TWIN ENGINED LGT LOSES PWR TO L ENG AFTER HAVING SEVERE COMPRESSOR STALLS. AFTER CONFERRING WITH MAINT AND DISPATCH PIC ELECTS TO DIVERT TO DFW ON REDUCED PWR. FELT THAT WITH PARTIAL PWR HE WAS NOT IN VIOLATION OF THE 'NEAREST SUITABLE ARPT' RULING. MAINT WAS A FACTOR IN CHOICE OF ARPT.

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LEVEL AT FL330 FROM ZIH TO STL; APPROX 1 1/2 HRS INTO FLT; #1 L ENG BEGAN COMPRESSOR STALLING. REDUCED PWR TILL STALLS CEASED. ADVANCED THROTTLE ON L ENG AND COMPRESSOR STALLS RETURNED AT APPROX 1.2 EPR. NOW CONSIDERED ACFT TO BE SINGLE ENG AND ASKED MONTEREY CTR FOR LOWER WITH R ENG AT MAX CRUISE AND L AT IDLE. WE DSNDED TO FL230; THEN TO 17000 FT. WE CONTACTED COMPANY AND DISPATCH DURING THIS TIME FOR COORD. NOW CONSIDERING LNDG AT NEAREST SUITABLE ARPT (MCALLEN; TX). COMPANY ASKED US IF WE COULD MAKE SAT OR HOU. WITH ACFT BASICALLY SINGLE ENG; WE NEEDED TO LAND AT NEAREST SUITABLE ARPT. AGREED TO LAND AT CRP. DECLARED AN EMER AND HEADED FOR CRP. WHILE ENRTE TO CRP WE FOUND COMPRESSOR STALL CHKLIST AND ACCOMPLISHED IT. WE WERE ABLE TO RECOVER L ENG TO 1.5 EPR AND FELT WITH THIS PWR IT WOULD BE SAFE TO DIVERT TO DFW. CONTACTED COMPANY AND DISPATCH AND MAINT. CONTACTED CTR AND NOTIFIED THEM THAT WE HAD RECOVERED SIGNIFICANT ENG PWR ON THE L ENG AND WERE NO LONGER AN EMER; REQUESTED VECTORS TO DFW. APPROX 45 MINS LATER; LANDED AT DFW WITHOUT INCIDENT. CRASH EQUIP STOOD BY EVEN THOUGH WE TOLD THEM WE DIDN'T NEED THEM. WE SECURED L ENG AFTER LNDG.