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Flotek Industries to acquire patents via ARC Fluid Technologies

Staff writer |
Flotek Industries, Inc. has entered into an Agreement to acquire certain intellectual property that will expand Flotek's use of its patented Complex nano-Fluid technology into drilling fluids systems.

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The intellectual property – including certain patents and trade secrets – is being acquired from Anthony Rea, via ARC Fluid Technologies, LLC. The technology relates to the use of certain Flotek Complex nano-Fluid chemistries in drilling fluid systems to provide superior performance in certain conventional and unconventional drilling applications.

"Flotek and Tony Rea have been working together for nearly a decade exploring applications of our nanofluid chemistry into drilling fluid systems," said John Chisholm, chairman, president and chief executive officer of Flotek.

In addition, Flotek and Rea have agreed to a two-year consulting agreement whereby Rea will devote significant time and effort to assisting Flotek to reach key players in the drilling fluids market as well as exploration and production companies that will benefit from the use of Flotek's Complex nano-Fluid technologies in the drilling process.

"Tony's work, in collaboration with Flotek's scientific team, has proven – in both the lab and the field – the efficacy of Complex nano-Fluid chemistries in drilling fluid systems, especially in certain unconventional drilling programs," added Mr. Chisholm.

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