Episode 26: 35+ in Gas Compression

Chet Erwin, CEO of newly formed CherCo joins host Michael Haning. Chet Erwin has over 35 years of experience in starting and expanding successful companies in the energy sector. 

Chet began his career as one of the founders of Hanover Compression Company “Hanover” (now Archrock: AROC) where he served as Chief Operating Officer and President of the Operating Board. Highlights during Chet’s tenure: 

- Hanover was incorporated in October of 1990, Hanover quickly acquired 3 major compression rental companies in TX and LA; 

- Hanover completed its IPO in July 1997 and began trading on the NYSE; 

- Hanover went from a 4 person Texas operation in 1990 to over 5,000 worldwide employees by 2001.  

Chet co-founded Valerus Compression Services “Valerus” (now AXIP) in August of 2004 where he served as Chief Executive Officer and Chairman of the Operating Board. Chet’s second compression venture was equally as impressive as the first, highlights below:

- Chet’s execution and experience at the helm was evident with 2005 revenues increasing 445% from 2004; 

- In 2006, Valerus grew revenues another 120% and was quickly becoming a force within the compression space;  

- Valerus continued to quickly gain market share and by its fifth full year of business was the second largest gas handling company worldwide.  

Michael and Chet have a great conversation about the compression industry.