GreenHunter Resources, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC) (the “Company”), 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 taken delivery of six new tractors and trailers to complement the Company’s growing Appalachian rolling stock fleet. The new equipment consists of three new Peterbilt 388 Bobtail trucks with 100 barrel (BBL) Vacuum Tanks and three new Peterbilt 388 Bobtail trucks with 100 barrel HAZMAT DOT 407/412 Certified Tanks. This new equipment will service oil and gas operators who are active in the Marcellus and Utica Shale plays located in the states of Pennsylvania, Ohio and West Virginia.
To facilitate the purchase, the Company expanded its existing commercial credit facility with an Appalachia-based regional bank. The loan amount was increased from the existing lending facility of $3.7 million to $4.8 million.
The three HAZMAT trucks are equipped to transport oil, condensate and a condensate-brine mixture and will allow GreenHunter Water to expand its ability to pick up liquids from well pads where water separation equipment is not in use. With this expanded fleet, we can now transport 100% of the material to a central receiving facility. The three standard Vacuum trucks and the HAZMAT DOT 407/412 Certified trucks were 100% utilized on the first day of operations this week.
Management CommentsMr. Rick Zickefoose, Vice President of Operations, Appalachian Basin, commented, “Our new transport equipment arrived just in time. Disposal volumes for the Appalachian Division over the past two weeks were at record levels and we expect even higher volumes going forward due to a combination of increased activity in this region and an expanded customer base. These new trucks went into use immediately and are a much welcomed addition to our growing transportation infrastructure fleet which has now grown to 38 trucks in the Appalachian Division and 62 trucks company wide. We plan to continue to grow our HAZMAT fleet in preparation for the transition of our Total Water Management Solutions™ into Oilfield Fluid Management Solutions™ which will then help support our Advanced Barge Logistics™ services under development.”