LITTLE RIVER, S.C.,
May 11, 2015 /PRNewswire/
-- Integrated Environmental Technologies, Ltd. (OTCBB: IEVM)
today announced that it is currently providing Excelyte® well
maintenance treatments on 174 oil wells to four customers in the
Uinta Basin in Utah and in the
Permian Basin in New Mexico. The Company has commenced
Excelyte well maintenance treatments on 33 new oil wells, a 23%
increase since it last provided an update on its oil and gas
operations on April 16, 2015, and 68
new wells (a 64% increase) since the Company provided an update on
its oil and gas operations on March
5, 2015. The Company estimates that there are
approximately 5,000 oil producing wells in the Uinta Basin and
approximately 25,000 oil producing wells in the New Mexico region of the Permian Basin that
could benefit from Excelyte maintenance treatments.
David R. LaVance, the Company's
President and Chief Executive Officer, commented, "We continue to
progress in the development of our oil and gas business and are
currently in discussions with approximately five new customers
interested in utilizing Excelyte to treat both oil and gas
wells. As expected, our growing industry footprint has
enhanced our ability to cultivate and accelerate additional
customers as we can provide hard data on the effects and the
potential cost savings of Excelyte well maintenance
treatments. We continue to explore additional locations for
new production depots."
The Company also announced that it will provide operational
updates, such as the number of wells that are being treated with
Excelyte, on a quarterly basis beginning with the results of the
second quarter of 2015.
The Company believes that Excelyte reduces the level of hydrogen
sulfide gas in oil wells faster than competing products and results
from well maintenance treatments have been encouraging:
- Excelyte treatments rapidly kill 99.9% of sulfate-reducing
bacteria present.
- Excelyte kills bacteria that corrode well equipment and well
linings, which the Company believes should lower well repair costs
for oil producers.
- Excelyte is an effective biocide with an added benefit - it
reduces the level of hydrogen sulfide gas present in oil
wells.
- Excelyte is easier to administer and more environmentally
responsible 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 biocide and as a hydrogen sulfide eliminator/scavenger that
kills sulfate-reducing bacteria, which are known to produce
hydrogen sulfide. The Company's current down-hole well
maintenance treatments consist of regularly scheduled Excelyte
treatments on oil production wells that: contain bacteria
which can corrode well equipment and well linings; contain bacteria
that can sour the oil produced; and/or test positive for hydrogen
sulfide.
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. 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.