insurance — 856 Lease liabilities - current portion 11,702 — Equipment financing - current portion 6,558 — Other 14,588 3,076 Total accrued liabilities $ 192,762 $ 97,078

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense and Operating Lease Supplemental Cash Flow Information	The components of lease expense were as follows within the Company’s condensed consolidated statements of operations ( in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease expense: Operating lease expense (1)(2) $ 5,762 $ 2,428 $ 13,620 $ 5,431 Finance lease expense: Amortization of leased assets $ 605 $ — $ 805 $ — Interest on lease liabilities 68 — 118 — Total finance lease expense 673 — 923 — Total lease expense $ 6,435 $ 2,428 $ 14,543 $ 5,431 (1) Includes lease expense for leases not included on our condensed consolidated balance sheet based on our accounting policy election to exclude leases with a term of 12 months or less. Variable rent expense was not material. (2) Total lease expense includes $1.3 million and $2.4 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2024 and $2.0 million and $5.0 million, respectively, of short-term lease cost for the three and nine months ended September 30, 2023. Operating lease supplemental cash flow information ( in thousands ): Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 3,947 $ 4,147 Operating cash flows - finance leases $ 68 $ — Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,510 $ 26,758 Finance leases $ — $ —
Schedule of Supplemental Balance Sheet and Additional Operating Lease Information	Supplemental balance sheet information ( in thousands ): September 30, 2024 December 31, 2023 Operating leases: Operating right-of-use asset $ 54,489 $ 33,716 Accrued liabilities $ 10,006 $ — Operating lease liabilities 50,491 34,468 Total operating lease liabilities $ 60,497 $ 34,468 Finance leases: Finance lease right-of-use asset $ 4,702 $ — Finance lease liabilities, current portion $ 1,695 $ — Finance lease liabilities, net of current portion 2,737 — Total finance lease liabilities $ 4,432 $ — Additional operating lease information: September 30, 2024 December 31, 2023 Weighted average remaining lease term: Operating leases 5.81 years 7.50 years Finance leases 2.94 years — Weighted average discount rate: Operating leases 9.80 % 9.54 % Finance leases 6.23 % — %
Schedule of Future Minimum Lease Payments, Operating Lease	Operating Leases Finance Leases Remainder of 2024 $ 4,233 $ 361 2025 15,864 1,731 2026 15,062 1,460 2027 11,484 1,189 2028 8,078 145 Thereafter 27,705 — Total lease payments 82,426 4,886 Less imputed interest (21,929) (454) Total lease liabilities $ 60,497 $ 4,432
Schedule of Future Minimum Lease Payments, Finance Lease	Operating Leases Finance Leases Remainder of 2024 $ 4,233 $ 361 2025 15,864 1,731 2026 15,062 1,460 2027 11,484 1,189 2028 8,078 145 Thereafter 27,705 — Total lease payments 82,426 4,886 Less imputed interest (21,929) (454) Total lease liabilities $ 60,497 $ 4,432

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial Metrics by Segment	The following table represents financial metrics by segment ( in thousands ): Contract Other Total Three Months Ended September 30, 2024 Revenue $ 284,313 $ 40,334 $ 324,647 Adjusted gross margin 114,244 7,660 121,904 Total assets 4,452,766 39,242 4,492,008 Capital expenditures 86,533 — 86,533 Three Months Ended September 30, 2023 Revenue $ 186,673 $ 44,310 $ 230,983 Adjusted gross margin 75,116 5,490 80,606 Total assets 3,213,764 30,476 3,244,240 Capital expenditures 51,539 — 51,539 Contract Other Total Nine Months Ended September 30, 2024 Revenue $ 753,962 $ 95,830 $ 849,792 Adjusted gross margin 302,271 17,536 319,807 Total assets 4,452,766 39,242 4,492,008 Capital expenditures 263,719 — 263,719 Nine Months Ended September 30, 2023 Revenue $ 545,989 $ 78,412 $ 624,401 Adjusted gross margin 216,318 12,505 228,823 Total assets 3,213,764 30,476 3,244,240 Capital expenditures 145,573 — 145,573
Schedule of Total Gross Margin to Income Before Income Taxes	The following table reconciles adjusted gross margin to income before income taxes ( in thousands ): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Adjusted gross margin $ 121,904 $ 80,606 $ 319,807 $ 228,823 Long-lived asset impairment (9,921) — (9,921) — Selling, general and administrative expenses (35,528) (19,648) (120,279) (46,171) Gain (loss) on sale of property, plant and equipment (10,376) — (9,203) 721 Interest expense, net (53,991) (39,710) (145,864) (182,030) Loss on extinguishment of debt — (6,757) — (6,757) Gain (loss) on derivatives (20,327) 15,141 6,227 42,080 Other income (expense) (156) 38 (6) 39 Income (loss) before income taxes $ (8,395) $ 29,670 $ 40,761 $ 36,705

