SAN DIEGO, California – Biota Technology, the oilfield DNA sequencing pioneer, has achieved a critical milestone on its path to commercialization: the diagnostic has been deployed by a majority of the top 20 U.S. shale producers in the U.S. Biota continues to attract top-tier investors, recently closing a multi-million dollar financing led by Illumina Ventures.
“Biota is pioneering DNA sequencing in the energy industry,” said CEO Ajay Kshatriya.
Biota works across all major shale plays in both oil and gas production.
In a recently published case study, Biota delivered compelling results in the Permian basin that uplifted the producers asset value by millions of dollars.
In just four years since inception, the company has experienced explosive growth in the adoption of DNA Sequencing, successfully analyzing over 200 wells from marquee companies such as Anadarko Petroleum, Marathon Oil, and Statoil.
“By applying DNA sequencing to identify and differentiate fluid sources, Anadarko is aiming to fine-tune its understanding of drainage over time with the goal of maximizing value.”
“Biota represents an entirely novel application of next-generation DNA sequencing,” said Dr. Nick Naclerio, founding partner of Illumina Ventures.