Archrock
21 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.
Customers
Top five customers
earns from · 35%named as a riskOur five most significant customers collectively accounted for 35%, 35% and 33% of our revenues during the years ended December 31, 2025, 2024 and 2023, respectively.Risk factors (Item 1A)
Two largest receivable customers
earns from · approximately 30% of our consolidated trade accounts receivablenamed as a riskDuring the year ended December 31, 2025, no customers accounted for more than 10% of our consolidated revenue and as of December 31, 2025, two customers accounted for approximately 30% of our consolidated trade accounts receivable, primarily related to our contract operations segment.Business (Item 1)
Suppliers
Compression equipment suppliers
depends onnamed as a riskSome equipment, materials and services used in our business are obtained from a limited group of suppliers.Risk factors (Item 1A)
Other companies
NGCS Acquisition
named as a riskWe may not be able to achieve the expected benefits of the NGCS Acquisition.Risk factors (Item 1A)
Liquefied natural gas exports
These fundamentals include significant natural gas resources in the U.S., increased unconventional oil and natural gas production, decreasing natural reservoir pressures, rising gas-to-oil ratios for maturing wells and expected increased natural gas demand in the U.S. from the growth of liquefied natural gas exports, exports of natural gas via pipeline to Mexico, power generation of AI data centers and industrial uses.Business (Item 1)
Also named by L
Places
Permian Basin
concentrated in · approximately three-fourths of our operating horsepowerWe have a meaningful presence in associated gas plays, including the Permian and Eagle Ford shales, which, combined, account for approximately three-fourths of our operating horsepower.Business (Item 1)
Also named by AESI, APA, ARLP, ATO, CRGY, CVX, DINO, DMLP and 20 more
Eagle Ford Shale
concentrated in · approximately three-fourths of our operating horsepowerWe have a meaningful presence in associated gas plays, including the Permian and Eagle Ford shales, which, combined, account for approximately three-fourths of our operating horsepower.Business (Item 1)
New Mexico
subject tonamed as a riskMeanwhile, several states — including, most notably, New Mexico and Colorado — have continued to develop their own more stringent methane rules that will or are anticipated to impose additional requirements on the industry.Risk factors (Item 1A)
Commodities and inputs
Natural gas
exposed to its pricenamed as a riskDemand for our products and services is correlated to natural gas and crude oil production.Business (Item 1)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Steel
exposed to its pricenamed as a riskAny widespread imposition of new or increased tariffs and trade restrictions could increase the cost of imported materials and products, such as steel, which accordingly could increase costs of our products, disrupt our supply chain, cause adverse financial impacts due to volatility in foreign exchange rates and interest rates, increase inflationary pressures on raw materials and energy, and negatively impact our profit margins.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Lube oil
depends onnamed as a riskFurther, supply chain bottlenecks could adversely affect our ability to obtain necessary materials, parts or lube oil used in our operations or increase the costs of such items.Risk factors (Item 1A)
Regulators
U.S. Environmental Protection Agency (EPA)
subject tonamed as a riskThe CAA and analogous state laws and their implementing regulations regulate emissions of air pollutants from various sources, including natural gas compressors, and also impose various monitoring and reporting requirements.Business (Item 1)
Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AYI and 78 more
Laws and programs
Credit Facility (SOFR)
exposed to its price · $918.5 million of variable interest rate indebtednessnamed as a riskAs of December 31, 2025, we had $918.5 million of variable interest rate indebtedness outstanding at a weighted average interest rate of 5.8%.Market risk (Item 7A)
Also named by AM, AR, BSM, CGBD, CLS, CVLG, CWST, MYRG and 5 more
U.S. tariffs
subject tonamed as a riskAs a result, we are unable to pass increases in the prices of the equipment, materials and services we utilize to provide contract operations services, as a result of inflation, tariffs, or otherwise, onto our customers, which could result in a reduction in net income.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Section 382 of the Internal Revenue Code
subject tonamed as a riskOur ability to use any NOLs and interest expense limitation carryovers generated by us could be substantially limited if we were to experience an “ownership change” as defined under Section 382 of the Code.Risk factors (Item 1A)
EPA NSPS Subparts OOOOb and OOOOc
subject tonamed as a riskIn March 2024, the EPA published even more stringent rules with respect to methane and VOC for new and existing sources, via NSPS Subparts OOOOb and OOOOc, with the OOOOb rules for sources constructed, modified, or reconstructed after December 6, 2022, which became effective on May 7, 2024.Risk factors (Item 1A)
Bureau of Land Management Waste Prevention Rule
subject tonamed as a riskAmong the newly adopted methane requirements that may impact our operations are broader applicability to compression equipment relative to the existing rules, increased work practices and inspection requirements and mandates for certain new zero-emissions equipment.Risk factors (Item 1A)
Colorado Air Quality Control Commission Midstream Rule
subject tonamed as a riskFor example, Colorado’s Air Quality Control Commission adopted the “Midstream Rule” on December 20, 2024, to address GHG emissions from midstream oil and gas operations, including from natural gas compressor stations.Risk factors (Item 1A)
NAAQS ozone standard
subject tonamed as a riskState implementation of the revised NAAQS could result in stricter permitting requirements, delay or prohibit our customers’ ability to obtain such permits and result in increased expenditures for pollution control equipment, the costs of which could be significant.Risk factors (Item 1A)
Methane Emissions and Waste Reduction Incentive Program
subject tonamed as a riskThe IRA also amended the Clean Air Act to include a Methane Emissions and Waste Reduction Incentive Program for petroleum and natural gas systems.Risk factors (Item 1A)
Technology
Electric compressors
named as a riskIn addition, increased focus of our customers on reducing emissions from, or the use of, combustion engines in compression could increase demand for electric compressors or require us to make modifications to our existing natural gas-powered units.Risk factors (Item 1A)