LITTLE RIVER, S.C.,
Feb. 2, 2015 /PRNewswire/
-- Integrated Environmental Technologies, Ltd. (OTCBB: IEVM)
today announced that it is providing Excelyte well maintenance
treatments on approximately sixty oil wells in the Uinta Basin in
Utah and twenty oil wells in the
Permian Basin in New Mexico. The growth in Utah represents an increase of approximately
200% from the twenty oil wells that the Company was treating at the
end of November 2014. The results in New Mexico constitute an increase of
approximately 400% over the four oil wells that the Company was
treating when it commenced operations in this area at the end of
November 2014. Based on our current pricing and historical
volume requirements, the Company estimates that these 80 wells
could generate approximately $510,000
of revenue over the next twelve months. The Company currently
is also in discussions with four new customers in the Uinta Basin
and three new customers in the Permian Basin regarding the
commencement of Excelyte well maintenance
treatments.
David R. LaVance, the Company's
President and Chief Executive Officer, commented, "The growth in
the number of oil wells that we are treating in both the Uinta and
Permian Basins demonstrates the effectiveness and customer
satisfaction regarding our Excelyte well maintenance
treatments. All indications suggest continued use and growth
will occur in our first two basins and there should be wide
acceptance in the overall market as expansion to other basins
likely occurs".
Mr. LaVance further commented, "We believe that the recent
decrease in oil prices has had a positive effect on our business,
as oil producers reduce emphasis on drilling new wells and focus on
making existing wells more efficient and profitable. Excelyte
well maintenance treatments should lower oil production costs since
Excelyte reduces the level of hydrogen sulfide gas in oil wells.
We believe Excelyte acts faster than competing products due
to, in part, Excelyte's ability to rapidly kill sulfate-reducing
bacteria. Excelyte also kills bacteria that corrode well
equipment and well linings which should lower well repair costs for
an oil producer. Further, Excelyte is easier to administer
and more environmentally friendly than competing products due to
its naturally occurring properties".
Hydrogen sulfide is a toxic and corrosive chemical that
frequently appears in oil and gas production. Excelyte acts
as a hydrogen sulfide scavenger and as a biocide that kills
sulfate-reducing bacteria, which are known to produce hydrogen
sulfide. The Company's down-hole well maintenance operations
consist of treating oil production wells that test positive for
hydrogen sulfide with regularly scheduled applications of
Excelyte.
About Integrated Environmental Technologies, Ltd.
Integrated Environmental Technologies, Ltd. is a publicly-traded
companythat operates through its wholly-owned operating subsidiary,
I.E.T., Inc. All of the Company's products and services are
marketed and sold under the umbrella brand name,
EcoTreatments™. The Company markets and sells its anolyte
disinfecting solution under the Excelyte brand name, which is
produced by the Company's proprietary EcaFlo™ equipment that
utilizes an electrolytic process known as electrochemical
activation to reliably produce environmentally responsible
solutions for cleaning, sanitizing and disinfecting. 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 products
can be used anywhere there is a need to control pathogens,
bacteria, viruses, and germs. The Company's EcaFlo equipment
also produces a cleaning solution that the Company markets under
the Catholyte Zero™ brand name. Catholyte Zero solutions are
environmentally friendly cleansers and degreasers for janitorial,
sanitation and food processing uses. To learn more, visit
www.ecotreatments.com.
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.
Contacts:
Integrated Environmental Technologies, Ltd.
Thomas S. Gifford
732-820-1415
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
323-377-5653
chase@capitolmediapartners.com
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SOURCE Integrated Environmental Technologies, Ltd.