FLOTEK INDUSTRIES TO SELL FLORIDA CHEMICAL TO ADM FOR $175 MILLION…

Enters into Long-Term Reciprocal Agreements and Technical Initiatives to Support and Grow Core Energy Business

HOUSTON – JANUARY 11, 2019: Flotek Industries, Inc. (NYSE: FTK) (“Flotek”) today announced it has entered into a definitive agreement to sell Florida Chemical Company, LLC (“FCC” or “Florida Chemical”), its Consumer and Industrial Chemistry Technologies segment, to Archer Daniels Midland Company (NYSE: ADM) (“ADM”) for total consideration of $175 million in cash, subject to post-closing working capital and other adjustments. With this transaction, Flotek has established itself as a leading specialty chemistry provider of custom, full-fluid solutions to the upstream oil and gas industry. Flotek will retain all of its patents.

In connection with the sale of FCC, Flotek and ADM have entered into long-term reciprocal supply agreements. The first will secure Flotek’s long-term supply of d-limonene. Additionally, Flotek will manufacture differentiated chemistries for Florida Chemical’s industrial customers. Finally, the companies will explore opportunities to jointly develop next-generation chemistry technologies for the oil and gas and agricultural industries.

The closing of the transaction is expected during the first quarter of 2019 and is subject to customary closing conditions, including obtaining necessary approval related to the Hart-Scott-Rodino Act. Flotek anticipates that the transaction will have a negligible cash tax effect, as the gain on this sale should be substantially offset by the Company’s outstanding net operating losses.

John Chisholm, Flotek’s Chairman, President and Chief Executive Officer, commented, “We believe the benefits of this transaction are extremely compelling on multiple fronts and in the best interest of our stakeholders. This transaction unlocks significant value for our stakeholders, while maintaining our access to key raw materials for our Energy Chemistry Technologies (“ECT”) business. The transaction also enhances our flexibility to evaluate and pursue the long-term strategy for our core ECT business. Additionally, we are very excited about our long-term relationship with ADM to develop unique opportunities to more fully leverage their vast, high-performing portfolio of to better serve the oil and gas market for many years to come. This transaction has created a synergistic relationship that brings strategic benefits to each company and our stakeholders.”

Vince Macciocchi, President of ADM’s Nutrition business unit, commented, “ADM is already a leader in natural flavors for food and beverages, offering a wide variety of high-value products and solutions in areas such as vanilla and mint, and this acquisition will place us in a leadership position for citrus flavors as well.  Citrus is one of the fastest-growing flavor categories, and the single most important taste profile for beverages, and no one in North America does citrus better than Florida Chemical Company.”

In 2013, Flotek acquired Florida Chemical to vertically integrate its supply of citrus oils, a key raw material in its patented Complex nano-Fluid® (“CnF®”) suite of technologies. Since the original acquisition, the Company’s Energy Chemistry Technologies segment has benefitted from FCC, which enabled Flotek to better manage feedstock costs through the energy downturn from 2014 to 2016, pursue a new go-to-market strategy, and mitigate raw material price inflation caused by citrus greening disease and a significantly limited supply of global citrus oils. Simultaneously, Florida Chemical has expanded its client base and product offerings, while enhancing its processing and distillation capabilities and leveraging its world-class supply chain and highly respected employee base to penetrate into food and beverage applications. This divestiture is the natural next step in Flotek’s evolution, capturing the value of FCC while securing the supply of feedstock required to create the Company’s patented chemistries.

“ADM is a world-class leader in transforming crops into agricultural and food products. Recognized for its industry-leading capabilities and assets, Florida Chemical will be a significant strategic addition to ADM as they further expand their industry-leading flavor and fragrance offerings. We thank the Florida Chemical team for their invaluable contributions and look forward to continuing our strong relationship moving forward,” said Chisholm.

ECT Outlook and Related Initiatives

Following closing of the transaction, Flotek will focus its efforts on providing its global clients best-in-class solutions designed to maximize performance of their oil and gas wells, while simultaneously lowering well costs and fluid complexity. Flotek intends to use the net proceeds to pay off its credit facility balance of approximately $50 million. In addition, the Company is currently considering investing $20 million to $30 million in previously identified organic growth capital projects and will carefully review other future potential uses of the remaining funds.

Flotek intends to establish a Strategic Capital Committee (the “Committee”) to evaluate and make recommendations to the Board regarding the manner in which the Company will deploy the remaining net proceeds from the sale of FCC. This includes the potential for additional investments in its business, returning capital to shareholders and other potential alternatives. The Committee plans to engage a leading advisory firm.

