Service & Supply | Oilfield Services | Deals - Acquisition, Mergers, Divestitures
GreenHunter Water Closes on Acquisition of Salt Water Disposal Wells in Oklahoma
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GreenHunter Energy Inc. has reported that its wholly owned subsidiary, GreenHunter Water, LLC, has acquired three Class II salt water disposal (SWD) wells located in Kingfisher County, Canadian County, and Washita County, Oklahoma.
These existing disposal wells are ideally positioned in the Cana-Woodford (a.k.a. Anadarko Woodford) Shale and Mississippian Lime plays and will bring an additional 10,000 to 15,000 Barrels per day (BBL/D) of commercial SWD capacity to the Company’s water services portfolio. Consideration for the purchase consists of a combination of cash, newly issued GRH common stock and Series C perpetual cumulative preferred shares. Management is budgeting capital expenditures of approximately $500,000 to upgrade the facilities into state-of-the-art operating condition.
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