GRAPEVINE, Texas--(BUSINESS WIRE)--Jul. 17, 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 water management services at its New Matamoras, Washington
County, Ohio River barge transloading and bulk water storage facility.
As previously announced, GreenHunter Water entered into a multi-year
lease agreement on an existing 10 acre facility that was originally
constructed by Mobil Oil in the 1960s. GreenHunter Water has completely
refurbished the Matamoras facility over the last three months and it is
now operational. The updated facility is providing bulk water storage
and transloading services as part of GreenHunter Water’s Total Water
Management SolutionsTM for its customers who are producing
natural gas, natural gas liquids, and crude oil in the Marcellus and
Utica Shale resource plays. The facility is also serving as a
maintenance and service station for GreenHunter Water’s existing rolling
stock operating in this area and will soon become the logistics
headquarters for the Company’s Appalachia regional operations.
Commenting on this development, Jonathan D. Hoopes, President and COO
stated, “We are pleased to report that operations at our Ohio River bulk
water storage facility began last week. We began accepting both
production water and frac flowback water and we expect to receive up to
4,000 barrels per day from a single new customer for the next ten weeks
as we begin to ramp up operations. By leveraging proprietary
innovations, advanced infrastructure design and the experience we have
gained from operating our existing salt water disposal operations, we
have the ability to offload up to nine trucks simultaneously while
emptying entire loads from trucks in less than 10 minutes time. The
addition of 70,000 barrels (2,940,000 gallons) of bulk storage increases
our storage capacity in the region by a significant magnitude. With
these assets in operation, we expect to realize an improvement in the
economic utilization and overall profitability of our existing Class II
salt water disposal wells in the area as we continue working on bringing
the barge operations on line in the near future. One of our primary
goals at GreenHunter Water is to never have to turn down a customer’s
load of water for disposal. We strive to maintain sufficient capacity
both at our disposal facilities and now at the new Matamoras facility to
ensure complete customer satisfaction.”
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
