TETRA Technologies, Inc. (TTI)

[TradingCharts]

Looks like I chased this rabbit in the past.

THE WOODLANDS, Texas, June 26, 2023 /PRNewswire/ -- TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:TTI) announced that it has entered into a Memorandum of Understanding ("MOU") with Saltwerx LLC ("Saltwerx"), an indirect wholly owned subsidiary of a Fortune 500 company, whereby they will pool certain of their respective brine mineral rights in Arkansas' Smackover Formation, in support of an application for an approximately 6,000 acre Brine Production Unit ("Brine Unit") with the Arkansas Oil & Gas Commission ("AOGC") and potential bromine and lithium extraction from the brine produced from such Brine Unit.

Contingent on Brine Unit approval by the AOGC, TETRA and Saltwerx have agreed to collaborate in key areas, including upstream design and development to optimize long-term brine production, technology development for lithium extraction, and associated engineering studies required to develop the proposed Brine Unit. As part of the MOU, subject to AOGC approval of the Brine Unit, TETRA and Saltwerx have agreed to work together to negotiate operating, joint venture and/or joint development agreements relating to the development of the Brine Unit.

Additional information may be found in the current report on Form 8-K filed by the Company on June 23, 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/844965/000095017023029677/tti-20230619.htm.

https://ir.tetratec.com/2023-06-26-TETRA-TECHNOLOGIES,-INC-AND-SALTWERX,-LLC-ENTER-INTO-A-MEMORANDUM-OF-UNDERSTANDING-REGARDING-A-PROPOSED-BRINE-PRODUCTION-UNIT-IN-THE-SMACKOVER-FORMATION