Flotek announces closing of agreement with profrac

Houston , may 17, 2022 /prnewswire/ -- flotek industries, inc. ("flotek" or the "company") (nyse: ftk), a leader in technology-driven specialty green chemistry solutions, today announced that it has closed its transactions under the previously-announced agreement with profrac holdings, llc ("profrac") to expand the existing long-term supply agreement with one of profrac's affiliates, as approved by the company's shareholders on may 9, 2022.  as part of the transactions, the existing long-term supply agreement was amended to extend the term to ten years and to increase the minimum baseline of chemical products to the greater of 70% of profrac's requirements or the chemicals required for 30 hydraulic fracturing fleets.
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