CSI COMPRESSCO LP ANNOUNCES FOURTH QUARTER 2022 RESULTS; PROVIDES 2023 GUIDANCE; AND ACHIEVES 13% YEAR-ON-YEAR ADJUSTED EBITDA GROWTH.

THE WOODLANDS, Texas: CSI Compressco LP ("CSI Compressco", "CCLP" or the "Partnership") (NASDAQ: CCLP) today announced fourth quarter and total year 2022 results.

Fourth Quarter 2022 Summary

Total revenues for fourth quarter 2022 were $94.0 million compared to $80.2 million for fourth quarter 2021.

Net loss for fourth quarter 2022 was $4.2 million compared to $17.3 million for fourth quarter 2021.

Adjusted EBITDA for fourth quarter 2022 was $32.4 million compared to $26.4 million for fourth quarter 2021.

Distributable cash flow for fourth quarter was $13.0 million compared to $9.9 million for fourth quarter 2021

Net leverage ratio was 5.5x at the end of the fourth quarter of 2022 compared to 6.2x for fourth quarter 2021.

Utilization at the end of the fourth quarter 2022 was 86.8% compared to 80.8% in the fourth quarter 2021.

Distribution coverage ratio for fourth quarter 2022 was 9.2x compared to 7.0x in the fourth quarter of 2021.

Fourth quarter distribution of $0.01 per common unit was paid on February 14, 2023.

Total Year 2022 Summary

Total revenues for 2022 were $353.4 million compared to $304.2 million in 2021.

Net loss was $22.1 million compared to a net loss of $50.3 million in 2021.

Adjusted EBITDA was $115.5 million compared to $101.8 million in 2021.

Distributable cash flow was $42.4 million compared to $38.1 million in 2021.

Long-term debt, net as of December 31, 2022 totals $634.0 million compared to $631.1 million as of December 31, 2021

Management Commentary and Outlook

John Jackson, CEO of CSI Compressco commented, "Our fourth quarter results reflected a continuing robust demand for compression and related services. We are now seeing over the last couple of quarters the impact of this demand translate into positive improvements in our financial results as the inflation impacts have slowed. The sequential improvements continued with higher EBITDA, contract services revenue, improved utilization and continued pricing improvement. We continued to add new build units to our fleet while upgrading some of our existing units through a combination of electric drive conversions and reconfiguring units to more industry-standard applications. Our overall fleet utilization improved to 86.8%, however, our reciprocating fleet improved to 93.3% and our reciprocating fleet represents over 82% of our total horsepower. Our leverage ratio has continued to improve during the fourth quarter reflecting the improving financial results."

"As we look...