GreenHunter Resources, Inc. (NYSE MKT:GRH) (NYSE MKT:GRH.PRC) (the “Company”), a diversified water resource, fluids management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, provided today an update on the Company’s operations including volumes of water handled and disposed during the third quarter of 2013.
Total company-wide volumes of fluids handled increased over 130% as compared to the same period last year. The volume of fluids handled increased to 1,205,000 barrels (BBL) representing a 0.4% increase compared to the three months ending June 30, 2013, even though we were operating two fewer salt water disposal (SWD) wells. One well located in the Eagle Ford was sold and one SWD well located in Oklahoma was shut-in due to a fire caused by a lightning strike.
During the third quarter of 2013, disposal volumes in the Company’s Appalachia region, GreenHunter’s highest margin division, were over 500,000 BBL representing an increase of more than 10% compared to the same period last year and an increase of 18% compared to the three months ending June 30, 2013. Volumes of water handled at the Company’s New Matamoras barge transloading and bulk storage facility increased 29% compared to the prior three month period ending June 30, 2013. Appalachia truck hours increased 40% during the third quarter of 2013 compared to the second quarter of 2013. Transportation billings hours in Appalachia increased 45% during the third quarter of 2013 compared to the second quarter of 2013.South Texas Volumes of water disposed in South Texas decreased 21% during the third quarter compared to the three months ending June 30, 2013. As reported on June 11, 2013, the Helena SWD, Karnes County property was sold for a capital gain. Meanwhile, disposal volumes at the company’s Dilley SWD, Frio County facility, which is operating near capacity, increased 3% during the third quarter compared to the second quarter. Demand for the Company’s SWD services in Frio County is robust driving plans to increase pump capacity, onsite storage tank capabilities, and the number of Company-owned and operated trucks.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts