TETRA (TTI) 10-Q 30 Apr 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-13455
Entity Registrant Name	TETRA Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2148293
Entity Address, Address Line One	24955 Interstate 45 North
Entity Address, City or Town	The Woodlands,
Entity Address, Postal Zip Code	77380
Entity Address, State or Province	TX
City Area Code	281
Local Phone Number	367-1983
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock Shares Outstanding		131,138,795
Entity Central Index Key	0000844965
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	TTI
Security Exchange Name	NYSE
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Share Purchase Right
Security Exchange Name	NYSE
No Trading Symbol Flag	true

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues from external customers	$ 150,972	$ 146,209
Cost of Goods and Services Sold [Abstract]
Depreciation, amortization, and accretion	8,756	8,670
Insurance recoveries associated with damaged equipment	0	2,850
Total cost of revenues	119,870	109,886
Gross profit	31,102	36,323
Exploration and pre-development costs	0	720
General and administrative expense	22,298	23,191
Interest expense, net	5,952	5,092
Loss on debt extinguishment	5,535	0
Other income, net	(3,978)	(214)
Income before taxes and discontinued operations	1,295	7,534
Provision for income taxes	380	1,489
Income before discontinued operations	915	6,045
Loss from discontinued operations, net of taxes	0	(12)
Net income	915	6,033
Loss attributable to noncontrolling interests	0	7
Net income attributable to TETRA stockholders	$ 915	$ 6,040
Basic net income per common share:
Income from continuing operations	$ 0.01	$ 0.05
Income from discontinued operations	0	0
Net income attributable to TETRA stockholders	$ 0.01	$ 0.05
Weighted average basic shares outstanding (in shares)	130,453	128,940
Diluted net income per common share:
Income from continuing operations (in dollars per share)	$ 0.01	$ 0.05
Income from discontinued operations (in dollars per share)	0	0
Net income attributable to TETRA stockholders (in dollars per share)	$ 0.01	$ 0.05
Weighted average diluted shares outstanding (in shares)	132,123	129,975
Product sales
Revenues from external customers	$ 73,337	$ 65,535
Cost of Goods and Services Sold [Abstract]
Cost of product sales	45,406	42,395
Services
Revenues from external customers	77,635	80,674
Cost of Goods and Services Sold [Abstract]
Cost of product sales	$ 65,708	$ 61,671

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 915	$ 6,033
Foreign currency translation adjustment from continuing operations, net of taxes of $0 in 2024 and 2023	(1,634)	1,421
Unrealized gain on investment in CarbonFree	237	121
Comprehensive income (loss)	(482)	7,575
Less: Comprehensive loss attributable to noncontrolling interests	0	7
Comprehensive income (loss) attributable to TETRA stockholders	$ (482)	$ 7,582

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 35,939	$ 52,485
Trade accounts receivable, net of allowances of $462 in 2024 and $614 in 2023	132,429	111,798
Inventories	94,285	96,536
Prepaid expenses and other current assets	24,911	21,196
Total current assets	287,564	282,015
Property, plant, and equipment:
Land and building	23,800	23,173
Machinery and equipment	311,609	304,884
Automobiles and trucks	10,201	10,148
Chemical plants	66,491	67,114
Construction in progress	11,126	10,323
Total property, plant, and equipment	423,227	415,642
Less accumulated depreciation	(309,858)	(307,926)
Net property, plant, and equipment	113,369	107,716
Other assets:
Patents, trademarks and other intangible assets, net of accumulated amortization of $52,427 in 2024 and $51,509 in 2023	28,073	29,132
Operating lease right-of-use assets	30,964	31,915
Investments	20,386	17,354
Other assets	10,969	10,829
Total other assets	90,392	89,230
Total assets	491,325	478,961
Current liabilities:
Trade accounts payable	47,491	52,290
Compensation and employee benefits	19,232	26,918
Operating lease liabilities, current portion	8,731	9,101
Accrued taxes	13,192	10,350
Accrued liabilities and other	29,280	27,303
Total current liabilities	117,926	125,962
Long-term debt, net	179,394	157,505
Operating lease liabilities	26,738	27,538
Asset retirement obligations	14,645	14,199
Deferred income taxes	2,176	2,279
Other liabilities	4,299	4,144
Total long-term liabilities	227,252	205,665
Commitments and contingencies (Note 7)
Equity:
Common stock, par value 0.01 per share; 250,000,000 shares authorized at March 31, 2024 and December 31, 2023; 134,274,837 shares issued at March 31, 2024 and 133,217,848 shares issued at December 31, 2023	1,343	1,332
Additional paid-in capital	488,440	489,156
Treasury stock, at cost; 3,138,675 shares held at March 31, 2024 and December 31, 2023	(19,957)	(19,957)
Accumulated other comprehensive loss	(46,628)	(45,231)
Retained deficit	(275,794)	(276,709)
Total TETRA stockholders’ equity	147,404	148,591
Noncontrolling interests	(1,257)	(1,257)
Total equity	146,147	147,334
Total liabilities and equity	$ 491,325	$ 478,961

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances for doubtful accounts	$ 462	$ 614
Patents, trademarks, and other intangible assets, accumulated amortization	$ 52,427	$ 51,509
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	134,274,837	133,217,848
Treasury stock, shares held	3,138,675	3,138,675

