LITTLE RIVER, S.C.,
Nov. 20, 2014 /PRNewswire/
-- Integrated Environmental Technologies, Ltd. (OTCBB: IEVM)
today announced that it has established a production facility in
Artesia, New Mexico and has
provided Excelyte™ well maintenance treatments on four oil wells
for a new customer in the northwestern area of the Permian
Basin. This customer has approximately 800 oil producing
wells that the Company has targeted for Excelyte well maintenance
treatments over the next twelve months. The Company believes
that there are approximately 25,000 oil producing wells in the
northwestern portion of the Permian Basin that could benefit from
Excelyte well maintenance treatments.
The Company also is now providing Excelyte well maintenance
treatments on twenty oil producing wells in the Uinta Basin in
Utah for one customer and has
commenced treatment on two oil producing wells for a second
customer. These two customers, on a combined basis, have
approximately 2,200 additional oil producing wells in the Uinta
Basin that the Company has targeted for Excelyte well maintenance
treatments over the next twelve months.
David R. LaVance, the Company's
President and Chief Executive Officer, commented, "I am very
pleased that we have commenced operations in the Permian Basin, an
area where hydrogen sulfide is a major issue, and that we continue
to expand our sales in the Uinta Basin. Establishing a
production facility in Artesia, New
Mexico will allow us to deliver Excelyte well maintenance
treatments to customers in the northwestern region of the Permian
Basin, a region that we believe offers tremendous opportunity for
Excelyte well maintenance treatments. Each oil well that we
treat should provide us with recurring revenue as we expect to
continue treatments of the well throughout the well's production
life."
The results to date for IET's well maintenance treatments have
shown that Excelyte reduces the level of hydrogen sulfide in oil
wells faster than competing products, which IET believes is due, in
part, to Excelyte's ability to rapidly kill sulfide-producing
bacteria. In addition, Excelyte's naturally occurring
properties make it easier to administer and more environmentally
friendly than competing products. If a customer follows the
suggested Excelyte treatment protocol, it can significantly reduce
or essentially eliminate hydrogen sulfide from its oil
wells.
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
sulfur-reducing bacteria, which are known to produce hydrogen
sulfide. The Company's down-hole well maintenance operations
consist of treating oil production wells that contain hydrogen
sulfide with regularly scheduled applications of Excelyte.
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
SOURCE Integrated Environmental Technologies, Ltd.