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Investor Presentation – Tetra Technologies Inc.

Tetra Technologies Inc. · Nov 30, 2013 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Investor Presentation – Tetra Technologies Inc. – slide 1
    TETRA Technologies Inc. November 2013
  2. Investor Presentation – Tetra Technologies Inc. – slide 2
    Corporate Profiles COMPANY OVERVIEW Stock Market NYSE: TTI NASDAQ: GSJK Recent Share Price(1) 12.29 21.62 Market Capitalization(1) 971M 337M Enterprise Value(1) 1,299M 3626M Number of Shares/ 77.9M 15.6M Units…
  3. Investor Presentation – Tetra Technologies Inc. – slide 3
    Business Segments COMPANY OVERVIEW FLUIDS SERVICES PRODUCTION COMPRESSCO OFFSHORE MARITECH TESTING SERVICES Targeting to The only vertically TETRA is the largest Maximizing mature A leading provider of complete the integrated…
  4. Investor Presentation – Tetra Technologies Inc. – slide 4
    Broad Service Offering With Competitive Differentiators Life of Well 5
  5. Investor Presentation – Tetra Technologies Inc. – slide 5
    Key Market Drivers COMPANY OVERVIEW 50 GoM Working Floaters(1) 1,600 US Unconventional Rig Count(1) 90% 45 1,400 80% 40 1,200 70% 35 60% 1,000 50% 30 800 40% 25 600 30% 20 400 20% 15 200 10% 10 0 0% 5 2000A 2002A…
  6. Investor Presentation – Tetra Technologies Inc. – slide 6
    TETRA is well positioned to leverage synergies and provide services through a global infrastructure 7
  7. Investor Presentation – Tetra Technologies Inc. – slide 7
    TETRAs Transformation Recent Investments into Focus Areas Divestiture of Maritech ( millions) International expansion and significant capital investment to 350 expand Production Testing 300 250 122 162M of Production Testing…
  8. Investor Presentation – Tetra Technologies Inc. – slide 8
    TETRA is Evolving EVOLUTION AND STRATEGY TETRA is a pure play oilfield services company following the divestiture of Maritech 2009 Revenue (1) Oilfield Services vs E&P Revenue(1) ( millions) Compressco 10% 1,100 Production…
  9. Investor Presentation – Tetra Technologies Inc. – slide 9
    Global Footprint, Growing International Presence COMPANY OVERVIEW 2012 Revenue Mix excl. Offshore Services Intl. 38% US 62% 30% International revenue growth from 2011 to 2012 excluding Offshore Services 10
  10. Investor Presentation – Tetra Technologies Inc. – slide 10
    Developing Synergies EVOLUTION AND STRATEGY TETRA has evolved into a harmonized infrastructure with multiple service offerings Successfully cross selling services Leveraging local nationals in management to enhance customer…
  11. Investor Presentation – Tetra Technologies Inc. – slide 11
    Strategic Evolution 2009: 0.93 Billion(1) Short Term Tactical Right sized Offshore Services and G&A Fluids, PT Complete Maritech decommissioning and Compressco Accelerate growth in Frac water management 43% Offshore Services…
  12. Investor Presentation – Tetra Technologies Inc. – slide 12
    Leveraging the value of the integrated business units and service offerings to the oilfield and other industries
  13. Investor Presentation – Tetra Technologies Inc. – slide 13
    Fluids Services FLUIDS SERVICES Completion Fluids Only vertically integrated cost effective solutions provider of high-end clear brine fluids (CBFs) - Manufacturer of calcium bromide, zinc bromide and calcium chloride - Long-term…
  14. Investor Presentation – Tetra Technologies Inc. – slide 14
    Fluids Services Financial Overview FLUIDS SERVICES Revenue ( millions) EBITDA ( millions) and Margin(1) 25% 25% 400 384 21% 100 17% 20% 350 335 80 16% 94 305 15% 60 70 300 276 52 10% 40 44 250 20 5% 200 0 0% 2010 2011…
  15. Investor Presentation – Tetra Technologies Inc. – slide 15
    Production Testing PRODUCTION TESTING Flow back pressure and volume testing provides data to optimize production and minimize reservoir damage Production Testing used to access newly available production and extend productive life…
  16. Investor Presentation – Tetra Technologies Inc. – slide 16
    Production Testing Financial Overview PRODUCTION TESTING Revenue ( millions) EBITDA ( millions) and Margin (1) 350 90 36% 40% 80 35% 31% 250 70 28% 213 24% 30% 208 60 64 25% 140 50 150 104 50 20% 40 51 15% 30 20 30 10%…
  17. Investor Presentation – Tetra Technologies Inc. – slide 17
