secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2026-08-19T13:27:10+00:00
Accession:  0000928054-26-000084
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PREPA terminates Flotek's 10-year power contract; no revenue recognized
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- PREPA delivered termination notice Aug 18, 2026 for PPOA Contract No. 2026-P00107, effective immediately.
- Termination grounds: failure to furnish performance security and Oversight Board revocation of approval.
- Contract expected $40M annual revenue and $400M 10-year backlog; no revenue or payments received.
- Flotek had not commenced equipment deployment; 2026 financial guidance unchanged.
- Contract assigned to Flotek from Enchanted Rock on July 31, 2026 with PREPA consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805426000084/0000928054-26-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805426000084/ftk-20260818.htm
  HTML page:      https://secwatch.observer/filing/0000928054-26-000084

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