THE
WOODLANDS, Texas, Aug. 8, 2022
/PRNewswire/ -- TETRA Technologies, Inc. ("TETRA" or the "Company")
(NYSE:TTI) announced that it has entered into exclusive technology
licensing agreements with KMX Technologies LLC ("KMX") and Hyrec
Holdings Company W.L.L. ("Hyrec") for the recycling of
produced water for the purpose of beneficial reuse, including such
applications as agricultural and crop irrigation, industrial, power
generation, construction, groundwater recharge, cooling towers and
dust control. TETRA is a leader in the treatment and recycling of
produced water from oil and gas wells for reuse in hydraulic
fracturing.
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TETRA CEO Brady Murphy said,
"With increasing water volumes required for unconventional
completions and increased seismicity events in key sub-surface
disposal locations, advanced water recycling solutions for
beneficial reuse are a critical industry need. According to Rystad
Energy Research, the U.S. will produce close to 23 billion barrels
of water from producing oil and gas wells in 2022 with nearly 13
billion barrels being disposed of in saltwater disposal wells
(SWDs). Our strategic relationships with KMX and Hyrec will allow
us to create new, sustainable markets for produced water, reduce
the industry's reliance on disposal and preserve precious fresh
water resources.
"Produced water in the U.S. has a very wide range of Total
Dissolved Solids (TDS) and mineral compositions and we are pleased
to see the regulatory agencies continuing to make progress on
defining allowable discharge limits. Delineating the market
and providing a cost-effective solution between the very high TDS
levels such as those found in the Permian Basin from those with
mid-to-low TDS levels, is the best way to effectively address the
total market.
"For very high produced water TDS levels, we have found the KMX
vacuum membrane distillation technology to be best in class for
cost effective treatment to beneficial reuse water. At the
mid-to-lower TDS levels, we have found the Hyrec reverse osmosis
technology to be similarly best in class for cost effectiveness,
desirable water quality and volumes. These solutions along with our
extensive water and flowback services will allow us to meet the
growing challenges that oil and gas operators are facing with
consuming fresh water and injecting produced water into saltwater
disposal wells. Although these exclusive license agreements
are specific to oil and gas produced water beneficial reuse, we
believe both KMX and HYREC technologies could also be effective for
our planned lithium extraction and production process in
Arkansas.
"Last year we recycled over a billion gallons of produced water
for frac reuse while in parallel investing heavily in R&D
efforts, including third party technologies, to develop
economically viable alternatives to disposal. We are very excited
to introduce these innovative technologies, which we believe can
make a material impact for the oil and gas industry by preserving
fresh water as well as expanding beneficial reuse applications to
other markets."
Company Overview
TETRA Technologies, Inc. is an industrial and oil & gas
products and services company operating on six continents focused
on bromine-based completion fluids, calcium chloride, water
management solutions, frac flowback and production well testing
services. Calcium chloride is used in the oil and gas, and also has
broad industrial applications in addition to the agricultural,
road, food, beverage markets and lithium production markets. TETRA
is evolving its business model by expanding into the low carbon
energy markets with its chemistry expertise, key mineral acreage
and global infrastructure. Recently announced initiatives include
commercialization of TETRA PureFlow® an ultra-pure zinc
bromide for stationary batteries and energy storage; advancing an
innovative carbon capture utilization and storage technology with
CarbonFree to capture CO2 and mineralize emissions to make
commercial, carbon-negative chemicals; and development of TETRA's
lithium and bromine mineral acreage to meet the growing demand for
oil and gas products and energy storage. Visit the Company's
website at www.tetratec.com.
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 the Company intends to be
included within the safe harbor protections provided by the federal
securities laws. These forward-looking statements include
statements concerning economic and operating conditions that are
outside of our control, including statements concerning recovery of
the oil and gas industry; customer delays for international
completion fluids related to global shipping and logistics issues;
potential revenue associated with prospective energy storage
projects or our pending carbon capture partnership; exploration
targets of lithium and bromine, the potential extraction of lithium
and bromine from the leased acreage, the economic viability
thereof, and the timing and costs of such activities; the ability
to obtain an inferred resource report and preliminary economic
assessment regarding our lithium and bromine acreage; statements
regarding debt reduction, projections concerning the Company's
business activities, financial guidance, estimated earnings,
earnings per share, and statements regarding the Company'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 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 or results 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 "Risk
Factors" contained in the Company's Annual Reports on Form 10-K, as
well as other risks identified from time to time in its reports on
Form 10-Q and Form 8-K filed with the Securities and Exchange
Commission.
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SOURCE TETRA Technologies, Inc.