GreenHunter Energy, Inc., a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, announced that its wholly owned subsidiary, GreenHunter Water, LLC, has ordered new rolling stock equipment assets to service oil and gas operators who are active in the Marcellus and Utica Shale plays located in the states of Pennsylvania, Ohio and West Virginia. The new equipment will consist of three new Peterbilt 388 Bobtail (a.k.a., “straight”) trucks with 100 barrel (BBL) Vacuum Tanks and three new Peterbilt 388 Bobtail trucks with 100 barrel HAZMAT Certified Vacuum Tanks.
To facilitate the purchase, the Company has expanded an existing commercial loan facility with an Appalachia-based regional bank. The loan was increased from our existing lending facility of $2.1 million to $3.3 million. The equipment is scheduled to be delivered to the Appalachian region by the end of January 2013 and is anticipated to be put into operation prior to the end of the first quarter of 2013. The new HAZMAT equipment will enable GreenHunter Water to enter into the oil transportation business as part of our Total Water Management Solutions™. As oil and natural gas is produced, the hydrocarbons come to the surface with water. Typically, hydrocarbons are separated from the water at the well location through mechanical separators or via a gravity separation process. GreenHunter Water now has the ability to pick up liquids from well pads where water separation equipment is not in use and transport the product to a fluids refinement center.