SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

CHILDERS D BRADLEY

(Last)

(First)

(Middle)

4444 BRITTMOORE ROAD

(Street)

HOUSTON

77041

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/20/2007

3. Issuer Name and Ticker or Trading Symbol
EXTERRAN HOLDINGS INC. [ EXH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. VP - Corporate Development

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Unit Appreciation Right⁽¹⁾	01/01/2009	03/15/2010	Common Units	42,857⁽²⁾	$0	D

Explanation of Responses:

1. The derivative securities reported herein as beneficially owned were originally issued by Universal Compression Holdings, Inc. ("Predecessor"). On August 20, 2007, Predecessor merged into a wholly owned subsidiary of Exterran Holdings, Inc. ("Issuer") pursuant to the Agreement and Plan of Merger, dated as of February 5, 2007, as amended on June 25, 2007, by and among Predecessor, Issuer, Hanover Compressor Company, Ulysses Sub, Inc. and Hector Sub, Inc. The terms of the securities reported herein did not change as a result of that transaction.

2. The unit appreciation right is exercisable for cash only. Upon exercise of the unit appreciation right, the recipient is entitled to receive cash equal to the excess of the fair market value of a common unit of Exterran Partners, L.P. on the date of exercise over the exercise price of that unit appreciation right.

	Donald C. Wayne, Attorney in Fact for D. Bradley Childers	08/22/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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