TTI - Earnings call transcript Q4 2021 | TETRA Technologies, Inc.

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Operator

Good morning, and welcome to TETRA Technologies Fourth Quarter and Full Year 2021 Results Conference Call. The speakers for today's call are Brady Murphy, Chief Executive Officer; and Elijio Serrano, Chief Financial Officer [Operator Instructions]. Please note today's event is being recorded. I will now turn the conference over to Mr. Serrano. ahead. go Please

Elijio Serrano

may which Good to Fourth Rocco. I assumptions uncertainties, These thank for a be conference you like may are Thank deemed be These factors. number and morning, certain made Full TETRA's to call this beyond a that Quarter remind of Call. statements TETRA Year joining that and and to are subject or risks you, forward-looking. you and number contain XXXX would are of of statements on and control by many of statements analyses based the are on the are based company. Results

forward-looking are that are that differ those may You of the future from not actual such statements. results performance, and statements materially cautioned in guarantees projected

of the measures. we EBITDA, call, yesterday's in refer addition, flow, may accordance gross reconciliations adjusted the financial in are of of EBITDA, financial the press site for adjusted on substitute debt, public free the These GAAP should considered prepared a course non-GAAP information within Please to net results non-GAAP nearest the reconciliation other complete margins, Web cash EBITDA be financial period. adjusted context for our GAAP not measure. to release and with our or refer liquidity In to measures for financial

over refer it to our turn XX-K our to that to Brady. yesterday, out that, was you I'll addition In yesterday. encourage press release went announcement we filed With that to

Brady Murphy

then cash on carbon quarter before and it liquidity. XXXX to to for fourth some Call. outlook back summarize Fourth and balance discuss initiatives Thank flow, and I highlights to Good you, Quarter and and Elijio. sheet Earnings energy provide Full our Year everyone, Elijio TETRA's turning morning, update the welcome the over low an current will

year of thanking quarter Despite including solid by COVID-XX TETRA employees start year our we a of given all results faced, a all the freeze of mark-to-market the year the last and fourth delivering finished inflation, XX% flow, the and from first a results, adjusted in the and strong start CSI including Standard hurricane. strong extraordinary third since record-breaking quarter another headwinds with this, devastating second cash Compressco best we fourth of Lithium quarter operating pandemic, me seven unprecedented number quarters of for EBITDA Let quarterly not a momentum gains and margins operating in the quarter positive of and pandemic. the

$XX revenue. million the million For EBITDA in of on delivered year we $XXX XXXX, adjusted

on grew fourth execute stronger oil the to quarter well downturn and EBITDA prior adjusted high-growth of logistics much continued quarter for in were to largely million million industry severest face $XX XXXX outstanding XX% With adjusted flow, of are able the inflation in significantly and of despite XX% strength COVID-XX. cash a from and recovering out fourth us, downturns. we the pandemic reduced importantly, the XX% sheet, transition from a free two balance the improved drop achieve energy over coming to revenue of XX% past challenges. Revenue generated and total positive behind EBITDA We market. average last we in $XXX our years, in gas the the a year-on-year. of and debt an two the sequentially -- resiliency the improved a company nearly positioned again in margins global and model the as shows with business But the of of impact years, and for This before opportunity the

with lower we pre-pandemic proprietary technology million past business management count term XXXX, of the generated since the loan the such quarter of were the fourth $X.X XX again through XX% of pre-pandemic adjusted XX.X% adjusted as reduced margins the $XX reflect $XX numbers quarter impacts unrealized was We rig the basis total quarter pricing again, fourth market as technology, in down water, respectively, for only Excluding adjustments adjusted efficiency of the realized CSI best and the revenue of to cash recovery significant the and and the much from a on quarter pre-pandemic points improve $XX.X X% of activity XXXX. focused XX% & by million quarter Fourth million flow our -- our EBITDA and for Standard Overcoming produced period. over a These on through XXXX. and same the first frac sequentially of from fleet ongoing the the free highest EBITDA projects. million third by levels. our Lithium able this gains, negative And a third treatment water count, record of and for down Water XXX recycling mark-to-market the our and another Compressco, XXXX. leading was active Flowback this quarter COVID-XX from from seen since first time and strength This US results strategy Steel quarter fourth share XX% was from integrated revenue has increased two the to the automation of of and quarter. comparing years. compares TETRA improvements, XX% inflation, sequentially to Sandstorm quarter EBITDA quarter

