Oil and Gas Production - The U.S. shale oil production has increased from approximately 500,000 barrels per day in 2010 to about 9 million barrels per day currently, accounting for around 9% of the total global oil supply[34] - U.S. shale gas production has risen from about 15 billion cubic feet per day in 2010 to approximately 85 billion cubic feet per day as of December 2024, representing nearly 80% of U.S. natural gas production[34] Water Management and Recycling - The completion of a typical horizontal well now requires over 750,000 barrels of water, compared to roughly 75,000 barrels in 2010[37] - Current multi-well pad development plans can require in excess of five million barrels of water to complete all wells on the pad[37] - The company is actively expanding its portfolio of water recycling facilities, emphasizing water recycling as a cornerstone of its operations[30] - The company has significantly increased its focus on recycling and reuse of produced water to meet industry demand and reduce fresh water usage[51] - The company aims to enhance its water infrastructure capabilities through recent acquisitions and new recycling and pipeline projects[48] - The Water Infrastructure segment has a combined daily throughput capacity of approximately 3.2 million barrels per day for active produced water recycling and 21 million barrels of produced water storage[69] - The Water Sourcing service line has secured rights to approximately two billion barrels of water annually from hundreds of strategically located sources across the U.S.[82] - The company operates the largest high-capacity aboveground water storage tanks (ASTs) in the U.S., with sizes ranging from 4,500 to 82,000 barrels[83] - The company has developed over 1,000 miles of temporary and permanent pipeline infrastructure across key regions, including the Permian Basin and Bakken Shale[72] Financial Performance and Acquisitions - In 2024, the company executed strategic acquisitions totaling approximately $163 million, including the Tri-State Acquisition for $58.3 million and the Trinity Acquisition for $30.8 million[44] - The company has $85.0 million in outstanding borrowings and $114.8 million of available borrowing capacity under its Prior Sustainability-Linked Credit Facility as of December 31, 2024[387] - As of February 17, 2025, the company had $250.0 million in outstanding indebtedness and $211.3 million of available borrowing capacity under its Sustainability-Linked Credit Facility[387] Environmental and Regulatory Compliance - The company is subject to various environmental regulations that could increase operational costs and limit operational capabilities[140] - The company is subject to regulations regarding the handling and management of Naturally Occurring Radioactive Materials (NORM), which may be present in oilfield wastes[110] - Under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), the company may face strict liability for costs associated with hazardous substance releases, including cleanup and damages[111] - The Clean Water Act (CWA) imposes strict controls on pollutant discharges, requiring permits from the EPA, which could lead to increased compliance costs and project delays[113] - The Oil Pollution Act of 1990 establishes liability for oil spill cleanup costs, with a current limit of $137.7 million for economic damages, unless gross negligence is proven[116] - The Underground Injection Control (UIC) program regulates saltwater disposal wells, and any leakage could result in significant remediation costs and permit suspensions[117] - Recent investigations into induced seismicity linked to wastewater disposal may lead to stricter regulations and operational restrictions in certain states[118] - Hydraulic fracturing is facing increased scrutiny and potential regulatory changes, which could impose additional costs and operational delays for the company and its customers[121] - New regulations on methane emissions finalized by the EPA in December 2023 require states to implement stringent controls, potentially impacting operational costs and compliance[128] - The IRA 2022 establishes a federal fee on methane emissions starting at $900 per ton in 2024, increasing to $1,500 by 2026[129] - Colorado's Energy and Carbon Management Commission adopted rules in January 2024 to scrutinize GHG emissions and set intensity targets for oil and gas operators[131] - President Biden announced a 50-52% reduction in GHG emissions from 2005 levels by 2030, with the U.S. rejoining the Paris Agreement uncertain[132] Operational Efficiency and Technology - The company’s Water Services segment utilizes patented WaterONE™ automation services and AquaView® software for 24/7 monitoring of water-related operations, improving efficiency and safety[32] - The company’s proprietary automation technologies improve efficiency and decrease costs for customers by providing integrated water transfer solutions[83] - The company’s logistics solutions can eliminate approximately 38,500 tank truck loads for a multi-well pad requiring five million barrels of water, significantly reducing costs and environmental footprint[38] - The company’s solid waste management facilities include a 50-acre landfill in North Dakota with more than five million cubic yards of permitted capacity[73] - The company is actively developing and deploying electric pumping units to decrease emissions and reduce the environmental impact of its operations[81] Human Capital and Safety - The company has over 3,700 employees as of December 31, 2024, focusing on human capital management and employee retention[54] - The company emphasizes a strong safety culture, with a Safety Recognition Program that has improved workplace safety and employee morale[53] - The company is committed to promoting human rights and social responsibility, ensuring respect for all individuals without discrimination[61] Market Conditions and Risks - The company faces risks related to capital spending reductions in the oil and gas industry, which could adversely affect liquidity and financial condition[23] - The demand for oilfield services is largely dependent on the level of drilling and completion activity in the U.S. oil and gas industry, influenced by various uncontrollable factors[384] - Sustained low oil and gas prices could lead to lower capital spending and reduced drilling and completion activity, adversely affecting the company's business and financial condition[386] - Litigation risks are increasing against oil and gas companies for contributing to climate change, alleging public nuisances and investor fraud[133] - Access to capital for fossil fuel producers may be restricted due to climate change policies, with institutional investors favoring clean energy[134] - The SEC has finalized a rule requiring climate-related disclosures, but its implementation is currently paused pending litigation[135] Liability and Indemnification - The company assumes responsibility for pollution or contamination from its equipment, while customers generally assume responsibility for other pollution during operations[153] - The company may incur substantial losses that could materially and adversely affect its financial condition due to unforeseen liabilities not addressed by contractual provisions[154] - The company does not currently have or intend to enter into any derivative arrangements to protect against fluctuations in interest rates applicable to its outstanding indebtedness[387] - The company’s MSAs delineate indemnification obligations, with mutual indemnification for personal injury or property loss, except in cases of gross negligence or willful misconduct[153] - The company is exposed to additional liability if it is grossly negligent or commits willful acts causing pollution or contamination[153] - Losses from catastrophic events, such as blowouts, are generally the responsibility of the customer[153]