Chisholm concluded, “I look forward to a thorough review by our Strategic Capital Committee concerning the best use of the remaining net proceeds from the transaction and updating shareholders as to the results of that process. In addition, we look forward to continuing to benefit from Florida Chemical’s citrus products through our long-term supply agreement with ADM. Finally, we are excited to partner with ADM as we seek new opportunities to expand our offerings to the oil and gas industry.”

Advisors

Evercore is acting as exclusive financial advisor to Flotek in connection with the transaction.

Conference Call

Flotek will host a conference call on January 14, 2019, at 9:00 a.m. CT/10:00 a.m. ET to discuss the transaction and its go-forward priorities for its Energy Chemistry Technology business. To participate in the call, participants should access the webcast on www.flotekind.com under the Investor Relations section or dial 877-870-4263 approximately five minutes prior to the start of the call. A recording of the call will also be available on the website shortly after the call is concluded.

About Florida Chemical Company, LLC

Founded in 1942, Florida Chemical designs and delivers high-quality products that meet the demands of a variety of consumer and industrial applications, including food and beverage, fragrance, and household and industrial cleaning products. Sourcing citrus oil domestically and internationally, it is one of the largest processors in the world.

About Flotek Industries, Inc.

Flotek develops and delivers prescriptive, reservoir-centric chemistry technologies to oil and gas clients designed to address every challenge in the lifecycle of the reservoir and maximize recovery in both new and mature fields. Flotek’s inspired chemists draw from the power of bio-derived solvents to deliver solutions that enhance energy production. Flotek serves major and independent energy producers and oilfield service companies, both domestic and international. 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.

About ADM

For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with approximately 31,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 500 crop procurement locations, 270 food and feed ingredient manufacturing facilities, 44 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses.

Forward-Looking Statements

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, will, should 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.

Although forward-looking statements in this Press Release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, but are not limited to, demand for oil and natural gas drilling services in the areas and markets in which the Company operates, competition, obsolescence of products and services, the Company’s ability to obtain financing to support its operations, environmental and other casualty risks, and the impact of government regulation.

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.

IR Inquiries, contact:

Elizabeth T. Wilkinson

Chief Financial Officer

E: ir@flotekind.com

P: (713) 726-5376

Media Inquiries, contact:

