Tuesday, October 02, 2012 7:30:04 AM
http://finance.yahoo.com/news/flotek-industries-introduces-next-generation-110000557.html
HOUSTON, Oct. 2, 2012 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") today announced, in conjunction with its 2012 Investor and Analyst Days that it is introducing CnF® 2.0, the next-generation of patented Complex Nanofluids to further enhance oil and natural gas production.
CnF 2.0 builds on the success of Flotek's original Complex Nanofluid technologies by reducing and optimizing the particle size to better penetrate formations in unconventional resource plays. In addition, the redesign of the nano-particles allows for a number of different chemical additives to be included in the chemistry, allowing CnF 2.0 to address a number of diverse completion needs through one master chemistry. Moreover, CnF 2.0 is concentrated, meaning the amount of Complex Nanofluid needed to effectively address completion challenges in a well is reduced by nearly 50% when compared to the original CnF. The development of CnF 2.0 was a two year process under the direction of Flotek's chemistry research team based in Houston.
Flotek is in discussions with a number of completion services companies and exploration and production concerns about adopting CnF 2.0. The Company expects initial commercial sales in the fourth quarter.
Enhanced Oil Recovery Project Developments
In addition, Flotek announced today that it continues to make progress on its work in the Enhanced Oil Recovery ("EOR") arena.
Working with Chaparral Energy, Flotek has found the use of CnF for conformance control in a CO2 flood can have a significant impact on production by diverting CO2 into the portion of the reservoir that has the most productive impact. In early trials, production over a 3 month period increased by 14,000 barrels for an incremental cost of less than one dollar per barrel of production.
The slides associated with Flotek's investor and analyst days will be posted on Flotek's website concurrent with the Company's presentation beginning at 9:00am CDT on October 2, 2012.
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