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TETRA Technologies, Inc. (NYSE:TTI) is considering capital raise options to strengthen its balance sheet. This will help firm to address probable weakness in next year deep water Gulf of Mexico measures and to address the delay of certain assignments from 4Q2016 into early 2017. The deferral in these assignments is projected to result in the firm not being in agreement with one of its debt contracts as of December 31, 2016.

In addition, the firm has acquired an interim arbitration award of $7 million and legal expenses on a long-pending claim. The arbitration panel is projected to rule in 4Q2016 on the amount of legal costs that TETRA should be paid as part of this arbitration procedure. Both awards are projected to be settled in 1H2017.

The highlights

TETRA Technologies considers it has been proactive in setting for changes in the industry environment by reducing capital expenditures, strengthening its balance sheet and managing its cost structure. It plans to continue taking the measures it believes apt to strengthen company financially as it addresses the timing of specific assignments in what it considers to be a recovering market. The firm plans to pursue opportunities to generate the capital required to strengthen its balance sheet in attempt to capitalize on prospects in the fluids market and bolstering its market position in fluids.

TETRA is a geographically expanded gas and oil services firm, concentrated on completion fluids and associated services and products, frac flowback, water management, offshore rig cooling, production well testing, compression equipment and services, and linked offshore services comprising well plugging and abandonment, diving and decommissioning. TETRA has an equity stake, comprising all of the general associate interest, in CSI Compressco LP (NASDAQ:CCLP), a master limited association.

In the last trading session, the stock price of TETRA Technologies jumped more than 4% to close the day at $4.92. The gains recorded in last trading session has brought the market cap of firm to 472.01 million.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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