SOURCE: Vivione Biosciences Inc.

Vivione Biosciences

March 11, 2015 07:00 ET

Industry Thought Leaders Applying Vivione Biosciences Leading Edge Diagnostic Technologies to Critical Oil and Gas Operating Problems

DALLAS, TX--(Marketwired - March 11, 2015) - Vivione Biosciences Inc. ("Vivione") (TSX VENTURE: VBI), announced today an impressive array of early adopters for its comprehensive suite of rapid microbial tests recently launched in the Oil and Gas Markets through its affiliate, Petro Chemical Bio-Diagnostics (PC Bio). Just five months ago, Vivione introduced its RAPID-B system to the Oil and Gas Industry through PC Bio, and already companies such as Newpark Drilling Fluids, Trican Well Service, Enervest and Newfield Exploration Co. are utilizing these services to gain unparalleled insights into the treatment of damaging oilfield bacteria. Bacteria related corrosion, well souring, and plugging issues cost exploration and production companies billions of dollars annually. The industry employs cutting edge chemical treatments to combat bacteria in the field, but has lacked advanced microbial testing techniques to accurately diagnose the problem or measure the effectiveness of their biocide treatments. The power of the RAPID-B technology in combination with PC Bio's other microbial laboratory services have begun to catch the attention of independent and major oil operators who want a more accurate and effective approach to combating microbial damage to their producing wells.

Early this year a large oilfield service company made the decision to purchase the RAPID-B System and incorporate it into their fluid testing and water treatment services. That decision has proved to be profitable as just this week they reported that a major E&P company with a market capitalization of over $50 billion hired them to test for bacteria in water and frac fluids in West Texas in order to systematically identify potential points of bacterial contamination throughout all stages of the frac. They deployed their mobile testing lab, collected fluid samples at key points in the process, including analysis of various size proppants and gels. The Rapid-B™ technology was able to provide them with the live bacteria counts within 15 minutes of initiating the test, resulting in identification of several samples with high bacteria levels detected after the biocide treatment. The Rapid-B™ identified quantitative values of live bacteria allowing the service company time to apply additional treatment of biocides before the fluid entered the formation.

Vivione's CEO Kevin Kuykendall said, "The customer response to the results RAPID-B delivers has been extremely positive. Rapid diagnosis and real time monitoring of biocide treatment effectiveness has always been the Achilles Heel in the area of controlling harmful bacteria like sulfate reducing bacteria and acid producing bacteria. With the Rapid-B System and PC Bio's testing services we can now, for the first time get a thorough handle on the problem and address it quickly with confidence. This represents a significant change in the way E&P companies can combat SRBs and APBs and lower their operating costs."

Garett Heath of Newpark Drilling Fluids Canada also shared, "We view PC Bio's service offerings as a powerful tool to help provide better insight into producing wells and fluid sources where bacterial contamination is of a concern. We strive to surpass our customers' expectations by continuously looking for up and coming, innovative testing that will provide meaningful data to increase our efficiencies in remediating microbial contamination of producing wells and water sources. PC Bio's service offering along with Vivione's RAPID-B platform provides a value-added technology that is designed to do both." 

In addition to proactively addressing bacteria related damage to well equipment and pipelines, bacteria testing is also necessary in order to recycle and reuse oilfield waters during the hydraulic fracturing process. To effectively reuse flowback water, it must be first analyzed for microbial contamination. If contamination is present, even in low concentrations, the RAPID-B System can detect this condition on the spot, and can confirm the efficacy of the subsequent treatment process with a much greater degree of confidence. PC Bio's suite of technologies brings a quantum leap in speed and accuracy to the entire process from start to finish. Grant Farion, the Technical Supervisor, International R&D, for Trican Well Service said, "We conduct fracturing services in Canada, Russia, Kazakhstan and the US. There is a general trend away from fresh water toward produced and recycled water, which increases the potential for bacteria to be present in the waters we use."

Kuykendall concluded, "Companies like these that are utilizing our services are industry thought leaders in optimizing Oil and Gas operations. To have them adopt PC Bio's suite of testing services and utilize our technology is a strong endorsement that our RAPID-B platform has successfully transferred from its initial setting in the Food Safety Industry to the much larger Energy Industry. With the recent drop in oil prices placing additional pressure on operating margins, it becomes even more important to avoid the costly problems that bacteria can cause. Our RAPID-B System and related services give energy companies a brand new tactic to control costs through precise, rapid and highly relevant information concerning the health of their producing wells."

About Vivione

Vivione is a TSX Venture Exchange listed biosciences company focused on the commercialization of its proprietary RAPID-B platform; an integrated platform of hardware, software and reagents that quickly and accurately identifies, quantifies and qualifies bacteria and other pathogens in key food & water safety, clinical, industrial and oil & gas environments. For more information, visit www.VivioneBiosciences.com.

About Petro Chemical Bio-Diagnostics

Petro Chemical Bio-Diagnostics was created through a strategic alliance with Vivione Biosciences, a bacteria detection company, and the Institute for Environmental Health, Inc. (IEH) an internationally renowned microbiological laboratory network. Together as PC-Bio we are able to provide greater detail and a deeper level of understanding of a well's microbial community than testing methods have historically delivered. The strategic alliance brings to market a streamlined data-driven set of service offerings aimed at improving oil and gas production relative to the detrimental effects of naturally occurring bacteria.
www.PCBDservices.com

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although Vivione believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to Vivione. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. This news release contains forward-looking information relating to the commercialization and the development of the RAPID-B platform. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this news release are made as of the date of this news release and, except as required by applicable law, Vivione does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. Vivione undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Vivione, or its financial or operating results or (as applicable), their securities.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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