Earnings Per Share of Common _2

Earnings Per Share of Common Stock (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share	The computations of basic and diluted earnings per share for the three and nine months ended September 30, 2024, and 2023 are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Net income (loss) attributable to common shareholders $ (5,648) $ 21,766 $ 30,812 $ 26,940 Less: expense attributable to non-forfeitable RSUs 451 — 1,350 — Net income (loss) used in basic and diluted earnings per share $ (6,099) $ 21,766 $ 29,462 $ 26,940 Basic weighted average shares of common stock 84,292,083 76,731,868 81,774,211 64,954,244 Effect of dilutive securities (1) — 167,615 6,571,772 167,615 Diluted weighted average shares of common stock 84,292,083 76,899,483 88,345,983 65,121,859 Basic earnings (loss) per share of common stock $ (0.07) $ 0.28 $ 0.36 $ 0.41 Diluted earnings (loss) per share of common stock $ (0.07) $ 0.28 $ 0.33 $ 0.41 (1) The effect of dilutive securities includes zero and 1,009,500 of RSUs and PSUs for the three and nine months ended September 30, 2024, respectively. Additionally, it includes zero and 5,562,273 of OpCo Units held by noncontrolling interest for the three and nine months ended September 30, 2024.

Organization and Description _2

Organization and Description of Business (Details)	9 Months Ended
	Sep. 30, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ / shares in Units, $ in Thousands			3 Months Ended	9 Months Ended
	Sep. 12, 2024 USD ($)	Apr. 01, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) vote $ / shares	Sep. 30, 2024 USD ($) vote $ / shares	Dec. 31, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Common stock, par value per share (in dollars per share) | $ / shares			$ 0.01	$ 0.01	$ 0.01
Preferred stock, conversion ratio			1	1
Number of votes per preferred share | vote			1	1
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock value		$ 50
Measurement period adjustment				$ 10,142
Goodwill			$ 413,532	$ 413,532	$ 305,553
Discontinued operation, assets	$ 18,000
Loss on disposition of assets	$ 7,000
Customer relationships
Business Acquisition [Line Items]
Estimated useful lives				14 years 8 months 12 days
CSI Compressco, LP
Business Acquisition [Line Items]
Business acquisition percentage		100%
Fair value of consideration transferred		$ 342,300
Consideration transferred (in shares) | shares		0.086
Post - closing period		180 days
Stock price (in dollars per share) | $ / shares		$ 27.72
Repayment of debt		$ 651,800
Measurement period adjustment				$ 10,100
Goodwill		$ 97,800	107,979	107,979
Intangible assets			47,502	47,502
Revenues			87,900	182,700
Acquisition related costs			$ 2,600	$ 27,800
CSI Compressco, LP | Minimum
Business Acquisition [Line Items]
Estimated useful lives		5 years
CSI Compressco, LP | Maximum
Business Acquisition [Line Items]
Estimated useful lives		15 years
CSI Compressco, LP | Customer relationships
Business Acquisition [Line Items]
Intangible assets		$ 41,100
CSI Compressco, LP | Trademarks and Trade Names
Business Acquisition [Line Items]
Intangible assets		$ 6,400
CSI Compressco, LP | Common Shares
Business Acquisition [Line Items]
Shares issued (in shares) | shares		6,785,712
CSI Compressco, LP | Preferred Shares
Business Acquisition [Line Items]
Fair value of consideration transferred		$ 342,285
Shares issued (in shares) | shares		5,562,273
Acquisition, estimated fair value		$ 342,300

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Our Preliminary Allocation of Purchase Price of Fair Value (Details) - USD ($) $ in Thousands	Apr. 01, 2024	Sep. 30, 2024	Dec. 31, 2023
Recognized amounts of identifiable assets acquired and liabilities assumed
Goodwill		$ 413,532	$ 305,553
CSI Compressco, LP
Business Acquisition [Line Items]
Fair value of consideration transferred	$ 342,300
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents		9,458
Receivables		48,890
Inventory		40,738
Prepaid expenses & other current assets		8,738
Intangible assets		47,502
Property, plant and equipment		813,783
Right of use assets		26,044
Deferred tax assets		17
Other non-current assets		3,110
Total assets acquired		998,280
Deferred tax liabilities		27,938
Long term debt		627,953
Other current liabilities		86,212
Other non-current liabilities		21,871
Total liabilities assumed		763,974
Total identifiable assets acquired less liabilities assumed		234,306
Goodwill	97,800	$ 107,979
CSI Compressco, LP | Preferred Shares
Business Acquisition [Line Items]
Fair value of consideration transferred	$ 342,285

