CYBER ENVIRO-TECH, INC SIGNS AGREEMENT WITH A SALT WATER DISPOSAL FACILITY TO CLEAN CONTAMINATED OIL PRODUCTION WASTEWATER

Rhea-AI Summary

Cyber Enviro-Tech (CETI) has signed an agreement with Warrior Operating Group (WOG) to clean contaminated oil production wastewater in Texas. The companies aim to repurpose the wastewater into decontaminated drilling fluid brine, generating 45,000 barrels per month. This effort addresses Texas' urgent need to manage water resources amid ongoing drought conditions. The targeted market price for the brine is $9 to $12 per barrel. CETI's biotechnology offers potential applications beyond the oil industry, including agriculture and drinking water. The partnership marks a significant milestone for CETI's bioremediation efforts, combining innovative and environmentally sound practices.

Positive

• Signed agreement with Warrior Operating Group (WOG) to clean oil production wastewater.
• Target to produce 45,000 barrels of decontaminated drilling fluid brine monthly.
• Market price for the brine is estimated between $9 and $12 per barrel.
• Addresses urgent water management needs in Texas due to drought conditions.
• Biotechnology has potential applications for agriculture, drinking water, and other commercial uses.
• Collaboration showcases CETI's unique total waste solutions.
• Efficient and economical bioremediation practices.

Negative

• No immediate revenue or profit figures from the new system were disclosed.
• Potential operational risks in building and deploying the new water treatment system within a few months.
• Initial focus is to producing decontaminated brine for oil production, which may limit immediate diversified revenue streams.

SCOTTSDALE, Ariz., May 15, 2024 /PRNewswire/ -- (OTCQB: CETI) -- Two weeks ago, Cyber Enviro-Tech, Inc announced it was signing a Letter of Intent with a West Texas salt water disposal (SWD) facility. Today CETI is pleased to announce it has completed due diligence and signed a contract with Warrior Operating Group, LLC (WOG). WOG is led by CEO Jeremy Roberts who is a second generation SWD operator and designer. CETI is excited to leverage its biotechnology to safely clean and repurpose wastewater with Jeremy's experience with SWDs and the oil industry.

During oil production, far more contaminated water is produced than oil. This water is heavily polluted with hydrocarbons and industrial compounds making it hazardous to the environment. Currently, this water is taken out of circulation by being transported to salt water disposal wells and pumped thousands of feet underground.  In 2020 alone, the state of Texas disposed of approximately 4.4 billion barrels of contaminated oil production wastewater through SWDs. The ongoing drought conditions in Texas have exacerbated this situation and highlighted the urgent need to better utilize limited water resources.  

CETI's initial focus in the repurposing of this water will be to produce decontaminated drilling fluid brine (salt water) which can be safely reused in oil production.  Drilling Fluid Brine is used to help control the pressure in the wellbore, to prevent the collapse of the borehole walls and to cool the drill bit. In addition, brines are used as a completion fluid which involves circulating the brine through the wellbore to remove any remaining drilling mud or debris and to condition the well for production.

CETI will build a new water treatment system for the Warrior Operating Group within the next few months. Once in full production, the target is to do 45,000 barrels of brine water monthly with a market price of around $9/bbl to $12/bbl.   

Both companies are looking forward to repurposing and transforming this waste into reusable assets for oil operators and companies. Furthermore, this biotechnology process has the potential, through enhanced filtration, to provide clean water for drinking, agriculture, and various other commercial and residential applications, benefiting communities at large.

"The potential of working with Jeremy and the Warrior Operating Group SWD marks a new chapter in our bioremediation enterprise as it allows us to showcase our unique total waste solutions. By combining multidisciplinary innovations, we not only demonstrate environmentally sound practices but also the most efficient and economical ones" said Kim D. Southworth, co-founder and CEO of Cyber Enviro-Tech, Inc. "Jeremy and CETI have similar values and objectives and we plan to expand on the potential success of this project."

ABOUT CYBER ENVIRO-TECH, INC. CETI is an international, environmentally driven, oil/sludge, water and soil remediation Company. Using bio remedial material and other proprietary equipment and processes, we are able to extract and eliminate many hazardous waste materials found in today's oil, industrial wastewater and soil. CETI has designed safe, cost-effective remediation systems including 4th Industrial Revolution technologies. This would include machine learning, artificial intelligence, the cloud, SCADA, etc., along with the application of our non-chemical, bio remedial material. Our core business model is focused on cleaning oil/sludge ponds, storage tanks, oil spills, mining and other soil remediation projects and all bodies of contaminated industrial wastewater.

ABOUT WARRIOR OPERATING GROUP, LLC, is led by its CEO and founder Jeremy Roberts. Jeremy brings a rich history in the industry, having served 14 years as a chemical application manager in the oilfield sector. Some of his notable clients included EOG and Murphy Oil. Jeremy founded Warrior Chemical in 2018 to provide better service and chemical expertise in the Eagle Ford basin. By 2020, he was operating saltwater disposal wells (SWDs) and initiated acquisitions of them in February 2023. As a second-generation SWD operator and designer, Jeremy's family's 40-plus years of experience in SWD operations and water management are enhanced by his expertise in treating fluids chemically and mechanically. His industry knowledge and contacts make him an excellent choice for a partner, highlighting Cyber Enviro Tech's growing capacity in providing flexible water treatment systems.

FORWARD-LOOKING STATEMENTS
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current and future operations, the development, regulatory approvals and commercialization of the Company's products, or any of the Company's proposed services, systems, services, licensing arrangements, joint ventures, partnerships or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, delays in the Company's development of its products and services, the inability to obtain additional financing, the impact of significant new or changing government regulation on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's general failure to effectively implement the Company's business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.

CONTACT:
Winston McKellar,
Dir of IR/PR
Cyber Enviro-Tech, Inc.
6991 E. Camelback Rd., Suite D-300
Scottsdale, AZ 85251
866.687.6856
Email:  info@cyberenviro.tech 
www.cyberenviro.tech

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SOURCE Cyber Enviro-Tech

FAQ

What is the aim of the agreement between Cyber Enviro-Tech and Warrior Operating Group?

The aim is to clean and repurpose contaminated oil production wastewater into decontaminated drilling fluid brine.

When was the agreement between Cyber Enviro-Tech and Warrior Operating Group signed?

The agreement was signed on May 15, 2024, following a Letter of Intent announced two weeks earlier.

How much decontaminated drilling fluid brine does Cyber Enviro-Tech aim to produce monthly?

Cyber Enviro-Tech aims to produce 45,000 barrels of decontaminated drilling fluid brine monthly.

What is the market price range for the decontaminated drilling fluid brine produced by Cyber Enviro-Tech?

The market price for the brine is estimated between $9 and $12 per barrel.

What potential applications does Cyber Enviro-Tech's biotechnology have beyond oil production?

Beyond oil production, CETI's biotechnology has potential applications in agriculture, drinking water, and other commercial and residential uses.

What are the environmental benefits of the Cyber Enviro-Tech and Warrior Operating Group partnership?

The partnership aims to address water management needs in Texas, reduce environmental hazards from contaminated wastewater, and repurpose waste into reusable assets.

What challenges might Cyber Enviro-Tech face in building the new water treatment system?

Challenges may include operational risks associated with building and deploying the new water treatment system within a few months.