SELECT WATER SOLUTIONS ANNOUNCES MULTIPLE STRATEGIC INFRASTRUCTURE ACQUISITIONS
HOUSTON, Jan. 30, 2024 /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 the acquisition of strategic water infrastructure assets in the Haynesville Shale and Rockies regions for approximately $90 million of aggregate cash consideration. These acquisitions will add approximately 450,000 barrels per day of permitted disposal capacity to Select's Water Infrastructure segment across 21 active saltwater disposal wells, two slurry injection wells, a solids treatment facility and a number of approved permits for additional recycling and disposal facility development. The active disposal operations are supported by a significant portfolio of interconnected gathering pipelines, strategic surface acreage and right-of-way, and multiple long-term pipeline gathering and dedication contracts.
- John Schmitz, Chairman of the Board, President and CEO, stated, "Select is the leader in delivering full life cycle water solutions to meet the growing need for long-term produced water management in the energy industry, and our recent acquisitions strengthen this position.
- The three acquisitions will bring additional contracted revenue and earnings power to our Water Infrastructure segment and strategically complement our existing water infrastructure networks in the Haynesville Shale and Rockies regions.
- Not only do these acquisitions fit our near-term strategy to grow and expand our production-based and contracted revenues within our Water Infrastructure segment, but they provide further development potential for two of our critical regional infrastructure networks.
- During January 2024, Select completed the acquisition of certain water disposal assets and operations in the Rockies region for cash consideration.