GRAPEVINE, Texas--(BUSINESS WIRE)--
GreenHunter Resources, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC) (the “Company”), 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 taken delivery of six new tractors and trailers to complement the Company’s growing Appalachian rolling stock fleet. The new equipment consists of three new Peterbilt 388 Bobtail trucks with 100 barrel (BBL) Vacuum Tanks and three new Peterbilt 388 Bobtail trucks with 100 barrel HAZMAT DOT 407/412 Certified Tanks. This new equipment will 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.
To facilitate the purchase, the Company expanded its existing commercial credit facility with an Appalachia-based regional bank. The loan amount was increased from the existing lending facility of $3.7 million to $4.8 million.
The three HAZMAT trucks are equipped to transport oil, condensate and a condensate-brine mixture and will allow GreenHunter Water to expand its ability to pick up liquids from well pads where water separation equipment is not in use. With this expanded fleet, we can now transport 100% of the material to a central receiving facility. The three standard Vacuum trucks and the HAZMAT DOT 407/412 Certified trucks were 100% utilized on the first day of operations this week.
Mr. Rick Zickefoose, Vice President of Operations, Appalachian Basin, commented, “Our new transport equipment arrived just in time. Disposal volumes for the Appalachian Division over the past two weeks were at record levels and we expect even higher volumes going forward due to a combination of increased activity in this region and an expanded customer base. These new trucks went into use immediately and are a much welcomed addition to our growing transportation infrastructure fleet which has now grown to 38 trucks in the Appalachian Division and 62 trucks company wide. We plan to continue to grow our HAZMAT fleet in preparation for the transition of our Total Water Management Solutions™ into Oilfield Fluid Management Solutions™ which will then help support our Advanced Barge Logistics™ services under development.”
About GreenHunter Water, LLC (a wholly owned subsidiary of GreenHunter Resources, 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 (RAMCATTM) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations and reducing cost.
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, Eagle Ford, Mississippian Lime and Bakken SWD program, navigate to the video by clicking on “Salt Water Disposal Animation” button on the Operations tab at GreenHunterResources.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.
- Oil, Gas, & Consumable Fuels
- Utility Industry
- wholly owned subsidiary
Jonathan D. Hoopes
Interim CEO, President and COO
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044