Solazyme, Inc. (NASDAQ:SZYM), a renewable oil and bioproducts company,
announced today its entry into the oil and gas drilling fluids additive
market. Building upon its proprietary platform of high performance,
sustainable TailoredTM oils, Solazyme has introduced EncapsoTM,
the world’s first encapsulated biodegradable lubricant for drilling
fluids designed to deliver high-grade lubricant precisely at the point
of friction where and when needed most.
“The demand for energy continues to grow but new sources of fossil fuels
are more difficult than ever to recover. As long as the oil and gas
industry continues to extract fossil fuels, we at Solazyme view it as an
imperative that it is done in a more sustainable way to protect the
environment for generations to come,” said Solazyme CEO Jonathan
Wolfson. “The drilling industry needs new high-performance and
sustainable technologies to meet rising energy demand and increased
drilling. Encapso’s unique targeted lubricant delivery system helps
reduce the costs for the oil and gas exploration and production industry
and provides improved drilling performance.”
Encapso’s efficacy has been demonstrated both in the lab and in the
field in over a dozen commercial wells in a number of basins including
the Williston Basin, Denver-Julesburg, and the Permian Basin. Encapso™
increases drilling speed and control, and protects valuable equipment.
The majority of work so far has been done in horizontal wells, helping
demonstrate Encapso’s strong performance capabilities when it comes to
“building the curve”—or the point where an unconventional well
transitions from vertical to horizontal. This is often when drilling
engineers find the most difficulty managing drilling friction. Improving
the speed and efficiency of drilling translates directly to cost savings
for well operators.
Customer Testimonials
“After adding Encapso to the system we saw a rate of increase in our
rate of penetration from two feet per hour to 40 feet per hour. Encapso
is a game changer because you’re reducing your torque, reducing your
drag, and reducing your coefficients of friction all at the same time,”
said Philip Johnson, a senior drilling engineer who worked with Encapso
on behalf of a major exploration and production company. “No other
product on the market does that.”
”Our observation of the product is that it has consistently added
value,” said David Cunningham, Regional Manager at Anchor Drilling
Fluids, USA. “The biggest impact has come when we’ve seen increases in
rate of penetration and reductions in torque.”
“When I learned that this lubricant was encapsulated and therefore would
deliver a drilling lubricant in a more targeted way, I saw the
tremendous potential benefits,” said Tony Rea, President of Arc Fluids.
“I introduced Encapso to a few customers and worked with them on several
wells that they were drilling. In all cases, we witnessed marked
improvements in directional control.”
About Solazyme, Inc.
Solazyme, Inc. (SZYM) is a renewable oil and bioproducts company that
transforms a range of low-cost plant-based sugars into high-value oils.
Headquartered in South San Francisco, Solazyme’s renewable products can
replace or enhance oils derived from the world's three existing sources
– petroleum, plants and animal fats. Initially, Solazyme is focused on
commercializing its products into three target markets: (1) fuels and
chemicals, (2) nutrition and (3) skin and personal care.
Solazyme®, Tailored™, Encapso™, the Solazyme logo and other trademarks
or service names are trademarks of Solazyme, Inc.
This press release contains certain forward-looking statements about
Solazyme, including statements that involve risks and uncertainties
concerning: its development and commercialization plans and their
timing; the anticipated demand for its products; the attributes and
performance of its products and uses therefor. When used in this
press release, the words “will”, “expects”, “intends” and other similar
expressions and any other statements that are not historical facts are
intended to identify those assertions as forward-looking statements. Any
such statement may be influenced by a variety of factors, many of which
are beyond the control of Solazyme, that could cause actual outcomes and
results to be materially different from those projected, described,
expressed or implied in this press release due to a number of risks and
uncertainties. Potential risks and uncertainties include, among others:
implementation risk in deploying new technologies; Solazyme’s limited
history in manufacturing and commercializing products; the success and
performance of Solazyme products in targeted applications and markets;
market acceptance of its products; its ability to obtain requisite
regulatory approvals; and its ability to enter into and maintain
strategic collaborations. Accordingly, no assurances can be given that
any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what impact they will have
on the results of operations or financial condition of Solazyme.
In addition, please refer to the documents that Solazyme files with
the Securities and Exchange Commission, including its Annual Report on
Form 10-K, for a discussion of these and other risks. You are cautioned
not to place undue reliance on forward-looking statements, which speak
only as of the date of this press release. Solazyme is not under any
duty to update any of the information in this press release.
Copyright Business Wire 2014