Consolidated Statement of Equit

Consolidated Statement of Equity Statement - USD ($) $ in Thousands	Total	Common Stock Par Value	Additional Paid-In Capital	Treasury Stock	Accumulated Other  Comprehensive Income (Loss)	Unrealized Gain (Loss) on Investment	Retained Deficit	Noncontrolling Interest
Balance at beginning of period at Dec. 31, 2022	$ 106,397	$ 1,318	$ 477,820	$ (19,957)	$ (48,991)	$ (72)	$ (302,493)	$ (1,228)
Net income (loss), retained deficit	6,040						6,040
Net income (loss)	6,033							(7)
Translation adjustment, net of taxes	1,421				1,421
Unrealized gain	121					121
Comprehensive income	7,575
Equity-based compensation	3,514		3,514
Other	(1,333)	7	(1,341)					1
Balance at end of period at Mar. 31, 2023	116,153	1,325	479,993	(19,957)	(47,570)	49	(296,453)	(1,234)
Balance at beginning of period at Dec. 31, 2023	147,334	1,332	489,156	(19,957)	(45,886)	655	(276,709)	(1,257)
Net income (loss), retained deficit	915						915
Net income (loss)	915							0
Translation adjustment, net of taxes	(1,634)
Unrealized gain	237					237
Comprehensive income	(482)
Equity-based compensation	1,623		1,623
Other	(2,328)	11	(2,339)
Balance at end of period at Mar. 31, 2024	$ 146,147	$ 1,343	$ 488,440	$ (19,957)	$ (47,520)	$ 892	$ (275,794)	$ (1,257)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net income	$ 915	$ 6,033
Reconciliation of net income to net cash provided by operating activities:
Depreciation, amortization, and accretion	8,755	8,670
(Gain) loss on investments	(2,795)	505
Equity-based compensation expense	1,623	1,276
Recovery of credit losses	(115)	(21)
Amortization and expense of financing costs	380	884
Expense unamortized finance costs	5,535	0
Insurance recoveries associated with damaged equipment	0	(2,850)
Gain on sale of assets	(29)	(170)
Other non-cash credits	(553)	(100)
Changes in operating assets and liabilities:
Accounts receivable	(19,605)	12,626
Inventories	1,542	(11,313)
Prepaid expenses and other current assets	(3,918)	4,496
Trade accounts payable and accrued expenses	(5,577)	(11,179)
Other	26	128
Net cash provided by (used in) operating activities	(13,816)	8,985
Investing activities:
Purchases of property, plant, and equipment, net	(15,827)	(12,784)
Proceeds from sale of property, plant, and equipment	251	289
Proceeds from insurance recoveries associated with damaged equipment	0	2,850
Other investing activities	(172)	(1,552)
Net cash used in investing activities	(15,748)	(11,197)
Financing activities:
Proceeds from credit agreements and long-term debt	184,456	52,756
Principal payments on credit agreements and long-term debt	(163,215)	(47,362)
Payments on financing lease obligations	(277)	(258)
Shares withheld for taxes on equity-based compensation	(2,339)	0
Debt issuance costs and other financing activities	(5,277)	0
Net cash provided by financing activities	13,348	5,136
Effect of exchange rate changes on cash	(330)	167
Increase (decrease) in cash and cash equivalents	(16,546)	3,091
Cash and cash equivalents at beginning of period	52,485	13,592
Cash and cash equivalents at beginning of period	$ 35,939	$ 16,683

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Translation adjustment, tax	$ 0	$ 0
Equity-based compensation		2,300
Unrealized gain	$ 237	$ 121

Organization, Basis of Presenta

Organization, Basis of Presentation, and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Organization, Basis of Presentation, and Significant Accounting Policies	ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES Organization We are an energy services and solutions company with operations on six continents focused on developing environmentally conscious services and solutions that help make people's lives better. In addition to providing products and services to the oil and gas industry and calcium chloride for diverse applications, TETRA is expanding into the low-carbon energy market with chemistry expertise, key mineral acreage, and global infrastructure, helping to meet the demand for sustainable energy in the twenty-first century. We were incorporated in Delaware in 1981. Our products and services are delivered through two reporting segments – Completion Fluids & Products Division and Water & Flowback Services Division. Our Completion Fluids & Products Division manufactures and markets clear brine fluids (“CBFs”), additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States and in certain countries in Latin America, Europe, Asia, the Middle East, and Africa. The Division also markets liquid and dry calcium chloride products manufactured at its production facilities or purchased from third-party suppliers to a variety of markets outside the energy industry. Calcium chloride is used in the oil and gas industry, and also has broad industrial applications to the agricultural, road, food and beverage, and lithium production markets. Our Completion Fluids & Products Division also markets TETRA PureFlow, an ultra-pure zinc bromide, as well as TETRA PureFlow Plus, an ultra-pure zinc bromide/zinc chloride blend, to battery technology companies. Our Water & Flowback Services Division provides onshore oil and gas operators with comprehensive water management services. The Division also provides frac flowback, production well testing, and other associated services in many of the major oil and gas producing regions in the United States, as well as in oil and gas basins in certain countries in Latin America, Europe, and the Middle East. Unless the context requires otherwise, when we refer to “we,” “us,” and “our,” we are describing TETRA Technologies, Inc. and its subsidiaries on a consolidated basis. Presentation Our unaudited consolidated financial statements include the accounts of our wholly owned or controlled subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The information furnished reflects all normal recurring adjustments, which are, in the opinion of management, necessary to provide a fair statement of the results for the interim periods. Operating results for the period ended March 31, 2024 are not necessarily indicative of results that may be expected for the twelve months ended December 31, 2024. The accompanying unaudited consolidated financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the U.S. Securities and Exchange Commission (“SEC”) and do not include all information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2023 and notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2024 (the “ 202 3 Annual Report ”). Significant Accounting Policies Our significant accounting policies are described in the notes to our consolidated financial statements for the year ended December 31, 2023 included in our 2023 Annual Report . There have been no significant changes in our accounting policies or the application thereof during the first quarter of 2024. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, and impairments during the reporting period. Actual results could differ from those estimates, and such differences could be material. Mineral Resources Arrangement We have rights to the brine underlying our approximately 40,000 gross acres of brine leases in the Smackover Formation in Southwest Arkansas, including rights to the bromine and lithium contained in the brine. In June 2023, we entered into a memorandum of understanding (“MOU”) with Saltwerx LLC (“Saltwerx”), an indirect wholly owned subsidiary of ExxonMobil Corporation, relating to a newly formed Brine Unit and potential bromine and lithium production from brine produced from the unit. We completed an initial preliminary economic assessment in early 2023 for a bromine extraction plant. On January 8, 2024, we announced the completion of a technical resources report for our Brine Unit in Arkansas. During the three months ended March 31, 2024, we capitalized approximately $4.0 million of costs associated with the development of our properties in Arkansas. We recognized $0.7 million of expense during the three months ended March 31, 2023 for exploration and pre-development costs representing expenditures incurred to evaluate potential future development of our lithium and bromine properties in Arkansas. Foreign Currency Translation We have designated the Euro, the British pound, the Canadian dollar, the Brazilian real, and the Mexican peso as the functional currencies for our operations in Finland and Sweden, the United Kingdom, Canada, Brazil, and certain of our operations in Mexico, respectively. The United States dollar is the designated functional currency for all of our other non-U.S. operations. The cumulative translation effects of translating the applicable accounts from the functional currencies into the United States dollar at current exchange rates are included as a separate component of equity. Foreign currency exchange (gains) losses are included in other (income) expense, net and totaled $(0.2) million and $0.2 million during the three months ended March 31, 2024 and March 31, 2023, respectively. Fair Value Measurements We utilize fair value measurements to account for certain items and account balances within our consolidated financial statements. Fair value measurements are utilized on a recurring basis in the determination of the carrying values of certain investments. See Note 7 - “Fair Value Measurements” for further discussion. Fair value measurements are also utilized on a nonrecurring basis in certain circumstances, including the impairment of long-lived assets (a Level 3 fair value measurement). Supplemental Cash Flow Information Supplemental cash flow information is as follows: Three Months Ended 2024 2023 (in thousands) Interest paid $ 5,406 $ 4,513 Income taxes paid $ 433 $ 1,358 March 31, 2024 December 31, 2023 (in thousands) Accrued capital expenditures $ 3,908 $ 5,171 New Accounting Pronouncements Standards not yet adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segments disclosures in annual and interim financial statements, primarily through expanded disclosures of significant segment expenses. ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023 and interim reporting periods beginning after December 15, 2024, with early adoption permitted. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The new standard requires companies to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the expected impact of these standards but does not expect them to have a significant impact on its consolidated financial statements upon adoption as the standards expand disclosures only.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE FROM CONTRACTS WITH CUSTOMERS Our contract asset balances, primarily associated with contractual invoicing milestones and/or customer documentation requirements, were $25.4 million and $30.6 million as of March 31, 2024 and December 31, 2023, respectively. Contract assets, along with billed trade accounts receivable, are included in trade accounts receivable in our consolidated balance sheets. Unearned income includes amounts in which the Company was contractually allowed to invoice prior to satisfying the associated performance obligations. Unearned income balances were $5.8 million and $3.1 million as of March 31, 2024 and December 31, 2023, respectively, and vary based on the timing of invoicing and performance obligations being met. Unearned income is included in accrued liabilities and other in our consolidated balance sheets. We recognized approximately $0.1 million and $0.7 million of revenue during the three months ended March 31, 2024 and March 31, 2023, respectively, deferred in unearned income as of the beginning of the period. During the three months ended March 31, 2024 and March 31, 2023, contract costs were not significant. We disaggregate revenue from contracts with customers into Product Sales and Services within each segment, as noted in our two reportable segments in Note 9 - “Industry Segments.” In addition, we disaggregate revenue from contracts with customers by geography based on the following table below. Three Months Ended 2024 2023 (in thousands) Completion Fluids & Products United States $ 41,437 $ 32,824 International 35,845 36,218 77,282 69,042 Water & Flowback Services United States 64,711 68,338 International 8,979 8,829 73,690 77,167 Total Revenue United States 106,148 101,162 International 44,824 45,047 $ 150,972 $ 146,209

