Flotek Industries, Inc. Announces Appointment of James Silas, Ph.D. as Vice President, Research and Innovation; Keith Dismuke, Ph.D. as Vice President, Chemistry Technologies; and Randal Hill, Ph.D. as Inaugural Flotek Research Fellow
HOUSTON, June 3, 2015 /PRNewswire/ -- Flotek Industries, Inc. (“Flotek” or the “Company’) (NYSE: FTK - News) today announced that James A. Silas, Ph.D. has been named Vice President, Research and Innovation; Keith Dismuke Ph.D. has been named Vice President, Chemistry Technologies and Randal Hill, Ph.D. has been named the inaugural Research Fellow in the Company’s newly designed Flotek Fellows Program.
In his role as Vice President, Research and Innovation, Dr. Silas will be responsible for leading Flotek’s scientists and research team in forging new chemistry technologies and strategies for enhancing reservoir performance. In addition, Dr. Silas will spearhead the company’s technical service activities and quality programs.
Dr. Silas joined Flotek in 2013 and most recently led the Company’s new product testing and modeling efforts and has spent over 15 years focused on the physics and chemistry of surfactants and polymers in bioengineering and the energy industry. Prior to joining Flotek, Dr. Silas served as an assistant professor of Chemical Engineering at Texas A&M University.
Dr. Silas earned his bachelor’s degree in Chemical Engineering from Princeton University, and his Ph.D. in Chemical Engineering from the University of Delaware. He also served as the NIH Ruth L. Kirschstein Postdoctoral Fellow at the University of Pennsylvania in Bioengineering.
“The continued growth of Flotek’s research and innovation efforts and the importance to our business is in good hands with James,” said John Chisholm, Flotek’s Chairman, President and Chief Executive Officer. “James’ focus on new product development and modeling has provided a number of exciting new opportunities for Flotek and our clients which makes me absolutely certain that he is the right person to lead our research team as we further accelerate our efforts to create new chemistries to maximize value for our clients and improve global reservoir productivity.”
In addition, Flotek has promoted Dr. Keith Dismuke to the position of Vice President of Chemistry Technologies. In his new capacity, Dr. Dismuke will lead Flotek’s patent strategies and work closely with Dr. Silas and our research chemists in the creation of new patented technologies. Dr. Dismuke will also oversee the development of the company’s new research and innovation facility, scheduled to open in 2016.
Dr. Dismuke joined Flotek in 2007 where he has been instrumental in the growth and development of all aspects of the company’s research and innovation efforts, including the growth of Flotek’s research and innovation capacity for nearly a decade. During his four decade-plus career in industrial chemistry, Dr. Dismuke has been actively involved in fundamental research, beginning as a chemist with the Dow Chemical Company. Dr. Dismuke has managed the successful development and commercialization of over 200 new chemical products and fluid systems used in oilfield applications including hydraulic fracturing, acidizing, wellbore cleanup, drilling, and cement systems.
Dr. Dismuke earned his Ph.D. in Physical Chemistry from the University of Florida. He is the named co-inventor on 11 US Patents, 6 US applications, and 8 foreign filings based on his work within Dow Chemical, Schlumberger, Benchmark Research, and Flotek.
“Keith’s commitment to Flotek and its research efforts has been tireless since he joined the Company,” said Chisholm. “Even in the most challenging environment, Keith remained focused on continually improving Flotek chemistries, creating products that set the performance standard for completion chemistry both here and abroad. I am delighted that Keith has accepted this new challenge and look forward to his continued significant contributions as we prepare to debut the next generation of energy research and innovation facilities in the coming year.”
Flotek is also pleased to announce it has created the Flotek Fellows Program. The program is designed to attract key energy-focused chemists and other research scientists to the Flotek team to collaborate with the Company’s staff scientists to address specific oilfield challenges with innovative chemistry solutions. In addition, it is designed to stimulate interaction between Flotek’s clients, members of the academic community and the company’s scientists and fellows to address specific challenges and opportunities related to oilfield chemistry.
Flotek is pleased to introduce Dr. Randal M. Hill as the inaugural Flotek Research Fellow. Dr. Hill has 33 years of industrial surfactant and surface chemistry experience including formulation of household and personal care products, applications of silicone surfactants, nanotechnology for soldier protection, development of pigments for electronic displays, and, most recently, upstream oil and gas well treatment.
In addition to his portfolio of patents and technical papers, he is the editor of Silicone Surfactants (CRC Press, 1999) which remains one of the key treatises on surfactant chemistry. Dr. Hill’s team of researchers is responsible for formulating and developing the next generation CnF® chemistries and other high performance products. His group has filed numerous new patent applications related to new Flotek products in the last two years.
“We are delighted that Randal has accepted our invitation to become the inaugural Flotek Research Fellow and look forward to his continued contributions to our research and innovation efforts,” added Chisholm. “Randal’s deep knowledge of surfactant chemistry, his recent work on CnF® technology and related chemistries and his incredible thirst for understanding oilfield chemistry makes him the ideal scientist to help us launch what we hope will become a key program for the advancement of oilfield chemistry into the future.”
“These three scientists – James, Keith and Randal – and their remarkable credentials and accomplishments clearly show Flotek’s commitment to advancing oilfield chemistry and an understanding of the importance of chemistry in the drilling, completion and production processes,” concluded Chisholm. Under their leadership of our research and innovation group, Flotek has developed over 40 unique CnF® formulations, optimizing its value based on geography, rock properties and other physical attributes of specific formations. We look forward to their continued efforts and achievements that will benefit Flotek and its clients in the 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.
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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.