Tetra buys frac flowback unit for $42.5m

Done deal: Frac flowback business Eastern Reservoir Services changes hands in $42.5m deal

Tetra Technologies has spent $42.5 million cash on acquiring Eastern Reservoir Services, the hydraulic fracturing flowback services provider of fellow Texas company Patterson-UTI Energy.

Established in 1985, ERS provides frac flow back services to operators in the Marcellus and Utica shale plays and the US Rockies from operations in Pennsylvania, West Virginia and Colorado.

Tetra chief executive Stuart Brightman said the buy would as a “good cultural fit” with the company’s own frac flow back and well testing activities in the Eagle Ford, West Texas, the midcontinent and elsewhere.

Patterson-UTI said it expected to report a pre-tax gain of around $20 million in the second quarter from the transaction. 

Woodland, Texas-based Tetra is a services player focused on completion fluids and other…

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