THE
WOODLANDS, Texas, Dec. 16,
2024 /PRNewswire/ -- TETRA Technologies, Inc.
("TETRA" or the "Company") (NYSE:TTI) today announced the
commercial launch of TETRA Oasis TDS, an end-to-end water treatment
and desalination technology for beneficial re-use and mineral
extraction applications for oil and gas well produced
water.
TETRA also recently completed a commercial pilot project for the
desalination of Delaware Basin
produced water for a major North
America oil and gas operator. The desalinated water was
tested against published Texas Railroad Commission ("TRRC")
standards for beneficial re-use water at both TETRA's laboratory
and an independent third-party laboratory. Subsequently, the
treated water was sent to a third party for Whole Effluent Toxicity
("WET") testing where it successfully passed all test
parameters. WET testing is a method used to
measure the combined toxic effects of all pollutants on aquatic
organisms and involves exposing aquatic organisms to treated
wastewater samples and observing how the organisms
respond. The tests can be acute or chronic and measure
different aspects of the organisms' health. WET testing is a vital
component to implementing water quality standards under the
National Pollutant Discharge Elimination System ("NPDES") permits
program.
Brady Murphy, TETRA's President
and Chief Executive Officer said, "For several years we have been
working to leverage our deep brine chemistry expertise, our US
onshore water treatment resources, and our customer network and
relationships to address the sizeable industry challenge
surrounding treatment of oil and gas produced water for beneficial
re-use purposes. By combining our existing expertise in produced
water recycling for frac re-use to pre-treat the feed water for two
unique membrane technologies, we have developed a high-quality,
cost-effective solution.
Our first field pilot program successfully treated produced
water where we achieved 92% recovery rate of desalinated water with
total dissolved solids levels ranging from 40 parts per million
("ppm") to 200 ppm, which are better than the average municipal
drinking water standards. In our latest pilot test of more
challenging Delaware Basin
produced water, we are very pleased to announce that our TETRA
Oasis TDS resulted in high-quality desalinated water that not only
met or exceeded all customer KPIs but passed all third-party WET
testing. Given the importance of WET testing standards for
the regulatory agencies, we believe this is an important step for
future beneficial re-use project permitting. This is a
rapidly evolving market, and the need for cost effective technology
to address produced water volumes continues to grow.
TETRA see significant opportunity in the space and continue to
engage high quality customers to address their water challenges and
disposal restrictions due to seismicity events with seven NDA's in
place and ongoing negotiations with others to discuss the
proprietary details of our TETRA Oasis TDS."
Despite U.S. land oil and gas well frac and completion activity
declining throughout 2024, produced water volumes continue to
increase. Rystad Energy estimates Permian Basin produced water
volumes of 8.3 billion barrels in 2024, up 5% from 2023. In
Rystad Energy's fourth quarter 2024 Water Management report, they
estimate that a 20% reduction in Permian Basin disposal well
capacity due to regulatory restrictions would result in up to 4
million barrels of produced water per day as the available market
for beneficial re-use. A recent Houston Chronicle article
referenced a study that the handling and treating of produced water
is a $4 billion annual market
opportunity in the Permian Basin, making this one of the fastest
growing market opportunities in the oil and gas industry.
TETRA Oasis TDS
TETRA Oasis TDS is a proprietary end-to-end offering that
involves a variety of processing stages starting with operator's
oil and gas well produced water as feed brine for a pre-treatment
step. TETRA has developed extensive experience and expertise over
the past six years in the treatment and recycling of produced water
for frac re-use, as demonstrated by having treated in the fourth
quarter, 2024 a record peak volume of over 800,000 bbl/day.
This experience has advanced TETRA's chemistry know-how in
addressing a wide variability of produced water constituents,
including dealing with organic compounds that would otherwise be
destructive to membranes used in other industries to desalinate
water.
The critical pre-treatment first step is followed by the
desalination stage through two technologies licensed exclusively to
TETRA for oil and gas produced water applications, KMX Technologies
Inc., ("KMX") Vacuum Membrane Distillation ("VMD") or Hyrec
Holdings Company W.L.L. ("Hyrec") Osmotically Assisted Reverse
Osmosis ("OARO"), or a combination of both. The selection of which
technology or combination thereof depends, in part, on the total
dissolved solids of the feed water, the end use application, and
optimizing both the capital and operating costs of the process. The
final stage is a post-treatment process designed to meet customer
water specifications and may involve extraction of minerals, which
TETRA's chemical business has been doing for many years, and
potentially significantly improving the economic benefits. TETRA
Oasis TDS was successfully proven in the field to deliver a water
quality that achieves or exceeds regulatory requirements in a
cost-effective manner for multiple beneficial re-use applications,
including potential surface irrigation and industrial uses.
TETRA recently completed an equity investment in KMX
Technologies Inc.
Details on TETRA Oasis TDS can be found on the following website
link:
https://onetetra.com/energy-services/water-management/produced-water-desalination/
Investor Contact
For further information, please contact
Elijio Serrano, CFO, TETRA
Technologies, Inc. at (281) 367-1983 or via email at
eserrano@onetetra.com.
Company Overview
TETRA Technologies, Inc. is an energy services and solutions
company focused on developing environmentally conscious services
and solutions that help make people's lives better. With operations
on six continents, the Company's portfolio consists of Energy
Services, Industrial Chemicals, and Critical Minerals. In addition
to providing products and services to the oil and gas industry and
calcium chloride for diverse applications, TETRA is expanding into
the low-carbon energy market with chemistry expertise, key mineral
acreage, and global infrastructure, helping to meet the demand for
sustainable energy in the twenty-first century. Visit the Company's
website at www.onetetra.com for more information.
Cautionary Statement Regarding Forward Looking
Statements
This news release includes certain statements that are deemed to
be forward-looking statements. Generally, the use of words such as
"may," "see," "expectation," "expect," "intend," "estimate,"
"projects," "anticipate," "believe," "assume," "could," "should,"
"plans," "targets" or similar expressions that convey the
uncertainty of future events, activities, expectations or outcomes
identify forward-looking statements that TETRA intends to be
included within the safe harbor protections provided by the federal
securities laws. These forward-looking statements include
statements regarding TETRA's beliefs, expectations, plans, goals,
future events and performance, and other statements that are not
purely historical. These forward-looking statements are based on
certain assumptions and analyses made by TETRA 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 TETRA. Factors which may cause actual results
to differ materially from current expectations include, but are not
limited to: changes adversely affecting the business in which we
are engaged; our ability to forecast trends accurately; our ability
to develop efficient water treatment processes to scale and to
forecast related costs and efficiencies accurately; fluctuations in
our revenue and operating results; competition from existing or new
competitors; future relationships between parties; risks associated
with security breaches in our information technology systems; risks
related to legal proceedings or claims; risks associated with
changes in federal, state, or local laws; risks associated with
potential costs of regulatory compliance; risks associated with
changes to U.S. trade policies; and risks related to adverse
changes in general economic conditions. Moreover, TETRA operates in
a very competitive and rapidly changing environment, and new risks
and uncertainties may emerge that could have an impact on the
forward-looking statements contained in this press release.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, TETRA assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. The forward-looking statements
contained in this press release are also subject to additional
risks, uncertainties, and factors, including those more fully
described in TETRA's most recent filings with the Securities and
Exchange Commission, including TETRA's most recent Annual Report on
Form 10-K and subsequent reports on Forms 10-Q and 8-K.
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SOURCE TETRA Technologies, Inc.