GreenHunter 3Q14: More Red Ink; Wastewater Volumes Go Up

GreenHunter Resources, the midstream (pipelines & disposal wells) division of Magnum Hunter Resources, issued their third quarter update yesterday. The company continues to bleed money: They’ve lost $6.1 million year-to-date during the first 9 months of this year (vs losing $1.8 million during the same period last year). However, amidst the bad news there was some good news: four new Class II saltwater injection wells in Meigs County, OH are almost ready to go online, and total wastewater disposal volumes are up 41% over this time last year. Now if they can only stop the bleeding on the profit side of the ledger…

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