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Schedule of Pro Forma Revenue Information (Details) - CSI Compressco, LP - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Revenue	$ 324,647	$ 330,690	$ 946,902	$ 912,258
Earnings	$ (6,211)	$ 21,647	$ 35,599	$ 23,033

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 324,647	$ 230,983	$ 849,792	$ 624,401
Contract Services
Disaggregation of Revenue [Line Items]
Total revenues	284,313	186,673	753,962	545,989
Other Services
Disaggregation of Revenue [Line Items]
Total revenues	40,334	44,310	95,830	78,412
Total services provided over time
Disaggregation of Revenue [Line Items]
Total revenues	300,730	224,055	813,966	602,427
Total services provided over time | Contract Services
Disaggregation of Revenue [Line Items]
Total revenues	284,313	184,959	752,282	539,575
Total services provided over time | Other Services
Disaggregation of Revenue [Line Items]
Total revenues	16,417	39,096	61,684	62,852
Total services provided or goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	23,917	6,928	35,826	21,974
Total services provided or goods transferred at a point in time | Contract Services
Disaggregation of Revenue [Line Items]
Total revenues	0	1,714	1,680	6,414
Total services provided or goods transferred at a point in time | Other Services
Disaggregation of Revenue [Line Items]
Total revenues	$ 23,917	$ 5,214	$ 34,146	$ 15,560

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jan. 01, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	$ 13,491		$ 17,424	$ 3,600
Contract liabilities	70,178		$ 63,709
Revenue recognized	63,700	$ 57,100
Transaction price allocated to unsatisfied performance obligations	1,390,725
Contract Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	1,400,000
Other Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	$ 20,700
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Term of contract	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Term of contract	7 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	$ 241,230
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Other Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	9,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	640,751
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	358,243
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	123,175
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to unsatisfied performance obligations	$ 27,326

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Revenue Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 1,390,725
Other Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	20,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 241,230
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Other Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 9,800
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 640,751
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 358,243
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 123,175
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 27,326
Remaining performance obligation, expected timing of satisfaction, period

Accounts Receivable, net - Acco

Accounts Receivable, net - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts receivable	$ 293,026	$ 121,242
Less: allowance for credit losses	12,590	8,050
Accounts receivable, net	$ 280,436	$ 113,192

Accounts Receivable, net - Narr

Accounts Receivable, net - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Allowance for credit losses	$ 12,590	$ 8,050	$ 949
Increase in allowance for credit losses	$ 4,500

Accounts Receivable, net - Chan

Accounts Receivable, net - Change in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 8,050	$ 949	$ 949
Current-period provision for expected credit losses	4,625	$ 2,047	7,101
Write-offs charged against allowance	(85)		0
Ending balance	$ 12,590		$ 8,050

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
Total inventories, net	$ 118,085	$ 76,238
Non-serialized parts
Inventory [Line Items]
Total inventories, net	97,529	62,784
Serialized parts
Inventory [Line Items]
Total inventories, net	$ 20,556	$ 13,454

Property, Plant and Equipment_3

Property, Plant and Equipment, net - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 4,288,835	$ 3,229,751
Less: accumulated depreciation and impairment	(882,510)	(693,660)
Property, plant and equipment, net	3,406,325	2,536,091
Compression equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	4,135,178	3,166,214
Field equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	92,190	19,286
Buildings and shipping containers
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	16,418	11,942
Technology hardware and software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	14,828	11,161
Trailers and vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	14,342	9,885
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	11,301	8,093
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	2,613	2,053
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	1,748	743
Other
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 217	$ 374

Property, Plant and Equipment_4

Property, Plant and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 69	$ 43.7	$ 179.6	$ 129.3

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets, Net - Schedule of Change in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 305,553
Acquisition of CSI Compressco	97,837
Measurement period adjustment	10,142
Goodwill, ending balance	$ 413,532

Goodwill and Identifiable Int_4

Goodwill and Identifiable Intangible Assets, Net - Schedule of the Company's Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Original Cost	$ 210,500	$ 163,000
Accumulated Amortization	(49,237)	(40,112)
Net Amount	161,263	122,888
Trade name
Finite-Lived Intangible Assets [Line Items]
Original Cost	19,400	13,000
Accumulated Amortization	(4,308)	(3,181)
Net Amount	$ 15,092	$ 9,819
Remaining Weighted Average Amortization Period (years)	10 years 9 months 18 days	15 years 1 month 6 days
Remaining Weighted Average Amortization Period (years) for acquired intangibles	4 years 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Original Cost	$ 191,100	$ 150,000
Accumulated Amortization	(44,929)	(36,931)
Net Amount	$ 146,171	$ 113,069
Remaining Weighted Average Amortization Period (years)	12 years 10 months 24 days	12 years 9 months 18 days
Remaining Weighted Average Amortization Period (years) for acquired intangibles	14 years 8 months 12 days

