Welcome to our dedicated page for Select Water Solutions news (Ticker: WTTR), a resource for investors and traders seeking the latest updates and insights on Select Water Solutions stock.
Overview
Select Water Solutions (WTTR) is a renowned name in the energy industry, specializing in sustainable water and chemical solutions. Through its integrated approach, the company offers end-to-end water treatment, recycling, and disposal services that address the challenges of produced water management. Its operational platform is built on a robust infrastructure that includes water treatment facilities, expansive pipeline networks, and advanced chemical technologies, ensuring a safe and efficient delivery of services to oilfield operators and related energy sector clients.
Business Segments
The company operates through three primary segments:
- Water Services: The core revenue driver, offering comprehensive services including produced water gathering, recycling, and disposal to optimize water use and minimize waste.
- Water Infrastructure: Focused on constructing and maintaining critical water pipelines and recycling facilities, this segment enhances the company’s ability to integrate and expand its service network across major production regions.
- Chemical Technologies: Leveraging advanced chemical processes and manufacturing capabilities to support water treatment processes and improve the efficiency of water reuse operations.
Operational Excellence and Safety
The company emphasizes a safety-first culture and a commitment to operational excellence. Its approach is built on extensive industry experience and a customer-centric philosophy that has been refined over years of service. By prioritizing safety and leveraging innovative technologies, Select Water Solutions effectively manages the lifecycle of a well, ensuring operational reliability while reducing freshwater consumption and waste generation.
Market Position and Competitive Advantage
Positioned as a trusted partner in the energy industry, Select Water Solutions differentiates itself with a well-integrated network of water infrastructure assets and chemical expertise. The company has secured long-term contracts that reflect its reliability in delivering efficient water solutions. Its extensive infrastructure, including pipelines, recycling capabilities, and disposal facilities, provides a strategic advantage in meeting the evolving demands of oilfield operators. This robust network supports not only operational continuity but also scalability in addressing diverse water management challenges.
Industry Specific Insights
In an industry where sustainable water management is critical, Select Water Solutions offers a holistic solution tailored to the needs of the energy sector. The company’s technical expertise in chemical processing and advanced water treatment methodologies enables a seamless integration of services that reduce environmental impact and enhance resource efficiency. This competitive positioning is underpinned by its commitment to safety, operational precision, and a constant drive to innovate across its service segments.
Comprehensive Client-Centric Solutions
Every project undertaken by Select Water Solutions is supported by a strategic approach that emphasizes client needs and operational integrity. The company provides tailored solutions that span from water sourcing and recycling to efficient produced water disposal. By building and utilizing a broad network of dedicated water infrastructure assets, the company ensures that its clients receive solutions that are both innovative and reliable, positioning it well within a competitive and challenging market landscape.
This comprehensive overview demonstrates the company’s in-depth expertise in managing and treating produced water, its commitment to safety and operational efficiency, and its capacity to serve as a critical partner to key energy sector players. The focus on detailed operational insight, technical proficiency, and a clear organizational structure makes Select Water Solutions an essential subject of study for those evaluating sustainable water solutions in the energy industry.
Select Water Solutions (NYSE: WTTR) reported strong Q2 2024 financial results, with revenue of $365 million and net income more than tripling sequentially. The company generated $83.1 million in operating cash flow and $37.4 million in free cash flow. The Water Infrastructure segment showed significant growth, with revenue up 8% and gross profit before D&A up 17% quarter-over-quarter. Select closed on multiple acquisitions and contracted new infrastructure projects in the Permian Basin. The company expects Adjusted EBITDA of $66-70 million for Q3 2024 and has increased its 2024 net capital expenditure forecast to $170-190 million due to additional growth opportunities.
Select Water Solutions (NYSE: WTTR), a leading provider of sustainable water and chemical solutions for the energy industry, has announced a quarterly cash dividend of $0.06 per share of Class A common stock. The dividend will be paid on August 16, 2024, to shareholders of record as of August 5, 2024. A comparable distribution of $0.06 per unit has also been approved for unitholders of SES Holdings, , subject to the same payment and record dates.
