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March 14, 2013
07:03 EDTFTKFlotek announces letter of intent with Gulf Energy
Flotek announced this morning the execution of a letter of intent with an affiliate of Gulf Energy, an Oman-based diversified oil and gas concern, to construct an advanced oilfield chemistry production facility and create a research and development organization to address the growing need for advanced oilfield chemistry and analysis in the Middle East and North Africa. Under the terms of the agreement, Flotek will own 60% of two new Omani-registered limited liability companies: the first, a chemical production company that plans to construct a production facility, and the second, a research and development laboratory that will focus on the application of Flotek's leading oilfield chemistries to the challenges of drilling, completion and production in the Middle East and North Africa.
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January 28, 2015
07:09 EDTFTKFlotek acquires all assets of International Artificial Lift
Flotek announced it has entered into a definitive agreement to purchase substantially all of the assets of International Artificial Lift, a developmental-stage company that specializes in the design, manufacturing and service of next-generation Hydraulic Pumping Units that serve to increase and maximize production for oil and natural gas wells. Flotek provided total consideration of $2.25M for the purchase of substantially all of the assets of IAL including all intellectual property, finished goods and inventory. Flotek also assumed the lease on IAL's corporate headquarters in Boyd, Texas in the Dallas-Ft. Worth metroplex. International Artificial Lift President Larry Best has agreed to remain with the company for a minimum of two years from the effective date of the transaction.
January 27, 2015
16:12 EDTFTKFlotek reports Q4 EPS 29c, consensus 28c
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