Tetra Technologies, Inc. · NYSE:TTI
Tetra Technologies — Barclays Capital 2010 CEO Energy-Power Conference
28 slides from Tetra Technologies's conference presentation, Sep 14, 2010
Slide 1: Barclays Capital 2010 CEO Energy-Power Conference
Exhibit 99.1 Barclays Capital 2010 CEO Energy-Power Conference Focused on Energy. Dedicated to Service and Safety. NYSE: TTI
Slide 2: Forward Looking Statements and Non-GAAP Financial Measures
Forward Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements: includes certain statements that are ar may be deemed to be forward-looking statements. Generally, the use of words such as"may.” ‘expact,"intend,” "estimate," "projects, ""anticipate," “believe,” “assume, "should
Slide 3: Market Data
Market Data >» Exchange: NYSE » Avg. Shares Outstanding for the six months ended 6/30/2010: 75.4 million > Market Capitalization’: $658 million* to > Enterprise Value": $873 million* > 3-Month Average Daily Trading Volume: 1.135 million shares* *As of September 8, 2010 Non-GAAP tnanciameasuresererec
Slide 4: Company Description
Company Descriptio > TETRAis a growth-oriented, safety-conscious international oil and gas service company to » Focused on delivering above average returns on invested capital > Involved in: Completion Services Production (Fluids) re = Enhancement Services Completion fluids and engineering services
Slide 5: Strategy
tegy and > Bethe preferred supplier of well completion, late-life and production enhancement services operating onshore and offshore in the major producing regions of the world > Completion Services (Fluids) Leverage raw material cost advantages to capture higher gross margins as deeper, more comple
Slide 6: Corporate Headquarters and Operations Offices
% Corporate Headquarters] Z p tr OperationsOffices TO SERVIC
Slide 7: Fluids Division Overview
Fluids Division Overview f > High value fluids franchise effectively competing against SLB, HAL & BHI > Alow-cost provider of high-end CBFs to GOM and selected other markets » Control manufacturing chain > Long-term bromine supply agreement > Positioned to capture share of growing deepwater markets
Slide 8: Fluids Revenues and Rig Count
Fluids Revenues and Rig Count to Fluids Division Revenues and Lagged Total U.S. Rig Count ‘ $90 2,500 $80 2,300 $70 2.100 $00 1900 ts my $0 1300 € $30) 1,100 $20 300 $10 + 700 a — —— 500 so so oe & & ge oe ss Fluids Division Revenues —Langesus rig count > Fluids Division revenues tend to track rig c
Slide 9: Offshore Services Overview
> Offshore Services Overview Extensive suite of decommissioning and abandonment capabilities >» Aleading provider of mid-to-late-life well services in the GOM > Integrated suite of services - Heavy lift, well P&A, diving, cutting and wireline services Steady demand due to normal depletion and matura
Slide 10: Offshore Services Revenues and P&A Demand
Offshore Services Revenues and P&A Dem Pik TETRA Offshore Services Revenues and GOM Structures Removed Industry-Wide” $140 = 40> Fewer than 200 $120 azo structures are removed $100 + 100 in a typical year 2 $80 80 2 - ag > The “P&A Inventory 7 Life” in the GOM is at $40 40 least 16 years” $20 ++ 20
Slide 11: Maritech Overview
Maritech Overview Pik > Proved reserves at 12/31/2009": Oil 7.1 MMBbls Gas 33.5 Bef Total 12.7 MMBble (76.1 Bcfe) >» 2010 YTD average daily production: Oil 3.9 MBblis/day Gas 19.5 MMcfiday Total 7.1 MBble/day (42.8 MMcfe/day) > Proved reserves to production ratio: 4.9 years > Operate primarily in GO
Slide 12: Production Enhancement Division Overview
Production Enhancement Di n Pik TETRA > Production Testing segment > Largest fleet of onshore flowback well testing equipment in the U.S." - Approximately 80% of U.S. well testing fleet deployed in shale basins > Expanding global footprint - One of the largest testing companies worldwide » Broadenin
Slide 13: Production Testing Revenues
Production Testing Revenues Production Testing Revenues and Avg. U.S. Land Rig Count" $40 $35 $30 | sito 8 | go FFE SEPS ESS ‘=e Producfon TesingRevenues — —=—~"Avg.US. LandRig Count 2 “s kes ¥ 2,500 2,000 1,500 1,000 to
Slide 14: Compressco Revenues
to Compressco Revenues Compressco Revenues $30 $ millions e e & = s s es ¢ 22 8 & | | ° . . . Compressco Revenues TT, r
Slide 15: Strategic Catalysts