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Components of inventories as of March 31, 2024 and December 31, 2023 are as follows: March 31, 2024 December 31, 2023 (in thousands) Finished goods $ 81,138 $ 79,769 Raw materials 4,280 8,329 Parts and supplies 7,012 6,868 Work in progress 1,855 1,570 Total inventories $ 94,285 $ 96,536

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments in and Advances to Affiliates [Abstract]
Investments	INVESTMENTS Our investments as of March 31, 2024 and December 31, 2023 consist of the following: March 31, 2024 December 31, 2023 (in thousands) Investment in CSI Compressco $ 12,204 $ 8,538 Investment in CarbonFree 6,888 6,850 Investment in Standard Lithium 944 1,616 Other investments 350 350 Total Investments $ 20,386 $ 17,354 Following the January 2021 sale of the general partner of CSI Compressco LP (“CSI Compressco”), we owned approximately 3.7% of the outstanding CSI Compressco common units (NASDAQ: CCLP) as of March 31, 2024. CSI Compressco was acquired by Kodiak Gas Services, Inc. (NYSE: KGS) (“Kodiak”) on April 1, 2024. See Note 10 - “Subsequent Events” for further information. CarbonFree Chemicals Holdings LLC (“CarbonFree”) is a carbon capture company with patented technologies that capture CO 2 and mineralize emissions to make commercial, carbon-negative chemicals. In December 2021, we invested $5.0 million in a convertible note issued by CarbonFree. During the three month period ended March 31, 2024, the convertible note agreement was amended and, in connection with that amendment, note holders agreed to defer their right to electively convert the convertible notes to common units of CarbonFree (“CarbonFree Units”) for two years. In exchange for the amendment, we received CarbonFree Units representing less than 1% of the CarbonFree Units outstanding as of March 31, 2024. The CarbonFree Units are not publicly traded and may not be offered, sold, transferred or pledged until such common units are registered pursuant to an effective registration statement or pursuant to an exemption from registration. Our exposure to potential losses by CarbonFree is limited to our investment, including capitalized and accrued interest associated with the CarbonFree convertible note and CarbonFree Units. We are party to agreements whereby Standard Lithium Ltd. (NYSE: SLI) (“Standard Lithium”) has the rights to produce and extract lithium in a portion of our Arkansas leases. The Company received stock of Standard Lithium under the terms of its arrangements. See Note 7 - “Fair Value Measurements” for further information.

