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Brief -- GreenHunter Bankruptcy

The oil and gas wastewater management company GreenHunter Resources Inc. and several subsidiaries have filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Texas' Fort Worth Division. GreenHunter, an affiliate of Magnum Hunter Resources Corp., which also filed for bankruptcy protection in December, said it would continue to operate as a debtor-in-possession (DIP) (see Shale Daily, Dec. 15, 2015). The company has filed a motion for the approval of DIP financing of $3.5 million to run its day-to-day operations. But the company said it anticipates selling all of its assets by May 5. The company operates in the Appalachian Basin. It entered the region in 2011 and has become one of its largest brine water disposal businesses. 

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