Exhibit 99.1

		FOR IMMEDIATE RELEASE
		CONTACT:    Investor Relations
		(713) 726-5376
		IR@flotekind.com

Flotek Industries, Inc. Announces Third Quarter, 2016 Financial and Operating Results and Conference Call Information

HOUSTON, November 2, 2016 /PRNewswire/ — Flotek Industries, Inc. (“Flotek” or the “Company”) (FTK) today announced results for the three months ended September 30, 2016.

As reported on Form 10-Q filed with the U.S. Securities and Exchange Commission, Flotek reported revenue for the three months ended September 30, 2016, of $73.7 million, a decrease of $14.3 million, or 16.2%, compared to the same period of 2015. The decrease in revenue

was driven by the continued decline in drilling activity, as indicated by the 43.2% reduction in average North American rig count for the three months ended September 30, 2016, versus the same period of 2015. Sequentially, revenue increased $1.4 million, or 1.9%, when compared to the second quarter, 2016.

According to data collected by the U.S. Energy Information Administration (“EIA”), completions in the seven most prolific areas in the lower 48 states decreased 41.4% and 48.0% for the three and nine months ended September 30, 2016, respectively, when compared to the same periods of 2015. Sequentially, completions decreased 1.3% when compared to the second quarter of 2016.

Flotek reported a Loss from Operations of $4.3 million for the quarter ended September 30, 2016.

The Company recorded an income tax benefit of $2.2 million, for the three months ended September 30, 2016.

For the quarter ended September 30, 2016, the Company reported a net loss of $2.7 million or $(0.05) per common share (fully diluted), compared to net income of $2.0 million, or $0.04 per common share (fully diluted) in the third quarter of 2015.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization, or adjusted EBITDA (a non-GAAP measure of financial performance), for the quarter ended September 30, 2016, was $(0.8) million, compared to $7.3 million for the quarter ended September 30, 2015.

For the quarter ended September 30, 2016, Flotek’s non-cash share-based compensation expense was approximately $3.7 million ($2.4 million, net of tax at 35%). For the quarter ended September 30, 2015, non-cash share-based compensation was $3.6 million ($2.3 million, net of tax at 35%).

A presentation of non-cash share based compensation and a reconciliation of GAAP net income to adjusted EBITDA can be found at the conclusion of this release. Management believes that adjusted EBITDA provides useful information to investors to assess and understand operating performance.

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Consolidated gross margin decreased to 34.4% for the quarter ended September 30, 2016, from 35.5% for the corresponding 2015 period. However, consolidated gross margins increased sequentially, up from 33.1% for the quarter ended June 30, 2016.

“The ongoing search for stability in oilfield activity continued in the third quarter as overall drilling and completion activity remained choppy in the July through September period,” said John Chisholm, Flotek’s Chairman, President and Chief Executive Officer. “While we saw a slow but steady improvement in business from the beginning to the end of the quarter, we remain guarded in our assessment of overall oilfield activity. That said, we continued to hold our own in energy chemistry with new opportunities which allowed us to hold our core CnF^® business steady even as a large client experienced a transient decrease in completion activity. Moreover, we did experience modest improvement in our drilling technologies business, the result of continued expense rationalization, moderate market share growth in our U.S. operations and ongoing international opportunities.”

“While a handful of headwinds – including holidays and continued oil price volatility – could impact the fourth quarter, we continue to see nascent signs of new business development into the New Year as clients and prospects are adjusting to a new pricing reality and search for ways to improve the productivity of each and every new well, enhancing the potential opportunities for expansion of the use of CnF^® in key basins such as the Permian,” added Chisholm. “Moreover, we are optimistic that our expanded chemistry offerings and Prescriptive Chemistry Management™ program, or PCM, will expand our reach to new clients and geographies as we enter the New Year.”

“That said, predicting the exact direction of business activity is always difficult and is made even more so by the most pronounced downturn in the industry in my career,” added Chisholm. “Given the continued uncertainty and our desire to maximize our flexibility, we are pleased to have renegotiated our credit facility with PNC Bank. We believe the new facility provides more than adequate flexibility into the foreseeable future – including extending the maturity into 2020 – as well as streamlines the credit with PNC as the sole lender. PNC has been a great partner and continues to be willing to work with Flotek throughout the cycle.”

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“While we still have work to do, we are making progress in our review of strategic opportunities for our non-chemistry energy businesses and have advanced discussions with parties about possible options. We remain encouraged by the interest and will look to push to a resolution in early 2017.”