Long-Term Debt and Other Borrow

Long-Term Debt and Other Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt Disclosure	LONG-TERM DEBT AND OTHER BORROWINGS Consolidated long-term debt as of March 31, 2024 and December 31, 2023 consists of the following: Scheduled Maturity March 31, 2024 December 31, 2023 (in thousands) Term Credit Agreement (1) January 12, 2030 $ 179,394 $ 157,505 Total long-term debt $ 179,394 $ 157,505 (1) Net of unamortized discount of $5.5 million and $2.2 million as of March 31, 2024 and December 31, 2023, respectively, and net of unamortized deferred financing costs of $5.1 million and $3.3 million as of March 31, 2024 and December 31, 2023, respectively. Term Credit Agreement On January 12, 2024, the Company entered into a definitive agreement for a $265.0 million credit facility, consisting of a $190.0 million funded term loan and a $75.0 million delayed-draw term loan (collectively the “Term Credit Agreement”) that refinanced the Company’s prior credit facility outstanding as of December 31, 2023 and provided capital to advance the Company’s Arkansas bromine processing project. Pricing on the Term Credit Agreement is the secured overnight financing rate plus 5.75%. The Company is required to pay a commitment fee on the unutilized commitments with respect to the delayed-draw term loan at the rate of 1.5% per annum. The interest rate per annum on borrowings under the Term Credit Agreement is 11.17% as of March 31, 2024 and the maturity date of the Term Credit Agreement is January 12, 2030. The Company used the net proceeds to repay in full the balance of its prior credit facility, with approximately $15.2 million of additional cash, net of discounts and transaction expenses. As a result of termination of the prior credit facility, a loss of $5.5 million was recognized during the three-month period ended March 31, 2024 primarily for unamortized deferred financing costs. The Term Credit Agreement contains certain affirmative and negative covenants, including covenants that restrict the ability of the Company and certain of its subsidiaries to take certain actions including, among other things and subject to certain significant exceptions, the incurrence of debt, the granting of liens, engaging in mergers and other fundamental changes, the making of investments, entering into transactions with affiliates, the payment of dividends and other restricted payments, the prepayment of other indebtedness and the sale of assets. The Term Credit Agreement also requires the Company to maintain a Leverage Ratio (as defined in the new term loan credit agreement) of not more than 4.0 to 1.0 as of the end of each fiscal quarter and Liquidity (as defined in the Term Credit Agreement) of not less than $50.0 million at all times. All obligations under the Term Credit Agreement and the guarantees of those obligations are secured, subject to certain exceptions, by a security interest on substantially all of the property of the Company and its domestic subsidiaries, subject to the lien priorities set forth in the intercreditor agreement with the agent under our ABL Credit Agreement. Our Term Credit Agreement requires us to offer to prepay a percentage of Excess Cash Flow (as defined in the Term Credit Agreement) within five business days of filing our Annual Report beginning with the financial statements for the year ending December 31, 2024. The Term Credit Agreement includes customary events of default including non-payment of principal, interest or fees, violation of covenants, inaccuracy of representations or warranties, cross-default to other material indebtedness, bankruptcy and insolvency events, invalidity or impairment of security interests or invalidity of loan documents, certain ERISA events, unsatisfied or unstayed judgments and change of control. ABL Credit Agreement As of March 31, 2024, our asset-based credit agreement (“ABL Credit Agreement”) provides for a senior secured revolving credit facility of up to $80.0 million, with a $20.0 million accordion. The credit facility is subject to a borrowing base determined monthly by reference to the value of inventory and accounts receivable, and includes a sublimit of $20.0 million for letters of credit, a swingline loan sublimit of $11.5 million, and a $15.0 million sub-facility subject to a borrowing base consisting of certain trade receivables and inventory in the United Kingdom. As of March 31, 2024, we had no balance outstanding and $0.5 million in letters of credit and guarantees under our ABL Credit Agreement. Deferred financing costs of $0.5 million and $0.6 million as of March 31, 2024 and December 31, 2023, respectively, were classified as other long-term assets on the accompanying consolidated balance sheet as there was no outstanding balance on our ABL Credit Agreement. Subject to compliance with the covenants, borrowing base, and other provisions of the ABL Credit Agreement that may limit borrowings, we had availability of $79.5 million under this agreement. Borrowings under the ABL Credit Agreement bear interest at a rate per annum equal to, at the option of TETRA, either (i) the standard overnight financing rate plus 0.10%, (ii) a base rate plus a margin based on a fixed charge coverage ratio, (iii) the Daily Simple Risk Free Rate plus 0.10%, or (iv) with respect to borrowings denominated in Sterling, the Daily Simple Risk Free Rate for Sterling plus 0.0326%. The base rate is determined by reference to the highest of (a) the prime rate of interest as announced from time to time by JPMorgan Chase Bank, N.A. (b) the Federal Funds Effective Rate (as defined in the ABL Credit Agreement) plus 0.5% per annum and (c) the standard overnight financing rate (adjusted to reflect any required bank reserves) for a one-month period on such day plus 1.0% per annum. Borrowings outstanding have an applicable margin ranging from 1.75% to 2.25% per annum for LIBOR-based loans and 0.75% to 1.25% per annum for base-rate loans, based upon the applicable fixed charge coverage ratio. As of March 31, 2024, the interest rate per annum on borrowings under the ABL Credit Agreement is 8.75%. In addition to paying interest on the outstanding principal under the ABL Credit Agreement, TETRA is required to pay a commitment fee in respect of the unutilized commitments at an applicable rate ranging from 0.375% to 0.5% per annum, paid monthly in arrears based on utilization of the commitments under the ABL Credit Agreement. TETRA is also required to pay a customary letter of credit fee equal to the applicable margin on loans and fronting fees. All obligations under the ABL Credit Agreement and the guarantees of those obligations are secured, subject to certain exceptions, by a security interest for the benefit of the ABL Lenders on substantially all of the personal property of TETRA and certain subsidiaries of TETRA, the equity interests in certain domestic subsidiaries, and a maximum of 65% of the equity interests in certain foreign subsidiaries. Swedish Credit Facility In January 2022, the Company entered into a revolving credit facility for seasonal working capital needs of subsidiaries in Sweden (“Swedish Credit Facility”). As of March 31, 2024, we had no balance outstanding and availability of approximately $4.7 million under the Swedish Credit Facility. During each year, all outstanding loans under the Swedish Credit Facility must be repaid for at least 30 consecutive days. Borrowings bear interest at a rate of 2.95% per annum. The Swedish Credit Facility expires on December 31, 2024 and the Company intends to renew it annually. Finland Credit Agreement In January 2022, the Company also entered into an agreement guaranteed by certain accounts receivable and inventory in Finland (“Finland Credit Agreement”). As of March 31, 2024, there were $1.5 million of letters of credit outstanding against the Finland Credit Agreement. The Finland Credit Agreement expires on January 31, 2025 and the Company intends to renew it annually. Covenants Our credit agreements contain certain affirmative and negative covenants, including covenants that restrict the ability to pay dividends or other restricted payments. As of March 31, 2024, we are in compliance with all covenants under the credit agreements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation We are named defendants in several lawsuits and respondents in certain governmental proceedings arising in the ordinary course of business. There have been no material developments in our legal proceedings during the quarter ended March 31, 2024. For additional discussion of our legal proceedings, please see our 202 3 Annual Report . Also see Note 10 - “Subsequent Events” for information related to a putative class action complaint that was filed on April 25, 2024. While the outcome of lawsuits or other proceedings against us cannot be predicted with certainty, management does not consider it reasonably possible that a loss resulting from such lawsuits or other proceedings in excess of any amounts accrued has been incurred that is expected to have a material adverse impact on our financial condition, results of operations, or liquidity. Product Purchase Obligations