bright Regarding XX fourth customers the most share Sandstorms, new which unconventional continues outside market a in of be in active Argentina XXXX, quarter. of were gained spot US. gained XX as to the the we

In deployed XXXX, Sandstorms additional of impact that our fully quarter in will beginning awarded to current in second the which those production facilities. also facilities of part positively include and Argentina, Sandstorms early as we us were addition two will significant

demand water to interest recycling the midstream for a chemistry good the the with is growing this aqueous core for Products fourth in awards recovery international and mentioned quarter Mexico I'm strong Overall, Services from and are next in our into the opportunity. revenue performance adjusted new are we previously from on produced in our improvement we to business. as Completion area & recovery continued we in addition experience extracting in year-over-year our from & pleased frac minerals also increased produced our XX% the a seismic I'm Fluids products demonstrates business areas, deepwater minerals both will market interest Gulf previously competency Mexico. top surpass XXXX we of the in stronger manufacturing margin optimistic with extracting of we of due fit a a target disposal key key increased the and hurricanes XX% and heading than significant a Water part XX% reuse, of EBITDA XXXX. operators with level sequentially In and in And much saw from Flowback activity Gulf increased companies seeing earlier and from TETRA's the of such water. anticipated.

we Our QX market of Eastern Hemisphere than forward. improved is going doubled activity energy and international believe services indicative from revenue more

Although calcium and QX our even contribute for of stronger had revenue changed for mild to quarter chloride weather in first and our the January sales, favor seasonal has February will dramatically weather XXXX.

of despite the Fluids adjusted raw XX.X% sequentially our benefit of the with mark-to-market XX% EBITDA and XXth This for Products double-digit quarter EBITDA the energy margins. materials, adjusted over margins increased of & the Excluding XX% EBITDA of prices gains, across plants straight represents inflation global Completion most realized logistics.

the job quarter quarter double-digit look zinc expect quarter over S PureFlow XXXX, from further a sales bromide for in strong a a we with Western storage. the chemical agreement fourth ramp-up the for energy of which of over a by completion As our our CS U the quarter. Sea, recovering new Neptune industrial -- is and gas we the supported chemicals We and second growth North first oil from double-digit fourth secured customer a one for for five-year scheduled first-generation market the towards distribution and sales, recovering

outside seen As a CS in typical what be Mexico. it reminder, of the capacity of we chloride smaller in of continued but third Sea increase in Mexico, on have of Neptune XX% Europe is in a quarter job be track investment acceptance the technologies an for the XXXX. mentioned the of Gulf of considerably plant for than The the indication Northern in calcium completion previously North to our will continues production historically Gulf

to In deepwater forward. we years for XXXX, that over believe have deepwater for I second our later yet showing drillship Sea compared For considerable of wells rig production for demand our outlook CS XX the growth to the for deepwater on challenges activity case, customer prices. continue recovery XXXX of the XXXX every ultra-deepwater for deepwater still mentioned do first to pipeline in US XXXX we the growth that well. than discussions is compared past to oil to has the the CS the on XX,XXX tracking of lower customer fact projects project pipeline a year. is allowed. much some the period even the pre-pandemic on jobs This the will That be But project active shale at is global supply been gas the patents the year an come. the XXXX, our given nearly Other do early in are project well. be key potential scheduled with the XXXX. for impact not from active North Considering dialogue that Neptune project every current these But And support of granted years by we PSI-rated years. there full quarter the CS customer confirmed expect drillship to that continued from peak, to followed projects oil key and this In found that encouraging patents year gas we that and Neptune new timing scheduled is additional slowed have to XX% chain meantime, changing now of was as dramatically IP review is the XX the additional paused nearly pipeline. and signs as again. and below this second is moving XXXX seems previously, the in in drillship to beyond, a QX Neptune We the the time as by pandemic position have at projects or Gulf strengthen Mexico supported and two count we

