---
schema_version: "secwatch.filing_event.v1"
accession: "0001084991-23-000019"
form_type: "8-K"
ticker: "NGS"
cik: "0001084991"
company_name: "NATURAL GAS SERVICES GROUP INC"
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T11:06:42.026975+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NGS enters $175M revolving credit facility, up from $50M prior line

## Summary
- New $175M senior secured revolving credit agreement with Texas Capital Bank, maturing Feb 2028; can request up to $125M increase (max $300M).
- Borrowing base as of Jan 31, 2023 was $134M; $45M outstanding at closing.
- Over 85% of committed funding allocated to high horsepower compressor packages; ~60% already contracted under long-term contracts.
- Prior credit line of $50M was nearly fully utilized; new facility supports capex for contracted and prospective contracts.
- Applicable margin: 2.00%-2.75% for Base Rate loans, 3.00%-3.75% for Term SOFR loans, based on leverage ratio.

## SEC filing metadata
- accession: 0001084991-23-000019
- form_type: 8-K
- ticker: NGS
- cik: 0001084991
- company_name: NATURAL GAS SERVICES GROUP INC
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1084991/000108499123000019/0001084991-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1084991/000108499123000019/ngs-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001084991-23-000019
- JSON: https://secwatch.observer/filing/0001084991-23-000019.json
- Plain text: https://secwatch.observer/filing/0001084991-23-000019.txt

## Key facts
- Debt Financings
  NATURAL GAS SERVICES GROUP INC incurred revolving credit of initial commitment of $175 million with Texas Capital Bank at Base Rate plus Applicable Margin or Adjusted Term SOFR plus Applicable Margin maturing February 28, 2028.
  - Instrument: revolving credit
  - Principal: initial commitment of $175 million
  - Counterparty: Texas Capital Bank
  - Rate: Base Rate plus Applicable Margin or Adjusted Term SOFR plus Applicable Margin
  - Maturity: February 28, 2028
  - Event: incurrence
  source text: On February 28, 2023, we entered into a five-year senior secured revolving credit agreement (“Amended and Restated Credit Agreement”) with Texas Capital Bank, as administrative agent (the “Lender”), TCBI Securities, Inc., as joint lead arranger and sole book runner and Bank of America, N.A., as joint lead arranger, with an initial commitment of $175 million as of the closing date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1084991/000108499123000019/0001084991-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.