$GRH - $1.65 PPS
Looking for a bounce up from here
Company Summary
GreenHunter Energy, Inc. is engaged in providing Total Water Management Solutions to oil and gas operators who are active in the Marcellus, Eagle Ford and Bakken shale plays. The Company operates in three segments: Wind Energy, Water Management and Biomass. All of the Company’s segments are in development stages with no operations. The Company assembled a suite of water management products and services and markets them under the Total Water Management Solutions brand. The Company’s operations includes Total Water Management Solutions, Frac-Cycle, remote access management compliance asset tracking (RAMCAT), equipment and tank rentals, disposal wells, MAG Tank and salt water disposal animation. On February 17, 2012, the Company closed on the acquisition of 100% of the ownership interest of three fully operational commercial salt water disposal (SWD) wells and associated facilities located in Washington County, Ohio and Lee County, Kentucky.
Management
CEO – Gary C. Evans
Gary C. Evans is the chairman and chief executive officer and founder of GreenHunter Energy. He has served as the Company’s chairman and chief executive officer since December 2006. He served as the Company’s President from inception until October 1, 2009. Mr. Evans is also the chairman of the board and chief executive officer of Magnum Hunter Resources Corporation, a NYSE listed company. Mr. Evans previously founded and served as the chairman and chief executive officer of Magnum Hunter Resources, Inc. (MHRI) a NYSE listed company, for twenty years before selling MHRI to Cimarex Energy for approximately $2.2 billion in June 2005. Mr. Evans serves as an Individual Trustee of TEL Offshore Trust, a NASDAQ listed oil and gas trust, and is the lead director of Novavax Inc., a NASDAQ listed clinical-stage vaccine biotechnology company.
Director – Ronald D. Ormand
Mr. Ormand is also a member of the Board of Directors of Tremisis Energy Acquisition Corporation II, a NYSE Amex listed special purpose acquisition corporation. Mr. Ormand previously served as President and Chief Financial Officer of Tremisis from November 2007 to March 2009. From April 2005 to October 2007, he served as a Managing Director with West LB, a German-based international bank where he served as Managing Director and Head of the North American Oil and Gas Investment Banking Group for North America. From 1988 through 2004, Mr. Ormand was with CIBC World Markets and Oppenheimer & Co., which CIBC acquired in 1997, where he served as Managing Director and Head of CIBC World Markets’ U.S. Oil and Gas Investment Banking Group. Mr. Ormand received a B.A. and an M.B.A. from the University of California at Los Angeles and attended Cambridge University in Cambridge, England where he studied Economics.
