FTK secures a decade-long deal with PREPA to support a 400 MW natural gas project amid Puerto Rico’s energy crisis.
Flotek Industries (FTK) shares rose 4.8% in pre-market trading after winning a $400M contract with the Puerto Rico Electric Power Authority (PREPA). The 10-year agreement involves supporting a 400 MW natural gas-fired power generation project aimed at stabilizing the island’s energy supply.
The deal addresses Puerto Rico’s ongoing energy crisis, which has led to frequent blackouts and infrastructure challenges. No prior contract of this scale was disclosed, though Flotek has previously provided services to utility providers in the region.
The pre-market gain reflects investor optimism about the company’s expanded role in critical energy infrastructure projects.