- Solazyme (SZYM +10.9%) opens sharply higher after announcing a strategic agreement with Flotek (FTK +2.8%) to develop and market advanced drilling fluid technologies, including globally commercializing and marketing the Flocapso drilling fluid additive.
- The two companies say lab and commercial testing show that the Flocapso additive will allow the use of water-based fluids in wells that previously required more expensive and invasive oil-based products.
- In addition, FTK will market SZYM's Encapso lubricant, the first commercially available, biodegradable encapsulated lubricant for drilling fluids in certain Middle Eastern markets.