This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Salt Water Disposal Facility Initiates Operations In Appalachia Region

Stocks in this article: GRH

GreenHunter Energy, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC), a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, announced today that its wholly owned subsidiary, GreenHunter Water, LLC, has recently begun providing water disposal services at its newly completed Ritchie County, West Virginia salt water disposal (SWD) facility.

This commercial SWD facility is comprised of newly constructed storage tanks and a fully contained offloading platform that features six unloading tractor trailer bays, a new pump house and a redundant (back-up) high-speed pump system. An abandoned natural gas well that was originally drilled in September 2008 to a total depth of 6,103 feet has been recompleted by GreenHunter Water as a SWD pursuant to the terms of an Underground Injection Control (UIC) permit that was issued by the West Virginia Department of Environmental Protection Office of Oil and Gas and Division of Water and Waste Management. The geological target disposal formation is the “Geneseo” with a top injection interval of 6,044 feet.

The results of the step-rate test that was completed earlier this year at the Ritchie County SWD were excellent, and management expects commercial disposal capacity at this Class II SWD to be in the range of 3,000 barrels of salt water and other non-hazardous oil and gas waste per day.

Commenting on this new addition to the portfolio, Jonathan D. Hoopes, President and COO, stated, “This new well has been online for less than two weeks and we are already operating near full capacity. Strong demand for Class II injection capacity in the Utica and Marcellus shale plays has management keeping busy on the acquisition front where we expect to make more announcements in this region soon. With the Ritchie County SWD online, we are very close to achieving our 2012 year-end target guidance of 12,500 BBL per day of SWD capacity. Moreover, increasing demand for GreenHunter Water’s advanced logistics services has led us to recently acquire eight new salt water transport trucks – four of which will be operated by our Hunter Hauling subsidiary in the Appalachia region and the other four will operate in our recently established Eagle Ford region of South Texas. This brings our current total water hauling fleet now to 30 units.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs