Locus Bio-Energy Named A Finalist in Two Categories for ESG-Friendly and Profit-Forward Solutions.
HOUSTON (November 18, 2020) As operators search for new oilfield chemistries, S&P Global Platts is recognizing biosurfactants as a top green technology that can improve sustainability, increase profitability of current well operations and minimize new drilling. The solutions were developed by Locus Bio-Energy Solutions® (Locus BE), which has been named a finalist in the 2020 S&P Global Energy Awards for two categories: “Rising Star Company” and “Emerging Technology of the Year”.
Rising Star Company Finalist: Locus Bio-Energy Solutions
Locus BE was selected for its successful commercialization of environmentally friendly biosurfactant treatments that outperform and replace synthetic chemicals in boosting oil production at a fraction of the dosage rate and cost. The solutions allow operators to get more out of current assets—minimizing the need for new drilling and drastically improving safety, profitability and sustainability across oilfield operations.
“Low oil prices, scarcity of capital investments, limited operating budgets have driven a search for technologies that can improve production, ESG compliance and financial security,” said Jonathan Rogers, CEO of Locus Bio-Energy Solutions. “Locus BE’s biosurfactants offer high–performance and low-CAPEX green alternatives at less than 10% of traditional biosurfactant production costs.”
The ISO 9001-certified products are optimized for a multitude of upstream applications, including enhanced oil recovery, wellbore cleaning, completion fluid enhancement, paraffin wax and asphaltene remediation, and saltwater disposal injectivity improvers. They are the only biosurfactants approved as a tertiary EOR technology, saving operators millions of dollars annually through state tax incentives.
“Biosurfactants have been recognized by the scientific community for decades, but Locus BE is the only company that can produce them in the quantities and at the price points required for use at scale in the oil industry”, Rogers said.
Emerging Technology of the Year: SUSTAIN™
Locus BE recently launched SUSTAIN™, a biosurfactant treatment line which can sustainably boost the performance and cost efficiency of completion fluids. It is the first ESG-friendly solution that outperforms synthetic surfactants in increasing both a well’s initial production (IP) and the estimated ultimate recovery (EUR). The multifunctional solutions can penetrate the smallest nanopores and mobilize oil from even the tightest shale reservoirs that other treatments can’t reach.
“Development of this economically viable completions technology that unlocks residual oil in place and lowers costs in unconventional wells can result in a tremendous increase in domestic oil production, leading to sustainable, profitable growth,” Rogers said.
S&P Global Energy Awards: Background
Each year, S&P Global Platts highlights exemplary innovation, leadership and superior performance within the oil industry. Locus BE and other 2020 finalists were chosen from 300+ nominations across three dozen countries based on the ability to address key concerns, such as growing ESG and financial pressure on oil operators.
“Finalists like Locus Bio-Energy Solutions reflect the evolution of the industry, highlighting technology innovations as well as accelerated focus on energy transition to an ESG-friendly environment,” said Martin Fraenkel, president of S&P Global Platts.
Winners will be selected by an independent panel of judges and announced at the live-streamed Global Energy Awards Virtual Gala on December 10th. To view the full list of finalists, visit: SPGlobal.com/Platts/Global-Energy-Awards/Finalists. For more information on Locus Bio-Energy Solutions and its biosurfactant treatments, visit LocusBioEnergy.com.
About Locus Bio-Energy Solutions™
Locus Bio-Energy Solutions™ (Locus BE) has patented technology that brings green biosurfactant treatments to the oilfield proven to outperform synthetic chemicals at a fraction of the dosage rates and cost. A world-class team of R&D scientists have solved the problems plaguing other biological-based products with the development of biosurfactant treatments optimized for enhanced oil recovery, wellbore cleaning, and paraffin wax and asphaltene remediation, including the cleaning of rods, pipelines and flow lines, casings and solidified storage tank bottoms. The environmentally friendly and biodegradable solutions have been nationally recognized for their ability to maximize ESG and profitability, solve top pain points and help operators do more with less. They are the only green treatments approved as a tertiary EOR technology, qualifying users for millions of dollars annually in state tax incentives. Their unmatched success in boosting oil production and minimizing new drilling are driving sustainability and financial security across the industry. For more information, visit LocusBioEnergy.com.
About S&P Global Platts
S&P Global Platts is the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to Platts’ expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments and individuals to make decisions with confidence. For more information, visit spglobal.com/platts.