TETRA Technologies Inc. (NYSE:TTI), an oil and gas services company,issued its earnings forecast for 2012, in line with Wall Streetprojections.
The Woodlands, Texas-based company expects earnings? of $0.70 to$0.90 per share from continuing operations attributable to TETRAstockholders. Analysts' expect the company to post earnings of 78 centsper share.
The company said the earnings outlook reflects anticipated improvement in each of its service segments in 2012.
"During 2012, we expect to benefit from the continued strength ofshale-related activity onshore in the US, improvements in completionactivity in the deepwater Gulf of Mexico, continued strength in Mexicoand increased activity in other international markets, and improvedconditions in the Gulf of Mexico abandonment and decommissioningmarket," said chief executive Stuart Brightman.
TETRA said its Offshore Services segment is dealing with typicallyslow fourth quarter activity in the Gulf of Mexico and the added impactof unusually poor weather conditions.
"We do expect that the Offshore Services segment will experience avery weak first quarter in 2012 due to typically poor seasonal weatherin the Gulf of Mexico and our need to dry-dock several assets for theirperiodic maintenance and inspections," said Brightman.
The stock closed 6.4 percent higher at $9.94 on Tuesday.
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