Its Clean And Green Chemicals Help Drillers Extract More Oil
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Oil is big business, especially when commodity prices are high and demand strong. As oil firms crank up drilling in such an environment, the work trickles down to oil field services providers and their suppliers. One of the suppliers to the suppliers is Flotek Industries (AMEX:FTK) FTK. It focuses on specialty chemicals used in drilling, as well as drilling tools and gas extraction gear. Flotek might be a small fry on the food chain -- with total 2007 revenue of about $160 million -- but it has friends in high places.
Flotek's customers include three of the biggest names in the oil field services industry, Halliburton (NYSE:HAL) HAL, Schlumberger (NYSE:SLB) SLB and BJ Services (NYSE:BJS) BJS.