“Nothing is likely to showcase Flotek’s future more than our new Global Research and Innovation Center, which opened in the third quarter,” concluded Chisholm. “Our focus on client collaboration centered on addressing their most arduous challenges will fit nicely with our new, state-of-the art facility, which we also hope to use as an industry-wide focal point for advanced continuing education and interactive learning.”

“Make no mistake, 2016 has presented challenges to Flotek and the industry that are greater than most expected. However, even with the continued challenges in the short-term environment, we continue to look ahead optimistically, knowing that such challenges present longer-term opportunities,” added Chisholm. “We look ahead into 2017 with a sense of optimism that, as the market finds its footing, Flotek is well positioned to expand its leadership in oilfield chemistry technology, both here and in new global markets.”

A complete review of the Company’s third quarter financial results and quarter-end financial position can be found in the Company’s quarterly report filed with the U.S. Securities and Exchange Commission this afternoon.

Third Quarter 2016 – Segment Results

Energy Chemistry Technologies segment reported revenue of $45.0 million for the three months ended September 30, 2016. Energy Chemistry Technologies revenue for the three months ended September 30, 2016, decreased $15.2 million, or 25.2%, compared to the same period in 2015. Energy Chemistry Technologies revenue for the nine months ended September 30, 2016, decreased $30.2 million, or 18.5%, versus the same period in 2015. Segment revenue for the three months ended September 30, 2016, increased $1.6 million, or 3.8%, compared to second quarter, 2016.

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Income from operations of $6.2 million for the Energy Chemistry Technologies segment decreased $8.1 million, or 56.6%, for the three months ended September 30, 2016, compared to the same period of 2015. Income from operations for the Energy Chemistry segment for the nine months ended September 30, 2016, decreased $11.2 million, or 34.0%, compared to same period of 2015. Income from operations for the segment decreased $1.4 million, or 18.3%, compared to second quarter, 2016.

Consumer and Industrial Chemistry Technologies (“CICT”) revenue of $19.3 million for the three months ended September 30, 2016, increased $5.4 million, or 39.2%, compared to the same period in 2015. CICT revenue for the nine months ended September 30, 2016, increased $16.3 million, or 38.1%, versus the same period in 2015. Segment revenue for the three months ended September 30, 2016, decreased $1.4 million, or 6.7%, compared to second quarter, 2016.

Income from operations for the CICT segment of $2.4 million for the three months ended September 30, 2016, increased $0.7 million, or 40.8%, compared to the same period of 2015. Income from operations for the CICT segment for the nine months ended September 30, 2016, increased $1.7 million, or 25.3%, compared to same period of 2015. Income from operations for the segment decreased $0.3 million compared to second quarter, 2016.

Drilling Technologies reported revenue of $7.2 million for the three months ended September 30, 2016, a decrease of $3.6 million, or 33.4%, relative to the same period in 2015. Drilling Technologies revenue for the nine months ended September 30, 2016, decreased $21.8 million, or 52.1%, versus the same period in 2015. Segment revenue for the three months ended September 30, 2016, increased $0.8 million, or 13.0%, compared to second quarter, 2016.

Loss from operations for the three months ended September 30, 2016, improved by $1.7 million versus the same period of 2015, on a 33.4% revenue decrease, due to a 33% year-over- year headcount reduction, (and approximately 50% from peak personnel levels) field location closures, and other operational cost improvements. Loss from operations for the nine months

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ended September 30, 2016, increased by $18.9 million versus the same period of 2015, primarily resulting from the second quarter 2015 and first quarter 2016 impairment charges. Loss from operations, excluding impairments, for the nine months ended September 30, 2016, increased by $2.0 million, versus the same period of 2015, primarily due to reductions in revenue and pricing pressure that resulted in customer price concessions, partially offset by cost reductions throughout the year.

Revenue for the Production Technologies segment of $2.1 million for the three months ended September 30, 2016, decreased by $0.9 million, or 30.4%, from the same period in 2015. Production Technologies revenue for the nine months ended September 30, 2016, decreased $3.4 million, or 35.8%, versus the same period in 2015. Segment revenue for the three months ended September 30, 2016, increased $0.3 million, or 14.8%, compared to second quarter, 2016.

