GRAPEVINE, Texas--(BUSINESS WIRE)--Jun. 25, 2012--
GreenHunter Energy, Inc. (NYSE MKT: GRH), a diversified renewable
energy company predominately focused on water resource management in the
unconventional oil and natural gas shale resource plays, announced today
that its wholly owned subsidiary, GreenHunter Water, LLC, has begun
providing today water management services to an independent Marcellus
Shale exploration and production company.
Pursuant to the terms of a new agreement, GreenHunter Water services has
been awarded an exclusive contract which includes the hauling and
disposal of fresh water, produced water, flowback water and drilling
mud. This NYSE MKT listed customer owns approximately 90,000 acres of
Marcellus Shale leasehold and is further expanding its operations in
Pennsylvania and West Virginia. GreenHunter Energy management is also in
discussions with this customer to further expand the contract to include
handling and remarketing of natural gas “drip” condensate. Management
estimates initial brine injection volumes which began today will be in
excess of 2,000 barrels per day.
Commenting on this new water services contract, John Jack, Vice
President of Business Development in the Appalachian Division stated,
“We are very encouraged by the increased pace of commercial interest
that we have been seeing for services from our existing Appalachia salt
water hauling assets and disposal properties. This new contract is the
result of a referral from an established existing water customer. We are
very pleased that our clients are continuing to report very positive
experiences with our services and are continuing to refer GreenHunter
Water as the premiere ‘one-stop shop’ for water handling services in
this region.”
About GreenHunter Energy, Inc.
GreenHunter Energy, Inc. is a diversified renewable energy company
predominately focused on water resource management in the unconventional
oil and natural gas shale resource plays. Through its wholly owned
subsidiary, GreenHunter Water, LLC, the Company 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-CycleTM),
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 (RAMCATTM)
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" 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 Energy undertakes no
obligation to update these forward-looking statements in the future.
Source: GreenHunter Energy, Inc.
GreenHunter Energy, Inc.
Jonathan D. Hoopes
President &
COO
1048 Texan Trail
Grapevine, TX 76051
Tel: (972)
410-1044
jhoopes@greenhunterenergy.com
