RTTNews | Oct 4, 2021 07:13AM EDT

07:12 Monday, October 4, 2021 (RTTNews.com) - Natural Gas Services Group, Inc. (NGS) on Monday said its Board has authorized share buyback of up to $10 million of its common shares.

The latest buyback replaces the one that expired on September 30, 2021, under which the company had bought back shares for $5 million.

"The continuation of our repurchase program provides Natural Gas Services Group with an important tool in allocating capital and demonstrates the Board's confidence in our current and future prospects," said Stephen C. Taylor, Chairman, President and Chief Executive Officer of Natural Gas Services Group, Inc.

As of September 30, 2021, the company had about 13 million common shares outstanding.

The repurchase program is expected to expire on September 30, 2022.

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