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Byline: DAVID SAITO-CHUNG
Rising oil and gas exploration has benefited specialty service firms such as Tetra Technologies.
The company is a leader in well abandonment, which can become a burden if regulatory requirements aren't met. Tetra handles onshore and offshore wells. Tetra also removes oil rig platforms and offshore pipelines, plus sells drilling fluids to boost output.
Hurricane Katrina damaged some of Tetra's Louisiana plants and will likely hurt near-term results. But CEO Geoffrey Hertel noted Katrina will spur strong long-term demand, just as Hurricane Ivan did in 2004.
Like the oil industry itself, Tetra is prone to cyclical results. But it's reported annual sales growth in seven of the past nine years. Sales jumped 45%, 69% and 72% from year-ago levels in the past three quarters. That's two straight quarters of accelerating growth.
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