GreenHunter Hydrocarbons, LLC
GRAPEVINE, Texas--(BUSINESS WIRE)--Jun. 25, 2014--
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
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.
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.
Source: GreenHunter Resources, Inc.
For Hydrocarbon Information Contact:
President – Hydrocarbon Division
Further Information Contact:
GreenHunter Resources, Inc.
Assistant Vice President- Investor Relations
Grapevine, TX 76051
Tel: (310) 628-2062