GreenHunter Resources Announces Intent To Form Master Limited Partnership
22 July 2014 - 09:00PM
Business Wire
GreenHunter Resources, Inc. (NYSE MKT: GRH) (NYSE MKT:
GRH.PRC), a diversified water resource, waste management,
environmental services, and hydrocarbon marketing company
specializing in the unconventional oil and natural gas shale
resource plays, announced today that it has filed with the Internal
Revenue Service a request for a ruling that income derived by a
newly formed Limited Partnership (“MLP”) for the handling of fluid
storage, treatment and disposal services, frac tank rental, water
monitoring services, and environmental remediation services that
constitute a part of the exploration, developmental, mining,
processing, refining, and transportation of natural resources will
in fact constitute “Qualified Income” under certain sections of the
Internal Revenue Code of 1986, as amended.
Due to substantial growth experienced over the last couple of
years that has caused GreenHunter Resources to quickly become the
leader in Total Water Management Solutions™ in the Appalachian
region, as well as the anticipated future growth from the various
projects planned by the Company over the next three years,
management and the board have determined that utilizing a MLP
structure will be the most cost efficient way to fund our future
capital needs.
About GreenHunter Resources, Inc.
GreenHunter Resources, Inc., through its wholly-owned
subsidiaries, GreenHunter Water, LLC, GreenHunter Environmental
Solutions, LLC, and GreenHunter Hydrocarbons, LLC, provides Total
Water Management Solutions™/Oilfield Fluid Management Solutions™ in
the oilfield and its shale plays of the Appalachian Basin.
GreenHunter Water continues to expand its services package by
increasing down-hole injection capacity with Class II salt water
disposal wells and facilities, with the launch of next-generation
modular above-ground frac water storage tanks (MAG Tank™), and with
advanced water hauling – including a growing fleet of DOT rated 407
trucks, for hauling condensates and water with the presence of
condensates. GreenHunter Water has also spearheaded the movement to
barge brine water, as barging is the safest and most cost-effective
mode of transport.
GreenHunter Environmental Solutions, LLC offers onsite
environmental solutions at the well pad and facilities, with a
service package that includes tank and rig cleaning, liquid and
solid waste removal/remediation, solidification, and spill
response. An understanding that an interconnected suite of services
is key to E&P waste stream management shapes GreenHunter
Resources’ comprehensive end-to-end approach to services.
GreenHunter Hydrocarbons, LLC offers transportation of
hydrocarbons (oil, condensate, and NGLs) and will soon offer
storage, processing, and marketing of hydrocarbons (oil,
condensate, and NGLs) in the Appalachian region, leveraging off of
our existing asset base and infrastructure, which includes up to
six different barge terminal locations, presently owned or leased
by GreenHunter Resources.
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 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
Forward-Looking Statements
Any statements in this press release about future expectations
and prospects for GreenHunter Resources and its business and other
statements containing the words "believes," "anticipates," "plans,"
"expects," "will" and similar expressions constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including the substantial
capital expenditures required to fund its operations, the ability
of the Company to implement its business plan, government
regulation and competition. GreenHunter Resources undertakes no
obligation to update these forward-looking statements in the
future.
GreenHunter Resources, Inc.Melissa PagenAssistant Vice
President- Investor Relations1048 Texan TrailGrapevine, TX
76051Tel: (972) 410-1044Mobile: (310)
628-2062mpagen@greenhunterwater.com