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       <p style="margin:0pt; text-align:center;  padding-top:1pt; padding-bottom:1pt"><font style="font-family:Arial; font-size:11pt; font-weight:bold">UNITED STATES</font></p>
    <h1 style="margin:0pt; text-align:center; padding-top:1pt; padding-bottom:1pt"><font style="font-family:Arial; font-size:11pt; font-weight:bold">SECURITIES AND EXCHANGE COMMISSION</font></h1>
            <p style="margin:0pt; text-align:center; padding-top:1pt; padding-bottom:1pt"><font style="font-family:Arial; font-size:11pt">WASHINGTON, D.C. 20549</font></p>
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            <h2 style="margin:11pt 0pt 0pt; text-align:center"><font style="font-family:Arial; font-size:14pt; font-weight:bold">FORM 8-K</font></h2>
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            <h1 style="margin:12pt 0pt 0pt; text-align:center; page-break-after:avoid"><font style="font-family:Arial; font-size:11pt; font-weight:normal">CURRENT REPORT</font></h1>
            <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:11pt">PURSUANT TO SECTION 13 OR 15(d) OF THE </font></p>
            <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:11pt">SECURITIES EXCHANGE ACT OF 1934</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:11pt">Date of report (date of earliest event reported): </font><font style="font-family:Arial; font-size:11pt; font-weight:bold">March </font><font style="font-family:Arial; font-size:11pt; font-weight:bold">25</font><font style="font-family:Arial; font-size:11pt; font-weight:bold">, 2013</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:18pt; font-weight:bold">Compressco </font><font style="font-family:Arial; font-size:18pt; font-weight:bold">Partners, L.P.</font></p>
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            <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:10pt">(Exact name of registrant as specified in its charter)</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:10pt">of incorporation)</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:10pt">Identification No.)</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:11pt; font-weight:bold">101 Park Avenue, Suite 1200</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:11pt; font-weight:bold">Oklahoma </font><font style="font-family:Arial; font-size:11pt; font-weight:bold">City, Oklahoma 73102</font></p>
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                        <p style="margin:0pt; text-align:center"><font style="font-family:Arial; font-size:10pt">Registrant&#8217;s telephone number, including area code:</font><font style="font-family:Arial; font-size:11pt; font-weight:bold"> (405) 677-0221</font></p>
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            <p style="margin:0pt; text-align:justify"><font style="font-family:Arial; font-size:10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the </font><font style="font-family:Arial; font-size:10pt">filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>
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            <p style="margin:0pt 0pt 4pt"><font style="font-family:Arial; font-size:9pt">[&#160; ] Written communications pursuant to Rule 425 under the Securities Act (17 </font><font style="font-family:Arial; font-size:9pt">CFR</font><font style="font-family:Arial; font-size:9pt"> 230.425)</font></p>
            <p style="margin:0pt 0pt 4pt"><font style="font-family:Arial; font-size:9pt">[&#160; ] Soliciting material pursuant to Rule 14a-12 und</font><font style="font-family:Arial; font-size:9pt">er the Exchange Act (17 </font><font style="font-family:Arial; font-size:9pt">CFR</font><font style="font-family:Arial; font-size:9pt"> 240.14a-12)</font></p>
            <p style="margin:0pt 0pt 4pt"><font style="font-family:Arial; font-size:9pt">[&#160; ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 </font><font style="font-family:Arial; font-size:9pt">CFR</font><font style="font-family:Arial; font-size:9pt"> 240.14d-2(b))</font></p>
            <p style="margin:0pt 0pt 4pt"><font style="font-family:Arial; font-size:9pt">[&#160; ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 </font><font style="font-family:Arial; font-size:9pt">CFR</font><font style="font-family:Arial; font-size:9pt"> 240.13e-4(c))</font></p>
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            <p style="margin:0pt"><a name="_DMBM_1884"></a><a name="EDGAR_PAGE_START2"></a><font style="font-family:Arial; font-size:10pt; font-weight:bold">It</font><font style="font-family:Arial; font-size:10pt; font-weight:bold">em 2.03 Creation of a Direct Financial Obligation </font></p>