Goodwill and Identifiable Int_5

Goodwill and Identifiable Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3.7	$ 2.4	$ 9.1	$ 7.1

Goodwill and Identifiable Int_6

Goodwill and Identifiable Intangible Assets, Net - Schedule of Future Minimum Amortization Expense for Identified Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 3,430
2025	13,494
2026	13,494
2027	13,494
2028	13,494
Thereafter	103,857
Net Amount	$ 161,263	$ 122,888

Long-Lived and Other Asset Im_2

Long-Lived and Other Asset Impairment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Asset Impairment Charges [Abstract]
Impairment, long-lived asset	$ 9.9	$ 0	$ 9.9	$ 0

Debt and Credit Facilities - Sc

Debt and Credit Facilities - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt outstanding	$ 2,641,719	$ 1,830,346
Less: unamortized debt issuance cost	(46,321)	(38,886)
Long-term debt, net of unamortized debt issuance cost	2,595,398	1,791,460
Other borrowings	7,652	0
Total long-term debt and other borrowings	2,603,050	1,791,460
ABL Facility
Debt Instrument [Line Items]
Total debt outstanding	1,891,719	1,830,346
2029 Senior Notes
Debt Instrument [Line Items]
Total debt outstanding	$ 750,000	$ 0

Debt and Credit Facilities - AB

Debt and Credit Facilities - ABL Facility (Details) - ABL Facility $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)	Mar. 22, 2023 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding	$ 2.4
Minimum fixed charge coverage ratio	2.5
Quarter Ending June 30, 2024
Debt Instrument [Line Items]
Maximum leverage ratio	5.75
Quarter Ending September 30, 2024
Debt Instrument [Line Items]
Maximum leverage ratio	5.75
Quarter Ending December 31, 2024
Debt Instrument [Line Items]
Maximum leverage ratio	5.75
Quarter Ending March 31, 2025
Debt Instrument [Line Items]
Maximum leverage ratio	5.75
Each Quarter Ending After June 30, 2025
Debt Instrument [Line Items]
Maximum leverage ratio	5.25
Fourth Amendment and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 2,200
Maximum threshold limit value beyond which cash dominion is triggered	$ 200
Percentage of aggregate commitments beyond which cash dominion is triggered	10%

Debt and Credit Facility - Thir

Debt and Credit Facility - Third Amendment to Fourth Amended and Restated Credit Agreement (Details) - ABL Facility $ in Millions		9 Months Ended
	Jan. 22, 2024 USD ($)	Sep. 30, 2024	Dec. 31, 2023
Minimum
Debt Instrument [Line Items]
Commitment fee		0.25%
Line of credit, commitment fee percentage, unused portion of line of credit, percentage to total commitments		0.50
Maximum
Debt Instrument [Line Items]
Commitment fee		0.50%
Line of credit, commitment fee percentage, unused portion of line of credit, percentage to total commitments		0.50
Third Amendment to Fourth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt fees	$ 2.9
Minimum net borrowings availability	$ 125
Number of consecutive business days	5 days
Third Amendment to Fourth Amended and Restated Credit Agreement | Debt Instrument, Covenant, Period One
Debt Instrument [Line Items]
Maximum leverage ratio	3.75
Third Amendment to Fourth Amended and Restated Credit Agreement | Debt Instrument, Covenant, Period Two
Debt Instrument [Line Items]
Maximum leverage ratio	3.25
Fourth Amendment and Restated Credit Agreement
Debt Instrument [Line Items]
Variable interest rate		7.64%	8.08%

Debt and Credit Facilities - Se

Debt and Credit Facilities - Senior Notes (Details) - Senior Notes Due 2029 - 2029 Senior Notes $ in Millions	Feb. 02, 2024 USD ($)
Debt Instrument [Line Items]
Debt instrument face value	$ 750
Interest rate, stated percentage	7.25%
Make-whole redemption price, percentage	100%
Make-whole redemption price, variable rate	0.50%
Debt fees	$ 13.4
2026
Debt Instrument [Line Items]
Make-whole redemption price, percentage	40%
Optional redemption percentages	103.625%
2027
Debt Instrument [Line Items]
Optional redemption percentages	101.813%
2028 and thereafter
Debt Instrument [Line Items]
Optional redemption percentages	100%

