Bio Energy (BE)

As operators scramble to cut costs, the Texas Railroad Commission (RRC)—which oversees all oil & gas operations in the state, including the top U.S. oil producing Permian Basin—voted to approve a new 10-year H13 tax credit for use of a green EOR technology. Known as the AssurEOR program and developed by Houston-based oil innovation start-up Locus Bio-Energy Solutions, the biosurfactant treatments are the first cost-effective and environmentally friendly products proven to sustainably increase oil production by 40% or more and extend the lifespan of declining wells—boosting revenue and financial stability.

Amid the oil industry’s financial crisis, owners and operators across the Permian Basin will now have better access to cost-saving treatments customized to sustainably maximize well production and lower operating expenses—the result of a recent expansion announcement from oil innovation company, Locus Bio-Energy Solutions™. The growth in the basin includes a 11,000-foot expansion across four acres to its facility in Midland, Texas, which will allow the company to broaden manufacturing and blending capacities and offer more rapid deployment of the award-winning AssurEOR biosurfactant treatments—tailored to help bottom lines and ESG compliance across the industry.