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Financial Instruments Investments We retained an interest in CSI Compressco representing approximately 3.7% of CSI Compressco’s outstanding common units as of March 31, 2024. CSI Compressco was acquired by Kodiak on April 1, 2024. See Note 10 - “Subsequent Event” for further information. In December 2021, we invested in a $5.0 million convertible note issued by CarbonFree. In addition, we receive stock of Standard Lithium under the terms of our arrangements as noted in Note 4 - “Investments.” Our investments in CSI Compressco and Standard Lithium are recorded in investments on our consolidated balance sheets based on the quoted market stock price (Level 1 fair value measurements). The stock component of consideration received from Standard Lithium was initially recorded as unearned income based on the quoted market price at the time the stock is received, then recognized in income over the contract term. Changes in the value of stock are recorded in other (income) expense, net in our consolidated statements of operations. Our investment in convertible notes and common units issued by CarbonFree is recorded in our consolidated financial statements based on an internal valuation with assistance from a third-party valuation specialist (Level 3 fair value measurement). The valuation is impacted by key assumptions, including the assumed probability and timing of potential debt or equity offerings. The convertible note includes an option to convert the note into equity interests issued by CarbonFree. The change in the fair value of the embedded option is included in other (income) expense, net in our consolidated statements of operations. The change in the fair value of the convertible note, excluding the embedded option, and common units are included in other comprehensive income (loss) in our consolidated statements of comprehensive income. The change in our investments for the three-month periods ended March 31, 2024 and 2023 are as follows: Three Months Ended March 31, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Unobservable Inputs (Level 1) (Level 3) Total (in thousands) Investment balance at beginning of period $ 10,154 $ 7,200 $ 17,354 Unrealized gain on equity securities 2,994 — 2,994 Unrealized loss on embedded option — (199) (199) Unrealized gain on convertible note, excluding embedded option — 237 237 Investment balance at end of period $ 13,148 $ 7,238 $ 20,386 Three Months Ended March 31, 2023 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Unobservable Inputs (Level 1) (Level 3) Total (in thousands) Investment balance at beginning of period $ 8,147 $ 6,139 $ 14,286 Unrealized loss on equity securities (184) — (184) Unrealized loss on embedded option — (321) (321) Unrealized gain on convertible note, excluding embedded option — 121 121 Investment balance at end of period $ 7,963 $ 5,939 $ 13,902 Recurring fair value measurements by valuation hierarchy as of March 31, 2024 and December 31, 2023 are as follows: Fair Value Measurements Using Total as of Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Description March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Investment in CSI Compressco $ 12,204 $ 12,204 $ — $ — Investment in CarbonFree 6,888 — — 6,888 Investment in Standard Lithium 944 944 — — Other investments 350 — — 350 Total investments $ 20,386 Fair Value Measurements Using Total as of Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Description December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Investment in CSI Compressco $ 8,538 $ 8,538 $ — $ — Investment in CarbonFree 6,850 — — 6,850 Investment in Standard Lithium 1,616 1,616 — — Other investments 350 — — 350 Investments $ 17,354 Other The fair values of cash, restricted cash, accounts receivable, accounts payable, accrued liabilities, short-term borrowings and long-term debt approximate their carrying amounts. See Note 5 - “Long-Term Debt and Other Borrowings” for further discussion.

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income Per Share	NET INCOME PER SHARE The following is a reconciliation of the weighted average number of common shares outstanding with the number of shares used in the computations of net income per common and common equivalent share: Three Months Ended 2024 2023 (in thousands) Number of weighted average common shares outstanding 130,453 128,940 Assumed vesting of equity awards 1,670 1,035 Average diluted shares outstanding 132,123 129,975

Industry Segments

Industry Segments	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Industry Segments	INDUSTRY SEGMENTS We manage our operations through two segments: Completion Fluids & Products Division and Water & Flowback Services Division. Summarized financial information concerning the business segments is as follows: Three Months Ended 2024 2023 (in thousands) Revenues from external customers Product sales Completion Fluids & Products Division $ 72,753 $ 65,515 Water & Flowback Services Division 584 20 Consolidated $ 73,337 $ 65,535 Services Completion Fluids & Products Division $ 4,529 $ 3,527 Water & Flowback Services Division 73,106 77,147 Consolidated $ 77,635 $ 80,674 Total revenues Completion Fluids & Products Division $ 77,282 $ 69,042 Water & Flowback Services Division 73,690 77,167 Consolidated $ 150,972 $ 146,209 Income (loss) before taxes and discontinued operations Completion Fluids & Products Division $ 19,792 $ 18,442 Water & Flowback Services Division 721 6,378 Corporate Overhead (1) (19,218) (17,286) Consolidated $ 1,295 $ 7,534 (1) Amounts reflected include the following general corporate expenses: Three Months Ended 2024 2023 (in thousands) General and administrative expense $ 11,102 $ 11,059 Depreciation and amortization 81 109 Interest expense 6,145 5,460 Loss on debt extinguishment 5,535 — Other general corporate (income) expense, net (3,645) 658 Total $ 19,218 $ 17,286

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q and determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements except for the transaction and event described below. On April 1, 2024, Kodiak completed its acquisition of CSI Compressco. In exchange for our 5.2 million CSI Compressco common units, we received approximately 450,000 shares of Kodiak common stock. On April 25, 2024, a purported stockholder of the Company filed a putative class action complaint in the Delaware Court of Chancery naming as defendants all current members of the Board, the Company and the Rights Agent. The litigation is captioned Webb, et al. v. Murphy, et al., C.A. No. 2024-0445 (Del. Ch.). The plaintiff alleges that the Board breached their fiduciary duties by adopting and maintaining the Company’s Tax Benefits Preservation Plan (the “Tax Plan”). The plaintiff seeks, among other relief, to enjoin the Tax Plan. We believe that the plaintiff’s claims lack merit.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss), retained deficit	$ 915	$ 6,040

