Biota featured in Bloomberg article “Big Oil’s Rejection of Silicon Valley Is Finally Coming to End”

Microbes in Rocks

So several companies, including Norway’s Statoil ASA and Houston-based Anadarko Petroleum Corp., have hired Biota Technology to help them identify the most bankable parcels. By comparing microbes in rock samples to those from oil produced in the area, Biota can map out choice draining spots and, according to founder Ajay Kshatriya, boost a well’s output by millions of dollars.

“It’s a whole new data source for an industry that’s never looked at this before,” said Kshatriya, an engineer who used to work in biotech. “New technology innovation is now existential. It’s not a nice-to-have to create a couple more points of profit margin. It’s, ‘If we don’t get more economic, our field is out of the money. So we need that technology to remain competitive.’ ”

Link to article