A tax credit recently approved by the Texas Railroad Commission under Statewide Rule 50 (Texas Administrative Code Rule 3.50) that qualifies leases using Locus BE’s unique non-living biological process for tertiary EOR to receive a 50% Severance tax break annually for the next 10 years.
With extensive budget cuts, an oil surplus and lack of storage, shut-ins are inevitable—but they come with some BIG risks. Don’t risk formation damage and production loss with shut-ins. An AssurEOR biosurfactant pill can help safely prepare wells and help to ensure performance when returning online.
The oil industry is in trouble, hit with the double whammy of a depressed economy due to the Coronavirus pandemic and an oil price war between Saudi and Russia. Layoffs are piling up. Salaries are being cut. Oil prices, in inflation adjusted terms, are the lowest they’ve been since the 70s and there’s no end in sight. We are all in full-on survival mode where every dollar counts. Everyone is asking a key question—what can be done to minimize operating costs while still generating maximum revenues through oil production?
Wax accumulation in wells and low oil recovery rates are two of the major challenges in the oil industry. At the same time, it is important to note that every well has its unique characteristics, such as depth, producing zones and reservoir rock type, etc.