GreenHunter Water Sells First "MAG Tank" to Utica Driller

GreenHunter Water is crowing about the sale of its first MAG Tank, a new above-ground storage tank that uses a unique design and is modular, letting drillers add to or subtract from the tank as needed at the drill pad site. The new tank was sold to an unidentified “large independent oil and gas producer” that will use the new tank at a multi-well Utica Shale drill pad site in southeast Ohio. MDN’s guess is that it was sold to either Chesapeake Energy or Gulfport Energy. Increasingly, open pits (so-called “frack ponds”) used to store fracking fluids and brine are being regulated out of existence, which means tanks will be required to replace them. Enter the MAG Tank.

Today’s announcement from GreenHunter:

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