GRAPEVINE, Texas--()--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
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.