Debt and Credit Facilities - Te

Debt and Credit Facilities - Term Loan (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
	Jul. 03, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Proceeds from termination of interest rate swaps and collars			$ 25,800
Loss on extinguishment of debt		$ 0	$ 4,359
Total long-term debt and other borrowings		2,603,050		$ 1,791,460
Debt issuance costs		$ 46,321		38,886
Term Loan
Debt Instrument [Line Items]
Repayment of debt	$ 300,000
Loss on extinguishment of debt				4,400
Debt fees expense				$ 2,400
Total long-term debt and other borrowings	689,800
Debt instrument face value	700,000
Debt issuance costs	$ 10,200

Debt and Credit Facilities - _2

Debt and Credit Facilities - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 0
2025	5,106
2026	2,546
2027	0
2028	1,891,719
Thereafter	750,000
Total	$ 2,649,371

Debt and Credit Facilities - De

Debt and Credit Facilities - Debt Issuance Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt issuance costs	$ 46,321		$ 46,321		$ 38,886
Amortization of debt issuance costs	$ 3,100	$ 200	$ 8,079	$ 11,260

Debt and Credit Facilities - Ot

Debt and Credit Facilities - Other Borrowings (Details) - USD ($) $ in Thousands	Apr. 01, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt outstanding		$ 2,641,719	$ 1,830,346
Other borrowings		7,652	$ 0
Equipment Finance Agreement | Notes Payable, Other Payables
Debt Instrument [Line Items]
Total debt outstanding	$ 11,400
Notes payable	$ 700
Monthly installments, term	36 months
Other borrowings		7,700
Current portion		6,600
Long-term portion		$ 1,100

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Information Related to Notional Amount and Maturities Dates for Interest Rate Swaps (Details) - Interest rate swaps and collars	Sep. 30, 2024 USD ($)
12/5/2024
Derivative [Line Items]
Notional Amount	$ 175,000,000
12/5/2024
Derivative [Line Items]
Notional Amount	50,000,000
6/14/2025
Derivative [Line Items]
Notional Amount	200,000,000
9/2/2025
Derivative [Line Items]
Notional Amount	125,000,000
12/6/2025
Derivative [Line Items]
Notional Amount	125,000,000
6/14/2026
Derivative [Line Items]
Notional Amount	75,000,000
6/22/2026
Derivative [Line Items]
Notional Amount	125,000,000
12/6/2026
Derivative [Line Items]
Notional Amount	125,000,000
3/2/2027
Derivative [Line Items]
Notional Amount	100,000,000
5/18/2027
Derivative [Line Items]
Notional Amount	75,000,000
5/19/2027
Derivative [Line Items]
Notional Amount	100,000,000
5/19/2027
Derivative [Line Items]
Notional Amount	200,000,000
12/6/2027
Derivative [Line Items]
Notional Amount	$ 125,000,000

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Effects of Company's Derivative Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Total gain (loss) on derivatives	$ (20,327)	$ 15,141	$ 6,227	$ 42,080
Interest rate collars
Derivatives, Fair Value [Line Items]
Total gain (loss) on derivatives			0	(569)
Interest rate swaps
Derivatives, Fair Value [Line Items]
Total gain (loss) on derivatives	$ (20,327)	$ 15,141	$ 6,227	$ 42,649

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 3,071	$ 3,673
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap- current	4,110	8,194
Interest rate swap- non-current	5,121	14,256
Contingent consideration	3,071	3,673
Senior Notes Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Notes	777,788
Senior Notes Due 2029 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Notes	750,000
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap- current	4,110	8,194
Interest rate swap- non-current	5,121	14,256
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Level 1 | Senior Notes Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Notes	0
Level 1 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap- current	0	0
Interest rate swap- non-current	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Level 2 | Senior Notes Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Notes	777,788
Level 2 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap- current	4,110	8,194
Interest rate swap- non-current	5,121	14,256
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	3,071	3,673
Level 3 | Senior Notes Due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Notes	0
Level 3 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap- current	0	0
Interest rate swap- non-current	$ 0	$ 0

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands

3 Months Ended

9 Months Ended

Apr. 01, 2024

Jul. 13, 2023

Jul. 03, 2023

Jun. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Mar. 31, 2024

Dec. 31, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common stock, shares issued (in shares)

84,509,612

77,400,000

Proceeds from initial public offering, net of underwriter discounts

$ 230,800

$ 0

$ 277,840

Common Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Shares issuance and sale (in shares)

18,400,000

Common stock, shares outstanding (in shares)

84,312,360

77,400,000

84,509,612

77,400,000

77,434,577

77,400,000

59,000,000

59,000,000

59,000,000

Issuance of common shares for business acquisition (in shares)

