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TETRA Technologies, Inc. (NYSE: TTI) is a highly diversified global energy services company headquartered in The Woodlands, Texas. With operations spanning across six continents, TETRA specializes in delivering comprehensive solutions in the oil and gas industry. The company's core expertise lies in completion fluids and associated products, water management, frac flowback, production well testing, and offshore rig cooling. TETRA is also recognized as the world's largest vertically integrated producer, marketer, and distributor of calcium chloride, essential for both its completion fluids business and a variety of other industrial applications.
TETRA's operations are divided into two main segments: Completion Fluids & Products and Water & Flowback Services. The Completion Fluids & Products Division is responsible for manufacturing and marketing clear brine fluids, additives, and other related products. Conversely, the Water & Flowback Services Division provides onshore oil and gas operators with comprehensive water management services, ensuring optimal performance and environmental compliance.
In recent news, TETRA achieved significant milestones. The company reported strong financial performance in the third quarter of 2023, with year-on-year revenue growth of 12% and a 40% rise in adjusted EBITDA. A landmark achievement was the approval from the Arkansas Oil & Gas Commission for a joint brine unit application, enabling TETRA and its partner to develop and produce bromine and lithium from over 6,138 acres. This development aligns with TETRA's strategic expansion into low-carbon energy markets, leveraging its expertise in chemistry and infrastructure to meet the growing demand for sustainable energy solutions.
Financially, TETRA continues to demonstrate robust performance. The company's net income before discontinued operations saw substantial growth, with year-on-year increases and a significant rise in adjusted EBITDA. The latest financial results reflect the company's commitment to operational excellence and strategic growth initiatives.
TETRA's innovative approach includes the commercialization of TETRA PureFlow®, an ultra-pure zinc bromide clear brine fluid designed for stationary batteries and energy storage. The company is also advancing carbon capture utilization and storage technologies in partnership with CarbonFree, aiming to capture CO2 and create commercial, carbon-negative chemicals. Additionally, TETRA is focusing on the development of its lithium and bromine mineral assets, which are crucial for both the oil and gas industries and energy storage solutions.
The company's recent refinancing agreement with Silver Point Finance, securing a $265 million credit facility, underscores its strong financial position and ability to fund future growth projects. This facility will support TETRA's ongoing Arkansas bromine processing project, further solidifying its market leadership.
Overall, TETRA Technologies, Inc. stands out for its comprehensive service offerings, strategic initiatives in low-carbon energy, and strong financial health, positioning it as a key player in the global energy services market.
CSI Compressco LP (NASDAQ: CCLP) has declared a cash distribution of $0.01 per common unit for the quarter ended March 31, 2023, amounting to an annualized rate of $0.04. The distribution will be paid on May 15, 2023 to unitholders of record as of April 30, 2023. Additionally, the company is set to release its first-quarter 2023 results on May 4, 2023, before market opening. A conference call to discuss the results will occur at 10:30 a.m. ET the same day. CSI Compressco provides a variety of compression services and equipment vital for natural gas and oil production and operates a fleet of approximately 4,800 compressor packages with 1.2 million aggregate horsepower.
TETRA Technologies, Inc. (NYSE: TTI) has announced it will release its first quarter 2023 results after market close on May 1, 2023. A conference call will be held on May 2, 2023, at 10:30 a.m. ET, featuring President and CEO Brady Murphy and CFO Elijio Serrano. The call can be accessed via a toll-free number or through a live audio webcast. TETRA specializes in energy services and solutions across six continents, focusing on various markets including oil and gas, agriculture, and road services. The company is expanding into low carbon energy markets, emphasizing initiatives like TETRA PureFlow® for energy storage and carbon capture technologies. Investors can find additional information on the company’s website.
TETRA Technologies, Inc. (NYSE:TTI) will be hosting a business update on March 14, 2023 at 1:00 p.m. Central Time. The session, led by Tim Moore from EF Hutton, will feature key executives including President Brady Murphy and CFO Elijio Serrano. They will discuss strategic initiatives and engage in a moderated Q&A. TETRA specializes in energy services across six continents, focusing on products like bromine-based fluids and calcium chloride, while evolving towards low carbon energy solutions. More information can be found on their website.
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