This decision demonstrates Select's commitment to returning value to shareholders. However, it's important to note that all future dividend payments will be subject to quarterly review and approval by Select's Board of Directors, indicating a cautious approach to financial management.
Select Water Solutions (NYSE: WTTR) has announced its schedule for the release of its 2024 second quarter financial results. The company will release the results on Tuesday, July 30, 2024 after the market closes. A conference call is scheduled for Wednesday, July 31, 2024, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss the results.
Interested parties can participate in the call by dialing 201-389-0872 or by accessing the webcast at https://investors.selectwater.com/events-presentations/current. For those unable to attend the live call, a replay will be available until August 14, 2024, accessible by dialing 201-612-7415 and using passcode 13747951#. The webcast archive will also be available for 90 days after the call.
Select Water Solutions (NYSE: WTTR) has released its 2023 Sustainability Report, showcasing significant strides in environmental sustainability and operational excellence. In 2023, Select achieved a 9% reduction in combined Scope 1 and Scope 2 emissions intensity, treated or recycled 18.4 billion gallons of water (a 37% increase from 2022), and recycled 6.6 billion gallons at fixed facilities (a 47% increase from 2022).
The company exceeded its annual water recycling and employee safety targets embedded in its sustainability-linked credit facility by 319% and 57%, respectively. Select's advanced chemical solutions contribute to optimizing recycling processes and enhancing oil and gas production efficiency. Additionally, the report highlights key ESG performance metrics, including a 10% reduction in Scope 1 emissions intensity and a 2% reduction in Scope 2 emissions intensity, a diverse workforce with 53% representation from underrepresented ethnic groups, and a TRIR of 0.44.
The report aligns with external disclosure frameworks like TCFD, SASB, and GRI standards. For more details, visit Select's website.
Select Water Solutions (NYSE: WTTR) has announced its investor conference schedule for the second and third quarters of 2024. Key executives, including Chairman John Schmitz and CFO Chris George, will present and host one-on-one meetings at multiple events. These include the 14th Annual East Coast IDEAS Investor Conference on June 13 in New York, the J.P. Morgan Energy, Power & Renewables Conference on June 17, and the Calgary Stampede Conference on July 9.
Additional appearances are scheduled at the Industrial and Energy Showcase on August 8-9, Citi One-on-One Midstream and Energy Infrastructure Conference on August 13, EnerCom Energy Investment Conference on August 20, and more through September 18, 2024. The presentations and webcasts will be accessible on Select's Investor Relations website.
Select Water Solutions (NYSE: WTTR), a provider of sustainable water and chemical solutions for the energy industry, announced participation in the Water Tower Research Fireside Chat Series on May 22, 2024, at 11:00 a.m. Eastern Time. Key speakers will include John Schmitz, Chairman, President and CEO, and Chris George, EVP and CFO.
The event is open to all investors, who can register through a provided link. A replay of the webcast will be available afterward. This allows stakeholders to gain insights into the company's strategies and future outlook directly from top executives.
Select Water Solutions (NYSE: WTTR) and Occidental (NYSE: OXY) have achieved a significant milestone at their South Curtis Ranch facility in the Midland Basin, successfully treating and recycling over 50 million barrels of produced water since its inception in March 2021. This facility exemplifies sustainable water management by reducing freshwater consumption and waste, reflecting both companies' commitment to environmental stewardship. The achievement highlights the collaborative efforts and dedication of both teams to adopt long-term water recycling programs, providing economic value and environmental benefits to the community.
Select Water Solutions reported solid financial performance in the first quarter of 2024, with revenue of $367 million and an increase in Adjusted EBITDA. The company closed several strategic acquisitions, expanded its infrastructure projects, and executed multiple long-term contracts. Despite a slight decline in revenue, the company remains optimistic about future growth prospects.
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