TETRA TECHNOLOGIES INC 8-K

What Happened
TETRA Technologies, Inc. (through its wholly owned subsidiary TETRA Bromine Project LLC) announced on June 12, 2026 that it entered a Master Services Agreement with Diversified Construction & Design, L.L.C. The Agreement sets the contracting framework for construction, commissioning and related services for Phases 2 and 3 of the Evergreen bromine production facility near Stamps, Arkansas. The filing notes that Phases 2 and 3 represent a substantial majority of the remaining construction scope for the Evergreen Project.

Key Details

• Agreement date: June 12, 2026; counterparty: Diversified Construction & Design, L.L.C.
• Remaining estimated Evergreen project capital expenditures (as of March 31, 2026): ~$220 million; expected to incur ~ $95 million in construction costs under this Agreement.
• Work will be issued by task-specific work orders (fixed-price or rate basis); Contractor warranty: 18 months after final acceptance (no later than Dec 31, 2029).
• Termination and penalties: TBP may terminate without cause on 30 days’ notice (contractor entitled to demobilization/subcontractor cancellation costs + 5% of unpaid contract); liquidated damages for delayed substantial completion accrue tiered per day with a cap of $2.0 million if TBP terminates the Agreement. Company maintains builder’s risk and owner-controlled insurance.

Why It Matters
This agreement covers most of the remaining construction work needed to advance the Evergreen bromine facility and commits a material portion of the project’s remaining capital spend (~$95M of ~$220M). For investors, the contract clarifies the primary contractor, cost mechanics (work orders can be fixed-price or time-and-materials), timelines and risk allocation (warranties, insurance, termination rights and a limited liquidated-damages cap). The filing also reiterates that project completion remains subject to previously disclosed conditions (including final financing and a final investment decision), so execution, cost and timing risks remain.