Attached files
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| EX-99.1 - EXHIBIT 99.1 - TETRA TECHNOLOGIES INC | ex99_1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM
8-K
CURRENT
REPORT
PURSUANT TO SECTION
13 OR 15(d) OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of report (date of earliest event
reported): October 14,
2009
TETRA
Technologies, Inc.
(Exact name of
registrant as specified in its charter)
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Delaware
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1-13455
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74-2148293
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(State or
other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
incorporation)
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Identification
No.)
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24955
Interstate 45 North
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The
Woodlands, Texas 77380
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(Address of
Principal Executive Offices and Zip Code)
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Registrant’s
telephone number, including area code: (281)
367-1983
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item
8.01. Other Events.
On October 14, 2009, TETRA Technologies, Inc.
(the “Company”) issued a press release announcing the settlement of essentially
all of its claims in the lawsuit filed in Montgomery County, Texas, entitled
Maritech Resources, Inc. v.
Certain Underwriters and Insurance Companies at Lloyd’s, London subscribing to
Policy no. GA011150U, Neuman, Martin and Buchan, and Steege Kingston, in
which the Company sought damages for breach of contract and various related
claims and a declaration of the extent of coverage of an endorsement to the
policy. Under the terms of the settlement, the Company’s subsidiary, Maritech
Resources, Inc. (“Maritech”), will receive approximately $40 million
in cash against claims related to damages incurred as a result of
Hurricanes Katrina and Rita in 2005. The payment is expected to be received
within the next 30 days, which will bring Maritech’s total insurance recovery
related to 2005 Hurricanes Katrina and Rita to approximately $136 million. The
Company expects that there will be a positive income effect from the settlement;
however, the timing of such income recognition has not yet been
determined.
The press release issued by the Company on
October 14, 2009 with respect to the settlement is attached as Exhibit 99.1 to
this Current Report on Form 8-K and is incorporated in this Section 8.01 by
reference.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit
Number
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Description
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99.1
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Press
Release, dated October 14, 2009, issued by TETRA Technologies,
Inc.
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1
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
TETRA Technologies, Inc.
By: /s/Bass C. Wallace,
Jr.
Bass
C. Wallace, Jr.
General
Counsel and Corporate Secretary
Date: October 14,
2009
2
EXHIBIT
INDEX
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Exhibit
Number
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Description
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99.1
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Press
Release, dated October 14, 2009, issued by TETRA Technologies,
Inc.
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