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization, Basis of Presen_2

Organization, Basis of Presentation, and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Principles of consolidation policy	Presentation Our unaudited consolidated financial statements include the accounts of our wholly owned or controlled subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The information furnished reflects all normal recurring adjustments, which are, in the opinion of management, necessary to provide a fair statement of the results for the interim periods. Operating results for the period ended March 31, 2024 are not necessarily indicative of results that may be expected for the twelve months ended December 31, 2024. The accompanying unaudited consolidated financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the U.S. Securities and Exchange Commission (“SEC”) and do not include all information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2023 and notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2024 (the “ 202 3 Annual Report ”).
Use of estimates policy	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, and impairments during the reporting period. Actual results could differ from those estimates, and such differences could be material.
Mineral Resources Arrangement	Mineral Resources Arrangement We have rights to the brine underlying our approximately 40,000 gross acres of brine leases in the Smackover Formation in Southwest Arkansas, including rights to the bromine and lithium contained in the brine. In June 2023, we entered into a memorandum of understanding (“MOU”) with Saltwerx LLC (“Saltwerx”), an indirect wholly owned subsidiary of ExxonMobil Corporation, relating to a newly formed Brine Unit and potential bromine and lithium production from brine produced from the unit. We completed an initial preliminary economic assessment in early 2023 for a bromine extraction plant. On January 8, 2024, we announced the completion of a technical resources report for our Brine Unit in Arkansas. During the three months ended March 31, 2024, we capitalized approximately $4.0 million of costs associated with the development of our properties in Arkansas. We recognized $0.7 million of expense during the three months ended March 31, 2023 for exploration and pre-development costs representing expenditures incurred to evaluate potential future development of our lithium and bromine properties in Arkansas.
Foreign currency translation policy	Foreign Currency Translation We have designated the Euro, the British pound, the Canadian dollar, the Brazilian real, and the Mexican peso as the functional currencies for our operations in Finland and Sweden, the United Kingdom, Canada, Brazil, and certain of our operations in Mexico, respectively. The United States dollar is the designated functional currency for all of our other non-U.S. operations. The cumulative translation effects of translating the applicable accounts from the functional currencies into the United States dollar at current exchange rates are included as a separate component of equity. Foreign currency exchange (gains) losses are included in other (income) expense, net and totaled $(0.2) million and $0.2 million during the three months ended March 31, 2024 and March 31, 2023, respectively.
Fair value measurements	Fair Value Measurements We utilize fair value measurements to account for certain items and account balances within our consolidated financial statements. Fair value measurements are utilized on a recurring basis in the determination of the carrying values of certain investments. See Note 7 - “Fair Value Measurements” for further discussion. Fair value measurements are also utilized on a nonrecurring basis in certain circumstances, including the impairment of long-lived assets (a Level 3 fair value measurement).
New accounting pronouncements	New Accounting Pronouncements Standards not yet adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segments disclosures in annual and interim financial statements, primarily through expanded disclosures of significant segment expenses. ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023 and interim reporting periods beginning after December 15, 2024, with early adoption permitted. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The new standard requires companies to disclose specific categories in the income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the expected impact of these standards but does not expect them to have a significant impact on its consolidated financial statements upon adoption as the standards expand disclosures only.

Organization, Basis of Presen_3

Organization, Basis of Presentation, and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow information is as follows: Three Months Ended 2024 2023 (in thousands) Interest paid $ 5,406 $ 4,513 Income taxes paid $ 433 $ 1,358 March 31, 2024 December 31, 2023 (in thousands) Accrued capital expenditures $ 3,908 $ 5,171

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In addition, we disaggregate revenue from contracts with customers by geography based on the following table below. Three Months Ended 2024 2023 (in thousands) Completion Fluids & Products United States $ 41,437 $ 32,824 International 35,845 36,218 77,282 69,042 Water & Flowback Services United States 64,711 68,338 International 8,979 8,829 73,690 77,167 Total Revenue United States 106,148 101,162 International 44,824 45,047 $ 150,972 $ 146,209

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Components of inventories as of March 31, 2024 and December 31, 2023 are as follows: March 31, 2024 December 31, 2023 (in thousands) Finished goods $ 81,138 $ 79,769 Raw materials 4,280 8,329 Parts and supplies 7,012 6,868 Work in progress 1,855 1,570 Total inventories $ 94,285 $ 96,536

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments in and Advances to Affiliates [Abstract]
Summary of Investments	Our investments as of March 31, 2024 and December 31, 2023 consist of the following: March 31, 2024 December 31, 2023 (in thousands) Investment in CSI Compressco $ 12,204 $ 8,538 Investment in CarbonFree 6,888 6,850 Investment in Standard Lithium 944 1,616 Other investments 350 350 Total Investments $ 20,386 $ 17,354

Long-Term Debt and Other Borr_2

Long-Term Debt and Other Borrowings (Table)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt Table	Consolidated long-term debt as of March 31, 2024 and December 31, 2023 consists of the following: Scheduled Maturity March 31, 2024 December 31, 2023 (in thousands) Term Credit Agreement (1) January 12, 2030 $ 179,394 $ 157,505 Total long-term debt $ 179,394 $ 157,505 (1) Net of unamortized discount of $5.5 million and $2.2 million as of March 31, 2024 and December 31, 2023, respectively, and net of unamortized deferred financing costs of $5.1 million and $3.3 million as of March 31, 2024 and December 31, 2023, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	Recurring fair value measurements by valuation hierarchy as of March 31, 2024 and December 31, 2023 are as follows: Fair Value Measurements Using Total as of Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Description March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Investment in CSI Compressco $ 12,204 $ 12,204 $ — $ — Investment in CarbonFree 6,888 — — 6,888 Investment in Standard Lithium 944 944 — — Other investments 350 — — 350 Total investments $ 20,386 Fair Value Measurements Using Total as of Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Other Observable Inputs Significant Unobservable Inputs Description December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Investment in CSI Compressco $ 8,538 $ 8,538 $ — $ — Investment in CarbonFree 6,850 — — 6,850 Investment in Standard Lithium 1,616 1,616 — — Other investments 350 — — 350 Investments $ 17,354
Investment	The change in our investments for the three-month periods ended March 31, 2024 and 2023 are as follows: Three Months Ended March 31, 2024 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Unobservable Inputs (Level 1) (Level 3) Total (in thousands) Investment balance at beginning of period $ 10,154 $ 7,200 $ 17,354 Unrealized gain on equity securities 2,994 — 2,994 Unrealized loss on embedded option — (199) (199) Unrealized gain on convertible note, excluding embedded option — 237 237 Investment balance at end of period $ 13,148 $ 7,238 $ 20,386 Three Months Ended March 31, 2023 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Unobservable Inputs (Level 1) (Level 3) Total (in thousands) Investment balance at beginning of period $ 8,147 $ 6,139 $ 14,286 Unrealized loss on equity securities (184) — (184) Unrealized loss on embedded option — (321) (321) Unrealized gain on convertible note, excluding embedded option — 121 121 Investment balance at end of period $ 7,963 $ 5,939 $ 13,902

