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Flotek Industries Introduces Next-Generation Complex Nanofluid® And Updates Progress On Enhanced Oil Recovery Project Developments

Stocks in this article: FTK

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 is a revolutionary breakthrough of our Complex Nanofluid technology that will not only further optimize production from oil and gas reservoirs but also dramatically reduces the environmental impact of completion and production processes," said John Chisholm, Chairman, President and Chief Executive Officer of Flotek. "By reducing the volume of proppant, chemicals and water while, at the same time, improving well production, the next generation of CnF transforms the drilling and completion cost equation and dramatically reduces the environmental costs of drilling."

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.

"Through the improvements in CnF 2.0 nano-physics, Flotek has created a more robust and effective completion chemistry," added Chisholm. "Initial trial results confirm that the use of CnF 2.0 further improved well performance, above that experienced with original CnF, and does so while reducing the need for horsepower, water and proppant. We look forward to marketing our game changing chemical technology to our current and prospective customers in the coming weeks and months."

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