GRAPEVINE, Texas--(BUSINESS WIRE)--Dec. 19, 2012--
GreenHunter Energy, 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 its wholly owned subsidiary,
GreenHunter Water, LLC, has ordered new rolling stock equipment assets
to 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. The new equipment will consist of three new Peterbilt 388
Bobtail (a.k.a., “straight”) trucks with 100 barrel (BBL) Vacuum Tanks
and three new Peterbilt 388 Bobtail trucks with 100 barrel HAZMAT
Certified Vacuum Tanks.
To facilitate the purchase, the Company has expanded an existing
commercial loan facility with an Appalachia-based regional bank. The
loan was increased from our existing lending facility of $2.1 million to
$3.3 million. The equipment is scheduled to be delivered to the
Appalachian region by the end of January 2013 and is anticipated to be
put into operation prior to the end of the first quarter of 2013. The
new HAZMAT equipment will enable GreenHunter Water to enter into the oil
transportation business as part of our Total Water Management
Solutions™. As oil and natural gas is produced, the hydrocarbons come to
the surface with water. Typically, hydrocarbons are separated from the
water at the well location through mechanical separators or via a
gravity separation process. GreenHunter Water now has the ability to
pick up liquids from well pads where water separation equipment is not
in use and transport the product to a fluids refinement center.
Commenting on the acquisition of these new assets, Mr. Jonathan D.
Hoopes, GreenHunter Energy’s President and COO, stated, “The addition of
six new bobtail trucks to our fleet is much needed. We are presently
running near full capacity utilization of our existing Appalachia fleet
and with new disposal facilities in the region expected to come on line
in the near future, we wanted to maintain a proper balance of transport
equipment relative to expected disposal volumes. We started 2012 with
only five trucks. With this acquisition, we will be running 31 transport
trucks in the Appalachia region. Prior to this acquisition, we have not
been able to pick up water mixed with hydrocarbons. These new trucks
being added to our existing fleet are certified and will allow us to
increase our services offering to existing customers and also obtain new
customers who we have not been able to accommodate in the past.”
About GreenHunter Water, LLC (a wholly owned subsidiary of
GreenHunter Energy, Inc.)
GreenHunter Water, LLC 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-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 logistics
services—including 21st Century tracking technologies (RAMCAT™)
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.
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," “could,” “should,” “budget,” “continue,” and similar expressions
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements in
the press release include, without limitation forecasts of growth,
revenues, adjusted EBITDA and SWD well and rolling stock expansion. 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 fund and implement its
business plan, government regulation and competition. Additional risks
and uncertainties are set forth in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2011, as well as the
Company's other reports filed with the United States Securities and
Exchange Commission and are available at http://www.sec.gov/
as well as the Company's website at http://greenhunterenergy.com/.
You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this presentation. All
forward-looking statements are qualified in their entirety by this
cautionary statement. GreenHunter Energy undertakes no obligation to
update these forward-looking statements in the future.
Source: GreenHunter Energy, Inc.
GreenHunter Energy, Inc.
Jonathan D. Hoopes
1048 Texan Trail
Grapevine, TX 76051