EPIC Offshore Specialty, LLC Has Agreed to Acquire the Offshore Services Division of TETRA Technologies, Inc.

HOUSTON–(BUSINESS WIRE)–EPIC Offshore Specialty, LLC (EPIC) is pleased to announce it has agreed
to acquire the entire Offshore Services division of TETRA Technologies,
Inc. (NYSE: TTI) (TETRA). Specifically, the businesses to be acquired
are the diving (EPIC Diving and Marine Services), heavy lift,
specialized cutting (EOT Cutting Services), rigless well P&A, and
consulting (TSB Offshore) businesses of TETRA. These businesses provide
offshore decommissioning, construction, installation and maintenance
services to customers in the U.S. Gulf of Mexico and other markets.

At the close of this transaction, EPIC will become an independent
company backed by a $1.0 billion private company. EPIC will retain the
same leadership, employees, assets, quality and safety standards, as
well as all certifications.

“We are excited about our new ownership and what this means for the
future of our company. Serving our customers in the offshore
decommissioning and construction sector will remain our foundation. In
addition, we will have the capabilities to offer a broader range of
products and services and a more extensive geographic reach,” said Peter
Pintar, CEO of EPIC. Pintar further stated, “We have always been
committed to safety and service excellence; that will not change.”

EPIC will continue to operate from the existing facilities in The
Woodlands, TX, Belle Chasse, LA, Houma, LA, Broussard, LA and Port
Fourchon, LA., as well as maintain the operation of major assets
including the Derrick Barge Hedron (1763T), the Derrick Barge Arapaho
(800T) and the Saturation Diving Vessel, Epic Explorer.

With the completion of this acquisition, EPIC will become a full-service
provider to the global decommissioning, installation and maintenance
market. EPIC, formerly TETRA Offshore Services, will continue to be
known for environmental stewardship, customer service, outstanding
safety and operational excellence.

Contacts

EPIC Offshore Specialty
Bryan Blum, 281-364-4366
[email protected]