GreenHunter Resources 2Q15: Revenue Down, But Bleeding Less Too

GreenHunter Resources, the fresh water and wastewater subsidiary of driller Magnum Hunter Resources (now focused totally on the Marcellus/Utica), issued its second quarter 2015 update on Friday. The company is a small company compared to others in the oil and gas space with revenues in the few million per quarter. In 2Q15 GreenHunter’s revenues were $4.6 million, down 33% from $6.9 million in 2Q14. No surprise there since drillers are scaling back their activities. GreenHunter has trimmed its operating loss number–from $3 million in 2Q14 to $1.6 million in 2Q15–so the bleeding is slowing, a good sign. The 2Q15 update below brings us up to speed on a number of interesting initiatives at GreenHunter, including their new wastewater injection wells in Meigs County, OH. However, the interesting thing MDN picked up on was in the unscripted comments during GreenHunter’s earnings call held on Friday with analysts. That’s so important we’re dedicating a separate post to it today. Here is the 2Q15 update from GreenHunter…

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