FLOTEK'S JP3 ANALYZER RECEIVES EPA APPROVAL FOR OIL AND GAS FLARE MONITORING REGULATIONS
HOUSTON, July 16, 2024 /PRNewswire/ -- Flotek Industries' (NYSE:FTK) wholly owned subsidiary JP3 Measurement, a leader in innovative analytical measurement solutions, today announced that the Environmental Protection Agency (EPA) has designated the JP3 system as an approved measurement technology with respect to recently enacted flare regulations. This state-of-the-art optical instrument, designed for the precise measurement of net heating values (NHV) in flare gases, is the first to be approved as an alternative method under the new NSPS OOOOb regulations, supporting cleaner and more efficient operations across the oil and gas industry.
JP3's technology utilizes advanced Near InfraRed (NIR) Spectroscopy to deliver accurate, autonomous, and continuous real-time flare emission measurements. Its robust design is specifically engineered for challenging field conditions typical of midstream and upstream sectors, simplifying complex compliance hurdles. With over 55,000 existing flares in the United States expected to be subject to some level of monitoring regulation by 2028, this approval positions JP3 to significantly expand its footprint into this new upstream market space.
Dr. Ryan Ezell, Chief Executive Officer, expressed his enthusiasm about future Data Analytics applications: "The EPA's approval of the JP3 system for flare measurement is not just a validation of our technology—it's a catalyst for significant growth. We are poised to deliver substantial value and tangible ESG benefits to our customers, particularly in upstream applications. This approval is a major milestone that augments our expectations regarding the continued subscription-based revenue growth of our Data Analytics segment."
Thomas Redlinger, Vice President of Data Analytics, also reflected on the impact: "We expect the JP3 analyzer to transform how the industry approaches flare emission monitoring as it did with other applications within the oil and gas industry. By integrating real-time data analytics with rigorous environmental measurement, we are providing our clients with tools that exceed regulatory requirements without the operational risks of legacy analytical equipment. Several operators have already selected JP3 analyzers to help them address the new regulation requirements."
As regulatory demands evolve, JP3 Measurement continues to lead with cutting-edge solutions designed to address both current and future challenges. For more information about JP3 offerings, please visit www.flotekind.com.
About Flotek Industries, Inc.
Flotek Industries, Inc. is an advanced technology-driven, green chemical and data analytics company providing unique and innovative completion solutions that have a proven, positive impact on sustainability and reducing the overall environmental impact of energy on air, land, water and people. Flotek has an intellectual property portfolio of over 170 patents and a global presence in more than 15 countries throughout North America, Latin America, the Middle East and North Africa. Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions which improve well performance and allow its customers to generate higher returns on invested capital.
Flotek is based 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 www.flotekind.com.
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SOURCE Flotek Industries, Inc.