TETRA Technologies, Inc. Announces Completion of Renovations to Galveston Deepwater Clear Brine Fluids Facility
THE WOODLANDS, Texas--(Business Wire)-- TETRA Technologies, Inc. (TETRA or the Company) (NYSE:TTI) has completed an extensive renovation of its Galveston, Texas clear brine fluids (CBF) facility. The Galveston facility has been redesigned to better facilitate current and upcoming deep and ultra-deepwater projects under contract with the Company`s Fluids Division. Upon completion of the renovations, the Galveston facility became the second largest CBF blending operation servicing the Gulf of Mexico; only the TETRA deepwater facility in Fourchon, Louisiana is larger. The redesign of the Galveston facility resulted in a 35% increase in CBF blending capacity and an increase in overall storage capacity of more than 80%. Renovations to the facility were specifically designed to support deep and ultra-deepwater projects, giving the Fluids Division the ability to pre-blend up to 9,000 barrels of CBFs. These improvements will benefit the Division`s customers by providing them with the fastest turnaround in the CBF blending industry, thereby reducing reliance on contracted transportation vessels and eliminating lost rig time. TETRA`s commitment to providing a safe operating environment for its employees and contractors was reflected by the exemplary safety performance of the Galveston project team. The facility remained fully operational throughout the project, providing an uninterrupted supply of CBFs and related products and services to the Fluids Division`s customers. TETRA is an oil and gas services company with an integrated calcium chloride and brominated products manufacturing operation that supplies feedstocks to energy markets, as well as other markets. This press release includes certain statements that are deemed to be forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performances and that actual results or developments may differ materially from those projected in the forward-looking statements. Some of the factors that could affect actual results are described in the section titled "Certain Business Risks" contained in the Company`s Annual Report on Form 10-K for the year ended December 31, 2008. TETRA Technologies, Inc., The Woodlands Stuart M. Brightman, 281-367-1983 Fax: 281-364-4346 www.tetratec.com Copyright Business Wire 2009
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