Flotek's 'XSPCT ™' Custody Transfer Unit Becomes the First Optical Spectrometer to Meet GPA 2172 Standard
Rhea-AI Summary
Flotek (NYSE: FTK) announced that its XSPCT optical spectrometer became the first optical instrument to meet GPA 2172 custody transfer standards, enabling real-time, auditable gas volume and quality data for royalty owners, operators and midstream firms.
Key validation metrics include >95% pass rates for methane, ethane and propane in a South Texas Eagle Ford round-robin, a nine-month field trial across three U.S. basins showing a 0.3 BTU/scf bias (0.02% deviation) over 2,600 samples, and measurement cadence of 5–20 seconds versus infrequent gas chromatography sampling.
Positive
- GPA 2172 compliance—first optical spectrometer to meet custody transfer standard
- >95% pass rates for key hydrocarbons in South Texas round-robin
- 0.3 BTU/scf bias (0.02%) across 2,600 samples in nine-month trial
- Real-time readings every 5–20 seconds versus GC spot sampling every months
- No moving parts / 10+ years low-maintenance field design
Negative
- None.
News Market Reaction 30 Alerts
On the day this news was published, FTK gained 5.04%, reflecting a notable positive market reaction. Argus tracked a peak move of +10.3% during that session. Our momentum scanner triggered 30 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $27M to the company's valuation, bringing the market cap to $566M at that time.
Data tracked by StockTitan Argus on the day of publication.
We believe the XSPCT's qualification under the rigorous measurement accuracy standards outlined in GPA 2172 will provide a significant advantage in discussions with prospective customers.
Key Highlights:
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Validated Accuracy for Accelerated Customer Adoption: In a South Texas Eagleford test, all five XSPCT units exceeded
95% pass rates for methane, ethane, propane and higher hydrocarbons, meeting or exceeding GPA 2261 reproducibility standards for precise gas measurement. -
Historic First: The XSPCT is the first optical spectrometer to comply with GPA 2172, revolutionizing custody transfer by delivering reliable, real-time gas quality and volume data.
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Proven Reliability: A nine-month field trial across three major
U.S. basins with over 12 units showed a negligible bias of 0.3 BTU/scf (0.02% deviation) across 2,600 samples compared to traditional gas chromatography. -
Cost and Efficiency Gains: Real-time analysis every 15 seconds—versus gas chromatography's spot sampling every 3–6 months or auto-sampling every 6 minutes—reduces costs and enhances decision-making.
- Trusted by Industry: Two separate industry-leading companies, an E&P operator and a Midstream company, have tested and approved XSPCT for digital valuation of custody transfer, validating its transformative potential.
XSPCT Digital Valuation Solution Overview
The XSPCT is a near-infrared measurement solution that evaluates hydrocarbon gas streams to provide real-time volume and quality data. It excels in:
- Speed: Delivers measurements every 5–20 seconds, far surpassing traditional methods.
- Accuracy: Industry tested to meet GPA 2172 standards for custody transfer.
- Data: Automatically generates rich datasets to enhance production and engineering decisions.
- Durability: Features no moving parts, no consumable gases and over 10 years of low-maintenance field performance.
Field-Tested Validation
In a rigorous round-robin test at a South Texas Eagle Ford site, five XSPCT spectrometers analyzed identical gas streams, consistently meeting GPA 2261 reproducibility standards. Laboratory tests further confirmed the instrument's precision, aligning with GPA 2261 repeatability requirements.
Industry Impact
"The XSPCT's industry validated accuracy and real-time insights set a new standard for custody transfer, delivering unmatched value," said Ryan Ezell, CEO of Flotek. "This technology empowers royalty owners, operators and purchasers with transparent, data-driven valuations, designed to streamline operations and boost efficiency."
Flotek's customer validation achievement and industry endorsement position the XSPCT to streamline operations, reduce costs and enhance data-driven decision-making for upstream and midstream operators worldwide."
About Flotek Industries, Inc.
Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. Flotek's technologies leverage real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 20+ years of field and laboratory data and a global presence in more than 59 countries.
Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.
Flotek is based in
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 will, continue, expect, 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. 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. Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), 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.
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SOURCE Flotek Industries, Inc.
FAQ
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