GreenHunter Reports Third Quarter Results

By -
From GreenHunter:
GreenHunter Resources, Inc. (NYSE MKT:GRH) (NYSE MKT:GRH.PC), a diversified water resource, waste management, environmental services, and hydrocarbon marketing company specializing in the unconventional oil and natural gas shale resource plays within the Appalachian Basin, announced today financial and operating results for the three months and nine months ended September 30, 2015.  
Third Quarter Financial and Operational Highlights and Current Developments
  • The Company reported positive adjusted EBITDA of $482 thousand for the third quarter of 2015.
  • Injection volumes for the three and nine month period ended September 30, 2015 were 969 thousand and 2.6 million, respectively compared to 1.0 million and 2.9 million for the corresponding year ago period, respectively. 
  • In late July 2015 GreenHunter announced commencement of two new disposal wells at its Mills Hunter facility located in southeastern Ohio. The initial combined injection rate for these two new wells is approximately 6,000 - 8,000 barrels per day. The increased injection capacity effectively raises the Company’s overall disposal capacity by approximately 50%. There are two additional wells which are in final stages of regulatory approval at this location that are expected to be placed in service over the next ninety days.  
  • The Company previously ordered eight new Peterbilt trucks and specialized condensate rated DOT 407 trailers.  Three of these truck/trailer combinations were completed in the third quarter of 2015 and two were actively working at the end of the quarter.  Four additional trucks were in the process of having the trailers installed at quarter end and the remaining truck was still on order, which is expected to be delivered sometime in December 2015.  DOT 407 trailers are designed to transport mixed loads of condensate and brine which generate higher margins.   
  • GreenHunter Resources continues to attract new customers and work with a diverse client base of small, mid, and large cap exploration and production companies.   In the third quarter, no one customer represented more than 21 percent of GreenHunter’s total revenue. 
  • The Company has continued to decrease selling, general and administrative expenses, excluding non-cash stock compensation, from $2.1 million in the third quarter of 2014 to $1.5 million in the third quarter of 2015, a decrease of 29%.
Continue reading by clicking here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

By -
Image
From Energy in Depth: There is something very strange going on along Carter Road, in Dimock, Pennsylvania, and I’m not speaking of natural gas, methane migration, contamination, litigation or even the extensive water testing there by the EPA and others.  No, I’m talking about a new “Watergate” conspiracy, complete with 18 minutes of missing tape (well, video, actually). It seems the ever-present Green Party member and  naturist   Vera Scroggins  (a/k/a  Vera Duerga ) has posted a video of Craig Sautner meeting with the EPA.  Mysteriously, the video is but 14 seconds in length, cutting off conversation in what is obviously mid-stream.  It raises a question Craig Sautner, like  Ronald Reagan in Kings Row , might have asked, “Where’s the rest of me?’  Carter Road, isn’t Kings Row, of course, (at least not until you arrive at  the mansion Scott Ely, one of the Dimock litigants, is building with his royalty money ), but there appears to be...
Read more

The Second Largest Oil and Gas Merger - Cabot and Cimarex

By -
Image
       Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money.      That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector.      The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest.       The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividen...
Read more

Do You Know The History of Fracking?

By -
Image
  In 2018, 59% of total oil production in the U.S came from hydraulic fracking, which means it accounted for more than two-thirds of domestically manufactured gas. By 2024, fracking will reach an astounding $68 billion market value! Of course, fracking is not a new drilling method as you can trace it back hundreds of years. That's why we want to consider the history of hydraulic fracturing (fracking). We will be stating historical facts about it and focusing on the major historical occurrences that have influenced modern-day fracking. Pre-Fracking Days The idea of fracking started back in 1862 when Edward A.L. Roberts (Civil War veteran) witnessed Confederate soldiers exploding artillery rounds into a canal that obstructed a battlefield. At the time, Edward A.L. Roberts called it superincumbent fluid tamping. On April 26th, 1865, Edward A.L. Roberts began experimenting with exploding torpedoes, which consisted of lowering a torpedo containing an amount of powder from fifteen to tw...
Read more