GreenHunter Res. 3Q15: Net Loss Decreases, Brief MHR Mention

Yesterday GreenHunter Resources, the wastewater subsidiary of Magnum Hunter Resources (MHR), filed its third quarter 2015 financial and operational update. GreenHunter also held an earnings/analyst conference call to discuss the company’s performance in the last quarter and to look ahead at what’s coming. The company continues to lose money, but the money they’re losing is less now than it was a year ago–and the numbers are not all that big in the scheme of things. GreenHunter lost $1.3 million in 3Q15, compared to a $3.9 million loss in 3Q14. Things are getting better financially for the company. The two things we were most interested in were (1) any mention of the lawsuit they launched against two former vice presidents who allegedly conspired with a competitor against the company (see GreenHunter Sues 2 Former VPs + OH Competitor for Conspiracy); and (2) any word about GreenHunter’s parent company MHR and an impending declaration of bankruptcy (see Dire Straits: Magnum Hunter Tells SEC Heading for Bankruptcy). In scouring the press release (below) and transcript of the analyst call (portions below), we found only a single very brief reference to MHR’s problems, and nothing about the lawsuit…

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