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Share	The following is a reconciliation of the weighted average number of common shares outstanding with the number of shares used in the computations of net income per common and common equivalent share: Three Months Ended 2024 2023 (in thousands) Number of weighted average common shares outstanding 130,453 128,940 Assumed vesting of equity awards 1,670 1,035 Average diluted shares outstanding 132,123 129,975

Industry Segments (Tables)

Industry Segments (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Table	Summarized financial information concerning the business segments is as follows: Three Months Ended 2024 2023 (in thousands) Revenues from external customers Product sales Completion Fluids & Products Division $ 72,753 $ 65,515 Water & Flowback Services Division 584 20 Consolidated $ 73,337 $ 65,535 Services Completion Fluids & Products Division $ 4,529 $ 3,527 Water & Flowback Services Division 73,106 77,147 Consolidated $ 77,635 $ 80,674 Total revenues Completion Fluids & Products Division $ 77,282 $ 69,042 Water & Flowback Services Division 73,690 77,167 Consolidated $ 150,972 $ 146,209 Income (loss) before taxes and discontinued operations Completion Fluids & Products Division $ 19,792 $ 18,442 Water & Flowback Services Division 721 6,378 Corporate Overhead (1) (19,218) (17,286) Consolidated $ 1,295 $ 7,534 (1) Amounts reflected include the following general corporate expenses: Three Months Ended 2024 2023 (in thousands) General and administrative expense $ 11,102 $ 11,059 Depreciation and amortization 81 109 Interest expense 6,145 5,460 Loss on debt extinguishment 5,535 — Other general corporate (income) expense, net (3,645) 658 Total $ 19,218 $ 17,286

Organization, Basis of Presen_4

Organization, Basis of Presentation, and Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) a segment $ / shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares
Dividends Payable [Line Items]
Number of Operating Segments | segment	2
Foreign currency exchange (gains) and losses	$ (200)	$ 200
Common stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Exploration and pre-development costs	$ 0	$ 720
Capitalized exploratory expense	$ 4,000
Gross brine lease acres | a	40,000
Secured Debt | Asset-Based Credit Agreement
Dividends Payable [Line Items]
Deferred financing costs	$ 500		$ 600
Parent Company | ABL Credit Agreement | Line of Credit
Dividends Payable [Line Items]
Bank line of credit, letters of credit and guarantees	$ 500

Organization, Basis of Presen_5

Organization, Basis of Presentation, and Significant Accounting Policies - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Interest paid	$ 5,406	$ 4,513
Income taxes paid	433	$ 1,358
Capital Expenditures Incurred but Not yet Paid	$ 3,908		$ 5,171

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Contract with customer, asset balances	$ 25,400		$ 30,600
Deferred revenue, revenue recognized	100	$ 700
Income recognized	$ 3,978	$ 214
Number of Reportable Segments | segment	2
Purchase order	$ 5,800		$ 3,100

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 150,972	$ 146,209
United States
Disaggregation of Revenue [Line Items]
Revenues from external customers	106,148	101,162
International
Disaggregation of Revenue [Line Items]
Revenues from external customers	44,824	45,047
Completion Fluids & Products Division
Disaggregation of Revenue [Line Items]
Revenues from external customers	77,282	69,042
Completion Fluids & Products Division | United States
Disaggregation of Revenue [Line Items]
Revenues from external customers	41,437	32,824
Completion Fluids & Products Division | International
Disaggregation of Revenue [Line Items]
Revenues from external customers	35,845	36,218
Water & Flowback Services Division
Disaggregation of Revenue [Line Items]
Revenues from external customers	73,690	77,167
Water & Flowback Services Division | United States
Disaggregation of Revenue [Line Items]
Revenues from external customers	64,711	68,338
Water & Flowback Services Division | International
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 8,979	$ 8,829

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 81,138	$ 79,769
Raw materials	4,280	8,329
Parts and supplies	7,012	6,868
Work in progress	1,855	1,570
Total inventories	$ 94,285	$ 96,536

Investments in and Advances to

Investments in and Advances to Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments in and Advances to Affiliates [Line Items]
Investments	$ 20,386	$ 17,354	$ 13,902	$ 14,286
Total investments	$ 20,386	17,354
CSI Compressco
Investments in and Advances to Affiliates [Line Items]
Ownership percentage	3.70%
Total investments	$ 12,204	8,538
CarbonFree
Investments in and Advances to Affiliates [Line Items]
Investments					$ 5,000
Ownership percentage	1%
Total investments	$ 6,888	6,850
Deferred conversion period	2 years
Standard Lithium
Investments in and Advances to Affiliates [Line Items]
Total investments	$ 944	1,616
Other Investments
Investments in and Advances to Affiliates [Line Items]
Investments	350
Total investments	$ 350	$ 350

Long-Term Debt and Other Borr_3

Long-Term Debt and Other Borrowings - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 179,394	$ 157,505
Term Loan | Secured Debt
Debt Instrument [Line Items]
Long-term debt	179,394	157,505
Unamortized discount (premium), net	5,500	2,200
Unamortized deferred finance costs	$ 5,100	$ 3,300