6,785,712

CSI Compressco, LP | Common Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Issuance of common shares for business acquisition (in shares)

6,785,712

CSI Compressco, LP | Preferred Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Issuance of common shares for business acquisition (in shares)

5,562,273

IPO

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Shares issuance and sale (in shares)

16,000,000

Over-Allotment Option

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common stock, shares issued (in shares)

77,400,000

Shares issuance and sale (in shares)

2,400,000

Proceeds from issuance of common stock

$ 36,200

Common stock, shares outstanding (in shares)

77,400,000

Stockholders_ Equity - Share Re

Stockholders’ Equity - Share Repurchases (Details) $ / shares in Units, $ in Millions	Sep. 11, 2024 USD ($) $ / shares shares
Equity [Abstract]
Repurchase of treasury stock (in shares) | shares	1,000,000
Sale of stock (in dollars per share) | $ / shares	$ 25
Aggregate purchase price | $	$ 25

Stockholders' Equity - Class B

Stockholders' Equity - Class B and C Profits Interests (Details) - Class B Incentive Units - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 16, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares)	60,406.9		60,406.9
Shares outstanding (in shares)					57,058.5
Shares granted (in shares)			0	0
Award vesting rights, term			five
Selling, General and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity compensation expense	$ 21	$ 502	$ 200	$ 1,400
Time Vesting
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights			25%
Performance Vesting
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights			75%
Time Vesting
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unvested time vesting units (in shares)	276		276
Unrecognized stock compensation expense	$ 100		$ 100
Two Thousand And Nineteen Class B Unit Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares)						61,098.4

Stockholders' Equity - Preferre

Stockholders' Equity - Preferred Stock (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2024 vote $ / shares shares	Apr. 01, 2024 USD ($) $ / shares	Dec. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of votes per preferred share | vote	1
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000
Preferred stock, shares issued (in shares)	5,562,273		0
Preferred stock, shares outstanding (in shares)	5,562,273		0
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01
Preferred stock value | $		$ 50
Preferred stock, conversion ratio	1
CSI Compressco, LP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Post - closing period		180 days

Stockholders' Equity - 2023 Omn

Stockholders' Equity - 2023 Omnibus Incentive Plan (Details) - USD ($) $ in Millions				3 Months Ended		9 Months Ended
	May 01, 2024	Apr. 01, 2024	Dec. 08, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 20, 2023
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)						641,014	985,313
Performance Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)						261,767	311,845
Period of cumulative adjusted EBIDTA						3 years
VWAP trading days						20 days
Percentage of award vesting rights						100%
Unrecognized stock compensation expense				$ 27.7		$ 27.7
Performance Share Units | Selling, General and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity compensation expense				$ 3.9	$ 2	$ 11.9	$ 2
Performance Share Units | Achieved ESG Scorecard
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						100%
Performance Share Units | Not Achieved ESG Scorecard
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						0%
Performance Share Units | Performance at Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						200%
Performance Share Units | Performance at Target
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						100%
Performance Share Units | Performance at Threshold
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						50%
Performance Share Units | Performance at Below Threshold
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of award vesting rights						0%
Performance Share Units | Discretionary Cash Flow
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance target percentage						30%
Performance Share Units | Consolidated Net Leverage Ratio
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance target percentage						30%
Performance Share Units | Absolute Total Shareholders' Return
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance target percentage						30%
Performance Share Units | ESG Scorecard
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance target percentage						10%
Performance Share Units | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of share issued						0%
Performance Share Units | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of share issued						190%
Omnibus Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares reserved for issuance (in shares)								6,375,000
Shares granted (in shares)						2,394,649
Omnibus Plan | Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period		3 years
Granted (in shares)		127,355
Omnibus Plan | Restricted Stock Units (RSUs) | Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period						3 years
Granted (in shares)						1,821,007
Omnibus Plan | Restricted Stock Units (RSUs) | Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	1 year
Granted (in shares)	33,114
Omnibus Plan | Performance Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period						3 years
Omnibus Plan | Performance Share Units | Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)						573,642
2020 Long-Term Incentive Plan | Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period			3 years
Granted (in shares)			138,430

