An advanced drilling fluid additive called Flocapso will be developed and marketed under a new agreement signed by Flotek Industries, Inc. and Solazyme, Inc.
The two companies revealed on April 14 that they would work together to commercialize the proprietary formulation which combines Flotek's patented Complex nano-Fluid (CnF) chemistries with Solazyme's proprietary Encapso technology. They plan to continue product development and then cooperate in marketing Flocapso worldwide.
The new product is claimed to be a highly effective and environmentally conscious drilling fluid additive that provides significant advantages in lubricity and stabilization, improving drilling efficiency and effectiveness. Laboratory and commercial tests indicate that Flocapso will allow the use of water-based fluids in wells that previously required more expensive and invasive oil-based products, the partners said.
Under a separate agreement, Flotek will also market Solazyme's Encapso lubricant in certain markets in the Middle East. Flotek has agreed to certain minimum purchases of Encapso from Solazyme in the first year of the agreement.
"Our partnership with Solazyme is another important step in Flotek's quest to identify and partner with innovative and efficacious technologies that advance oilfield chemistry for the benefit of our clients," commented John Chisholm, chairman, president and CEO of Flotek. "Solazyme's development of Encapso and its rapid recognition as a break-through lubricant in drilling applications is testament to Solazyme's world-class research team."
