AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) Files An 8-K Other EventsITEM 8.01 Other Events
On February 21, 2017, the Court of Common Pleas in Franklin County, Ohio (the “Court”) issued its Final Decision and Order in the AWMS Water Solutions, LLC appeal of the Ohio Oil and Gas Commission’s decision that upheld the Division of Oil and Gas Resources Management’s (the “Division”) suspension of AWMS #2. AWMS Water Solutions, LLC (the “Company”) is a wholly owned subsidiary of Avalon Holdings Corporation. The Court’s Order sets conditions for the restarting of AWMS #2 in accordance with the proposed restart plans filed by the Company on January 20, 2017 with minor revisions.
As previously reported, on December 23, 2016, the Court issued its Decision and Order in the Company’s appeal of the Ohio Oil and Gas Commission’s decision that upheld the Division of Oil and Gas Resources Management’s suspension of AWMS #2. The Court found that the Division’s suspension and refusal to work with the Company for over 26 months was arbitrary and not in accordance with reason and therefore vacated the Ohio Oil and Gas Commission’s decision.
Subsequent to the December 23, 2016 ruling, and in accordance with the Decision and Order, both the Company and the Division submitted their written restart plans to the Court. The Company’s plan, filed on January 20, 2017, set forth both the initial volumes and pressures and increases in volume and pressure while continuously monitoring seismicity and addressing the concerns of public health and safety.
While the Company is currently making preparations for restarting the well and opening the facility, the Ohio Department of Natural Resources filed a Motion to Stay the Court Order on February 22, 2017. The Company does not know if that action will delay the restarting of the well and reopening of the facility.
About AVALON HOLDINGS CORPORATION (NYSEMKT:AWX)
Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in northeastern and midwestern United States markets, captive landfill management for an industrial customer and salt water injection well operations. The Company operates through two segments. The Company’s waste management services segment includes waste disposal brokerage and management services, captive landfill management operations and salt water injection well operations. The golf and related operations segment includes the operation and management of over three golf courses and related clubhouses, a hotel, fitness centers, tennis courts, spa services, dining and banquet and conference facilities and a travel agency. Its subsidiary, American Waste Management Services, Inc., assists customers with managing and disposing of wastes at various treatment and disposal sites. Its golf courses are located in Warren, Ohio, Vienna, Ohio and Sharon, Pennsylvania. AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) Recent Trading Information
AVALON HOLDINGS CORPORATION (NYSEMKT:AWX) closed its last trading session up +0.17 at 3.10 with 14,223 shares trading hands.
