CSI Compressco LP (‘CSI Compressco' or the ‘Partnership') announced that, in light of the current, significant macroeconomic uncertainty resulting from the recent decline in oil prices and the ongoing COVID-19 pandemic, it is withdrawing its previously issued financial guidance for full year 2020, which should no longer be relied upon. The Partnership is also providing preliminary first quarter 2020 financial results.  Additionally, the Partnership outlines below a series of actions that it has taken to date as well as others it is in the process of implementing to address the ongoing downturn in the industry.

CSI Compressco LP is projecting a first quarter 2020 net loss before income tax provision of between $7.5 million and $8.0 million, compared to a $1.9 million net loss before income tax provisions in the fourth quarter of 2019 and a $8.1 million net loss before income tax provision for the first quarter of 2019. First quarter 2020 revenue is projected to be between $95 million and $97 million, which compares to $124 million for the fourth quarter of 2019 and $103 million for the first quarter of 2019.