Tue, Nov. 17, 12:47 PM
Tue, Nov. 17, 10:11 AM
- Flotek (FTK +8.7%) pops in early trade after a tumultuous past few days.
- See: Bakken Update: A Bronte Rebuff, Flotek Well Produces 24% More Oil Over First 11 Months
Wed, Nov. 11, 10:34 AM
- Flotek Industries (FTK -6.6%) has appointed a committee to oversee a review of its proprietary software application - FracMax -after confirming problems with the system.
- The announcement sent Flotek's stock price reeling and spurred a flurry of announcements from law firms launching investigations into the company's claims on behalf of investors.
Tue, Nov. 10, 12:48 PM
Tue, Nov. 10, 10:48 AM
- Flotek Industries (FTK -32.9%) plunges another 33% to fall below the $10 mark following yesterday's 20% drop in response to a negative report from Bronte Capital; today, the company's rebuttal appears to suggest the company misinterpreted production data in three wells analyzed in the report.
- In FTK's response to the Bronte Capital report, the company says "the wells in question are single-well units... while the adjustment does impact the magnitude of the outperformance of the well completed using [complex nano-fluid surfactants] when compared to the non-CnF treated wells, it does not, the company believes, change the conclusion that the CnF well outperformed the non-CnF wells."
- Also, Iberia Capital has come out with its own scathing report that rates shares as Underperform and worth less than $3 each, citing a "persisting lack of evidence to support management's claims."
Tue, Nov. 10, 9:13 AM
Mon, Nov. 9, 12:45 PM
Thu, Oct. 22, 9:14 AM
Wed, Oct. 21, 5:39 PM
Thu, Jul. 23, 2:17 PM
- Flotek Industries (FTK +34.3%) soars after reporting better than expected Q2 results, driven by acceleration in adoption of its CnF technology, with volumes growing 76% Q/Q despite a 40% drop in overall activity in North American markets.
- FTK says Q2 CnF sales in the U.S. surged 113% Q/Q, setting a new quarterly CnF sales record and prompting CEO John Chisholm to say the company's flagship technology is reaching a tipping point where drillers consider its use essential to maximize revenues from wells.
- Stephens analyst Matthew Marietta raises his price target for FTK to $23 from $17, adding the stock to the firm's Best Ideas List and maintaining an Overweight rating.
Thu, Jul. 23, 12:44 PM
Thu, Jul. 23, 9:15 AM
Wed, Jul. 22, 5:41 PM
Tue, Apr. 21, 12:47 PM
Tue, Apr. 21, 8:38 AM
- Flotek Industries (NYSE:FTK) -5.8% premarket after saying it expects to post a Q1 loss of ~$0.03/share vs. analyst expectations for a $0.15 profit, and Q1 revenues of $82M vs. consensus for $102M, citing "the rapid deceleration in commodity prices and resulting evisceration in oilfield activity."
- FTK says part of the $0.03 loss is the result of one-time items that will be discussed in tomorrow's earnings report and conference call.
Tue, Apr. 14, 10:07 AM
- Solazyme (SZYM +10.9%) opens sharply higher after announcing a strategic agreement with Flotek (FTK +2.8%) to develop and market advanced drilling fluid technologies, including globally commercializing and marketing the Flocapso drilling fluid additive.
- The two companies say lab and commercial testing show that the Flocapso additive will allow the use of water-based fluids in wells that previously required more expensive and invasive oil-based products.
- In addition, FTK will market SZYM's Encapso lubricant, the first commercially available, biodegradable encapsulated lubricant for drilling fluids in certain Middle Eastern markets.
Flotek Industries Inc provides drilling and production products and services to the energy and mining industries. The Company offers oilfield specialty chemistries and logistics, downhole drilling tools, and production related tools.
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