Loss from operations increased $0.3 million and $4.9 million for the three and nine months ended September 30, 2016, respectively, versus the same periods in 2015. Loss from operations, excluding impairments, increased by $1.7 million for the nine months ended September 30, 2016, versus the same period in 2015. These increased losses were due to lower revenue volume and increased costs as the segment continues to market and pursue new product strategies.

Third Quarter, 2016 - Financial Metrics

Accounts receivable, net of the allowance for doubtful accounts, at September 30, 2016, was $53.7 million, compared to $49.2 million at December 31, 2015. The Company’s allowance for doubtful accounts was 1.8% of accounts receivable at September 30, 2016.

Depreciation and amortization expense not included in gross margin, for the quarter ended September 30, 2016, decreased $0.1 million versus the same period of 2015.

Interest and other expense for the three months ended September 30, 2016, increased $0.3 million versus the same period of 2015.

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Operational and Project Updates

As noted, Flotek and PNC Bank have reached an agreement to change the Company’s credit facility, providing $65 million in total credit and extending the maturity until May, 2020. These changes provide Flotek with additional financial flexibility as well as a streamlined lending and administration process.

“PNC’s willingness to work with us and provide a holistic credit facility that meets our financial and strategic needs is an indication of the quality of our lending partner as well as the relationship we have built over the past five years,” said Chisholm. “While the reality of oilfield credit risk does incrementally increase our borrowing costs, the terms of this restated facility remain favorable relative to many of our oilfield brethren, especially given that our ongoing interest rates remain unchanged. We appreciate PNC’s willingness to find ways to continue to meet our needs, even as credit in our industry continues to tighten.”

Flotek’s recent acquisition of International Polymerics, Inc. (“IPI”) has generated meaningful interest from existing and prospective clients. The Company has made progress in transferring IPI into the Flotek systems which will allow for near-complete sales, operational and financial integration in the coming months. In addition, IPI’s Monahans, Texas facility – in the heart of the Permian Basin – is being transitioned to handle the full suite of Flotek chemistry logistics which should provide an additional competitive advantage as Flotek continues to focus on Permian Basin growth.

“The IPI purchase should provide similar benefits to the acquisition of Florida Chemical as we grow our operational and logistics footprint in the Permian Basin,” said Chisholm. “In addition, the opportunities to offer both natural polymer and slick water delivery systems to our clients – in combination with CnF^® - should expand our opportunities with both existing and prospective clients, especially as the market finds its footing. While we believe there are immediate strategic benefits resulting from IPI’s assets, the long-term benefits should be even more compelling as we continue the development of our Prescriptive Chemistry Management™ service.”

On the international front, Flotek continues to expand its reach, most recently in China. The Company announced today it has signed a cooperative agreement with Anton Oilfield Services Group, a Beijing-based publicly-traded, integrated oilfield services provider with primary exposure in China as well as other global markets in the Middle East, Central Asia and the

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Americas. Under the terms of the Agreement, Flotek will provide Anton with exclusive rights to use certain Flotek chemistry in China and other key Anton markets in exchange for certain purchase commitments. In addition, Anton has appointed John Chisholm as a non-executive director, an appointment that has been approved by the Flotek Board of Directors.

“We are pleased that a Company with Anton’s reach has selected Flotek as a strategic partner, especially in one of the key global hydrocarbon growth markets outside of North America,” said Chisholm. “Our discussions quickly led me to understand that the cultures of Anton and Flotek fit well together, especially given Anton’s desire to advance oilfield technology to the next level in China and other Eastern Hemisphere markets. Anton’s belief in the efficacy of Flotek’s chemistry and their commitment to work side-by-side to promote Flotek technology in the Eastern Hemisphere should be a key component of our growth in Asia and beyond. I am honored to be asked to join Anton’s Board, another indication of the level of commitment to cooperation between our companies that, I believe, will benefit Flotek in the coming months and for years to come.”

Flotek’s Argentinian initiative continues to progress with teams from Flotek and YPF scheduled to meet again this month to review results from the initial pilot wells using CnF^® chemistry and develop well design for the next series of wells to be drilled in the New Year. In addition, Flotek and Y-TEC, the technology arm of YPF, continue to work on plans for broader collaboration on both oilfield and industrial chemistry applications.

“We continue to be pleased with the progress in Argentina and also recognize that we are in the early stages of the development of a long-term partnership with Y-TEC and YPF,” added Chisholm. “International relationships require time and patience to develop, but it is hard not to be enthusiastic given our early experiences.”

