Integrated Environmental Technologies, Ltd. Announces Update on Oil and Gas Market
October 01 2013 - 11:15AM
Company Commences Delivery of
Excelyte™ on Customer Sales Order, Expands Facility and Excelyte™
Production Capacity in Utah and Continues Excelyte™ Testing With
Potential Customers
Integrated Environmental Technologies, Ltd. ("IET" or the
"Company") (OTCBB:IEVM), today announced that it commenced delivery
of Excelyte™ to a water services company that utilizes Excelyte™ as
a biocide in the treatment of oil and gas production water. For the
past several months this water services company, together with the
oil production company purchasing the treated water from the water
services company, as well as the oil service company providing
drilling services to the production company, have tested the
efficacy of Excelyte™ in the treatment of oil and gas production
water. These test results showed that the production water
treated with Excelyte™ was bacteria free and had a higher viscosity
profile than production water treated with chlorine. The
viscosity of the treated water is an important characteristic since
it needs to be at a great enough level to initiate and propagate
hydraulic fracture as well as to carry sand or other proppants into
those fractures to enhance the production of oil and gas. By
using Excelyte™, the water services company is now treating
production water and reselling the water to oil and gas production
companies as opposed to collecting and disposing the production
water. Based on the test results, the water services company
placed a sales order with IET to provide Excelyte™ to treat
production water to be sold by the water services company to a
producer for a specified frac. The Company is scheduled to
deliver Excelyte™ to the water services company on a weekly basis
over the next five month period, the estimated time required for
the frac job to be completed.
The Company also continues to expand its operational
capabilities in the Uinta Basin in Utah. The Company has
increased the size of the facility and the number of its
proprietary Ecaflo™ machines and related equipment at the Uinta
facility. The Company is currently capable of producing
approximately 100,000 gallons of Excelyte™ per month at the Uinta
facility.
Excelyte™ continues to be tested by potential customers, which
include both production and water service companies, as a treatment
to eliminate bacteria and hydrogen sulfide present in produced
water and in production wells. These testing protocols are
specific to each well site due to the significant differences in
bacteria and other minerals that can exist in the production water
at each site. The Company believes that Excelyte™ is: a)
an effective biocide that eliminates bacteria in production water;
b) a better biocide as compared to chlorine and bleach since
production water treated with Excelyte™ remains bacteria free for
longer periods of time requiring less frequent treatments; c) less
corrosive to oil and gas production equipment, reducing maintenance
issues associated with more corrosive chemicals; and d) safer to
use by reducing potential chemical related injuries. The
Company continues to target production companies as its main
customer focus.
David LaVance, Chairman, President and Chief Executive Officer
of the Company, commented that, "This is an important step in the
development of our oil and gas business. The testing performed
showed not only that Excelyte™ is an effective biocide in oil and
gas applications but that it was a better alternative than chlorine
in treating production water for resale to oil and gas production
companies. With the ever growing water demand for oil and gas
production and the resulting shortage of fresh water in many oil
and gas drilling areas, we believe that the treatment and recycling
of production water will continue to grow in importance and that
Excelyte™ is the ideal biocide to meet the needs of producers – it
is effective in eliminating bacteria, it is safer for the worker
and less corrosive to production equipment than other biocides such
as bleach and chlorine and it is ultimately less costly than
competing products."
About Integrated Environmental Technologies, Ltd.
Integrated Environmental Technologies, Ltd., is a
publicly-traded company that operates through its wholly-owned
operating subsidiary, I.E.T., Inc. The Company sells anolyte
disinfecting solution under the EcaFlo™ and Excelyte™ brand names
and sells a cleaning solution under the Catholyte Zero™ brand
name. Both solutions are produced by the Company's proprietary
EcaFlo™ equipment which utilizes an electrolytic process known as
electrochemical activation to reliably produce environmentally
responsible solutions for cleaning, sanitizing and
disinfecting. EcaFlo™ Anolyte and Excelyte™ solutions are
EPA-registered hard surface disinfectants and sanitizers approved
for hospital-level use and are also approved for use as a biocide
in oil and gas drilling. The Company believes that it is
the only manufacturer of anolyte disinfecting solution with an
EPA-approved label that includes kill claims for the two most
common types of CRE's, carbapenemase (KPC) and New Delhi
Metallo-Beta Lactamase (NDM), as well as C. diff spores,
Tuberculosis and HIV. The products can be used safely anywhere
there is a need to control bacteria and viruses. Catholyte
Zero™ solutions are an environmentally friendly cleanser and
degreaser for janitorial, sanitation and food processing
uses. The Company is currently focused on selling its anolyte
solutions to agriculture and dairy farmers, oil and gas production
companies and healthcare facilities. To learn more about
Integrated Environmental Technologies, Ltd. and I.E.T., Inc.,
please visit our websites at www.ietltd.net
(investor relations) and www.ietecaflo.com (product
information).
Forward-Looking Statements
Statements about the Company's future expectations and all other
statements in this press release other than historical facts are
forward-looking statements. Such statements are subject to certain
risks, trends and uncertainties that could cause actual results to
differ materially from expected results. Among these risks,
trends and uncertainties are economic conditions both generally and
within the industries in which the company may participate;
competition within the Company's chosen industries, including
competition from much larger competitors; technological advances;
available capital; regulatory approval; and failure by the Company
to successfully develop or acquire products and form new business
relationships. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
CONTACT: Integrated Environmental Technologies, Ltd.
Thomas S. Gifford
Executive Vice President and Chief Financial Officer
Tel.: (732) 820-1415