Considering the announcement made by the company on Thursday, it could be a good idea for investors to keep an eye on the Cyber Enviro-Tech Inc. (OTC:CETI) stock this morning. On May 2, the company came into focus after it announced that it was in the concluding stages of the process pertaining to the signing of a letter of intent with a salt water disposal (SWD) facility located in West Texas. If the agreement is completed, then the SWD would be responsible for providing Cyber Enviro-Tech with biotech solutions for cleaning and then eventually repurposing wastewater into the environment safely.
In the news release, the company announced that it expected to complete the signing of a definitive agreement with the SWD facility in the upcoming weeks. During the course of oil production, higher volumes of contaminated water are produced than actual oil. The water in question is contaminated with industrial materials and hydrocarbons, which makes it dangerous for the environment. Nowadays, the water is managed by removing it from circulation altogether and pumping it thousands of feet underground in saltwater wells. In 2020, the state of Texas disposed of as much as 4.4 billion barrels of contaminated wastewater from oil production by way of SWDs.
Cyber Enviro-Tech noted that initially the company’s focus in the repurposing initiative would be to produce decontaminated brine that could be reused safely for the purpose of oil production. The company noted that, as per the definitive agreement, the company would work on the processing of 45,000 barrels of brine each month, and the cost would come to $9 a barrel. It was also noted that both companies were looking forward to the start of the association and helping oil operators convert their wastewater into reusable assets. It may be a good time to track the Cyber Enviro-Tech stock.
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