TETRA Technologies Signs $95M Construction Deal for Evergreen Project
TETRA Technologies' wholly owned subsidiary, TETRA Bromine Project LLC, entered into a Master Services Agreement with Diversified Construction & Design, L.L.C. on June 12, 2026. This agreement establishes the framework for construction, commissioning, and related services for Phases 2 and 3 of the Company's Evergreen Project, a bromine production facility near Stamps, Arkansas. These phases constitute a substantial majority of the remaining construction scope, with approximately $95 million of the estimated $220 million remaining capital expenditures expected to be incurred under this agreement. The contract includes customary terms, performance warranties, and provisions for liquidated damages for delays.
Key Highlights
- TETRA Bromine Project LLC (subsidiary) signed a Master Services Agreement with Diversified Construction & Design, L.L.C.
- Agreement covers construction and commissioning for Phases 2 and 3 of the Evergreen Project bromine facility in Arkansas.
- Phases 2 and 3 represent a substantial majority of the remaining construction scope for the project.
- Approximately $95 million of the estimated $220 million remaining capital expenditures is for services under this agreement.
- Contractor warrants work for 18 months post-final acceptance, but no later than December 31, 2029.
- Liquidated damages for delayed substantial completion are capped at $2.0 million if the agreement is terminated by TBP.
Price Impact
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