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Award Activity Under Omnibus Plan (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restricted Stock Units (RSUs)
Number of RSUs and PSUs
Outstanding, Beginning of Period (in shares)	1,079,082	0
Granted (in shares)	641,014	985,313
Vested or exercised (in shares)	(316,641)	0
Forfeited (in shares)	(189,575)	(20,679)
Outstanding, End of Period (in shares)	1,213,880	964,634
Restricted stock awards expected to vest (in shares)	1,213,880	964,634
Weighted- Average Price
Outstanding, Beginning of Period (in dollars per share)	$ 16.30	$ 0
Granted (in dollars per share)	24.32	16
Vested or exercised (in dollars per share)	18.50	0
Forfeited (in dollars per share)	17.32	0
Outstanding, End of Period (in dollars per share)	19.80	16
Restricted stock awards expected to vest (in dollars per share)	$ 19.80	$ 16
Performance Share Units
Number of RSUs and PSUs
Outstanding, Beginning of Period (in shares)	311,875	0
Granted (in shares)	261,767	311,845
Vested or exercised (in shares)	(6,285)	0
Forfeited (in shares)	(14,231)	0
Outstanding, End of Period (in shares)	553,126	311,845
Restricted stock awards expected to vest (in shares)	553,126	311,845
Weighted- Average Price
Outstanding, Beginning of Period (in dollars per share)	$ 16.99	$ 0
Granted (in dollars per share)	28.88	16.99
Vested or exercised (in dollars per share)	18.70	0
Forfeited (in dollars per share)	19.38	0
Outstanding, End of Period (in dollars per share)	22.54	16.99
Restricted stock awards expected to vest (in dollars per share)	$ 22.54	$ 16.99

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Dividends per common share (in dollars per share)	$ 0.41	$ 0.38	$ 0.38			$ 0.38
Dividends paid	$ 35,113	$ 32,578	$ 29,815	$ 97,506	$ 0	$ 29,793

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrued capital expenditures	$ 6,000,000	$ 30,500,000
Purchase commitments	158,900,000
Purchase commitment, year one	147,600,000
Contingent consideration	3,100,000
Outstanding receivables	0	0
Sales tax liability	69,000,000	$ 28,800,000
Contingent liability accrued	39,500,000
Fair value adjustments	15,000,000
Operating expense	$ 3,600,000

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance	$ 3,338	$ 2,353
Interest rate swap receivable	6,129	2,025
Prepaid vehicle allowance	1,224	1,130
Deferred project costs	0	737
Prepaid rent	1,126	532
Prepaid taxes	4,445	0
Other	3,539	3,577
Total prepaid expenses and other current assets	$ 19,801	$ 10,353

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Sales tax liability	$ 69,822	$ 28,847
Accrued bonus	16,614	13,259
Accrued accounts payable	1,220	15,506
Accrued interest	43,781	8,313
Station project accrual	5,757	7,797
Accrued taxes	11,514	6,415
Accrued professional fees	746	6,015
Contingent consideration	3,071	3,673
Accrued payroll	7,389	3,321
Accrued insurance	0	856
Lease liabilities - current portion	11,702	0
Equipment financing - current portion	6,558	0
Other	14,588	3,076
Total accrued liabilities	$ 192,762	$ 97,078

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (2,184,000)	$ 7,904,000	$ 10,027,000	$ 9,765,000
Effective tax rate	26%	26.60%	24.60%	26.60%
Uncertain tax benefits	$ 0		$ 0		$ 0
Uncertain tax positions, accrued interest and penalties	$ 0	$ 0	$ 0	$ 0

Defined Contribution Plan (Deta

Defined Contribution Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Contribution Plan [Abstract]
Defined contribution plan cost	$ 0.9	$ 0.7	$ 2.9	$ 2.3

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years
Lessee, operating lease, renewal term	7 years
Operating Lease, Lease Not yet Commenced
Lessee, Lease, Description [Line Items]
Unrecorded unconditional purchase obligation	$ 8.1
Minimum
Lessee, Lease, Description [Line Items]
Option to terminate, period	30 days
Maximum
Lessee, Lease, Description [Line Items]
Option to terminate, period	6 months

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating lease expense:
Operating lease expense	$ 5,762	$ 2,428	$ 13,620	$ 5,431
Finance lease expense:
Amortization of leased assets	605	0	805	0
Interest on lease liabilities	68	0	118	0
Total finance lease expense	673	0	923	0
Total lease expense	6,435	2,428	14,543	5,431
Short-term operating lease expense	$ 1,300	$ 2,000	$ 2,400	$ 5,000

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$ 3,947	$ 4,147
Operating cash flows - finance leases	68	0
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	2,510	26,758
Finance leases	$ 0	$ 0

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating leases:
Operating right-of-use asset	$ 54,489	$ 33,716
Accrued liabilities	$ 10,006	$ 0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating lease liabilities	$ 50,491	$ 34,468
Total operating lease liabilities	60,497	34,468
Finance leases:
Finance lease right-of-use asset	4,702	0
Finance lease liabilities, current portion	$ 1,695	$ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Finance lease liabilities, net of current portion	$ 2,737	$ 0
Total finance lease liabilities	$ 4,432	$ 0