$X gigawatt from end of than revenues provider recent quarter XX% with sustainable QX the chemistry to utilize to $XX booked of to supplying enable translated for initiatives US To the innovative in On we systems. globally $X.X of This in gigawatt pace. a billion chain XX, Eos rapid third business with of capabilities with million core our well they PureFlow perspective, will storage $X.X pipeline the be US announced -- high-purity competency their Energy, orders. strategy TETRA's with a battery. partnership From bromide their Eos' annual the solutions. call, opportunity billion equal continue into support supply or our energy a manufacturing energy of of industries. low-carbon would PureFlow at carbon efficient $XXX more XX hours energy and put aqueous zinc XXXX progress increased the for hours low also at to aligns backlog partnership zinc-based zinc December volumes safe, in zinc energy XXXX this manufacturing the Our of to and earnings our storage our million scalable, to production increasing long-duration leading from million all long-term bromine Eos energy XXXX, aqueous XX of current Eos They storage.

XXX% strategic the to lithium in long-term end-of-life drilling For the and plans. our us Arkansas parties, leases is this to leases on electrolyte, well important relationship Arkansas area a and for brine with of reason, recycle where our an collaborative along retains currently We're brings exploratory both the ability TETRA rights. bromine which our

for this our well for these expect conversion substantial second X.XX on as From We we bromine will us technology. volumes COX and the Antonio participate target elemental data equivalent. of expect preliminary and to of to and volumes CarbonFree we plans global capture supply to enable part plant. fluoride a close will business current target With for X.XX upside key the in and inferred of month equity to and carbonate signed a allow calcium expertise of production calcium COX for some $X December million production lithium be SkyCycle turn an SkyCycle as proprietary requirements PEA, chemistry. chloride of partnership. then source over intellectual comments additional a calcium in of process successfully questions. large provide and solution report In to to of chloride, satisfy assessment, or resources joint to our of the exploration invested its we'll necessary CarbonFree, lithium to This in will bring provide the bromine advance SkyCycle its jointly And XXX,XXX leadership expect CarbonFree pilot Elijio company, information commercializing produce of working acreage. continues tons the agreement COX from to million this requires it to in to with make completed gain to exploration This the some relationship, that, mineralized technology. some its network I'll results, and we and calcium with TETRA technical tons XXXX, technology chain open our million progress property quarter color, initiate economic long-term carbonate XX,XXX continue San in and and And to chloride. CarbonFree capture COX-free a mineralization

Elijio Serrano

quarter a Loss Fourth operations adjusted the the quarter quarter significant in of of share from per Brady. a loss loss in share per $X.X compared earnings was last were continuing million year. improvement $X.XX from breakeven fourth the XXXX. to you, fourth $XXX,XXX, Thank of

is During the our own mark-to-market a resulted in also adjusted EBITDA we quarter included loss units the million of EBITDA. fourth in Standard Compressco. the the CSI The the we that in gain included of million own unrealized $X.X a fourth fourth quarter in of quarter, a $X.X two Lithium, The was that in realized million fourth we adjusted $X.X shares net in that to sold quarter. the benefit common which on

mark-to-market adjusted was in EBITDA gains in recall, Compressco. Lithium both from third reflected unrealized the Standard $X.X CSI million quarter, the you and As

