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, began today commercial operations at a new salt water disposal (SWD) facility located in Newport, Washington County, Ohio. This riverside SWD has the potential to inject a minimum of 1,200 barrels per day (BBL/D) of oilfield brine. New field personnel have been hired to run the SWD facility.
The Newport SWD is strategically located in proximity to GreenHunter’s existing Appalachian operations handling water logistics for both the Marcellus and Utica Shale Plays. With this new SWD facility, the Company’s SWD capacity in the region has grown to over 13,000 BBL/D. Management is exploring options to develop pipeline infrastructure to access this specific facility, thereby eliminating truck transportation traffic and costs for our customers.
Commenting on the start of commercial operations at the Newport salt water disposal facility, John Jack, GreenHunter Vice President in the Appalachian region, stated, “We are excited to see the Newport SWD finally in commercial operation. We have been working on this project for over a year. Our oilfield customers have increased their demand for disposal capacity recently and we have been working hard to bring on additional water handling capabilities to alleviate the increased supply constraints being experienced in this region. We have a very exciting pipeline of developments that should keep our Oilfield Fluid Management Solutions™ infrastructure growing and help our customers in reducing their overall cost of water handling as they continue developing this tremendous domestic oil and gas unconventional resource.”About GreenHunter Water, LLC (a wholly owned subsidiary of GreenHunter Resources, Inc.) GreenHunter Water, LLC provides Oilfield Fluid Management Solutions™. 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 barge logistics services—including 21st Century tracking technologies ( RAMCATTM) that allow hydrocarbon producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations and reducing cost. For a visual animation of the Class II Salt Water Disposal well development and completion technique that is being utilized in GreenHunter Water’s Appalachia, Eagle Ford, Mississippian Lime and Bakken SWD program, navigate to the video by clicking on “Salt Water Disposal Animation” button on the Operations tab at GreenHunterResources.com or click here. 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 Resources and its business and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 implement its business plan, government regulation and competition. GreenHunter Resources undertakes no obligation to update these forward-looking statements in the future.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV