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

Texas RRC Tax Credit

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.

Locus Bio-Energy Expansion Gives Permian Basin Operators Access to Cost-Saving Solutions

Permian Basin Expansion

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 bottoms lines and ESG compliance across the industry.

Locus Bio-Energy Solutions Expands Resources for ESG and Production Challenges in Appalachian Basin

Cambridge Expansion

In anticipation of growing demand for cost-saving treatments that successfully address cashflow and ESG concerns, Locus Bio-Energy Solutions™ has announced the addition of new resources in the Appalachian basin—including the opening of a Cambridge, Ohio facility and team expansions. The operational growth allows the oil innovation company to expand access to its award-winning biosurfactants, which safely increase production in declining wells by averages of 50%, improve performance and extend lifespan—reducing the need for new drilling and minimizing operating costs while maximizing sustainability.