Solazyme Launches New Product Line: Encapso
March 25 2014 - 7:00PM
Business Wire
Enters Oil & Gas Drilling Market with
World’s First Encapsulated Lubricant
Targeted Delivery Technology Provides Improved
Performance and Sustainability
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.
Solazyme, Inc.Corporate Communications:Genet
Garamendipress@solazyme.comorBrainerd Communicators, Inc.Jeff
Majtyka, 212-986-6667majtyka@braincomm.comorMike Smargiassi,
212-986-6667smarg@braincomm.com