GreenHunter Resources, 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 it has established a new hydrocarbons division, GreenHunter Hydrocarbons, LLC, a wholly-owned subsidiary of GreenHunter Resources. This new business line will further complement the company’s Total Fluids Management Solutions services currently provided to producers in the Marcellus and Utica Shale plays. GreenHunter Hydrocarbons’ business lines will focus on the transportation, storage, processing, and marketing of hydrocarbons (oil, condensate, and NGLs) in the Appalachian region. Leveraging off of our existing asset base and infrastructure, which includes up to six different barge terminal locations, presently owned or leased by GreenHunter Resources, GreenHunter Hydrocarbons is uniquely positioned to immediately garner a significant portion of this business opportunity. GreenHunter Hydrocarbons also announces today the hiring of Mr. Terry Clark as Vice President of GreenHunter Hydrocarbons and manager of this division. Mr. Clark has 17 years of experience managing hydrocarbons in the Appalachian Basin and has established industry-wide relationships with producers and refiners that will be extremely valuable to this new business segment. Offering some insights that shape his strategy on becoming a participant in the hydrocarbons/condensate market, Mr. Clark states that, “Higher quality Bakken and Eagleford condensates which now saturate the gulf coast market are lowering demand for Marcellus and Utica condensates. Unprocessed condensate pricing will continue to be volatile as shale production increases and Marcellus/Utica condensates’ Reid Vapor Pressure (RVP) exceed market requirements and limits. With the stabilization and processing of condensates, added value we can create for our customers’ accounts will be crucial in keeping the condensates generated from this region as a viable revenue stream for producers. Additionally, moving condensate via pipeline in this region will ultimately reduce transportation liability and risk, while at the same time, eliminating and/or reducing higher cost trucking.”
Commenting on this new division, Kirk Trosclair, EVP and Chief Operating Officer, stated, “Our goal of becoming a ‘one-stop-shop’ for producers in this region is becoming a reality with respect to this announcement today. Handling all forms of hydrocarbons in the evolving Marcellus and Utica Shale Plays has become more difficult due to the substantial growth in production for this region. GreenHunter Resources is already the largest disposal and trucking contractor entity in the tri-state area handling more fluids than any competitor, by dispatching over 1000 trucks per week, of which over 50% are third party. Now with the ability to also handle hydrocarbons, we can truly meet 100% of the fluid needs of our customers by being a Total Fluids Management Solutions™ company.”About GreenHunter Resources, Inc. GreenHunter Resources, Inc., through its wholly owned subsidiaries, GreenHunter Water, LLC and GreenHunter Environmental Solutions, LLC, provides Total Water Management Solutions™/Oilfield Fluid Management Solutions™ in the oilfield and its shale plays of the Appalachian Basin. GreenHunter Water continues to expand its services package by increasing down-hole injection capacity with Class II salt water disposal wells and facilities, with the launch of next-generation modular above-ground frac water storage tanks (MAG Tank™), and with advanced water hauling – including a growing fleet of DOT rated 407 trucks, for hauling condensates and water with the presence of condensates. GreenHunter Water has also spearheaded the movement to barge brine water, as barging is the safest and most cost-effective mode of transport. GreenHunter Environmental Solutions, LLC offers onsite environmental solutions at the well pad and facilities, with a service package that includes tank and rig cleaning, liquid and solid waste removal/remediation, solidification, and spill response. An understanding that an interconnected suite of services is key to E&P waste stream management shapes GreenHunter Resources’ comprehensive end-to-end approach to services. 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 SWD program, navigate to the video by clicking on “Salt Water Disposal Animation” button on the Operations tab at GreenHunterEnergy.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.