| | Following the transaction, it is currently expected that TETRA’s ownership of the Partnership will be reduced to approximately 46%. TETRA will maintain 100% ownership of the Partnership’s general partner, and will continue to consolidate the results of Compressco in its financial statements. TETRA and Compressco will host a conference call to discuss the acquisition on July 21, 2014, at 9:30 am EST. Stuart M. Brightman, TETRA’s President and Chief Executive Officer, Ron Foster, Compressco’s President, Elijio V. Serrano, TETRA’s Chief Financial Officer and James Rounsavall, Compressco’s Chief Financial Officer, will host the call. The phone number for the call is 877/870-4263. The conference will also be available by live audio webcast and may be accessed through TETRA’s website at www.tetratec.com. TETRA is a geographically diversified oil and gas services company focused on completion fluids and associated products and services, water management, after-frac flow back, production well testing, offshore rig cooling, compression based production enhancement, and selected offshore services, including well plugging and abandonment, decommissioning, and diving. Forward Looking Statements This press release includes certain statements that are deemed to be forward-looking statements. Generally, the use of words such as “may,” “expect,” “intend,” “estimate,” “projects,” “anticipate,” “believe,” “assume,” “could,” “should,” “plans,” “targets” or similar expressions that convey the uncertainty of future events, activities, expectations or outcomes identify forward-looking statements that the Company intends to be included within the safe harbor protections provided by the federal securities laws. These forward-looking statements include statements concerning: Compressco’s Partners’ ability to consummate the proposed acquisition; the expected timing of the closing of the acquisition; Compressco Partners’ anticipated financing of the proposed acquisition and its ability to finance the acquisition; anticipated benefits and growth of Compressco Partners following the proposed acquisition, including increases in cash distributions per unit; financial guidance, estimated earnings, earnings per share, and statements regarding the Company’s beliefs, expectations, plans, goals, future events and performance, and other statements that are not purely historical. These forward-looking 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 risks and uncertainties, many of which are beyond the control of the Company including the ability of Compressco Partners to successfully integrate the operations of CSI and the ability to realize the anticipated benefits of the proposed acquisition. Investors are cautioned that any such statements are not guarantees of future performances or results and that actual results or developments may differ materially from those projected in the forward-looking statements. Neither Compressco’s independent auditors, nor any other independent accountants or experts have expressed any opinion or any other form of assurance related to Compressco’s estimates of increased cash available for distribution or their achievability, but in the view of Compressco’s management, these estimates were prepared on a reasonable basis, reflect the best currently available information and represent, to the best of management’s knowledge and belief, Compressco’s expected course of action. However, this information is not fact and this statement should not be regarded as a representation by Compressco that it will pay such increased cash distributions. Some of the factors that could affect Compressco’s actual results and the ability of Compressco Partners to increase its cash distributions per common unit as described above are described in Compressco Partners’ Annual Report on Form 10-K for the year ended December 31, 2013. Some of the factors that could affect TETRA’s actual results are described in the section titled “Risk Factors” contained in TETRA’s Annual Report on Form 10-K for the year ended December 31, 2013, as well as other risks identified from time to time in its reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission. |
