From GreenHunter Energy:
|GreenHunter Energy Reports Fiscal Year 2012 Financial and Operating Results|
Annual Revenues up 1,444% to
Positive Adjusted EBITDA in Each Quarter Totaling
169% Increase in Per Share Book Equity At Year-end
818,644 Barrels of Water Injected During Year
OPERATIONAL RESULTS FOR THE TWELVE MONTHS ENDED
New business activities in our water management segment comprised the entirety of our
SOLID PROGRESS IN TOTAL WATER MANAGEMENT SOLUTIONS™
During 2012, GreenHunter Energy’s wholly-owned subsidiary, GreenHunter Water, experienced substantial growth by continuing to build its Total Water Management Solutions™ portfolio of shale water products and services in the unconventional resource plays. The Company further strengthened its dominant position as an owner and operator of commercial salt water disposal (SWD) wells in the Marcellus and
Demand for commercial SWD capacity in Oklahoma’s
During the fourth quarter of 2012, GreenHunter Water drilled and completed one commercial SWD well in the
IMPROVED CAPITAL STRUCTURE
During 2012, management significantly improved the Company’s Balance Sheet. Previously outstanding Series A and Series B Convertible Preferred Stock and the Series B Debentures were either converted and/or exchanged into common stock and Series C Perpetual Preferred Stock. During 2012, 1,561,144 shares of the Series C Perpetual Preferred Stock was issued as consideration for specific acquisitions and as part of both an initial public offering and a subsequent follow-on offering. As of
NEW PROPRIETARY MODULAR ABOVE GROUND TANK SYSTEM
GreenHunter spent a significant amount of time engineering and fabricating a next generation modular above ground MAG Tank™ during fiscal year 2012. The design was built to accommodate heavy fluids in addition to fresh water and was designed using standardized modular steel MAG Panels™ that are configurable in multiple form factors and in virtually unlimited capacities above 11,000 barrels. GreenHunter’s proprietary MAG Tank meets or exceeds industry standards for above ground oilfield fluid storage. In the fourth quarter of 2012, GreenHunter built multiple MAG Panels and deployed a MAG Tank in
Commenting on GreenHunter Energy’s results released today, Mr.
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 GreenHunterEnergy.com or click here.
Additional information about GreenHunter Water may be found at www.GreenHunterWater.com
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.