Houston energy tech co. sells business segment to National Oilwell Varco

Houston-based Flotek Industries Inc. has sold its drilling technologies segment to National Oilwell Varco as the company shifts its focus to its core businesses of energy, consumer and industrial chemistry.

Flotek (NYSE: FTK) said it had been looking to sell its drilling technologies and production technologies business segments during a year-end earnings call. The two segments were discontinued as of the end of 2016.

The deal with National Oilwell Varco (NYSE: NOV) was valued at about $17 million,…

Houston energy tech co. sells business segment to National Oilwell Varco syndicated post

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