    Compressco COMPRESSCO TETRAs publicly traded MLP with TETRA holding Example Production Volume the general partner IDR rights Well Decline Curve Enhances production of mature dry gas and liquid loaded gas wells with low formation…
  18. Investor Presentation – Tetra Technologies Inc. – slide 18
    Compressco Financial Overview COMPRESSCO Revenue ( millions) EBITDA ( millions) and Margin 150 38% 50 40% 33% 121 30% 125 30% 109 40 30% 96 100 37 81 30 36 31 20% 75 29 20 50 10% 10 25 0 0% 2010 2011 2012 2013* 2010…
  19. Investor Presentation – Tetra Technologies Inc. – slide 19
    Compresscos Distribution Trend FINANCIAL OVERVIEW Quarterly Distribution (Annualized) TETRA is the holder of 83% of the outstanding units of Compressco 1.75 1.72 1.70 1.70 1.68 Additionally TETRA, as the general 1.65 partner, is…
  20. Investor Presentation – Tetra Technologies Inc. – slide 20
    Offshore Services OFFSHORE SERVICES A leading GoM provider of decommissioning and well abandonment services - Largest provider of heavy lift platform removals with two derrick barges, including the newly built 1,700-T TETRA…
  21. Investor Presentation – Tetra Technologies Inc. – slide 21
    Offshore Services Financial Overview OFFSHORE SERVICES Revenue ( millions) EBITDA ( millions) and Margin (1) 350 60 20% 287 18% 300 274 266 16% 18% 250 50 15% 13% 16% 250 40 45 14% 200 42 12% 30 41 10% 150 38 8% 100 20 6%…
  22. Investor Presentation – Tetra Technologies Inc. – slide 22
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  23. Investor Presentation – Tetra Technologies Inc. – slide 23
    Tactical Initiatives FINANCIAL OVERVIEW Strong focus on cost controls: - Implemented Offshore Services cost reductions of 19 million - Initiated company-wide G&A cost reductions of 16.5 million - Repositioning Production Testing…
  24. Investor Presentation – Tetra Technologies Inc. – slide 24
    2013 Segment TTM FINANCIAL OVERVIEW Trailing Twelve Months (9/30/2013) millions Revenue Operating Income Operating Margin % Capital Investments Fluids Division 384 73 18.9% 41 Production Testing 213 25 11.9% 30 Compressco 121 20…
  25. Investor Presentation – Tetra Technologies Inc. – slide 25
    Strong Balance Sheet FINANCIAL OVERVIEW Completing E&P Asset Retirement Obligations with a strong balance sheet Long-term debt at attractive rates of 4%-6% Ample liquidity to fund growth opportunities 305M of Long Term Debt (…
  26. Investor Presentation – Tetra Technologies Inc. – slide 26
    TETRA as an Investment Opportunity 2009: 0.93 Billion (1) Q3 - 2013 TTM: 0.97 Billion (1) Offshore Services Fluids, PT and 26% Compressco 43% Offshore Services 38% Fluids, PT and Compressco 74% E&P Revenue 19%…
  27. Investor Presentation – Tetra Technologies Inc. – slide 27
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  28. Investor Presentation – Tetra Technologies Inc. – slide 28
    TETRA Leadership Team LEADERSHIP AT TETRA Highly qualified management with a broad range of experience from large multi-national and small service companies Stu Brightman President & CEO Elijio Serrano SVP & CFO President & CEO since…
  29. Investor Presentation – Tetra Technologies Inc. – slide 29
    TETRA Leadership Team LEADERSHIP AT TETRA Highly qualified management with a broad range of experience from large multi-national and small service companies Peter Pintar SVP Corporate Development Ron Foster President of Compressco…
  30. Investor Presentation – Tetra Technologies Inc. – slide 30
    Appendix FINANCIAL OVERVIEW (thousands, except per share amounts) Market Capitalization: TTI Market price per share on 11/07/2013 12.29 Average number of diluted shares outstanding (in thousands) for three months ended 9/30/13…
  31. Investor Presentation – Tetra Technologies Inc. – slide 31
    Appendix FINANCIAL OVERVIEW ( thousands) ( thousands) Reconciliation of Net Debt and Reconciliation of Free Cash Flow TTM 2013 Q3 Net Debt/Trailing Twelve Month excluding Maritech(1) EBITDA Excluding Maritech(1) 9/30/2013 Net…
  32. Investor Presentation – Tetra Technologies Inc. – slide 32
    Appendix FINANCIAL OVERVIEW Reconciliation of EBITDA Reconciliation of EBITDA Compressco Production Testing in millions 2010 2011 2012 2013* in millions 2010 2011 2012 2013* Income(Loss) before Taxes and Income(Loss) before Taxes…
  33. Investor Presentation – Tetra Technologies Inc. – slide 33
    TETRA Technologies Inc. November 2013

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