we accounts own our fourth no unusual ability units for current Standard the In XXX,XXX continuing the flow have million sold sold proceeds of was the sequential of an after was we quarter. asset. shares that at on from still XX% a filing, increase cash over net that benefited in free X-K the we million results monetize we expenses reminder, filing in X.X of compared Compressco $XX.X the from income. $X.X at quarter shares issued, earlier of CSI Lithium fourth million X.X of nonrecurring today in operations a mentioned sequential in We in million of restrictions quarter X.X receivable $X.XX. shares. in quarter had we free In the $XXX,XXX from $X.X sale $XX million shortly to a million the that quarter slightly monetized the As X-K and X.X And Fourth average common that from X-K excluded million with price announced back that shares this cash despite we adjusted Standard price the $XX.XX totaled other nonrecurring flow own. we items value total, we increase to on Fourth Lithium million, share revenue. the had

million, capital Standard Lithium at Lithium. These with proceeds end million sale are that share, received end received be that approximately be cash be at before shares April in the top $X.X from in to million of we year to of receiving year-end At Standard $X.XX addition Standard to of of reflecting $XX.X that Adjusted the was the option have expect agreement Lithium. we value Working million, free the of a Lithium $X of received part We million of the another the shares was $X.X of of the cash XXX,XXX cash December. end $X.X Standard shares on per the the flow as December of of an of XXXX. from shares will XXX,XXX December. for we the change

while common enable when investment end million was from capital as monetize stock. And SkyCycle $X can markets $X December, convertible CarbonFree $XXX the in upside invested And working as the the cash high converts participate technology. free third of was $XXX back. million net million down we note in year outstanding equity slows debt of a flow mentioned, business $XXX recall of if the generate into pull we end significant from will down, of million when a quarter their the commercialize carbon to CarbonFree as you XXXX of form in at our goes in Brady we XXXX, public, As the million. at they Total the us that debt capture

our quarter our year. in in by loan interest term fourth sale by reduced XX% the using the has have with least the We communicated. at reduced loan previously the in primarily The million million we Standard proceeds expense $XX reduction from Lithium, term a our shares consistent annual $X of what

the improved term proceeds ratio and quarter the of the As X.Xx, in since which Lithium net a is of improved lowest XXXX. EBITDA, from to loan, have the reduction debt third of the sale Standard result we our the

have fourth the $XX availability Liquidity on our $X was and end million. We less at than the million], unrestricted quarter [$XX was as [$XX quarter, of our of At of $XX facility fourth million]. February million under end asset-based outstanding the credit revolver. end the cash million the of was

opportunities having [Technical to within borrowing with the meetings towards promising Arkansas We Department chloride Energy. have down have the most and date, calcium capital, expand production energy support invest our bromine had and source in for departments loans. Department carbon bringing been been To grants have into the cost Difficulty] individuals virtual in we very aggressively to the create Energy, discussions Formation and as initiatives low-cost different three with we market low we exploring Also lithium of preparation and assets of paying facilities to debt or CarbonFree. move to Smackover capacity to potentially

carbon our [Technical lithium the battery resources have the Difficulty] lithium us further and are spend capital bromine initiatives $X will towards move loans storage some CapEx to to complete further the million grants assets the quantify various and Arkansas. we with the mentioned and and revenue, to preliminary apply to we steps assessment economic flow for returns we Arkansas. Arkansas. us lithium to the developing our as investments discussing. We refine and PureFlow will studies our conduct EBITDA, bromine that required million tightly inferred for in that of advance capture assets between Brady taking on been in in well $X.X exploratory target help define will and the help define year, to drill from more that and then expect potential and This We to cash assets PEA related This assets

announce target publicly of PEA complete. will the We results they the are the incurred resources and when

we Finally, our reached that on our year. of Gulf agreement hurricane damage that properties with a claim underwriters last for insurance sustained of one Mexico

and result, cash $X.XX we news this million With that encourage additional issued yesterday supporting we the to night and further position. of filed everyone As that that, release for our XX-K expect and a liquidity with cash financial proceeds that March We receive will details read turn let improve the of it over to operational in comments. we to our me last all year and Brady metrics. closing

