Flotek Industries Flotek Industries Inc. (NYSE:FTK) is headquartered in Houston, Texas, USA, with 561 full-time employees. It is a drilling and production equipment supplier, mainly providing services related to the oil and gas industry.
Flotek Industries (FTK):
FLOTEK Industries develops and provides oilfield products, services and equipment for the oil, natural gas and mining industries in the United States and internationally. The company is divided into four parts to operate.
- Energy and chemical technology department-design, development, production, packaging and sales of oil and natural gas drilling, cementing, well completion and special chemicals used in production or increase production; construction and management of automated material handling equipment; management of load for oilfield companies Equipment and mixed operation equipment, etc.
- Consumer and industrial chemicals subdivision technology department-develops, manufactures and processes citrus oil products that enhance the flavor of food and beverages for beverage and food companies; specialty chemicals industry; household and industrial cleaning products.
- Drilling Technology Department-Provide energy and mining companies with sales, leasing and maintenance of underwater drilling equipment; equipment rental, such as: stabilizers, drill collars, reamers, rags, tanks, vibrating submarines, wireless measurement, while drilling Measuring tools, mud motors, etc.; equipment sales, including: mining equipment, cementing accessories, and drilling motor components.
- Production technology department-assembly and sales of production-related equipment, including rod pump components, electric submersible pumps, gas separators and valves, etc., and provide services that support natural gas and oil production activities.
In addition, FLOTEK Industries also provides oil and gas hydraulic fracturing services and international supply chain management services for national and state-owned oil and food manufacturing companies.
Flotek Industries (FTK) investment:
Since July 2015, international oil prices have been declining day by day, and recently they even hit a three-month low. It is expected that crude oil will bottom out again, so the performance of oil service companies like FLOTEK Industries is expected to be affected. It is recommended to avoid short-term , Even industry leaders including Schlumberger , Baker Hughes , Halliburton , etc., recommend temporary avoidance.