Long-Term Debt and Other Borr_4

Long-Term Debt and Other Borrowings - Additional Information (Details)		3 Months Ended
	Jan. 12, 2024 USD ($)	Mar. 31, 2024 USD ($) continent	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Feb. 28, 2023
Debt Instrument [Line Items]
Long-term debt		$ 179,394,000		$ 157,505,000
Preferred Stock, Convertible, Conversion Ratio					0.001
Number Of Continents Operated On | continent		6
Repayments of long-term debt	$ 15,200,000	$ 163,215,000	$ 47,362,000
Deferred Debt Issuance Cost, Writeoff		5,500,000
Revolving Credit Facility | Swedish Credit Facility
Debt Instrument [Line Items]
Credit outstanding		0
Revolving Credit Facility | Asset-Based Lending Credit Agreement
Debt Instrument [Line Items]
Accordion feature		20,000,000
Parent Company | Letter of Credit | Asset-Based Lending Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		20,000,000
Line of Credit | New Term Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 265,000,000
Interest rate	5.75%
Line of Credit | Revolving Credit Facility | ABL Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		80,000,000
Line of Credit | Letter of Credit | Sub-Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		15,000,000
Line of Credit | Funded Term Loan | New Term Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 190,000,000
Line of Credit | Delayed-Draw Term Loan | New Term Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Line of Credit | Parent Company | ABL Credit Agreement
Debt Instrument [Line Items]
Bank line of credit, letters of credit and guarantees		500,000
Debt instrument, face amount		79,500,000
Secured Debt | Swedish Credit Facility
Debt Instrument [Line Items]
Bank line of credit, net availability		$ 4,700,000
Interest rate		2.95%
Term		30 days
Secured Debt | Letter of Credit
Debt Instrument [Line Items]
Credit outstanding		$ 1,500,000
Secured Debt | Term Credit Agreement
Debt Instrument [Line Items]
Interest rate		11.17%
Secured Debt | Revolving Credit Facility | Asset-Based Lending Credit Agreement
Debt Instrument [Line Items]
Interest rate		8.75%
Secured Debt | Asset-Based Credit Agreement
Debt Instrument [Line Items]
Credit outstanding		$ 0
Secured Debt | Term Loan
Debt Instrument [Line Items]
Long-term debt		179,394,000		$ 157,505,000
Swingline Loan Sublimit | Parent Company | Asset-Based Lending Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 11,500,000

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 69
Purchase obligation, remainder of 2023	20.9
Purchase obligation, 2024	22.5
Purchase obligation, 2025	16
Purchase obligation, 2026	7.4
Purchase obligation, 2027	$ 2.2

Fair Value Measurements - Chang

Fair Value Measurements - Change in Our Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Investment balance at beginning of period	$ 17,354	$ 14,286
Investment balance at end of period	20,386	13,902
Equity Securities
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	2,994	(184)
Embedded Option
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	(199)	(321)
Convertible Note
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	237	121
(Level 1)
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Investment balance at beginning of period	10,154	8,147
Investment balance at end of period	13,148	7,963
(Level 1) | Equity Securities
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	2,994	(184)
(Level 1) | Embedded Option
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	0	0
(Level 1) | Convertible Note
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	0	0
(Level 3)
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Investment balance at beginning of period	7,200	6,139
Investment balance at end of period	7,238	5,939
(Level 3) | Equity Securities
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	0	0
(Level 3) | Embedded Option
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	(199)	(321)
(Level 3) | Convertible Note
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Unrealized gain	$ 237	$ 121

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Investments	$ 20,386	$ 17,354	$ 13,902	$ 14,286
CSI Compressco
Derivatives, Fair Value [Line Items]
Ownership percentage	3.70%
CarbonFree
Derivatives, Fair Value [Line Items]
Ownership percentage	1%
Investments					$ 5,000

Fair Value Measurements - Marke

Fair Value Measurements - Market Risks and Derivative Hedge Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Total investments	$ 20,386	$ 17,354
CSI Compressco
Derivatives, Fair Value [Line Items]
Total investments	12,204	8,538
CarbonFree
Derivatives, Fair Value [Line Items]
Total investments	6,888	6,850
Standard Lithium
Derivatives, Fair Value [Line Items]
Total investments	944	1,616
Other Investments
Derivatives, Fair Value [Line Items]
Total investments	350	350
(Level 1) | CSI Compressco
Derivatives, Fair Value [Line Items]
Total investments	12,204	8,538
(Level 1) | CarbonFree
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 1) | Standard Lithium
Derivatives, Fair Value [Line Items]
Total investments	944	1,616
(Level 1) | Other Investments
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 2) | CSI Compressco
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 2) | CarbonFree
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 2) | Standard Lithium
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 2) | Other Investments
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 3) | CSI Compressco
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 3) | CarbonFree
Derivatives, Fair Value [Line Items]
Total investments	6,888	6,850
(Level 3) | Standard Lithium
Derivatives, Fair Value [Line Items]
Total investments	0	0
(Level 3) | Other Investments
Derivatives, Fair Value [Line Items]
Total investments	$ 350	$ 350

Net Income per Share - Reconcil

Net Income per Share - Reconciliation of the Weighted Average Number of Common Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Number of weighted average common shares outstanding ( in shares)	130,453	128,940
Assumed exercise of equity awards and warrants (in shares)	1,670	1,035
Average diluted shares outstanding (in shares)	132,123	129,975

Industry Segments - Additional

Industry Segments - Additional Details (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Industry Segments - Revenue, In

Industry Segments - Revenue, Income from Operations, and Assets by Reporting Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Industry Segments Details [Line Items]
Revenues from external customers	$ 150,972	$ 146,209
Income before taxes and discontinued operations	1,295	7,534
Corporate, Non-Segment
Industry Segments Details [Line Items]
Income before taxes and discontinued operations	(19,218)	(17,286)
Completion Fluids & Products Division
Industry Segments Details [Line Items]
Revenues from external customers	77,282	69,042
Completion Fluids & Products Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	77,282	69,042
Income before taxes and discontinued operations	19,792	18,442
Water & Flowback Services Division
Industry Segments Details [Line Items]
Revenues from external customers	73,690	77,167
Water & Flowback Services Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	73,690	77,167
Income before taxes and discontinued operations	721	6,378
Product sales
Industry Segments Details [Line Items]
Revenues from external customers	73,337	65,535
Product sales | Completion Fluids & Products Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	72,753	65,515
Product sales | Water & Flowback Services Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	584	20
Services
Industry Segments Details [Line Items]
Revenues from external customers	77,635	80,674
Services | Completion Fluids & Products Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	4,529	3,527
Services | Water & Flowback Services Division | Operating Segments
Industry Segments Details [Line Items]
Revenues from external customers	$ 73,106	$ 77,147

Industry Segments - Corporate E

Industry Segments - Corporate Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
General and administrative expense	$ 22,298	$ 23,191
Depreciation, amortization, and accretion	8,756	8,670
Interest expense, net	5,952	5,092
Loss on debt extinguishment	5,535	0
Other general corporate (income) expense, net	(3,978)	(214)
Total	(915)	(6,045)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
General and administrative expense	11,102	11,059
Depreciation, amortization, and accretion	81	109
Interest expense, net	6,145	5,460
Loss on debt extinguishment	5,535	0
Other general corporate (income) expense, net	(3,645)	658
Total	$ 19,218	$ 17,286

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event shares in Thousands	Apr. 01, 2024 shares
CSI Compressco
Subsequent Event [Line Items]
Exchanged due to acquisition, shares (in shares)	5,200
Kodiak
Subsequent Event [Line Items]
Received due to acquisition, shares (in shares)	450