Csi Compressco Lp (CCLP) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Exhibit 99.1

CSI COMPRESSCO LP ANNOUNCES

FOURTH QUARTER AND TOTAL YEAR 2020 RESULTS

THE WOODLANDS, Texas (February 24, 2021) / PRNewswire / - CSI Compressco LP (“CSI Compressco”, “CCLP” or the “Partnership”) (NASDAQ: CCLP) today announced fourth quarter and total year 2020 results.

Fourth Quarter 2020 Summary:

Fourth Quarter 2020

“In January 2021, a subsidiary of Spartan Energy Partners LP (“Spartan”) acquired CSI Compressco’s General Partner along with a significant number of CCLP Limited Partner units from TETRA Technologies, Inc. (TTI)” commented John Jackson, Chief Executive Officer of CSI Compressco.  “We were pleased to have closed this transaction.  We believe that CSI Compressco has a solid platform of assets and people as well as a strong industry reputation.  We commend the employees of the Partnership for their efforts during a very challenging 2020 and thank everyone at TTI for their efforts to transition to a new General Partner.  We view the Spartan business as complementary to CSI Compressco.  Currently, there are opportunities to joint bid projects and at this stage these are primarily international opportunities.  Over a longer cycle, we will evaluate the benefits of combining Spartan with the Partnership.  There are no current plans to do so, but if the benefits of combining make economic sense for both companies, then the larger scale, lower leverage, and more diverse suite of products provided by a combination would be of benefit to CSI Compressco.”

“We are excited about the future of the Partnership and the industry overall.  That is evident by Spartan’s investment in the compression space through this strategic transaction.  While the 4th quarter reflected continued modest declines across the Partnership’s business and we recognize that additional declines may persist into the front portion of 2021, we are optimistic about the long-term future of the compression industry.  We believe in the natural gas business and compression is a key component of the natural gas value chain, not only in the US but around the world.  The industry faces unpredictable times, but we are encouraged by the natural gas price environment and early signs of potential new activity in 2021.  We will not operate CSI Compressco on a strategy of hope of a recovery, but we will operate the company in a manner that will focus the Partnership on improving near term performance while positioning the Partnership to participate and thrive in a recovery.  We enter 2021 with 4 large HP units on order that are already under contract.  We expect to focus any additional capital spending towards redeploying idle fleet units.  Capital discipline, cost management and customer service are areas we can and will focus on regardless of the environment.  We look forward to the challenge and to the future.”

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