Flotek Industries, Inc. Secures $2.9 Million Dollar Contract
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HOUSTON, June 19 /PRNewswire-FirstCall/ -- Flotek Industries, Inc.
(NYSE: FTK), a technology driven growth company serving the oil, gas, and
mining industries, announced today it has been awarded a contract with Grupo
Mexico, the largest mining company in Mexico, to supply $2.9 million dollars
in raise drilling tools.
Galleon Turbeco, a Flotek company, will supply drill steel and
stabilization to be used in the Santa Barbara mine located near the city of
Chihuahua in Mexico. Raise drilling, the process of drilling from an existing
shaft to the surface, is an integral part of the mining industry and an
important development in the safety and economy of underground operations.
The technology for directional control in raise drilling utilizes stabilizers
immediately adjacent to the bit. Galleon Turbeco has designed special tools
and developed techniques to assure directional drilling accuracy that have
been accepted as industry standards.
Steve Reeves, Executive Vice President and Chief Operating Officer,
stated, "Our Galleon mining tool manufacturing facility in Midland, Texas
continues to grow and thrive. With our increase in international sales and
our steadily expanding domestic mining business, I am very bullish on this
segment, both short term and long term."
About Flotek Industries, Inc.
Flotek is a global developer and distributor of innovative specialty
chemicals and downhole drilling and production equipment. Flotek manages
automated bulk material handling, loading and blending facilities. It serves
major and independent companies in the domestic and international oilfield
service industry. Flotek Industries, Inc. is a publicly traded company
headquartered in Houston, Texas, and its common shares are traded on the New
York Stock Exchange under the ticker symbol "FTK".
For additional information, please visit Flotek's web site at
http://www.flotekind.com.
SOURCE Flotek Industries, Inc.
Brian Shannon of Flotek Industries, Inc., +1-713-849-9911,
bshannon@flotekind.com
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