HOUSTON, Jan. 22, 2018 /PRNewswire/ -- Flotek
Industries, Inc. (NYSE: FTK), a leading developer and distributor
of prescriptive chemistry-based technology, has announced the
expansion of its flagship lines of chemistry technology, including
its patented Pressure reducing
Fluid® technologies and
StimLube® friction reduction line.
Additionally, Flotek has completed a thorough analysis of its
newest Complex nano-Fluid® product developed
for the Midland Basin. The product introductions and analysis will
be presented at the SPE Hydraulic Fracturing Conference beginning
Tuesday, January 23 (Booth 715).
StimOil® MB – Flotek's patented Complex
nano-Fluid® technology customized for the unique
geology, chemistry and economics of the Midland Basin – has
consistently delivered exceptional performance and return on
investment, as demonstrated in recent performance analysis.
Flotek's performance evaluation team analyzed more than 425
wells in the Wolfcamp B reservoir, comparing wells treated with and
without StimOil® MB, with completion dates ranging from
January 2016 to December 2017. The StimOil® MB-treated
wells outperformed the non-treated wells over an initial12-month
production period, ranging in uplift from 22% to 32% at peak month
production. Additionally, the decline curve analysis demonstrates
sustained economic benefits over the same time period. To ensure
accurate comparisons, all wells were normalized for proppant
loading and perforated lateral length. For more information, visit
here.
"Understanding and analyzing the geology of the reservoir is
core to our innovation and prescriptive chemistry approach as we
partner with our clients to select the most effective stimulation
technology. The Midland Basin reservoirs have framework
composition, clay content, water and hydrocarbon chemistry that
change across the basin, and these unique characteristics require
prescriptive chemistry that can maximize performance – like
StimOil® MB. This technology is tested and has proven
over time to provide meaningful results to our clients' assets and
bottom lines," said James Silas,
Ph.D., Flotek's Senior Vice President of Research and
Innovation.
Flotek's Complex nano-Fluid® line of technologies
complement the chemistry of the reservoir to reduce capillary
pressures and optimize its flow area through patented, customized
formulations. These stimulation chemistries are based on naturally
sustainable and non-toxic citrus oil from orange peels to improve
well performance and productivity.
Introducing New Pressure Reducing Fluid System for High
Brine, High Iron
As the industry increases its usage of produced waters for well
stimulation, the need for full fluid systems that can tolerate high
brine waters has grown significantly. To address this need in the
marketplace, Flotek has introduced RheoFlo®
CAT300, a new, patented cationic Pressure reducing
Fluid® (PrF®) technology customized to
perform in high brine and high iron environments.
RheoFlo® CAT300 is a cationic, high molecular weight
polymer that reduces turbulence and maximizes the use of the
polymer at a lower loading rate. RheoFlo® CAT300 is the
second product in the PrF® product line, complementing
anionic RheoFlo® A300 for a wide range of
brines. For more information, visit here.
Introducing New Friction Reducer Based on Proprietary Polymer
Technology
Flotek has also introduced StimLube®
MAX, a proprietary polymer technology that is a highly
effective friction reducer in high brine conditions. The technology
is a viscosity-building system aiding proppant transport,
maximizing and easing operations and helping to alleviate the
increased market demand for friction reducers.
From slickwater to cross-linked jobs, Flotek offers a wide range
of products that enhance performance, maximize efficiencies in well
treatment strategies and improve well economics. For more
information on Flotek's fluid systems, visit here.
About Flotek Industries, Inc.
Flotek develops and
delivers prescriptive chemistry-based technology, including
specialty chemicals, to clients in the energy, consumer industrials
and food & beverage industries. Flotek's inspired chemists draw
from the power of bio-derived solvents to deliver solutions that
enhance energy production, cleaning products, foods & beverages
and fragrances. In the oil and gas sector, Flotek serves major and
independent energy producers and oilfield service companies, both
domestic and international. 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.
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SOURCE Flotek Industries, Inc.