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GreenHunter Water Receives New Commercial (SWD) Permit

Source: www.gulfoilandgas.com 4/11/2012, Location: North America

GreenHunter Energy, Inc., 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 received approval from the Railroad Commission of Texas to inject non-hazardous oil and gas waste into an Underground Injection Control (UIC) permitted salt water disposal (SWD) well to be located near Helena in Karnes County, Texas. The disposal well is scheduled to be drilled during the second quarter of 2012 with commercial operations targeted for the third quarter of 2012.

The Class II Helena SWD well is permitted to accept up to 10,000 barrels per day (BBL/D) of oilfield production brine and frac flowback fluid and will inject into the Middle Wilcox disposal formation at an interval depth from 6,840 to 7,650 feet. The well will be located on a six acre parcel that is held under a 10 year extendable property lease. Management is budgeting capital expenditures of approximately $2 million over the near term to bring the facility into full operating condition.

Commenting on this event, Jonathan D. Hoopes, GreenHunter President and COO, stated, “We are excited to announce the receipt of our first SWD injection permit in South Texas. Karnes County is located in the wet gas and oil window of the Eagle Ford Shale play that has seen a 180% year-over-year increase in drilling permits issued during 2011. With 42 of the Eagle Ford’s existing 252 total rigs running in Karnes County alone, operators are scrambling for additional disposal capacity. GreenHunter has additional leases that are in various stages of permitting in the Eagle Ford Shale resource play. Management continues to assemble a significant pipeline of acquisition candidates for future development.”

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