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            <p style="margin:0pt; text-indent:36pt"><font style="font-family:Arial; font-size:10pt">On March 25, 2013, Compressco Partners, L.P. (</font><font style="font-family:Arial; font-size:10pt">the &quot;Partnership&quot;) drew</font><font style="font-family:Arial; font-size:10pt"> down a total </font><font style="font-family:Arial; font-size:10pt">of $</font><font style="font-family:Arial; font-size:10pt">4.25 </font><font style="font-family:Arial; font-size:10pt">million</font><font style="font-family:Arial; font-size:10pt"> on its revolving credit facility under the Credit Agreement with JPMorgan Chase Bank, N.A. See below for a further discussion of the Partnership&#8217;s revolving credit facility. The Partnership intends to use these proceeds to fund its ongoing capital expendi</font><font style="font-family:Arial; font-size:10pt">tures related to the expansion of its Domestic and Canadian fleet of compressor units and other equipment as a result of increased demand. Subsequent to the borrowing, the Partnership had $14.3 million outstanding under the credit facility.</font></p>
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            <p style="margin:0pt; text-indent:36pt"><font style="font-family:Arial; font-size:10pt">As previously </font><font style="font-family:Arial; font-size:10pt">disclosed, o</font><font style="font-family:Arial; font-size:10pt">n June 24, 2011, </font><font style="font-family:Arial; font-size:10pt">the Partnership </font><font style="font-family:Arial; font-size:10pt">entered into </font><font style="font-family:Arial; font-size:10pt">the Credit Agreement establishing </font><font style="font-family:Arial; font-size:10pt">a $20.0 million revolving credit facility agreement with JPMorgan Chase Bank, N.A. The borrowers under the revolving credit facility are the Partnership, Compressco</font><font style="font-family:Arial; font-size:10pt"> Partners Operating, LLC and Compressco Partners Sub, Inc., each a wholly owned subsidiary of the Partnership. </font><font style="font-family:Arial; font-size:10pt">The Partnership and certain of its subsidiaries  entered into a First Amendment to Credit Agreement (the &ldquo;Amendment&rdquo;) with  JPMorgan Chase Bank N.A., dated as of December 4, 2012. As amended, the</font><font style="font-family:Arial; font-size:10pt"> revolving credit facility includes borrowing capacity available for letters of credit (at a sublimit of $5.0 mil</font><font style="font-family:Arial; font-size:10pt">lion) and a $20.0 million uncommitted expansion feature</font><font style="font-family:Arial; font-size:10pt">. Amounts borrowed under the revolving credit facility, including the advance reported above, are due and payable, together with all unpaid interest, fees and other obligations, on June 24, 2015, or ea</font><font style="font-family:Arial; font-size:10pt">rlier upon early repayment by the Partnership or exercise by the lender of its rights under the revolving credit facility.</font></p>
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            <p style="margin:0pt; text-indent:36pt"><font style="font-family:Arial; font-size:10pt">The $14.3 million of borrowings under the revolving credit facility will bear interest at an initial weighted average rate </font><font style="font-family:Arial; font-size:10pt">of 2.5</font><font style="font-family:Arial; font-size:10pt">625</font><font style="font-family:Arial; font-size:10pt">%</font><font style="font-family:Arial; font-size:10pt"> per annum</font><font style="font-family:Arial; font-size:10pt">. Generally, b</font><font style="font-family:Arial; font-size:10pt">orrowings under the Partnership&#8217;s revolving credit facility bear interest at a rate per annum equal to, at the Partnership&#8217;s option, either (a) </font><font style="font-family:Arial; font-size:10pt">British Bankers Association </font><font style="font-family:Arial; font-size:10pt">LIBOR (adjusted to reflect any required bank reserves) for </font><font style="font-family:Arial; font-size:10pt">an interest period equal to one, two, three or six months (as selected by</font><font style="font-family:Arial; font-size:10pt"> the Partnership</font><font style="font-family:Arial; font-size:10pt">) plus a margin of 2.25% per annum or (b) a base rate determined by reference to the highest of (1) the prime rate of interest announced from time to time by JPMorgan </font><font style="font-family:Arial; font-size:10pt">Chase Bank, N.A. or (2) </font><font style="font-family:Arial; font-size:10pt">British Bankers Association </font><font style="font-family:Arial; font-size:10pt">LIBOR (adjusted to reflect any required bank reserves) for a one-month interest period on such day plus 2.50% per annum. In addition to paying interest on outstanding principal under the Partnership&#8217;s rev</font><font style="font-family:Arial; font-size:10pt">olving credit facility, the Partnership is required to pay a commitment fee, in respect of the unutilized commitments thereunder, of 0.425% per annum, paid quarterly in arrears. The Partnership is also required to pay customary collateral monitoring fees a</font><font style="font-family:Arial; font-size:10pt">nd letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees. </font></p>
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            <p style="margin:0pt; text-indent:36pt"><font style="font-family:Arial; font-size:10pt">The foregoing description of the Credit Agreement, as amended, is qualified in its entirety by reference </font><font style="font-family:Arial; font-size:10pt">to (</font><font style="font-family:Arial; font-size:10pt">i</font><font style="font-family:Arial; font-size:10pt">) the full text of the Credit Agreement, a copy of which was attached as Exhibit 10.1 to the Form 8-K filed with the Securities and Exchange Commission on June 24, 2011, and incorporated by reference into this Item 2.03, and (ii) the Amendment, a copy</font><font style="font-family:Arial; font-size:10pt"> of which was attached as Exhibit 10.1 to the Form 8-K filed with the Securities and Exchange Commission on </font><font style="font-family:Arial; font-size:10pt">December 5, 2012</font><font style="font-family:Arial; font-size:10pt">, and incorporated by reference into this Item 2.03.</font></p>
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            <h5 style="margin:10pt 0pt 0pt; text-align:center; page-break-inside:avoid; page-break-after:avoid; font-weight:normal">&nbsp;</h5>
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    <p style="margin:0pt; text-indent:36pt"><font style="font-family:Arial; font-size:10pt">Pursuant to the requirements of the Securities Exchange Act o</font><font style="font-family:Arial; font-size:10pt">f 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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                        <p style="margin:0pt"><font style="font-family:Arial; font-size:10pt; font-weight:bold">Compressco Partners, L.P.</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:10pt">By:</font></p>
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                        <p style="margin:0pt"><font style="font-family:Arial; font-size:10pt">Compressco Partners GP Inc.,</font></p>
                        <p style="margin:0pt"><font style="font-family:Arial; font-size:10pt">&#160; its general partner</font></p>
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                        <p style="margin:0pt; text-align:right"><font style="font-family:Arial; font-size:10pt">By:</font></p>
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                        <p style="margin:0pt; text-align:justify"><font style="font-family:Arial; font-size:10pt">/s/Ronald J. Foster</font></p>
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                        <p style="margin:0pt; text-align:justify"><font style="font-family:Arial; font-size:10pt">Ronald J. Foster</font></p>
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                        <p style="margin:0pt; text-align:justify"><font style="font-family:Arial; font-size:10pt">President</font></p>
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                        <p style="margin:0pt; text-align:justify"><font style="font-family:Arial; font-size:10pt">Date: </font><font style="font-family:Arial; font-size:10pt">March 28, </font><font style="font-family:Arial; font-size:10pt">2013</font></p>
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[{"type": "8-K", "sequence": "1", "filename": "gsjk8k-20130328.htm", "description": "FORM 8-K", "secsgml_size_bytes": 25823}]
{"company-data": {"conformed-name": "Compressco Partners, L.P.", "cik": "0001449488", "assigned-sic": "1389", "irs-number": "943450907", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35195", "film-number": "13724155"}, "business-address": {"street1": "101 PARK AVENUE, SUITE 1200", "city": "OKLAHOMA CITY", "state": "OK", "zip": "73102", "phone": "405-677-0221"}, "mail-address": {"street1": "101 PARK AVENUE, SUITE 1200", "city": "OKLAHOMA CITY", "state": "OK", "zip": "73102"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported):
March
25
, 2013
Compressco
Partners, L.P.