Core Insights - Select Water Solutions and Occidental have made significant progress in reducing freshwater usage through the Lost Tank recycling facility, which has recycled over 50 million barrels of produced water [1][2][4] Group 1: Facility Operations and Capacity - The Lost Tank facility began operations in 2022 with an initial recycling capacity of 60,000 barrels per day, which has now expanded to 180,000 barrels per day, supported by 1.9 million barrels of storage [2] - The facility has successfully recycled over 50 million barrels of produced water, contributing to reduced environmental impact and addressing regional water management needs [2] Group 2: Infrastructure Development - A 13-mile produced water pipeline was constructed to connect the Lost Tank facility to Occidental's Mesa Verde assets, enhancing water recycling and reuse capabilities [3] - The network is expected to expand further by 2025, with plans to increase pipeline connectivity and integrate the facility into a broader system with a total storage capacity of 12 million barrels [3] Group 3: Commitment to Sustainability - The facility reflects the commitment of both companies to sustainability and innovation, aiming to reduce freshwater dependence and disposal volumes in the Delaware Basin [4] - Select Water Solutions emphasizes the importance of environmentally responsible water management throughout the lifecycle of a well [5]

GAINESVILLE, Texas, Feb. 10, 2025 /PRNewswire/ -- Select Water Solutions, Inc. (NYSE: WTTR) today announced that it will release 2024 fourth quarter and full year financial results on Tuesday, February 18, 2025 after the market closes. In conjunction with the release, the Company has scheduled a conference call, which will also be broadcast live over the Internet, on Wednesday, February 19, 2025 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).What:    Select Water Solutions 2024 Fourth Quarter and Full ...

Board Changes - Troy W Thacker will retire from Select Water Solutions' Board of Directors after nearly five years of service, with no disagreement with the company [1] - Bruce E Cope and Timothy A Roberts were appointed to the Board, bringing strong accounting, finance, and operational expertise in the oil and gas industry [1][4] New Board Member Profiles - Bruce E Cope has over 30 years of experience in the oil and gas industry, including roles as Senior Vice President at Hunt Consolidated and accounting positions at KPMG and Pacific Enterprises Oil Company USA [2] - Timothy A Roberts has over 20 years of experience in the oil and gas midstream sector, currently serving as CEO of Iron Horse Midstream and previously as CFO of Cardinal Midstream II [3] Company Strategy and Outlook - Select Water Solutions aims to advance midstream partnerships with E&P customers, optimize its business, and deliver market-leading water solutions as part of its Water Infrastructure growth strategy [4] - The company emphasizes sustainable water and technology solutions, supported by critical water infrastructure assets, chemical manufacturing, and water treatment capabilities [5] Industry Context - The company operates in the energy industry, providing water and chemical solutions with a focus on environmentally responsible water management throughout the well lifecycle [5]

GAINESVILLE, Texas, Jan. 28, 2025 /PRNewswire/ -- Select Water Solutions, Inc. (NYSE: WTTR) ("Select" or the "Company"), a leading provider of sustainable water and technology solutions to the energy industry, today announced the successful closing of a new five-year senior secured sustainability-linked credit facility ("Credit Facility"). The Credit Facility includes an initial $300 million revolving credit commitment ("Revolver") and $250 million in term loan commitments ("Term Loan"). Both the Revolver a ...

GAINESVILLE, Texas, Jan. 23, 2025 /PRNewswire/ -- Select Water Solutions, Inc. (NYSE: WTTR) ("Select" or the "Company"), a leading provider of sustainable water and chemical solutions to the energy industry, today announced that its Board of Directors declared a quarterly cash dividend of $0.07 per share of Class A common stock to be paid on February 14, 2025, to holders of record as of the close of business on February 4, 2025. A comparable distribution of $0.07 per unit has also been approved to the unith ...

Select Water Solutions, Inc. (WTTR) reported $371.35 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 4.6%. EPS of $0.15 for the same period compares to $0.14 a year ago.The reported revenue represents a surprise of +5.97% over the Zacks Consensus Estimate of $350.43 million. With the consensus EPS estimate being $0.14, the EPS surprise was +7.14%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Select Water Solutions, Inc. (WTTR) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.14%. A quarter ago, it was expected that this company would post earnings of $0.11 per share when it actually produced earnings of $0.13, delivering a surprise of 18.18%.Over the last four quarters, ...

Generated revenue of $371 million during the third quarter of 2024, an increase of 2% sequentially compared to the second quarter of 2024Produced $51.9 million of Operating Cash Flow and $20.4 million of Free Cash Flow during the third quarter of 2024 Increased Net income 26% and improved Adjusted EBITDA 4% sequentially during the third quarter of 2024 relative to the second quarter of 2024Water Infrastructure segment revenue, gross profit and gross profit before D&A increased sequentially by 20%, 42% and 3 ...

Select Water Solutions, Inc. (WTTR) is expected to deliver flat earnings compared to the year-ago quarter on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, ...