TETRA Technologies, Inc. reports news on an energy services and solutions business with operations across Energy Services, Industrial Chemicals and Critical Minerals. Company updates commonly cover quarterly results, Completion Fluids & Products performance, Water & Flowback Services activity, industrial chemicals demand, production testing, and balance-sheet measures such as cash flow, debt and capital expenditures.
News also follows TETRA's expansion beyond traditional oil and gas services into low-carbon energy and critical minerals, including chemistry-based initiatives, mineral acreage and the Arkansas Evergreen Project. Other recurring items include investor conference participation, earnings-call scheduling and strategic updates tied to calcium chloride, bromine, lithium and magnesium opportunities.
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.