Total consideration received from the sale of the Westhoff SWD was $3.375 million. This SWD has a daily permitted disposal capacity of 25,000 barrels (BBL).
The well was originally drilled in October 2012 and had actual maximum monthly injections of 34,630 barrels or 4,305 barrels per day back in March 2013.
GreenHunter Water has also entered into an operating agreement with the purchaser of this property, Clear Water Resources Partners, LLC, until the UIC permit transfer with the Texas Railroad Commission (TRRC) has been completed and approved.
Commenting on the sale of this additional non-core asset, Kirk Trosclair, GreenHunter’s executive vice president and COO, stated, "GreenHunter continues to execute and fast track the divestiture of its South Texas salt water disposal (SWD) assets as mentioned during the fourth quarter of 2013. We currently have one remaining salt water disposal (SWD) facility located in Dilley, TX, which is under contract to be sold in April. Management is continuing its game plan of focusing 100 percent of our future growth to the existing and fast growing asset base located in the Appalachian Region."