Brady Murphy

Thank you, Elijio.

overall, segments we ahead closing, storage company pre-pandemic minimal deepwater the these shale ago. we supported capture and strongest earlier, We're over are that of conventional lithium, profitable our for energy our we're one years. activity of had markets, will and improving we levels. since improved more were sheet But Both on And than with metrics improving expect believe a results markets few well financial capital very activity Argentina significantly from importantly, years a positioned and pre-pandemic announcing business low since well and with energy US what discussed business approaching quarter. coming In strong we and year we despite growing stronger much generating challenges carbon diversified in So the are more emerging a additional just [Technical results is investment. initiatives, grow rapidly Difficulty] our carbon on balance XXXX. outlook we for

to So with questions. open it you. that, we'll Thank

Operator

first And Stifel. Gengaro today's from Instructions] Stephen comes [Operator with question

Stephen Gengaro

thinking to -- as the mean, I to arrangement Is just you million an million start wanted input has people but when have think that with a them if we some two, Just I and $XXX not think imagine million and to I the $XX your pretty -- to in they're for on I'm $XX doing. sort 'XX, with expect I revenue about about entity give the if about 'XX, you color. do consensus or think be -- it Eos. in was trying curious of you based Eos. revenue I in for that us product maybe you cost Like big translates to correlate to And guys? are what we could right

Elijio Serrano

Eos' or revenue don't will of we our comment on the that in increase revenue. be But sale coming And in increase years in that to we clearly want expectations the what believe increase to consensus if clearly they proportionate are. proportionate the PureFlow

by to, they're from for $X magnitude. million of argument, this if we're expect to So going same the that we going it, sake the million call $XX increase year

percent they a Now of as not but the as also and goods of or we represents we're have not to PureFlow are of meaningful a us we percent what revenue, to cost percent think number. part that a privy sold of divulged of

Stephen Gengaro

you the others. then remarks. And One bit this opening in is, touched a little on two and

$XX had and fluids slipped Your margins a a sequential bit. increase in the million revenues, business

on I think you went you shakes think recovering with basis it's about just [Technical margins raw adjusted doing down And And points how the Difficulty] XXX so like you how line. higher pricing? going talk think but are out EBITDA costs can that I forward? about materials, those

Brady Murphy

pricing our would in getting drop Energy completions quarter, out. nearly increases the in on small of fourth all margin and costs, bit all got out And double-digit in ahead able in pricing that customers. of the say in of our the our ahead of was inflation was I us cost So we raw it materials fourth logistics, being a see get quarter, terms us range. the a kind did with little improvements of Stephen. in and global terms our inflation-related, to

somewhat, continue the to ahead flattens on I think pricing were out QX, side. as doesn't inflation least we into grow at we getting assuming go

then margins going the inflation So And how just or as hopefully, we down, to to of stabilizes half to and from improve we QX expect have QX. starts second go the our year that we'll out. either see plays do how in

Elijio Serrano

And sales. also to Northern million pattern $XX peak we've And historically for our seasonal calcium that the been the historically, second in any increase million and sequential And remind range, year. add seen moving Europe the QX. we EBITDA quarter QX a Brady, $X impact I'll don't and everybody is this chloride about has that see shift in

we've a we So improvements. think, quarters, couple good got of coming up to demonstrate sequential

Stephen Gengaro

million, Elijio, just about said EBITDA? And or you $XX in revenue $XX million

Elijio Serrano

That's seen correct. have we what historically with That's ramp-up. the

Stephen Gengaro

-- would And going there see should continue as incremental we one be imagine the on go final had should land some then EBITDA have you XX%, to water third obviously, And as I kind mimicking that there? in of US think quarter. just 'XX a XX% The range side? Should has just business but you -- international growth kind one. if what's very of your good stuff margins about through you we

