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INVESTOR PRESENTATION – Tetra Technologies Inc.

Tetra Technologies Inc. · Mar 1, 2014 · 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. March 2014
  2. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 2
    Corporate Profiles COMPANY OVERVIEW Stock Market NYSE: TTI NASDAQ: GSJK Recent Share Price(1) 12.04 23.25 Market Capitalization(1) 949M 362M Enterprise Value(1) 1.3B 392M Number of Shares/ 78.8M 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 55 GoM Working Floaters(1) 1,600 US Unconventional Rig Count(1) 90% 50 1,400 80% 45 1,200 70% 40 60% 1,000 35 50% 800 30 40% 25 600 30% 20 400 20% 15 200 10% 10 0 0% 5 2000A 2002A 2004A…
  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) 30M in water management & Saudi Arabia JV buy-out 350 300 Capacity addition to fluids manufacturing 250 122 200 150 Frac water…
  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 2013 Revenue Mix COMPANY excl. Offshore Services OVERVIEW Intl. 36% US 64% 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 Complete Maritech decommissioning Fluids, PT and Compressco 43% Accelerate growth in Frac water management 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) 26% 450 435 24% 120 25% 21% 400 383 100 112 17% 20% 16% 350 335 80 92 15% 305 60 70 300 276 10% 40 52 44 250 5%…
  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) (2) EBITDA ( millions) and Margin (1) 300 110 36% 40% 230 35% 90 31% 208 196 28% 28% 30% 200 21% 70 25% 140 64 64 104 50 20% 50 100 15% 30 30…
  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 (1) 175 38% 60 40% 33% 150 30% 31% 33% 133 50 121 30% 125 109 40 44 96 100 81 30 38 20% 31 36 75 20 29 10% 50 10 25 0 0% 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 1.75 outstanding units of Compressco 1.75 1.72 1.70 1.70 1.68 Additionally TETRA, as the general 1.65…
  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 19% 60 18% 20% 300 287 16% 274 266 18% 256 50 15% 248 13% 16% 250 47 47 14% 40 200 42 12% 30 41 10% 150 38…
  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: Focus on core areas: - Implemented Offshore Services cost - Improvement in Production Testing reductions of 19 million profitability and customer expansion -…
  24. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 24
    2014 Segment FINANCIAL OVERVIEW 2014 Mid-Point Guidance millions Revenue Operating Income Operating Margin % Capital Investments Fluids Division 435 83 19.0% 39 Production Testing 230 31 13.3% 28 Compressco 133 26 19.6% 34…
  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 Debt Maturation Schedule (…
  26. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 26
    TETRA as an Investment Opportunity 2009: 0.93 Billion (1) 2014* : 1.0 Billion (1) Fluids, PT and Offshore Compressco Services 43% 24% Offshore Services 38% Fluids, PT and Compressco 76% E&P Revenue 19% * Guidance…
  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 Ron Foster President of Compressco Elisabeth K. Evans VP Human Resources…
  30. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 30
    Appendix FINANCIAL OVERVIEW (thousands, except per share amounts) Market Capitalization: TTI Market price per share on 2/27/2014 12.04 Average number of diluted shares outstanding (in thousands) for three months ended 12/31/13…
  31. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 31
    Appendix FINANCIAL OVERVIEW ( thousands) ( thousands) Reconciliation of Net Debt and Net Debt/ EBITDA Excluding Reconciliation of Free Cash Flow excluding Maritech(1) Maritech(1) 2011 2012 2013 Net Debt components as of…
  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 2014* in millions 2010 2011 2012 2013 2014* Income(Loss) before Taxes and Income(Loss)…
  33. INVESTOR PRESENTATION – Tetra Technologies Inc. – slide 33
    TETRA Technologies Inc. March 2014

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