HOUSTON, June 23, 2014 /PRNewswire/ -- Flotek
Industries, Inc. (NYSE: FTK) introduced its Xylene replacement
products, including its FC-PRO-XR product line, at the Independent
Petroleum Association of America Mid-Year Meeting in Colorado
Spring.
"Quite simply, if – as an industry – we are serious about
becoming better environmental stewards, there is no better place to
start than with chemicals that have environmentally friendly
substitutes that provide the same or better performance, even if
the cost is slightly higher," Flotek's Chairman, President and
Chief Executive Office told a capacity crowd of oil and gas
professionals at the gathering at the Broadmoor Resort. "Doing what
is right isn't necessarily the least expensive solution; but it is
the responsible solution."
Flotek's line of solvents is based on citrus chemistry,
specifically the Company's technical grade d-limonene, a
double-bonded hydrocarbon produced from the skins of oranges.
Laboratory and commercial validations show that d-limonene – an
environmentally safe and renewable compound – is as effective as
Xylene and other BTEX-type solvents in eviscerating pollutants that
stifle production in oil and gas wells. Chisholm presented Flotek's
chemistry during a presentation on emerging oilfield technologies
including executives from Halliburton and GE Oil &
Gas.
Xylene – a by-product of crude oil – is a known environmental
hazard, a ground water contaminant and suspected of numerous
negative impacts on human and animal health, In contrast, the U.S.
Food and Drug Administration has determined d-limonene to be
Generally Regarded as Safe ("GRAS") and had been given the
"Designated for the Environment" label by the U.S. Environmental
Protection Agency. As an agricultural by-product, d-limonene is
both sustainable and bio-renewable.
"As an industry we are in the business of providing energy that
makes America work which includes working healthy by balancing
energy development with responsible environmental stewardship,"
Chisholm told industry professionals. "That makes the decision
simple: the use of Xylene and harmful chemistries as solvents can
and should end. Our ability to improve the environmental is as
simple as an orange, replacing Xylene with d-limonene in your
drilling, completion and production activities."
For more information on Flotek's series of Xylene replacement
solvents introduced at the Colorado Springs confab please email
IPAA@flotekind.com.
About Flotek Industries, Inc.
Flotek is a global developer and distributor of a portfolio of
innovative oilfield technologies, including specialty chemicals and
down-hole drilling and production equipment. It serves major and
independent companies in the domestic and international oilfield
service industry. Flotek Industries, Inc. is a publicly traded
company headquartered in Houston,
Texas, and its common shares are traded on the New York
Stock Exchange under the ticker symbol "FTK."
For additional information, please visit Flotek's web site at
www.flotekind.com.
Forward-Looking Statements
Certain statements set forth in this Press Release constitute
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934) regarding Flotek Industries, Inc.'s business,
financial condition, results of operations and prospects. Words
such as expects, anticipates, intends, plans, believes, seeks,
estimates and similar expressions or variations of such words are
intended to identify forward-looking statements, but are not the
exclusive means of identifying forward-looking statements in this
Press Release.
Although forward-looking statements in this Press Release
reflect the good faith judgment of management, such statements can
only be based on facts and factors currently known to management.
Consequently, forward-looking statements are inherently subject to
risks and uncertainties, and actual results and outcomes may differ
materially from the results and outcomes discussed in the
forward-looking statements. Factors that could cause or contribute
to such differences in results and outcomes include, but are not
limited to, demand for oil and natural gas drilling services in the
areas and markets in which the Company operates, competition,
obsolescence of products and services, the Company's ability to
obtain financing to support its operations, environmental and other
casualty risks, and the impact of government regulation.
Further information about the risks and uncertainties that may
impact the Company are set forth in the Company's most recent
filings on Form 10-K (including without limitation in the "Risk
Factors" Section), and in the Company's other SEC filings and
publicly available documents. Readers are urged not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this Press Release. The Company undertakes no
obligation to revise or update any forward-looking statements in
order to reflect any event or circumstance that may arise after the
date of this Press Release.
SOURCE Flotek Industries, Inc.