(Exact name of registrant as specified in its charter)
Delaware
1-35195
94-3450907
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
101 Park Avenue, Suite 1200
Oklahoma
City, Oklahoma 73102
(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code:
(405) 677-0221
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[  ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[  ] Soliciting material pursuant to Rule 14a-12 und
er the Exchange Act (17
CFR
240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
It
em 2.03 Creation of a Direct Financial Obligation
On March 25, 2013, Compressco Partners, L.P. (
the "Partnership") drew
down a total
of $
4.25
million
on its revolving credit facility under the Credit Agreement with JPMorgan Chase Bank, N.A. See below for a further discussion of the Partnership's revolving credit facility. The Partnership intends to use these proceeds to fund its ongoing capital expendi
tures related to the expansion of its Domestic and Canadian fleet of compressor units and other equipment as a result of increased demand. Subsequent to the borrowing, the Partnership had $14.3 million outstanding under the credit facility.
As previously
disclosed, o
n June 24, 2011,
the Partnership
entered into
the Credit Agreement establishing
a $20.0 million revolving credit facility agreement with JPMorgan Chase Bank, N.A. The borrowers under the revolving credit facility are the Partnership, Compressco
Partners Operating, LLC and Compressco Partners Sub, Inc., each a wholly owned subsidiary of the Partnership.
The Partnership and certain of its subsidiaries  entered into a First Amendment to Credit Agreement (the "Amendment") with  JPMorgan Chase Bank N.A., dated as of December 4, 2012. As amended, the
revolving credit facility includes borrowing capacity available for letters of credit (at a sublimit of $5.0 mil
lion) and a $20.0 million uncommitted expansion feature
. Amounts borrowed under the revolving credit facility, including the advance reported above, are due and payable, together with all unpaid interest, fees and other obligations, on June 24, 2015, or ea
rlier upon early repayment by the Partnership or exercise by the lender of its rights under the revolving credit facility.
The $14.3 million of borrowings under the revolving credit facility will bear interest at an initial weighted average rate
of 2.5
625
%
per annum
. Generally, b
orrowings under the Partnership's revolving credit facility bear interest at a rate per annum equal to, at the Partnership's option, either (a)
British Bankers Association
LIBOR (adjusted to reflect any required bank reserves) for
an interest period equal to one, two, three or six months (as selected by
the Partnership
) plus a margin of 2.25% per annum or (b) a base rate determined by reference to the highest of (1) the prime rate of interest announced from time to time by JPMorgan
Chase Bank, N.A. or (2)
British Bankers Association
LIBOR (adjusted to reflect any required bank reserves) for a one-month interest period on such day plus 2.50% per annum. In addition to paying interest on outstanding principal under the Partnership's rev
olving credit facility, the Partnership is required to pay a commitment fee, in respect of the unutilized commitments thereunder, of 0.425% per annum, paid quarterly in arrears. The Partnership is also required to pay customary collateral monitoring fees a
nd letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.
The foregoing description of the Credit Agreement, as amended, is qualified in its entirety by reference
to (
i
) the full text of the Credit Agreement, a copy of which was attached as Exhibit 10.1 to the Form 8-K filed with the Securities and Exchange Commission on June 24, 2011, and incorporated by reference into this Item 2.03, and (ii) the Amendment, a copy
of which was attached as Exhibit 10.1 to the Form 8-K filed with the Securities and Exchange Commission on
December 5, 2012
, and incorporated by reference into this Item 2.03.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act o
f 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Compressco Partners, L.P.
By:
Compressco Partners GP Inc.,
its general partner
By:
/s/Ronald J. Foster
Ronald J. Foster
President
Date:
March 28,
2013
2