GreenHunter Water sells South Texas assets

GreenHunter Resources Inc.

GreenHunter Resources Inc. (NYSE MKT:GRH) (NYSE MKT:GRH.PRC), a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, reports that its wholly owned subsidiary, GreenHunter Water LLC, has closed on the sale of its Kenedy Hunter salt water disposal (SWD) facilities and a SWD permit and surface acreage located at another South Texas property to Sable Environmental LLC.

The sale of the Kenedy Hunter SWD and the undeveloped permit were sold for total net consideration of $3,875,000. The Kenedy well has a daily permitted disposal capacity of 25,000 barrels. This SWD well was originally drilled in the third quarter of 2012 and has had minimal disposal volumes since the facility went into commercial operations. The additional location in South Texas was permitted but never drilled or completed.

GreenHunter Water previously sold another SWD property in this region to Sable Environmental last June 2013.

 

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