Exhibit 99.1

 

 

 

  

GREENHUNTER RESOURCES REPORTS

SECOND QUARTER 2014 FINANCIAL AND OPERATING RESULTS

 

 

GRAPEVINE, TEXAS, August 4, 2014—GreenHunter Resources, Inc. (NYSE MKT: GRH and 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 in the Appalachian Basin, announced today financial and operating results for the Company’s quarterly report Form 10-Q for the three months ended June 30, 2014.

 

Highlights from the Company’s financial and operating results include the following:

 

 

Total Revenues increased 18% to $6.9 million from continuing operations for the three months ended June 30, 2014 as compared to the similar period in 2013 of $5.8 million.

 

 

Total Disposal Volumes from continuing operations increased 80% in the three months ended June 30, 2014 to 975 thousand barrels (BBL) injected compared to 543 thousand BBL injected in the similar period in 2013 where it is continuing to strengthen its dominant position as an owner and operator of commercial salt water disposal (SWD) wells in the Marcellus and Utica Shale plays in the Appalachia region.

 

 

Total Operating Salt Water Disposal Permitted Injection Capacity as of June 30, 2014 exceeded 15,500 barrels per day (BBL/D) of operating permitted disposal capacity, along with operating a fleet of 36 trucks capable of transporting brine and condensate that continues to run near 100% capacity.

 

 

The Company has recently completed the necessary permit application processes to build the permanent barge trans-loading and bulk storage facilities for oilfield brine and condensate in the Appalachia region and is awaiting final Army Corps of Engineer Approval.

 

 

OPERATIONAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2014

 

 

Our net loss per share for both continuing operations and discontinued operations, basic and diluted, was ($.06) compared to ($.05) for the second quarters of 2014 and 2013, respectively. Our loss from continuing operations was $3.3 million for the second quarter 2014 compared to income of $1.2 million for second quarter 2013. Our net loss per share from continuing operations was ($.13) per share compared to $.00 per share, basic and diluted, for the second quarters of 2014 and 2013, respectively. Our income from discontinued operations was $2.4 million (earnings of $.07 per common share, basic and diluted) for the second quarter 2014, compared to loss from discontinued operations of $1.7 million (loss of ($.05) per share, basic and diluted) for the second quarter 2013. Operating revenues from continuing operations were $6.9 million during second quarter 2014 compared to $5.8 million for first quarter 2013, an increase of 18%.

 

 
 

The following information was filed by Greenhunter Resources, Inc. (GRHHQ) on Monday, August 4, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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