Select Water Solutions, Inc.

Select Water Solutions Announces Agreement to Acquire Pilot Water Solutions

Select Water Solutions has signed a definitive agreement to acquire Pilot Water Solutions LLC, a leading private water midstream operator with a core position in the Delaware Basin, for $700 million (plus $15 million contingent), paid as $600 million cash and $100 million in Class A stock. The deal adds an estimated $120-130 million of 2027E EBITDA and $10-15 million of targeted cost synergies, and shifts Select's mix toward Water Infrastructure, expected to be roughly 70% of pro forma profitability by 2027. Pro forma net leverage is expected to be under 2.0x at closing, with the cash portion funded via cash on hand, committed debt from J.P. Morgan and Bank of America, and/or additional debt financing. The transaction is expected to close in Q4 2026, subject to regulatory approvals including HSR clearance.

•1mo ago

SELECT WATER SOLUTIONS ANNOUNCES RELEASE OF 2025 SUSTAINABILITY REPORT

Select Water Solutions published its 2025 Sustainability Report, disclosing that it treated or recycled 23.3 billion gallons (554 million barrels) of produced water in 2025, a 16% year-over-year increase. The company meaningfully exceeded its 2025 sustainability-linked credit facility targets, outperforming on produced water recycling by 17% and on employee safety (TRIR) by 51%, which management said resulted in an improved cost of capital with its financing partners. Combined Scope 1 and Scope 2 emissions fell 7% year-over-year, recycled water rose to 78% of total water volumes sold from 61% in 2024, and safety rates came in at TRIR 0.31 and LTIR 0.16. CEO John Schmitz cited a year of growth milestones, including multiple new long-term water infrastructure contracts, bolt-on acquisitions, a strategic asset swap, and groundbreaking on Texas's first produced water lithium extraction facility.

•1mo ago

Select Water Solutions Announces Significant Water Infrastructure Expansion with a Large Public Operator in the Northern Delaware Basin

Select Water Solutions announced a 12-year amended agreement with a large public operator in the Northern Delaware Basin, expanding its footprint to more than 875,000 dedicated and ROFR acres. To support this expansion, the company plans to construct approximately 100 miles of pipelines, three million barrels of storage, and 60,000 barrels per day of recycling capacity at a cost of roughly $100-$120 million by the end of 2027. The agreement includes an option to acquire saltwater disposal wells and increases certain fixed pricing terms, while the company affirmed its 2026 capital expenditure guidance remains unchanged.

•2mo ago

WTTR: 10-Q · periodic report

Select Water Solutions delivered a strong Q2 2026, with revenue of $395.8 million, up 8.7% from $364.2 million a year ago, and net income attributable to the company of $21.0 million — nearly double the prior-year $10.6 million. Diluted Class A EPS rose to $0.17 from $0.10, led by Water Infrastructure revenue up roughly 26% and Chemical Technologies up 42%, while Water Services slipped 8%. The balance sheet improved: credit facility borrowings were cut to $250.0 million from $320.0 million at year-end 2025, cash rose to $33.4 million, and unused availability under the $550 million sustainability-linked facility stood at $244.4 million, with the company in compliance with all debt covenants. Growth spending ran well ahead of internal cash generation, with first-half capex of $149.4 million versus $97.0 million of operating cash flow, bridged by a February 2026 offering of 15.78 million shares at $12.75 that raised about $201.3 million gross. 2026 deals included the $18.6 million Black River Ranch water-rights acquisition and two Permian-area saltwater disposal purchases totaling roughly $13.5 million. Watch items: the Class A share count grew to 127.1 million from 104.9 million at year-end, the tax receivable agreement liability rose to $50.1 million after 5.06 million LLC unit exchanges, and the company booked $5.9 million of first-half impairments and abandonments while the ICE Thermal equity investment was written down to zero.

SEC 10-Q•2mo ago

Select Water Solutions Announces Second Quarter 2026 Financial, Operational and Strategic Updates

Select Water Solutions reported Q2 2026 revenue of $396 million, up 8% sequentially, with net income rising to $23 million and Adjusted EBITDA increasing to $93 million. Both Water Infrastructure and Chemical Technologies segments achieved record revenue, driven by a 23% sequential increase in Chemical Technologies and a 26% year-over-year increase in Water Infrastructure. The company secured a seven-year agreement with a large public operator for the conveyance of 14 SWDs and a 128-million-barrel minimum volume commitment, guiding 2026 capex to $250-$290 million and Q3 Adjusted EBITDA to $90-$94 million.

•2mo ago

Select Water Solutions Announces Quarterly Cash Dividend of $0.07 Per Share

Select Water Solutions' Board declared a quarterly cash dividend of $0.07 per share of Class A common stock. The dividend is payable on August 19, 2026, to holders of record as of the close of business on August 7, 2026. A comparable distribution of $0.07 per unit was also approved for unitholders of SES Holdings, LLC, subject to the same dates.

•3mo ago

Select Water Solutions Announces Definitive Agreement with ISE Chemicals Corporation Providing for the Development of Commercial Iodine Production Facilities Utilizing Produced Water Infrastructure Across Texas, New Mexico and Oklahoma

Select Water Solutions entered a definitive agreement with ISE Chemicals Corporation to develop commercial iodine production facilities utilizing Select's produced water infrastructure across Texas, New Mexico and Oklahoma. ISE Chemicals will fund, design, construct, own, and operate the facilities, while Select will provide water sourcing, transportation and infrastructure support in exchange for royalty payments. The initial commercial facility in the Permian Basin is targeted for commissioning in 2027, with a broader development program aiming for approximately 3,000 tonnes per year of iodine production by the end of 2030.

•4mo ago

Select Water Solutions Announces First Quarter 2026 Financial, Operational and Strategic Updates

Select Water Solutions reported Q1 2026 revenue of $366 million, up 6% sequentially, with net income swinging to a profit of $9.4 million. The company raised its full-year Water Infrastructure segment guidance to 25-30% year-over-year growth and increased its 2026 net CapEx outlook to $200-$250 million to support expansion. Additionally, Select closed $28.6 million of acquisitions in the Northern Delaware Basin to add disposal capacity and water rights.

•5mo ago