Cavitation Technologies Provides an Update on Produced Water Treatment in Permian Basin padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
Cavitation Technologies To Resume Produced Water Treatment Operations
Chatsworth, CA (GLOBE NEWSWIRE) - via NewMediaWire - Cavitation Technologies, Inc. (OTCQB: CVAT) (BERLIN: WTC) announced that in Mid-January the Company reopened its operations in the Permian Basin treating produced water from fracking operations in the basin.
In collaboration with its water services partner, Cavitation Technologies (CTI) deployed its first cavitation reactor in the Permian Basin in early 2020. However, subsequent dramatic declines in oil prices coupled with the onset of the Covid19 pandemic, led to drastic reductions in Permian production and as a result, demand for the Company’s innovative frack-water mitigation technology. As a result of improving oil prices, production in the Permian Basin is returning, which has led to increased demand for CTI’s clean water technology.