Initial Testing Shows Significant Increase in Production for Stripper Wells While Reducing Hydrogen Sulfide, Iron Sulfide Scales and Bacterial Deposits
Integrated Environmental Technologies, Ltd. announced that it has developed a new proprietary well treatment protocol that increases oil production and substantially reduces hydrogen sulfide (HsS), iron sulfide scales (FeS), bacteria and bacterial deposits present in oil wells. The protocol consists of a dual treatment regimen that utilizes the Company's proprietary Excelyte® and Catholyte Zero™ solutions. Initial tests were performed in the West Texas Region of the Permian Basin on five stripper wells, which are typically defined as oil wells producing ten barrels of oil per day or less. The results showed that this new proprietary dual treatment substantially reduced hydrogen sulfide and bacteria and their deposits present in the five wells and increased the production volumes of the wells by approximately 75% after one month of treatment. The Company believes that this new dual treatment provides operators of stripper wells with an important tool to substantially increase production and profitability of these wells. The additional revenue that a producer can generate from its wells following our dual treatment protocol is of particular importance in this current low oil price environment where operators are forced to consider shutting in their wells due to economic considerations. The Company believes that there are over 400,000 stripper wells in the United States that could benefit from the dual treatment with approximately 140,000 of these wells in Texas alone. In addition, the Company believes that its novel dual treatment regimen can be adapted to treat and clean oil and gas pipelines more safely than other chemical treatments. The Company is in the process of pursuing patent protection on its new dual treatment protocol.