Sun, Feb 1, 2015, 5:22 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

TETRA Technologies, Inc. Message Board

  • martha.varias martha.varias Sep 11, 2012 10:44 AM Flag

    The acquisition of Greywolf Production Systems for $55.5 million in cash

    CALGARY — A private Crossfield-based oilfield services company is being snapped up for $55.5 million US by a Texas company that craves its North Dakota operations.

    ~Tetra Technologies announced Thursday it will buy Greywolf Production Systems, headquartered in the small town north of Calgary, in an all-cash deal to close at the end of the month.

    ~Stuart Brightman, Tetra’s president and chief executive, said the takeover will cement the Woodlands, Texas, company’s position as one of the largest frack flowback and well-testing companies in North America.

    ~The transaction is Tetra’s third in the past six months_
    and it takes its cash outlay to about $160 million. Tetra posted revenue in the first quarter of $181 million US.

    ~In a note to investors, Barclays services analyst James West said the deal will fill a gap in Tetra’s North Dakota Bakken light oil play coverage.
    “In addition to its strong Canadian operations, Greywolf is a leading flowback testing company in the Bakken, expanding Tetra’s presence in a key oil/liquids basin,” he wrote.

    Sentiment: Buy

4.94-0.13(-2.56%)Jan 30 4:01 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.