Tomahawk, WI 07/22/2014 (Basicsmedia) – Greenhunter Resources Inc (NYSEMKT:GRH) has said that it has filed a new service request to the Internal Revenue Service Department. It has filed an application regarding the income generated from its newly formed Limited Partnership, commonly known as MLP. The water management solutions company wants that the income from the MLP coming from the water monitoring services, environmental remediation services, frac tank rental, fluid storage services and treatment and disposal services should be termed under Qualified Income coming under the certain sections of the IRC of 1986.
All the services mentioned form a part of the exploration, mining, development, refining, processing and transportation of its natural resources. Greenhunter Resources Inc (NYSEMKT:GRH) has got different subsidiaries including GreenHunter Water, LLC, GreenHunter Hydrocarbons, LLC and GreenHunter Environmental Solutions, LLC. All the three subsidiaries are performing best as per the industry standards making the parent company a world leader in the total water management solutions.
The expansion plans
The company has significantly grown in the last couple of years. It is getting strength from the oilfield and shale plays operating in the Appalachian region. Greenhouse is working on the expansion plans. It is enhancing its down-hole injection capacity with the latest Class II Salt Water Disposal techniques. It has launched the frac water storage tanks of the next generation. It possesses a fleet of DOT rated 407 trucks that enhance the performance of activities including water hauling and condensates. Greenhunter Resources Inc (NYSEMKT:GRH)is forcing on barging segment. It will help the company to save on transportation costs. Also, the risk involved in barging transportation is negligible.
Greenhunter Resources Inc (NYSEMKT:GRH) already has a strong hold on the natural gas shale plays and unconventional oil fields. It has lined up numerous projects for the next three years. It now wants to have an MLP structure as the MLP trades at a premium. It also allows the companies to be privy for tax benefits. GreenHunter can take the tax benefits and can also find the most convenient way to fund the future capital needs.