Category

Oil

Biosurfactants Highlighted as A Top Technology in S&P Global Energy Awards

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, 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”.

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Texas RRC Approves 10-Year Oil Tax Credit for Use of Green EOR Technology

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.

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