Leases - Schedule of Additional

Leases - Schedule of Additional Operating Lease Information (Details)	Sep. 30, 2024	Dec. 31, 2023
Weighted average remaining lease term:
Operating leases	5 years 9 months 21 days	7 years 6 months
Finance leases	2 years 11 months 8 days	0 years
Weighted average discount rate:
Operating leases	9.80%	9.54%
Finance leases	6.23%	0%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments, Operating & Finance Lease (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 4,233
2025	15,864
2026	15,062
2027	11,484
2028	8,078
Thereafter	27,705
Total lease payments	82,426
Less imputed interest	(21,929)
Total lease liabilities	60,497	$ 34,468
Finance Leases
Remainder of 2024	361
2025	1,731
2026	1,460
2027	1,189
2028	145
Thereafter	0
Total lease payments	4,886
Less imputed interest	(454)
Total lease liabilities	$ 4,432	$ 0

Segments - Narrative (Details)

Segments - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			2
Depreciation and amortization | $	$ 73,500	$ 46,100	$ 189,859	$ 136,414

Segments - Schedule of Financia

Segments - Schedule of Financial Metrics by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 324,647	$ 230,983	$ 849,792	$ 624,401
Adjusted gross margin	121,904	80,606	319,807	228,823
Total assets	4,492,008	3,244,240	4,492,008	3,244,240	$ 3,244,106
Capital expenditures	86,533	51,539	263,719	145,573
Contract Services
Segment Reporting Information [Line Items]
Revenue	284,313	186,673	753,962	545,989
Adjusted gross margin	114,244	75,116	302,271	216,318
Total assets	4,452,766	3,213,764	4,452,766	3,213,764
Capital expenditures	86,533	51,539	263,719	145,573
Other Services
Segment Reporting Information [Line Items]
Revenue	40,334	44,310	95,830	78,412
Adjusted gross margin	7,660	5,490	17,536	12,505
Total assets	39,242	30,476	39,242	30,476
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Segments - Schedule of Total Gr

Segments - Schedule of Total Gross Margin to Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting [Abstract]
Adjusted gross margin	$ 121,904	$ 80,606	$ 319,807	$ 228,823
Long-lived asset impairment	(9,921)	0	(9,921)	0
Selling, general and administrative expenses	(35,528)	(19,648)	(120,279)	(46,171)
Gain (loss) on sale of property, plant and equipment	(10,376)	0	(9,203)	721
Interest expense, net	(53,991)	(39,710)	(145,864)	(182,030)
Loss on extinguishment of debt	0	(6,757)	0	(6,757)
Gain (loss) on derivatives	(20,327)	15,141	6,227	42,080
Other income (expense)	(156)	38	(6)	39
Income (loss) before income taxes	$ (8,395)	$ 29,670	$ 40,761	$ 36,705

Earnings Per Share of Common _3

Earnings Per Share of Common Stock - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive securities (in shares)		0	42,000	0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)		0	42,000	0
Preferred Shares
Earnings Per Share [Abstract]
Anti-dilutive securities (in shares)	5,600,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	5,600,000
RSUs and PSUs
Earnings Per Share [Abstract]
Anti-dilutive securities (in shares)	1,100,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	1,100,000

Earnings Per Share of Common _4

Earnings Per Share of Common Stock - Schedule of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to common shareholders	$ (5,648)	$ 21,766	$ 30,812	$ 26,940
Less: expense attributable to non-forfeitable RSUs	451	0	1,350	0
Net income (loss) used in basic earnings per share	(6,099)	21,766	29,462	26,940
Net income (loss) used in diluted earnings per share	$ (6,099)	$ 21,766	$ 29,462	$ 26,940
Basic weighted average shares of common stock (in shares)	84,292,083	76,731,868	81,774,211	64,954,244
Effect of dilutive securities (in shares)	0	167,615	6,571,772	167,615
Diluted weighted average shares of common stock (in shares)	84,292,083	76,899,483	88,345,983	65,121,859
Basic earnings (loss) per share of common stock (in dollars per share)	$ (0.07)	$ 0.28	$ 0.36	$ 0.41
Diluted earnings (loss) per share of common stock (in dollars per share)	$ (0.07)	$ 0.28	$ 0.33	$ 0.41
RSUs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	0		1,009,500
Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	0		5,562,273

Related Party Transactions (Det

Related Party Transactions (Details) - Related Party - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Long-term purchase commitment	$ 5
Long-term purchase commitment, period	5 years
Purchase commitment, amount committed				$ 4
Payments to long-term purchase commitment		$ 0	$ 0	$ 2	$ 1