Danielle Allen

Senior Vice President

Global Communications & Technology Commercialization

E: DAllen@flotekind.com

P: (713) 726-5322

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date: Jan 10, 2019 location: Calgary, Alberta, CA Chevron is one of the world’s leading integrated energy companies producing safe, reliable energy now and for the future. We approach challenges with integrity, ingenuity and respect. By valuing our employees, our partners, and our world, we’ve created a company that’s responsibly moving the world forward. Chevron Canada Limited has been active
date: Jan 10, 2019 location: Houston, TX Texas, US Chevron is one of the world’s leading energy companies, with approximately 60,000 employees working in countries around the world. We explore, produce and transport crude oil and natural gas; refine, market and distribute fuels and other energy products; manufacture and sell petrochemical products; generate power; and develop future energy resources, including
GE Oil & Gas Experienced Posted 1/10/2019 4:54:47 AM 3231011 Job Function: Engineering/Technology Business Segment: Oil & Gas Oilfield Equipment Location(s): Norway; Hovik Role Summary:The Engineering Manager (EM) Subsea Power & Processing (SP&P) is a combined technical (70%) and people leader role (30%). The EM is part of the SP&P Norway engineering leadership team. The EM shall demonstrate accountability for
GE Oil & Gas Experienced Posted 1/10/2019 8:54:59 AM 3205970 Job Function: Manufacturing Business Segment: Oil & Gas Oilfield Equipment Location(s): United Kingdom; Montrose Role Summary:The Manufacturing Engineer is experienced in manufacturing technology for subsea products, is capable of delivering high impact projects, deals effectively with technical information & influences the new product introduction (NPI) process. Essential Responsibilities:• Create &
GE Oil & Gas Experienced Posted 1/10/2019 9:54:41 AM 3192926 Job Function: Digital Technology Business Segment: Oil & Gas Oilfield Equipment Location(s): China; SiChuan; Chengdu Role Summary:The Lead Controls Engineer to work on the design and development of GE Drilling Control Systems. In this role, will be exposed to all aspects of the control system, including application software, simulation, model
GE Oil & Gas Experienced Posted 1/10/2019 1:55:48 PM 3202839 Job Function: Engineering/Technology Business Segment: Oil & Gas Oilfield Services Location(s): United States; Texas; Missouri City Role Summary:The product development team at GE Oil&Gas Lufkin Automation is seeking a Software/Firmware Engineer to join a leading-edge R&D team developing an Advance Control System for Surface Upstream Production.In this role, you will
GE Oil & Gas Experienced Posted 1/10/2019 4:54:17 PM 3195923 Job Function: Manufacturing Business Segment: Oil & Gas Turbomachinery Process Solutions Location(s): United States; Florida; Jacksonville Role Summary:In this role of Lead Manufacturing Engineer you will demonstrate leadership in communicating business goals, programs, and processes for an area or business segment. In this role you will utilize your experience or
Date: 10-Jan-2019 Location: Kuala Lumpur, MY Company: Lloyds Register Job ID:27527 Location:Kuala Lumpur : Naza Tower : Plat (LR_L000213) Position Category:Customer Service Department:MY764043 : SW Operations (MY764043) Position Type:Employee Regular Education Required: A degree in Geology, Engineering or another technical degree with suitable industry experience. Experience Required:See Job Description Relocation Provided: No LR Software Division has a small but broad
Date: Jan 10, 2019 Location: Oklahoma City, OK, US, 73118 Our core values — integrity and trust, respect, transparency and open communication, commercial focus and change leadership — are the lens through which we evaluate every business decision. As a dynamic, growing company that offers extremely competitive compensation and benefits, our employees are our most valued assets and the foundation
Job Posting: Jan 10, 2019, 11:38:44 PM Unposting Date: Jan 25, 2019, 6:59:00 AM Sr Assurance & Improvement Engineer–00137034-20181022 Description One of Husky’s advantages is that we are an integrated oil and gas company. From exploration to development, production, refining and marketing, we’ve got it all! Combine this with a range of learning and development tools and an inclusive work
date: Jan 9, 2019 location: Richmond, CA California, US Chevron is one of the world’s leading energy companies, with approximately 60,000 employees working in countries around the world. We explore, produce and transport crude oil and natural gas; refine, market and distribute fuels and other energy products; manufacture and sell petrochemical products; generate power; and develop future energy resources, including
Job Function: Sales Experience Level: Experienced Posted Date: 1/9/2019 5:53:27 AM Job #: 3231025 Location(s): Republic of Korea; Seongnam Role Summary: The Sales Manager – will demonstrate accountability for business development, growth objective and target of product portfolio in Korea market under BHGE Inspection Technologies product line. In this role, you will develop and capture market interest of Inspection Technologies
Location : Kristiansund N, Norway Apply by:January 31, 2019 Position type:Contract (Office) Job category:Technical/Engineering Job ID #:31098 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable
Location : Kristiansund N, Norway Apply by:February 7, 2019 Position type:Contract (Office) Job category:Technical/Engineering Job ID #:31100 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable
Location:Trondheim, Norway Apply by:February 13, 2019 Position type:Contract (Office) Job category:Technical/Engineering Job ID #:31102 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the
Apply by:January 31, 2019 Position type:Employee (Office / Offshore Core) Job category:Technical/Engineering Job ID #:31099 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of
Job ID: 00RRH Category: Internships, Graduate Positions, and Student Programs Location: Jakarta, Jakarta Raya (Djakarta Raya) COMPANY OVERVIEW ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 17 countries, $71 billion of total assets, and approximately 11,200 employees as of March 31, 2018. Production excluding
