JP3 Measurement
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Press Releases

Category: Press Releases

Flotek Acquires JP3, Leading Data and Analytics Technology Company (5/18/20)

HOUSTON, May 18, 2020 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) announced today it has acquired 100% ownership of JP3 Measurement, LLC (“JP3”), a privately held leading data and analytics technology company, in a cash-and-stock transaction. The transaction is valued at approximately $34.4 million, comprised of $25 million in cash and 11.5 million shares in Flotek common stock, with the assumption of $1.3MM of debt and an additional $5 million earn-out based on appreciation of Flotek’s share price.

Kevin Brown Joins JP3 Board of Managers (11/13/17)

For Immediate Release:

 Austin (November 13, 2017) – JP3 Measurement, LLC (JP3) is pleased to announce that Kevin Brown of Houston has joined the company’s Board of Managers. Kevin brings extensive industry knowledge of the refining and downstream oil businesses to the Board and continues the company’s growth into the crude trading data services market.

JP3 Launches Revolutionary Data Services Offering for Hydrocarbon Composition and Physical Properties Analysis in the Oil and Gas Industry (6/13/16)

For Immediate Release:

Austin, TX (June 13, 2016) – JP3 Measurement, LLC, is pleased to announce the launch of a revolutionary Data Services offering for the oil and gas industry. With this new offering, oil and gas customers can enjoy the advantages of real-time hydrocarbon composition and physical property analysis with no capital expenditure or long-term contract commitment. 

JP3 Releases Next Generation Verax CTX Analyzer for Hydrocarbon Composition and Physical Properties Analysis (4/1/16)

For Immediate Release:

Austin, TX (April 1, 2016) – The Verax CTXTM represents JP3’s latest generation Near-Infrared analyzer designed specifically for oil and gas applications. With faster measurement times, four independent spectrometer detectors, enhanced optical components, and a new flow cell, the Verax CTX provides significant improvements in measurement speed, quality, repeatability, stability, and reliability in even the harshest environments.

JP3 Announces Launch of Verax CTX for Natural Gas Custody Transfer (2/17/16)

For Immediate Release:

Austin, TX (February 17, 2016) – JP3 Measurement, LLC, announces the launch of its latest technology designed to serve the natural gas custody transfer market. For the first time, natural gas can be easily analyzed to obtain custody transfer-grade hydrocarbon composition, BTU, Relative Density, CO2, and other properties, without the cost and headaches of traditional analyzers.

JP3 Announces VAR Agreement with Insight Analytical (2/16/16)

Austin (February 16, 2016) – JP3 Measurement, LLC, and Insight Analytical, Inc., of Calgary, Alberta, have completed an agreement that establishes Insight Analytical as a reseller of JP3 products and services. Under the terms of the agreement, Insight Analytical has the right to market, distribute, sell and support JP3 products on an exclusive basis throughout the entire geography of Canada within the Oil and Gas markets.