GreenHunter Resources, Inc., a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, 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. GreenHunter Water previously sold another SWD property in this region to Sable Environmental last June 2013.
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 (BBL). 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.
Commenting on the sale of these non-core assets, Kirk Trosclair, GreenHunter’s Executive Vice President and COO, stated, “GreenHunter is continuing its previously announced game plan to divest of all non-core assets and focusing 100% of our attention on the explosive growth and higher margins we are experiencing in the Marcellus and Utica shale plays of West Virginia and Ohio. We are by far the largest water handling company in this region and believe that our future growth in these two shale plays will continue based upon the capital expenditure plans outlined by our customers.”
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