TETRA Technologies, Inc. Announces Purchase of Assets and Business of Southern Well Testing, Inc

Business Wire, Feb 17, 2000

Business/Energy Editors

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THE WOODLANDS, Texas--(BUSINESS WIRE)--Feb. 17, 2000

TETRA Technologies, Inc. (&uot;TETRA&uot; or the &uot;Company&uot;) (NYSE:TTI) today announced that it had purchased all of the production testing assets and business of Southern Well Testing, Inc. Southern, based in Magnolia, Texas, has operations throughout Central and East Texas as well as in the Gulf Coast inland waters.

Geoffrey M. Hertel, chief operating officer of TETRA, stated, &uot;This acquisition represents additional expansion of one of TETRA's core business areas and further enhances its leading position in the growing production testing segment of the energy services industry. This consolidation will result in a 33% increase in our domestic fleet. Additionally, other acquired equipment will be moved into our growing international markets. This is one of a number of consolidation prospects that TETRA has reviewed in production testing. We will continue to explore other prospective acquisitions as we grow this segment of the energy services business.&uot;

TETRA is primarily an energy services company, including an integrated chemicals operation that supplies feedstocks to energy markets, as well as other markets.

This press release includes certain statements that are deemed to be forward-looking statements. These 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 assumptions, 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 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 &uot;Certain Business Risks&uot; contained in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 1998.