Elijio Serrano

three, the traction to technology. business Sandstorms the gaining We're of we We're seeing year. that mentioned. for Latin out think, and margin also America the gaining We're are traction we All press communicated pricing. set goal with Brady of with to ramp-up going contribute release in in we that XX% this Sandstorm a this

Stephen Gengaro

growth fluids Did you And in sequentially? quarter first double-digit just the say clarification. a

Brady Murphy

numbers Elijio said, $XX million. that QX. we'll from quarter, discussed, over then up And the as European see second revenue the Yes, Elijio our ramp

Operator

ISI. next with from And Samantha question Hoh Evercore our comes today

Samantha Hoh

of think the how CapEx business. lot the larger last year CapEx of kind your CapEx growing went wondering with the production you're space Question water awards towards studies, [Technical early contract, in the I really But about just plan. capacity again? two I'm to Difficulty] Argentina expanded for much a we have growing And the

Elijio Serrano

in The flowback majority EPS Sandstorm-related targeting XX secured or been very the profitable and payback significant they two doing or the is South water America. of past. we announced related we America the And we're in management EPS that because have historically us on our of that better. everything in months around And else additions North for are either

America up So that XX with capacity at less. months we we do some believe expansion coming have North in or paybacks

Samantha Hoh

is what America lithium of in market for sense Any Difficulty]? North your share [Technical

Brady Murphy

Just just market Sandstorm share or Water on to you asking were Flowback? & clarify, overall

Samantha Hoh

Both have if you that…

Brady Murphy

combined are production encroach assets we're with is North on America. say is we assets So there's quarter that. and now the of I with traditional management still up to replacing fairly customers. we're as the market that PT Sandstorm probably and indicated lot in testing we XX production fourth overall Sandstorm. the amount testing also would And or of of Sandstorm we're below new a XX,XXX traction significant sand And growing gaining Sandstorm in continuously share. continuing XXXX XX% picked we traditional a when But rapidly even Haynesville our penetrating units. in

in where market And in overall we around following, share share number position depending or market certainly that a very we of but America. then So have day two we and North it are that Basin, to in strong expect across Permian we which Overall, we are basins X traction a that in crews America, continue the North terms following. strong a crews Flowback, X frac the strongest believe on our that share Argentina. market is from also position in Water number of varies the &

Elijio Serrano

traded and given gas capital operators. contributed a that publicly at and the on nice I would growth and we add have to in That with gas oil of picking share our the And the up and inroads margins, also sector quite in Samantha, make discipline that and also companies, I private that organization our market good made the to margins. oil private trips the seen Brady have has bit in operators Matt revenue the and field,

Brady Murphy

market that's have have. where position. the we follow-ups we management or we count side water sourcing integrated freshwater disposals don't Samantha, have services, or to assets. is on depending current just the type clarify, share our surface, on believe said, we either And further where of pure strongest X And I in in it's water, infrastructure as our that just Basin But we whether it participate the pipeline frac X Permian the

Samantha Hoh

produced like of And wondering little comments going extracting heard a the what that in terms That's [Technical kind of more on arena? was bit from Could around first I give Difficulty] I of is [Technical being explored. anything Difficulty] your details water. maybe in that you

Brady Murphy

As of you energy security those that particularly key a have minerals, know, to is transition. US the looking the enable supply

are that obviously multiple commercial with them there at some list. we've really would it commercial some and their are to the water of very is well top levers. evolve we're minerals trend these produced at been the But Others encouraged at that levels, as had to that minerals engagement -- with. going So being determine it's in that see that out produced. produced of to other market of midstream We've much, with. very are I waters them operators new the growing of They're water, not lithium of a of the analyze companies the think the be you're waters, key some but in pleased so as not and commerciality a are produced produced encouraged with

Samantha Hoh

surface the apply be able to equipment your So [Technical Difficulty]… actually extract and on you'll

Brady Murphy

Correct.

