Flotek Industries Announces Presentation at the Global Hunter Energy Conference, Amendment to Bank Credit Facility
HOUSTON, June 24, 2015 /PRNewswire/ -- Flotek Industries, Inc. (NYSE: FTK - News) will make a presentation at the Global Hunter Securities GHS 100 Energy Conference in Chicago on Wednesday, June 24, 2015. John Chisholm, Chairman, President and Chief Executive Officer of Flotek, will present to conference attendees beginning at 9:30 am CDT.
The presentation will be webcast live and can be accessed from Flotek's website, www.flotekind.com. The presentation slides will be available on the Flotek website coincident with the conference presentation.
In addition, Flotek today filed a Current Report on Form 8-K with the Securities and Exchange Commission detailing a series of amendments to the Company’s Senior Credit Facility with PNC Bank that provide the Company with more flexibility with regard to the creation of foreign entities to more efficiently operate the Company’s international business; add certain new domestic subsidiaries as borrowers, consistent with the original credit facility; and relax certain reporting requirements of the Company.
“We appreciate PNC’s consistent willingness to adapt to our needs as we evolve into a global energy technology company and their continued support as we grow our business and the strength of our balance sheet,” said John Chisholm, Chairman, President and Chief Executive Officer of Flotek. “PNC was willing to step up when we needed a fresh start and new banking relationship and we are delighted they consider Flotek an important client as we work to position Flotek as a global energy technology company with evolving financial needs. We look forward to continuing our solid relationship for years to come.”
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.
Certain statements set forth in this Press Release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Press Release.
Although forward-looking statements in this Press Release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, but are not limited to, demand for oil and natural gas drilling services in the areas and markets in which the Company operates, competition, obsolescence of products and services, the Company's ability to obtain financing to support its operations, environmental and other casualty risks, and the impact of government regulation.
Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filings on Form 10-K (including without limitation in the "Risk Factors" Section), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this Press Release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this Press Release.