TenEx Technologies LLC is joining Chevron Technology Ventures’ Catalyst Program, designed to accelerate the growth of early-stage companies developing technologies that can be transformative for the energy sector.
TenEx said in a media release the opportunity comes at a crucial time as industry operators seek to balance capital discipline with the necessity for technology-driven productivity and cost savings, while the U.S. focuses on energy security and leadership.
TenEx said its innovative chemistry solutions help producers recover more hydrocarbons from both new completions and existing wells. The goal is to increase reserves, lower the cost per barrel of oil equivalent (BOE), and enhance environmental performance.
TenEx CEO Miguel Peña said, “As the industry shifts from expansion to efficiency, our solutions can give operators the edge to boost production, improve operational efficiencies, extend critical surface and subsurface equipment life cycles, reduce environmental impact, and improve returns on investment”.
“The Catalyst Program provides TenEx with the framework to bring our breakthrough technologies to market faster”, added Peña. “This collaboration strengthens our ability to contribute meaningfully to U.S. energy security and global operational excellence”.
TenEx has a portfolio of next-generation chemical technologies for the energy industry, including MicroHOLD, which has been deployed in thousands of stages across the U.S. and Canada to improve formation breakdown, lower pumping times, and drive higher long-term production, the company said. Its FullStim is a tailored suite of production chemistries that extends the life of pumps and equipment while reducing intervention costs and unlocking incremental production from existing wells. Meanwhile, SandBOND provides a solution to address costly sand production and flowback challenges in both new and existing wells, with a particular focus on horizontal wells, the company said.
Most of its solutions are water-based and reduce or eliminate hazardous chemicals like acids and solvents, according to the company.
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