Flotek Industries Inc. (FTK) announced Thursday morning that it executed a Letter of Intent with an affiliate of Gulf Energy LLC to construct an advanced oilfield chemistry production facility and create a state-of-the-art research and development organization.
The company also announced that its Board of Directors has elected H. Richard Walton as Executive Vice President and Chief Financial Officer.
Flotek Industries traded to the upside during the first half of the morning Thursday and finished with a gain of 1.22 at $15.63, with volume at over a 7-month high. The stock broke out of a month and a half long range and set a new high for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.