Press Release Summary:
FC-PRO-XR Series is based on citrus chemistry, specifically technical grade d-limonene, which consists of double-bonded hydrocarbon produced from skins of oranges. Environmentally safe and renewable compound is as effective as Xylene and other BTEX-type solvents in eviscerating pollutants that stifle production in oil and gas wells. U.S. FDA has determined d-limonene to be Generally Regarded as Safe and has been given Designated for the Environment label by U.S. EPA.
Original Press Release:
Flotek Industries Introduces Xylene Replacement Products at IPAA
HOUSTON -- Flotek Industries, Inc. (NYSE: FTK) introduced its Xylene replacement products, including its FC-PRO-XR product line, at the Independent Petroleum Association of America Mid-Year Meeting in Colorado Spring.
"Quite simply, if - as an industry - we are serious about becoming better environmental stewards, there is no better place to start than with chemicals that have environmentally friendly substitutes that provide the same or better performance, even if the cost is slightly higher," Flotek's Chairman, President and Chief Executive Office told a capacity crowd of oil and gas professionals at the gathering at the Broadmoor Resort. "Doing what is right isn't necessarily the least expensive solution; but it is the responsible solution."
Flotek's line of solvents is based on citrus chemistry, specifically the Company's technical grade d-limonene, a double-bonded hydrocarbon produced from the skins of oranges. Laboratory and commercial validations show that d-limonene - an environmentally safe and renewable compound - is as effective as Xylene and other BTEX-type solvents in eviscerating pollutants that stifle production in oil and gas wells. Chisholm presented Flotek's chemistry during a presentation on emerging oilfield technologies including executives from Halliburton and GE Oil & Gas.
Xylene - a by-product of crude oil - is a known environmental hazard, a ground water contaminant and suspected of numerous negative impacts on human and animal health, In contrast, the U.S. Food and Drug Administration has determined d-limonene to be Generally Regarded as Safe ("GRAS") and had been given the "Designated for the Environment" label by the U.S. Environmental Protection Agency. As an agricultural by-product, d-limonene is both sustainable and bio-renewable.
"As an industry we are in the business of providing energy that makes America work which includes working healthy by balancing energy development with responsible environmental stewardship," Chisholm told industry professionals. "That makes the decision simple: the use of Xylene and harmful chemistries as solvents can and should end. Our ability to improve the environmental is as simple as an orange, replacing Xylene with d-limonene in your drilling, completion and production activities."
For more information on Flotek's series of Xylene replacement solvents introduced at the Colorado Springs confab please email IPAA@flotekind.com.
About Flotek Industries, Inc.
Flotek is a global developer and distributor of a portfolio of innovative oilfield technologies, including specialty chemicals and down-hole drilling and production equipment. 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 www.flotekind.com.