Introduction
Tetra Technologies, (TTI) is a micro-cap (sales less than a billion dollars annually) provider of specialty chemicals and services to the upstream oilfield. They have a long and storied history as a plucky company that carved a niche in completion fluids services that larger drilling fluids companies had not properly addressed. As these companies adopted practices that TTI pioneered, the lines that initially set them apart became blurred, and TTI was forced to branch out into other businesses to stay in afloat.
A decade or so ago, Tetra adopted the General Electric,