Flotek Industries has entered a definitive agreement to purchase substantially all of the assets of International Artificial Lift (IAL), Flotek said in a news release.
IAL is a developmental-stage company that specializes in the design, manufacturing and service of next-generation hydraulic pumping units (HPU) that serve to increase and maximize production for oil and natural gas wells. Founded and led by Larry Best, a 40-plus year veteran of hydraulic and electrical computerized controls and lift systems, IAL has developed patented and patent-pending designs and technology that provide Flotek with proprietary advances in hydraulic lift and control systems, the release said.
The IAL/Flotek HPU design features continuous horsepower with a patent-pending synchronized lifting system that allows operators to produce more efficiently and at a significantly reduced cost compared to other hydraulic lift designs.
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