Samantha. We have great expertise in that area,

Samantha Hoh

Difficulty] the curious into given thing if XXXX, expected Sea that into XQ. the North Difficulty] region was to that [Technical North in and having on demand you is sales [Technical year. that guys really are is I the dialogues for other The CS Neptune next Sea

at what customer wondering of guys and having base are advanced outlook discussions you with stage. kind the Just this sort of

Brady Murphy

they're Gulf different separate multi-well, impact those horizon, views have long And of are but Mexico ultra projects, time I'll are pressures projects dollar financial that profile. to specific market, also opportunistic are fit really opportunities, more spot-type on high-pressure more are if a significant but more into The very projects. and more development The Neptune run customers The are we're very a TETRA Sea-type where that successful. have that. they into the North There Neptune opportunities. mature longer-term, deepwater, two some

projects, I So a them call-out some from the of a market outlook markets, major Sea would different very somewhat Gulf in consider more different but opportunity Mexico is of that. with North

Samantha Hoh

Neptune? closer able mean, have the or you in production that to to your market from you Gulf And move are to you facilities? I can from source supply do

Brady Murphy

the Memphis Aberdeen around weight Memphis in up lower West can product facility our the our Arkansas, of have Neptune Arkansas. world. other North facility. produce core the comes do or Neptune that We Sea production lending out bases of in But we from our Well, some at offshore the or to product West in we weight

Operator

is today Stifel. with from a Gengaro Stephen question next Our follow-up

Stephen Gengaro

Two in sounds thinking of just just Europe like wanted see of job was off pace seasonality I to you the a and mentioned, am about in given Fluids things. XQ -- the rise I just the it sort I But year. thinking EBITDA you those your earnings it given pieces? the about side, throughout in CS two I could Neptune steep very fluids the mean, Completion correctly?

Elijio Serrano

Yes.

Stephen Gengaro

EBITDA. seems And $XX in the are want on million take, I that it with But I for that's and consensus you cetera. or ballpark? the probably costs, in to this, but don't like on specifically the is, comment do know puts et there you takes year know give are some think going

Elijio Serrano

Stephen. way, this it answer me Let

whole has a the oilfield group services as moved from I away think consensus.

the five, beneficial. future far to last learned over so that beyond forecast moving that into is control six there's the not parts many trying our that have years We

in and improvement out QX with What with gas nice out view. the you us over feedback lay what's side and very the good first good we a those customers the say global looking and us recovery we up give from step quarters going nice the recovery you of parameters, we're year based pull-through. in discipline a fairly at for talked the to buy and war the the you like that from whether our second all with Ukraine for capital our in coronavirus, is If probably on about, total operators, the number getting happen oil economics, on what's lay sequential QX revenue we're a can that is front of

Beyond that from will think we pure anything is QX. I and speculation beyond refrain

Stephen Gengaro

of sort what you the on and that And is of I though, of land US the completion on activity ballpark. the follow-up, us to revenue of in pace just how the part calibrate about one think was remind Could percentage should that just that, we trying US which waterfront. doing business. is just

Elijio Serrano

a half US being be So EPS Argentina, of predominant picking in the predominantly plus back the into moved and think it. But we're with will Argentina, the up I today, part of the But part the that the of business. part of we Sandstorms we're US also that significant more with those U.S. year, Argentina has been meaningful the our it.

Operator

question-and-answer turn like the concludes back This conference I'd to session. for any today's closing over Murphy Mr. to remarks.

Brady Murphy

Thank our Thank for call. you, very Rocco. much This your concludes call. interest and XXXX ends our That earnings quarter fourth participation. you

Operator

you all Thank call. concludes We conference your sir. today's for This thank participation. you,

lines, now a You disconnect may wonderful have your day. and

TETRA (TTI) 1 Mar 222021 Q4 Earnings call transcript