Archive: May 2020
Flotek Acquires JP3, Leading Data and Analytics Technology Company (5/18/20)
HOUSTON, May 18, 2020 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) announced today it has acquired 100% ownership of JP3 Measurement, LLC (“JP3”), a privately held leading data and analytics technology company, in a cash-and-stock transaction. The transaction is valued at approximately $34.4 million, comprised of $25 million in cash and 11.5 million shares in Flotek common stock, with the assumption of $1.3MM of debt and an additional $5 million earn-out based on appreciation of Flotek’s share price.
JP3 Announces Joint Data Service Solution with Phillips 66 to Reduce Transmix Generation (5/13/20)
For Immediate Release: Austin, TX (May 13, 2020) – JP3 Measurement, LLC, is pleased to announce it is working with Phillips 66 to launch a revolutionary data service solution which could deliver considerable savings to refined fuel producers, transporters and distribution terminal operators.
Optimizing Condensate Stabilizers: Getting the Last Barrel, Sponsored by GPAC
Optimizing Condensate Stabilizers: Getting the Last Barrel, Sponsored by GPAC Thur, May 21, 2020, 12:15 – 1:30 pm CDT Please register: https://www.makingmeasurementsmatter.com/offers/CPLitxkS/checkout
The primary function of a gas plant is still the recovery and purification of methane for transport as natural gas; however, the importance of producing and high value natural gas liquids (NGL’s) and hydrocarbon condensates has increased dramatically in recent years.
ISHM, May 12-14, 2020 (Oklahoma City, OK)
JP3 was scheduled to present our Introduction to Spectroscopy training during the International School of Hydrocarbon Measurement’s 2020 event (second consecutive year). Unfortunately, due to matters related to Covid-19, ISHM has been cancelled and rescheduled for 2021.