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TETRA Technologies announced it will release its third quarter 2020 earnings before the market opens on November 3, 2020. A conference call will follow at 9:30 a.m. ET, hosted by CEO Brady M. Murphy and CFO Elijio V. Serrano, to discuss the results. Interested parties can listen by calling 1-888-347-5303 or via a live audio webcast on TETRA's website. A replay will be available for one week post-call. TETRA specializes in oil and gas services, including completion fluids, water management, and has an equity interest in CSI Compressco LP (NASDAQ:CCLP).
TETRA Technologies will present at the H. C. Wainwright & Co. 22nd Annual Global Investment Conference on September 16, 2020, at 3:00 PM Eastern Time. The CEO, Brady Murphy, and CFO, Elijio Serrano, will lead the presentation. Investors can find the presentation slides on the company's website before the event. TETRA specializes in oil and gas services, focusing on completion fluids, water management, and compression services. Notably, it has a significant equity interest in CSI Compressco LP (NASDAQ: CCLP).
CSI Compressco LP announced it has regained compliance with NASDAQ Listing Rule 5450(a)(1), which mandates a minimum closing bid price of $1.00 per unit. This determination, received on August 17, 2020, confirms that CSI Compressco's common units have maintained a closing bid price of at least $1.00 for over ten consecutive trading days. As a result, the prior bid price deficiency matter is now considered closed by NASDAQ.
CSI Compressco LP (CCLP) reported a net loss of $24.6 million for Q2 2020, which included $15.8 million of non-recurring charges. Revenue rose 7% to $96 million, driven by $17.8 million in equipment sales. Adjusted EBITDA remained stable at $27 million, showcasing robust cash flow amid a challenging environment influenced by a 64% drop in U.S. onshore rig counts due to the pandemic. The company implemented cost reduction initiatives, improving compression services gross margins to 54.9%, the highest in its history. A cash distribution of $0.01 per common unit will be paid on August 14, 2020.