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

                                 March 27, 2003
                Date of Report (date of earliest event reported)



                        NATURAL GAS SERVICES GROUP, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)



         Colorado                       1-31398                  75-2811855
----------------------------      ---------------------     --------------------
(State or other jurisdiction      (Commission File No.)      (I.R.S. Employer
        of incorporation)                                    Identification No.)



2911 SCR 1260, Midland, Texas                                       79706
-----------------------------                                 ------------------
(Address of principal executive offices)                          (Zip Code)



                                 (915) 563-3974
                     --------------------------------------
              (Registrant's telephone number, including area code)






ITEM 5.  OTHER EVENTS.

         On March 27, 2003, to be effective  January 1, 2003, NGE Leasing,  Inc.
("NGE"), a wholly-owned subsidiary of Natural Gas Services Group, Inc. ("Natural
Gas"),  purchased and Hy-Bon Engineering Company, Inc. ("Hy-Bon") sold to NGE 28
of Hy-Bon's  compressor  packages.  In consideration  therefor,  NGE paid Hy-Bon
$2,150,000.00.  The  $2,150,000.00  was borrowed by Natural Gas from its current
lender.

         By the end of May  2003,  Hy-Bon  will  withdraw  as a member of Hy-Bon
Rotary Compression,  L.L.C.  effective as of January 1, 2003. In connection with
its withdrawal,  Hy-Bon will receive $67,144.11 from Hy-Bon Rotary  Compression,
L.L.C.  NGE, as the other  member of Hy-Bon  Rotary  Compression,  L.L.C.,  will
retain all assets of Hy-Bon Rotary Compression,  L.L.C. which as of December 31,
2002, had an unaudited  aggregate  value of  $346,511.04.  NGE plans to dissolve
Hy-Bon Rotary  Compression,  L.L.C.  and NGE has agreed to not operate under the
name Hy-Bon.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

(a)      Financial Statements

         None

(b)      Pro Forma Financial Information

         None

(c)      Exhibits

         2.1      Purchase and Sale Agreement by and between Hy-Bon  Engineering
                  Company, Inc. and NGE Leasing, Inc. (incorporated by reference
                  to Exhibit 2.1 to the Natural Gas Services Group, Inc. Current
                  Report on Form 8-K dated February 28, 2003)


         10.1     First Amended and Restated Loan Agreement  between Natural Gas
                  Services  Group,  Inc. and Western  National  Bank  (excluding
                  Exhibit C - Notice of  Borrowings;  Exhibit D - Borrowing Base
                  Report;  Exhibit  E -  Stock  Pledge  Agreement;  Exhibit  F -
                  Security  Agreements;   Exhibit  G  -  Officer's  Certificate;
                  Exhibit  H  -  Guaranty  Agreements;  Exhibit  J  -  Officer's
                  Certificate;  Exhibit K - Compliance Certificate;  Exhibit L -
                  Consolidated   Current   Ratio   Calculation;   Exhibit   M  -
                  Consolidated Tangible Net Worth Calculation;  Exhibit N - Debt
                  Service  Ratio;  Exhibit  O - Ratio  of  Consolidated  Debt to
                  Consolidated Tangible Net Worth)







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                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated:  April 11, 2003                          NATURAL GAS SERVICES GROUP, INC.



                                                By: /s/ Wayne L. Vinson
                                                   -----------------------------
                                                   Wayne L. Vinson
                                                   President

























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