GRAPEVINE, Texas--(BUSINESS WIRE)--GreenHunter Water, LLC, a wholly owned subsidiary of GreenHunter Energy, Inc. (NYSE Amex: GRH), announced today that it has secured a significant new order to provide equipment rental and services which include thirty (30) new frac storage tanks to an independent oil and gas operator active in the Eagle Ford Shale drilling region of South Texas. Delivery of the new frac tanks was completed approximately one week ago. The initial one year contract includes rental and management of multiple sized fluid tanks, including 500 BBL water storage tanks, manifolds and other services. This new customer is also exploring other business opportunities offered by GreenHunter’s Total Water Management Solutions™. These include water treatment and reuse of “clean brine”, RAMCAT™ remote access monitoring equipment, water hauling and commercial salt water disposal, and advanced logistics optimization.
Jonathan D. Hoopes, President and COO of GreenHunter Energy, Inc. stated, “We are excited to announce this new customer in the Eagle Ford Shale. Our revenue growth projections for the Eagle Ford region include fluid hauling and disposal which should benefit from our water equipment rental business. As operators are becoming increasingly aware of our water management service business lines, we anticipate a rapid expansion of our presence in this area.”
About GreenHunter Water
GreenHunter Water, LLC - a wholly owned subsidiary of GreenHunter Energy, Inc. (NYSE Amex: GRH) - provides Total Water Management Solutions(TM) 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, GreenHunter Water is expanding capacity of salt water disposal, temporary above-ground storage, hauling and fresh water logistics services – including 21st Century tracking technologies that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations.
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.
GreenHunter Energy is focused on water resource management in the oil and natural gas sector and the renewable energy sectors of wind, hydro, geothermal, solar, biofuels, and biomass power plants. Our assets consist of a residual interest in the future development of a wind energy project located in California and a biomass-fired power plant located near Imperial, California. Headquartered in Grapevine, Texas, GreenHunter Energy was formed to be the first publicly traded renewable energy company based in the U.S. that provides to investors a portfolio of diversified assets in the alternative energy and water management sectors. Additional information about GreenHunter Energy may be found at www.greenhunterenergy.com.