The Vancouver, British Columbia-based company and its partner, BlackBrush Oil & Gas LP, are in the process of forming a limited partnership, BlackBrush Terrace LP, to earn a 50% operated working interest in approximately 147,000 acres, principally in Maverick County in the emerging Pearsall shale trend in South Texas.
To date, the Company has invested approximately US$3.0 mil in drilling and completing the 26 producing wells, which are currently generating approximately US$80,000 in aggregate net revenue per month after deduction of royalty and taxes.
GreenHunter reported revenues for the three months ended March 31, 2013 of $8.6 million, compared to $2.3 million reported during the first quarter of 2012.
The 30-inch underground transmission pipeline would stretch from Susquehanna County, Pa., into Broome County, N.Y., Chenango County, N.Y., Delaware County, N.Y., and terminate in Schoharie County, N.Y.