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 handling water disposal services at its newly completed salt water disposal (SWD) facility located near Helena, Karnes County, Texas.
This commercial SWD facility is comprised of newly constructed storage tanks and a fully contained offloading platform that features four (4) unloading tractor trailer bays, a 150 HP pumping system and 2,400 barrels (BBLs) of onsite storage. The newly drilled SWD well was completed to the Middle Wilcox formation at a total depth of approximately 7,800 feet.
Commenting on this new addition to the Company’s disposal well portfolio, Jonathan D. Hoopes, President and COO, stated, “This new well went online several weeks ago and we are scaling up capacity utilization according to plan. We expect demand for Class II injection capacity in this part of the Eagle Ford shale play to remain robust due to the increased drilling in the region directly related to the successful drilling efforts by operators in the 'oil window' of the Eagle Ford. With this new well now online and the facility operational, GreenHunter Water’s total owned disposal capacity has reached 35,000 barrels per day from a total of seven SWD wells located in five states.”
For a visual animation of the Class II Salt Water Disposal well development and completion technique that is being utilized in GreenHunter Water’s Eagle Ford program, navigate to the video by clicking on “Salt Water Disposal Animation” button on the Operations tab at GreenHunterEnergy.com or click here.About GreenHunter Water, LLC (a wholly owned subsidiary or GreenHunter Energy, Inc.) GreenHunter Water, LLC provides Total Water Management Solutions™ in the oilfield. An understanding that there is no single solution to E&P fluids management shapes GreenHunter’s technology-agnostic approach to services. In addition to licensing of and joint ventures with manufacturers of mobile water treatment systems ( Frac-Cycle™), GreenHunter Water is expanding capacity of salt water disposal facilities, next-generation modular above-ground storage tanks ( MAG Tank™), advanced hauling and fresh water logistics services—including 21st Century tracking technologies ( RAMCAT™) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations and reducing cost. Additional information about GreenHunter Water may be found at www.GreenHunterWater.com Forward-Looking Statements Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business and other statements containing the words "believes," "anticipates," "plans," "expects," "will," "could," "should," "budget," "continue," and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in the press release include, without limitation forecasts of growth, revenues and SWD well and rolling stock expansion. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to fund and implement its business plan, government regulation and competition. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as well as the Company's other reports filed with the United States Securities and Exchange Commission and are available at http://www.sec.gov/ as well as the Company's website at http://greenhunterenergy.com/ . You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future.
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