BNET Industries

Market Cap:$28.5M
Last Fiscal Year Sales:$158.0M
- Public
- US
Dow Jones Description
Founded in 1985 and headquartered in Houston, TX, Flotek Industries, Inc. (AMEX: FTK) develops, manufactures, and markets various chemicals, products, and services to the petroleum industry. The company operates in three segments: Chemicals-Logistics, Drilling Products, and Production Products. It provides chemicals for cementing and stimulating producing wells and makes various tools for drilling and pumping petroleum. It markets through a direct sales force. In April 2006, it acquired Total Well Solutions, LLC for about $4.8 million.
President & CTO
Glenn S. PennyNumber of Employees 448
Contact Information
7030 Empire Central Drive
Houston, Texas 77040
(713) 849-9911
Peer Companies
NAICS Code All Other Miscellaneous Chemical Product and Preparation Manufacturing: 325998
Recent Events
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Flotek's 3Q Revenues Hit by Declines in Oilfield Activity
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Flotek Industries, Inc. Announces Results of Special Meeting of Stockholders, Change to Board of Directors,...
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BRIEF-Flotek Industries announces executive reorganization
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Flotek Industries, Inc. Announces Executive Reorganization, Change to Board of Directors and Reminder of Special...
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Flotek Industries says CEO to retire in 2010
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FTK: Chairman and CEO Jerry Dumas to Retire in 2010
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Flotek Industries Chairman, President And CEO Jerry Dumas Plans To Retire In 2010 - Quick...
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Flotek posts 2Q loss as sales drop by half
News & Analysis
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flotek industries inc. - All News and Analysis
Flotek Industries Inc. Q4 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Mark Brown - Pritchard Capital Partners. Mark Brown - Pritchard Capital Partners Under what condition would you go through with exchanging shares of common for the convertible debt? Jempy Neyman Well Mark as you well surmise, we have looked at...
Flotek Industries Inc Q4 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Our first question comes from Joe Hill from Copia Capital. Please go ahead with your question or comment. Joe Hill - Copia Capital Good morning, Jerry. Jerry Dumas Good morning, Joe. Joe Hill - Copia Capital How are sales of the micro-emulsion tracking for the...
Flotek Industries, Inc. Announces Pricing of $100 Million of Convertible Senior Notes and Entry Into Share Lending Agreement
Flotek Industries, Inc. (NYSE: FTK), a technology-driven global supplier of drilling and production related products and services to the energy and mining industries, announced today that it has priced its previously announced offering of $100 million aggregate principal amount of convertible senior notes. Flotek also announced that it has granted...
Flotek Industries, Inc. to Offer $100 Million of Convertible Senior Notes and to Enter Into Share Lending Agreement
Flotek Industries, Inc. (NYSE: FTK), a technology-driven global supplier of drilling and production related products and services to the energy and mining industries, announced today that it intends to offer $100 million of convertible senior notes to finance the purchase of its recently announced intended acquisition of Teledrift, Inc. ...
Flotek Industries Inc. Announces Redistribution of Shares and First Quarter 2002 Results of Operations
Business Editors HOUSTON--BUSINESS WIRE--May 21, 2002 Flotek Industries Inc. (the "Company") (OTCBB:FLTK) today announced a redistribution of shares issued in connection with the merger of the Company and Chemical & Equipment Specialties Inc. ("CESI") on Oct. 31, 2001 (the "Merger"). To effect the Merger, the Company issued a...
Flotek Industries Inc. Announces Resignation of Director
HOUSTON--BUSINESS WIRE--May 3, 1999-- Flotek Industries Inc. (OTC BB:FOTDF) announces that William G. Jayroe has resigned from the Board of Directors of the Company in order for him to pursue and give attention to his other business endeavors. Flotek is a publicly traded company in the international oilfield...
Flotek Industries Inc. Announces Resignation of Director; New Secretary Named
HOUSTON--BUSINESS WIRE--Oct. 22, 1998--Flotek Industries Inc. (the "Company") (OTC BB:FOTDF)(VSE:FTK), announces the resignation of David Spencer as a Director of the Company to give his attention to his other business endeavors. The Company also announces the appointment of Mr. Kenneth W. Ford as the Corporate Secretary, replacing Brookii Wootton....
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Glenn S. Penny | President & CTO |
| Lisa Bromiley Meier | CFO & Vice President |
| William R. Ziegler | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Barry E. Stewart | Board of Directors |
| Gary M. Pittman | Board of Directors |
| Jerry D. Dumas Sr. | Board of Directors |
| John W. Chisholm | Board of Directors |
| Richard O. Wilson | Board of Directors |
| Robert S. Beall | Board of Directors |
| William R. Zeigler | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | President & CTO | Current |
| Flotek Industries, Inc. | Board of Directors | Current |
| Trinity University | BS degree in Chemistry | Former |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | CFO & Vice President | Current |
Barry Stewart joined LHC Group in June of 2006. He has extensive experience in the healthcare industry, serving most recently as the CFO of Rotech Healthcare, a provider of home respiratory care and durable medical equipment and services to patients with breathing disorders. Prior to that, he was CFO at Evolved Digital Systems, a healthcare technology solutions company, and Vice President of Finance and Treasurer at Community Health Systems, an operator of general acute care hospitals in non-urban communities throughout the country. Mr. Stewart earned a Bachelor's Degree in Business Administration at Northeast Louisiana University and holds an MBA from the University of Houston. Additionally, he is a licensed CPA, as well as a Permanent Member of the Treasury Management Association. He is also a member of the American Institute of Certified Public Accountants, the Tennessee Society of Certified Public Accountants, and the Texas Society of Certified Public Accountants.
| Organization | Position | Status |
|---|---|---|
| American Institute of Certified Public Accountants | Current | |
| Rotech Healthcare Inc. | Board of Directors | Current |
| Hotstocked.Com | Board of Directors | Current |
| Flotek Industries, Inc. | Board of Directors | Current |
| Evolved Digital Systems Inc. | Cfo | Former |
| Rotech Healthcare Inc. | Cfo | Former |
| LHC Group, Inc. | Cfo & Senior Vice President | Former |
| Community Health Systems, Inc. | Vice President of Finance and Treasurer | Former |
| The University of Houston | Mba | Former |
| Northeast Louisiana University | Bachelor's Degree In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | Board of Directors | Current |
| Georgetown University | MBA | Former |
| Wheaton College | BA degree in Economics, Business | Former |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | Board of Directors | Current |
| Flotek Industries, Inc. | Chairman & CEO | Former |
| Baker Hughes Incorporated | President | Former |
| Louisiana State University | BS degree in Natural Sciences | Former |
| Organization | Position | Status |
|---|---|---|
| Wellogix, Inc. | Founder | Current |
| Natural Gas Services Group, Inc. | Board of Directors | Current |
| Flotek Industries, Inc. | Board of Directors | Current |
| Protechnics | President | Former |
| Fort Lewis College | Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | Board of Directors | Current |
| Callon Petroleum Company | Board of Directors | Current |
| Halliburton Company | Senior Vice President | Former |
| Halliburton Company | Director | Former |
| Rice University | B.S. Degree In Civil Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Flotek Industries, Inc. | Board of Directors | Current |
William R. Ziegler is of counsel to Satterlee Stephens Burke & Burke LLP. He has practiced corporate, banking and securities law since 1968. Mr. Ziegler holds directorships in several corporations, including Sarvis Incorporated, Grey Wolf, Inc., Equinox Capital, Geokinetics Inc., Flotek, Inc. Somerset Energy Co., Vesta Corp. and La Crosse Milling Company. He specializes in financial, transactional and regulatory matters, including mergers, acquisitions and dispositions, commercial and industrial financing transactions, workouts and debt restructurings, and securities offerings. During his career, he has served as a principal outside counsel to Fleet Bank (New York Region), Mutual Benefit Life (Capital Markets Group), Empire Insurance Group, Macmillan, Inc., The United Corporation, Canadian International Power Company Ltd. and the Grumman Corporation Employee Investment Plan, which held the controlling block of that company's stock. Mr. Ziegler has served as regular counsel to property casualty and life insurance companies and has participated in the demutualization of a New York State insurer. He also represents public and private energy companies and energy service companies as their general counsel and in a variety of transactional and securities matters. He serves as Chairman of Vesta Corp. and Geokinetics and Vice Chairman of Grey Wolf, Inc. In the course of his practice, Mr. Ziegler has had in-depth experience with mergers and acquisitions of public and private corporations. He has advised corporate fiduciaries which were subject to hostile takeovers and in a variety of other circumstances, including proxy contests, insolvencies and corporate reorganizations. He has represented first-time issuers of publicly traded debt and equity securities and corporations which have issued such securities to finance capital expansion and in connection with acquisitions and reorganizations. Mr. Ziegler is admitted to practice in New York and before the United States Court of Appeals, Second Circuit.
| Organization | Position | Status |
|---|---|---|
| Satterlee Stephens Burke & Burke Llp | Partner | Current |
| Sarvis, Inc | Current | |
| Carrier Services, Inc | Chairman | Current |
| Vesta Corporation | Chairman | Current |
| Flotek Industries, Inc. | Director | Current |
| Geokinetics, Inc. | Director | Current |
| Grey Wolf, Inc. | Vice Chairman | Current |
| Whitman Breed Abbott & Morgan LLC | Partner | Former |
| Satterlee Stephens Burke & Burke Llp | Counsel | Former |
| Empire Insurance Group | Former | |
| La Crosse Milling Company | Former | |
| Capital Markets Group, Inc | Former | |
| Vesta Corporation | Board of Directors | Former |
| Grey Wolf, Inc. | Director | Former |
| Columbia Business School | MBA in Business | Former |
| Columbia University | MBA | Former |
| University of Virginia School of Law | LLB degree | Former |
| Amherst College | BA degree in Economics | Former |
| University of Virginia School of Law | degree in LLB Law | Former |
Executive News
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Flotek posts 2Q loss as sales drop by half
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Flotek Industries, Inc. Provides Operational Update and Expanded 2009 Second Quarter Results
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Flotek Industries says CEO to retire in 2010
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FTK: Chairman and CEO Jerry Dumas to Retire in 2010
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Dumas to retire from Flotek
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Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT, FTK, CLNE Lower
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Flotek Industries Chairman, President And CEO Jerry Dumas Plans To Retire In 2010 - Quick Facts
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Market Report -- In Play (FTK)
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Flotek Industries, Inc. Announces Management Transition Plan
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Flotek Industries, Inc. Announces Management Transition Plan
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Flotek (FTK) Reports Large Q2 Loss; Announces $16M Equity Private Placement, Amendment of Credit Facility; Chairman, President, CEO to Retire
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