Strategic Catalysts >» Onshore Fluids and Production Testing growth driven by well completions in North American shale plays to > Resumption of deepwater GOM completions long-term > Tightening regulatory standards and enforcement in GOM are favorable for our Offshore Services business » Global inven
Slide 16: Future Milestones
Future Milestones to > Completion Services (Fluids ) > > El Dorado calcium chloride plant to be fully operational in stages through 2011 Maintain our market share in the shallow water and deepwater Gulf of Mexico completion fluids business Initiate sales of heavy completion fluids to Petrobras Grow
Slide 17: Consolidated Financials: Revenues and Cash from Operating Activities
als Consolidated F Revenues and Cash from Operating Activities $1,200 $1,000 - $800 — 5 $600 é 6 $400 , $200 — : o — ~ a Ay ~ 2 S ~ SS Ss SS > > > © ¥ $ Ro we ™Revenues Cash from Operating Activities to
Slide 18: Consolidated Financials: Net Debt and Net Debt/EBITDA
als to ated F Consol Net Debt and Net Debt/Trailing Twelve Month EBITDA” $ millions ge sb f Red Res Res ==Net Debt —Net Debt/Trailing Twelve Month EBITDA “Netdebt and EBITDA are non-GAAP financial measuresthat are reconclledtothe nearest GAAP financial measuresinthe Financial Data Appendocto his pre
Slide 19: First Half 2010 Segment Results
First Half 2010 Segment Results Bik TETRA Revenue" Profit Before Tax” $Millions $Millions $403 $514 $97.0 @ Fluids ™ Offshore Services ™ Maritech ™ Production Testing ™ Compressco FocusED © GY, DEDICATED TO SERVICE AND SAFE intercompany revenuescf $0.3 millionin Fluidsand'§29.3 milion in Segment pro
Slide 20: Comparisons: 2009 Net Income Margin
20.0% 15.0% 10.0% 5.0% 0.0% 5.0% -10.0% ~15.0% -20.0% «Source: SEC Filingsand publicly available information 'Netincome Margin= Net Income (loss) divided by Revenuesfor 2009 Comparisons to 2009 Net Income Margin” 16.2% 103% —_ 9.2%. - ERR 70% \] | re = 71% 145% Rea S oF BS wt fe gt
Slide 21: 2009 Return on Equity
2009 Return on Equity"’ 20.0% 15.0% % E 19% oy 10.0% © 78% 74% | lit ii 0.0% : —— on : a 5a 10.0% aT A5.0% 20.0% — = 2A 25.0% N So g © 2 & e <= S$ ¢€ «Source: SEC Filings and publicly available information Return on Equity = 200Net income (oss) divided by YE Stockholders’ Equity to
Slide 22: Price/Trailing Twelve Month Net Income Plus DD&A
Price/Trailing Twelve Month Net Incoiiie Plus DD&A. as of 6/30/2010" 10.0 -— : 5.0 -10.0 32 -15.0 $e EF & oF OE © Source: SEC Filings and publicly available information See Financial Data Appendix for calculations, to
Slide 23: Price/Trailing Twelve Month EPS
140.0 120.0 100.0 80.0 60.0 40.0 20.0 0.0 -20.0 -40.0 Price/Trailing Twelve Month EPS as of 6/30/2010") 1170 | 288 52 Biba as [= | cee SY ~ se ¥ e 8 & $ © Source: SEC Filings and publicly available information See Financial Data Appendix for calculations, to 23
Slide 24: Financial Data Appendix
ancial Data Appendix Phowsands, exept per shore omennt} Market Capitalization as of 9/8/2010 ‘Stock price per share on 9/8/2010 $ wcrae miss of shares outstanding for 6 months ended 6/30/2010 BA ‘Market Capitalization: $ 778 Enterprise Value as of 9/8/2010 ‘Market capitalization as of 9/8/2010 $ TTA
Slide 25: Financial Data Appendix
Financial Data Appendix (5 thousands) Reconciliation of Net Debt and Net Debt/Trailing Twelve Month EBITDA™ Net Debt components as af 6/30/2010 3/31/2010 12/21/2009 9720/2009 6/30/2009 3/31/2009 ‘Total debt (as reported) $ 304,217 $ 307,709 $ 310,132 $ 414,183 $ 399,168 $ 426,223 Cash (as reported)
Slide 26: Financial Data Appendix
Financial Data Appendix (5 thowsonds} 2009 Net income Margin" For the year ended 12/31/2009: _™m es mm 8 son o oss own vax Revenues $ B7RR7T $ 67.796 $ 490.275 $ 1,07R665 $ 1,449,300 $ 1,827,081 $ 7,108,250 $ 829,362 $ 1,461,687 et income cago1 119s 057s) _as6.171) (107.373) tees sania 76677 “301967
Slide 27: Financial Data Appendix
Financial Data Appendix to (5 thousands, except per share amounts) Price/Trailing Twelve Month Net income plus DD&A as of 6/30/2010" ™ nes mm 8 on o os eax Netincomefor3mos ended 9/30/09 $ 22862 $ 2643 $ — m02_$UZ4D) $ 24419 $ 495 $ D5 $ 32IB $3595 Net income for 3 mos ended 12/31/09 25,805 1,703 16
Slide 28: Contacts
Contacts: Stuart M. Brightman, President & Chief Executive Officer Joseph M. Abell, Sr. Vice President & Chief Financial Officer 281/367-1983 Fax: 281/364-4346
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