FLOTEK Historical Development
Flotek Industries Inc., is a diversified global supplier of drilling-and production-related products and services to the energy and mining industries. Flotek is headquartered in Houston, Texas and its common shares are traded on the New York Stock Exchange market under the stock ticker symbol, “FTK.” FLOTEK was originally incorporated under the laws of the Province of British Columbia on May 17, 1985. On October 23, 2001, we approved a change in our corporate domicile to the state of Delaware and a reverse stock split of 120 to 1. On October 31, 2001, we completed a reverse merger with CESI Chemical, Inc. (“CESI”). Since that date, we have entered into the following acquisitions that were outside the ordinary course of our business:
- acquired IBS 2000, Inc., a Denver-based company engaged in the development and manufacturing of environmentally neutral chemicals for the oil industry, on February 19, 2002,
- acquired manufacturing assets, inventory and intellectual property rights to produce oilfield shale shaker screens from Phoenix E&P Technology, LLC on January 28, 2005,
- acquired Spidle Sales and Services, Inc. (“Spidle”), a downhole tool company with rental, sales and manufacturing operations throughout the Rocky Mountains, on February 14, 2005,
- acquired the assets of Harmon’s Machine Works, Inc. (“Harmon”), a downhole oilfield and mining tool company with manufacturing and sales operations located in Midland, Texas, on August 19, 2005,
- acquired the assets of Precision-LOR, Ltd. (“LOR”), a drilling tool rental and inspection service provider in South Texas, on August 31, 2005,
- acquired the assets of Can-Ok Oil Field Services, Inc. and Stabilizer Technology, Inc. (collectively “Can-Ok”) a downhole oilfield tool company located in Chickasha, Oklahoma on January 2, 2006,
- acquired the tangible assets and licensed the rights to exercise the exclusive worldwide rights to a patented gas separator used in coal bed methane production in the Powder River Basin from Total Well Solutions, LLC. (“TWS”) on April 3, 2006,
- acquired the assets of LifTech, LLC (“LifTech”) which markets and services electric submersible pumps and downhole gas/water separators primarily to coal bed methane gas producers in the Powder River Basin on June 6, 2006,
- acquired the assets of Triumph Drilling Tools, a downhole tool company with rental, inspection and manufacturing operations throughout the Gulf Coast and Mid-Continent regions, on January 4, 2007.
- acquired a 50% partnership interest in CAVO Drilling Motors Ltd Co. on January 31, 2007, a downhole mud-motor company with domestic rentals and international sales operations.
- acquired the assets of Sooner Energy Services, Inc. (“SES”), a specialty chemical company dedicated to the development and distribution of products and services for drilling and production of natural gas.
- acquired remaining 50% partnership interest in CAVO Drilling Motors Ltd. Co. November 27, 2007, a downhole mud-motor company with domestic rentals and international sales operations.
- listed and began trading on the New York Stock Exchange on December 27, 2007.
- acquired Teledrift in February of 2008, a leading designer and manufacturer of wireless survey and measurement while drilling, or MWD, tools based in Oklahoma City, Oklahoma.
We offer a full spectrum of oil field specialty chemicals used for drilling, cementing, stimulation and production...
Our specialty chemicals division provides chemical technology solutions to maximize recovery from both new and mature fields. Our development of specialty chemicals with enhanced performance characteristics to withstand a wide range of downhole pressures, temperatures and other well-specific conditions is key to the success of this division. We utilize a technical service laboratory, to focus on design, development and testing of new chemical formulations and enhancement of existing products, often in cooperation with our customers.
We are a leading provider of downhole drilling tools used in the oilfield, mining, water well and industrial drilling sectors...
We manufacture, sell, rent and inspect specialized equipment for use in drilling, completion, production and workover activities throughout the United States and in select international markets. Our rental tools include stabilizers, drill collars, reamers, wipers, jars, mud-motors, wireless drift indicators, and measurement while drilling tools, while equipment sold includescentralizers and drill bits. We focus our product marketing efforts primarily in the Gulf of Mexico, Mid-Continental and Rocky Mountain regions of the United States, with international sales currently conducted through third party agents.
We provide pumping system components including electric submersible pumps or ESPs, gas separators, production valves and services...
Our products address the needs of coal bed methane and traditional oil and gas production to efficiently move gas, oil and other fluids from the producing horizon to the surface.
The patented gas separator is particularly applicable for coal bed methane production as it efficiently separates gas and water downhole, ensuring solution gas is not lost in water production.
A Global Leader in Oilfield & Mining Products and Service
If you drill, produce, or transport, Flotek Industries has high quality products at great values to help you succeed. Check out our complete product lines in these catalogs:
If you don't see what you need, contact our SALES STAFF about customized solutions for your specific requirements.
Welcome to FLOTEK Industries on the web!
Thank you for taking the time to visit our site. We want to do everything possible to make your experience a beneficial and productive one. Everyone at FLOTEK is devoted to making our products and service a valuable component of your business success. If there is anything you may need, please feel free to contact us.
FLOTEK Industries Headquarters
2930 W. Sam Houston Pkwy. N.
Houston, TX 77043
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