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Business Overview:
TETRA Technologies (NYSE:TTI) is an oil and gas services company and provider of calcium chloride and bromide products to the industrial market. TTI has three business segments as follows:
Completion Fluids & Products - Manufactures and markets clear brine fluids, additives, and associated products and services for use in completions, well drilling and workover operations. Liquid calcium chloride, calcium bromide, zinc bromide, zinc calcium bromide, sodium bromide, and blends of such products are referred to as clear brine fluids (CBFs). CBFs are solutions that have variable densities and are used to control bottom-hole pressures during oil and gas completion and workover operations. CBF services, include on-site fluids filtration, handling, and recycling; wellbore cleanup; custom fluids blending; and fluid management services. Importantly, TTI also markets calcium chloride products to markets outside the energy industry (additive in plastics, products for wastewater treatment, flame retardants, products used as a de-icer, road handling and dust control, food additives, etc.).
Water & Flowback Services – A key to the completion stage of an oil and gas well is hydraulic fracturing, which requires large quantities of water. TTI provides onshore oil and gas operators with comprehensive water management services. These services include water analysis, treatment, and recycling, blending and distribution, storage and pit lining, transfer, engineering, and environmental risk mitigation. Ten to fifty percent of the water returns as flowback during the first several weeks following the hydraulic fracturing process, and a large percentage of the remainder, as well as pre-existing water in the formation, returns to the surface as produced water over the life of the well. Both the flowback and produced water must be
