Flotek Industries Inc. (NYSE: FTK) has appointed David R. McMahon as vice president of artificial lift technologies, with plans to expand the company's profile in artificial lift.
McMahon has spent the last 22 years of his career in the artificial lift industry with various units of Baker Hughes, most recently serving as the area manager for the Rocky Mountain region for artificial lift. He has also served in managerial and sales positions for Baker Hughes Centrilift in Wyoming, Texas, and Oklahoma. He began his career as an engineer with Baker Oil Tools in Broken Arrow, Oklahoma, in 1991. He is a graduate of Oklahoma State University with a degree in mechanical engineering and design, and also holds a Master of Business Administration degree from the University of Phoenix.
To facilitate the growth in artificial lift, Flotek plans to commit $4 million in capital to new equipment and improved facilities in key basins, and to open a new administrative and marketing office in Denver, Colorado. McMahon and his team will evaluate existing products and services with a focus on improving penetration and margins, as well as expanding the company's service offerings from its operations in Gillette, Wyoming; Vernal, Utah; Dickinson, North Dakota; and Farmington, New Mexico.
Flotek also plans to open three new service centers in key locations in the coming year. In addition, McMahon will focus on continuing to grow international opportunities, including the sale of PetroValve systems into South America and other key international markets.