On the non-chemistry front, international Teledrift^® activity continues to show steady progress with revenues of approximately $2.9 million in the third quarter versus $2.0 million in the previous quarter.

“While the process of exploring strategic options for our non-chemistry energy businesses is progressing, we also continue to work hard to create a structure for those businesses that

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minimize costs and maximize opportunities,” added Chisholm. “We believe that focus – in the face of incredible headwinds – not only serves our stakeholders well but exemplifies the value of the professionals who lead these business efforts. The reduction in costs and operating improvements should not be overlooked.”

Flotek’s Consumer and Industrial Chemistry Technologies posted another solid quarter, with year-over-year sales up 39.2% compared to same period in 2015. CICT’s nine month results for revenue, operating income and EBITDA are all at record nine month highs since Flotek’s acquisition of Florida Chemical Company in May 2013. CICT continues to experience strong demand for its flavor compounds, which could provide unique growth opportunities for the next several years. As such, Flotek is considering expanding capabilities to meet growing client demand, including the recent addition of Dr. David McKeithan, a veteran of citrus chemistry and a former client, who will further our research and innovation efforts in the flavor and fragrance arena.

“Our CICT segment has provided Flotek with important diversification during this protracted downturn in the energy market,” said Josh Snively, Flotek’s Executive Vice President of Research and Innovation and President of Florida Chemical. “CICT’s internal value goes beyond the segment’s operating performance, as CICT provides strategic procurement terms for internal raw material needs, a key benefit of the Florida Chemical acquisition. As current citrus prices remain firm and above historic levels, we believe Flotek is well positioned to meet both internal and external demand with competitive pricing advantages.”

Concluding Thoughts

On a personnel note, Rob Schmitz – Flotek’s Chief Financial Officer – announced that he will retire in the first quarter of 2017, after completion of Flotek’s year-end close and the Company’s annual report filing. The Company will begin transition planning immediately with Chief Financial Officer Emeritus Rich Walton leading the process.

“Rob arrived at Flotek at a critical point in the Company’s evolution and was an integral part – along with Rich Walton – in developing the accounting and financial infrastructure that allowed Flotek to accelerate its regulatory filings, improve its financial transparency and develop an

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accounting management program that continues to provide numerous internal leadership and external messaging benefits,” said John Chisholm. “Rob’s leadership and dedication to excellence has been a key component of Flotek’s success and, in his absence, will remain a hallmark of Flotek’s finance and accounting systems. He will be missed.”

“Finally, there is little doubt that the last two years have been an arduous journey for those in the oilfield,” concluded Chisholm. “However, I sincerely believe that the Flotek team has pressed forward with a sense of mission and – while our results have been impacted by the cyclical quagmire – we still have a lot to be thankful for and proud of. Consider this: In the first nine months of 2016 we have nearly equaled the total volume of CnF^® sold in all of 2014 with only about one-third the total completion activity. For Flotek, that is a sign of progress, a testament to the focus of our people and the result of a tireless focus on execution. We continue to believe we are among the best positioned companies in the oilfield to compete through the trough and emerge strong as we enter the New Year.”

Update on Legal Matters

As previously disclosed, the Securities and Exchange Commission is conducting a fact-finding inquiry with which the Company is fully cooperating. Various shareholder lawsuits have also been filed which the Company is seeking to dismiss. The Company will provide updates as appropriate but is unable to predict the timing of such updates or outcomes.

Conference Call Details

Flotek will host a conference call on Thursday, November 3, 2016, at 7:30 AM CDT (8:30 AM EDT) to discuss its operating results for the three months ended September 30, 2016. To participate in the call participants should dial 800-701-9749 approximately 5 minutes prior to the start of the call.

The call can also be accessed from Flotek’s website at www.flotekind.com.

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About Flotek Industries, Inc.

Flotek is a global developer and distributor of a portfolio of innovative oilfield technologies, including specialty chemicals and down-hole drilling and production equipment. It serves major and independent companies in the domestic and international oilfield service industry. The Company also serves commercial and industrial markets with a portfolio of diverse chemistry technologies. 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.

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 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.

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Flotek Industries, Inc.

Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings*

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Flotek Industries, Inc.

Reconciliation of Earnings Per Share Adjusted For Impairment

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Flotek Industries, Inc.

Unaudited Consolidated Balance Sheets

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Flotek Industries, Inc.

Unaudited Consolidated Statements of Operations

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Flotek Industries, Inc.

Unaudited Consolidated Statements of Cash Flows

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