Date: Jan 9, 2019 Location: Oklahoma City, OK, US, 73118 Our core values — integrity and trust, respect, transparency and open communication, commercial focus and change leadership — are the lens through which we evaluate every business decision. As a dynamic, growing company that offers extremely competitive compensation and benefits, our employees are our most valued assets and the foundation
GE Oil & Gas Experienced Posted 1/8/2019 8:52:23 AM 3185982 Job Function: Manufacturing Business Segment: Oil & Gas Oilfield Equipment Location(s): United Kingdom; Newcastle-upon-Tyne Role Summary:Production Control is a key function working to build and control the manufacturing schedule aligned with customer orders to be delivered, manufacturing needs and business strategy for the short term. Responsible for Short-Term planning building
GE Oil & Gas Experienced Posted 1/8/2019 10:55:06 AM 3228536 Job Function: Services Business Segment: Oil & Gas Measurement & Controls Location(s): United Kingdom; Aberdeen Role Summary:Bently Nevada Supporting Service Agreements (SSA) are a key business growth area in Aberdeen and center around the installation, commissioning and optimization of the System 1 and Smart Signal software platforms, to deliver remote
GE Oil & Gas Experienced Posted 1/8/2019 6:53:21 AM 3214353 Job Function: Engineering/Technology Business Segment: Oil & Gas Turbomachinery Process Solutions Location(s): Hungary; Fot Role Summary:The candidate will be responsible of Control Panels hardware detailed design for Gas Turbine, Steam Turbine, Compressors.He/She will be responsible for engineering activities relevant to hardware detail design either for Customer projects or standardization tasks
Date: Jan 8, 2019 Location: Tulsa, OK, US, 74104 We are looking for the right people — people who want to innovate, achieve, grow and lead. We attract and retain the best talent by investing in our employees and empowering them to develop themselves and their careers. Experience the challenges, rewards and opportunity of working for one of the world’s
Date: Jan 8, 2019 Location: Houston, TX, US, 77032 We are looking for the right people — people who want to innovate, achieve, grow and lead. We attract and retain the best talent by investing in our employees and empowering them to develop themselves and their careers. Experience the challenges, rewards and opportunity of working for one of the world’s
date: Jan 8, 2019 location: Singapore (Jurong Island), Singapore, SG Chevron is one of the world’s leading energy companies, with approximately 60,000 employees working in countries around the world. We explore, produce and transport crude oil and natural gas; refine, market and distribute fuels and other energy products; manufacture and sell petrochemical products; generate power; and develop future energy resources,
Location:Port Klang, Malaysia Apply by:January 31, 2019 Position type:Contract (Offshore / Site) Job category:Functional Job ID #:31018 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable
Location:Curitiba, Brazil Apply by:January 31, 2019 Position type:Employee (Office / Offshore Core) Job category:Technical/Engineering Job ID #:30752 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable
Location:Rio das Ostras, Brazil Apply by:January 31, 2019 Position type:Graduate position Job category:Technical/Engineering Job ID #:30793 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions
Overview Job ID: 13451 Country: USA Location: Austin, Texas, Houston, Texas Company: Equinor US Operations LLC Contact Name: Julia Ramos Workplace: Onshore Discipline: Supply Chain Management Education Preferred: Bachelor’s Degree Experience Preferred: Less than 1 year Closing Date: Feb 22 2019 Job Description Equinor is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues
Overview Job ID: 13449 Country: USA Location: Houston, Texas Company: Equinor US Operations LLC Contact Name: Julia Ramos Workplace: Onshore Discipline: Exploration Education Preferred: Master’s Degree Experience Preferred: Less than 1 year Closing Date: Feb 22 2019 Job Description Equinor is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind
Hello, future! Here we come. CH2M is now Jacobs. Today is the day when everything about our industry changes. Today, our two great companies join together to deliver more: The promise of a more connected, sustainable world. As our two great companies unite, you may see legacy branding, language or processes and you may be hired into either CH2M or
Date: 08-Jan-2019 Location: Artarmon, AU Company: Weir Minerals Business Need / Purpose of Role Including but not limited to: Become a subject matter expert in the design of process equipment; Evaluate equipment against customer and regulatory requirements to identify and eliminate gaps; Ensure equipment complies with Australian standards, codes and regulations and/or or those of other relevant countries; Maintain project
Date: 08-Jan-2019 Location: Artarmon, AU Company: Weir Minerals Business Need / Purpose of Role To support the Weir Minerals Australia business through the effective process design, plant layout and installation/commissioning support of crushing/screening process plants.  The role will also provide technical support to the regional Weir Minerals Australia comminution business unit. Objectives and Measurements Crushing/Screening Plant Design Reviews and interprets
Job ID: 13412 Country: USA Location: Austin, Texas, Three Rivers, Texas, Triadelphia, West Virginia, Williston, North Dakota Company: Equinor US Operations LLC Contact Name: Julia Ramos Workplace: Onshore Discipline: Operation & Maintenance Education Preferred: Bachelor’s Degree Experience Preferred: Less than 1 year Closing Date: Feb 22 2019 Job Description Equinor is an international energy company with a proud history. Formerly
Location:Curitiba, Brazil Apply by:January 31, 2019 Position type:Graduate position Job category:Technical/Engineering Job ID #:29936 Corporate Overview Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the

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