Oil innovation company was awarded the honor by the 2021 World Finance Energy Awards for its bio-based surfactants that boost production rates and slow declines, while helping operators meet ESG goals.
HOUSTON (December 8, 2021) Oil innovation company Locus Bio-Energy Solutions (Locus BE) was named Best Sustainability Company, North America today by the 2021 World Finance Energy Awards. This is the second recognition from World Finance for the company’s performance-enhancing oilfield technologies based on novel, green bio-based surfactants (biosurfactants). The low-CAPEX and sustainable solutions address the oil and gas industry’s most pressing financial challenges and help companies achieve ESG compliance through increased production of low-carbon, low-cost barrels.
“Locus BE’s environmentally friendly biosurfactant offerings are proving themselves as an asset to the oil and gas sector and stakeholders alike, showing that ESG and financial challenges can be successfully addressed without sacrificing performance,” said Jonathan Rogers, CEO of Locus BE. “We are honored to be recognized by World Finance for our work in developing these bio-based surfactants that support the increasing need—both in North America and globally—for sustainable oil production.”
Meeting North American Oil Demand
On the demand side, the post-COVID global economy is expected to grow at a rate of 5.9 percent in 2021 and 4.9 percent in 2022. At the same time, the global oil market is undersupplied by roughly 1.5 million bpd, which is contributing to a dramatic rise in oil and gas prices. As operators strive to meet projected energy demands in the coming decade, they face a $600-billion shortfall in planned investment, while government policies and capital providers push for the industry to meet net-zero emissions targets.
In a relatively short time, Locus BE’s bio-based surfactants have made significant contributions to advancing sustainability and profitability across top U.S. oilfields by boosting oil supply from current assets. Extensive field deployments in the Appalachian, Permian, Eagle Ford and Williston basins have demonstrated the superior ability of Locus BE biosurfactants to outperform traditional surfactants at a fraction of the dosage rate and cost. Operators across these top basins consistently see up to 2x more initial production with sustained production increases of 45% or higher, resulting in 2-3x return on investment and rapid payback of treatment cost.
Locus BE also has the only biosurfactant treatments approved by the Texas Railroad Commission as a tertiary EOR technology, which qualifies users in the state for a 10-year, 50% severance tax credit on all oil produced—saving millions of dollars annually.
Driving Sustainability And Low-Carbon Barrels Of Oil
In terms of sustainability benefits, Locus BE’s biosurfactants can dramatically lower environmental impact in the oil field. The solutions are produced in a carbon-neutral process and made from biodegradable, 100% renewable raw materials. They have 10x lower toxicity than traditional oilfield chemistries and provide a safer, more sustainable alternative with better performance. Operators can use the biosurfactants to reduce scope 1 emissions, minimize health and safety concerns and meet or exceed ESG oil and gas goals. Compared to a traditional frac in the Permian (50 stages, single well), biosurfactant stimulation of existing wells uses less than 0.1% of diesel and less than 2% of water required—with only .5 lb of carbon per barrel of oil.
Locus BE’s biosurfactants are tailored to each individual application, with solutions available for paraffin control, enhanced oil recovery, wellbore remediation, hydraulic fracturing, saltwater disposal and more. For more information or to get a custom designed program, visit LocusBioEnergy.com.
About the World Finance Energy Awards
Since 2010, the World Finance Oil and Gas Awards have been considered the pinnacle of achievement for oil and gas companies worldwide. Now, with the recognition of the ever-increasing need for innovation and the ongoing transition to renewable and sustainable energy sources, we will from this point on be known as the World Finance Energy Awards.
The overall thrust of the Energy Awards program will continue to remain oil and gas, but we now include voting and recognition for leadership, development and innovation in other important energy sources, including solar, wind, hydroelectric and nuclear power. Learn more at www.worldfinance.com/energy-awards.
About Locus Bio-Energy Solutions
Locus Bio-Energy Solutions is an oil innovation company committed to offering the best in high-level, science-driven and sustainable solutions to the oil and gas industry. Utilizing the scientific capabilities of our accelerator company, Locus Fermentation Solutions, Locus Bio-Energy turns novel, highly-potent bio-based surfactants into safe, customized treatments for upstream and midstream oil and gas applications. Our non-living, environmentally friendly biosurfactants address a wide variety of the industry’s most pressing challenges, including improving well reliability and long-term production while reducing risks, environmental impact and costs. The biosurfactant treatments are made from 100% renewable resources and have been proven to replace and outperform synthetic chemicals at a fraction of the dosage rates and cost, with a 2-3x ROI.
For further information on Locus Bio-Energy Solutions, please visit www.locusbioenergy.com.