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.
Select Water Solutions, Inc. (NYSE: WTTR) stands as a prominent provider of sustainable water and chemical solutions dedicated to the energy industry. Headquartered in Houston, Texas, the company has expanded since its inception in 2007 in Gainesville, Texas, and now employs nearly 2,000 professionals. Select Water Solutions operates in every major shale play across the United States, servicing over 400 customers and delivering innovative, efficient end-to-end water solutions to oilfield operators.
At the core of Select's operations lies a focus on sustainability and safety. The company is known for its critical water infrastructure assets, chemical manufacturing, and advanced water treatment and recycling capabilities. The company's commitment to providing environmentally responsible water management solutions has made it a trusted partner in the industry.
Key Business Segments:
- Water Services: This segment generates the majority of Select's revenue and includes water sourcing, transportation, treatment, and recycling services.
- Water Infrastructure: Select develops and operates water pipelines, storage, and recycling facilities, ensuring efficient water management for its clients.
- Chemical Technologies: The company manufactures and supplies a range of chemical solutions tailored to enhance oilfield operations.
Recent Achievements:
- Financial Strength: In the third quarter of 2023, Select reported revenue of $389.3 million, maintaining strong operating cash flows and a debt-free balance sheet.
- New Projects: The company has undertaken significant infrastructure projects in the Northern Delaware Basin and East Texas, enhancing its water gathering and distribution capabilities.
- Strategic Acquisitions: Recent acquisitions of Trinity Environmental Services and Buckhorn Waste Services have expanded Select's operational footprint and service offerings.
- Innovative Partnerships: Collaboration with Occidental at the South Curtis Ranch facility has resulted in the treatment and recycling of 50 million barrels of produced water, demonstrating the company's commitment to environmental stewardship.
Focus on Sustainability: Select places a high priority on the safe, environmentally responsible management of water throughout the lifecycle of a well. The company continues to invest in infrastructure that supports water recycling and distribution, significantly reducing freshwater consumption and waste.
For more up-to-date information and detailed financial results, visit Select's website at https://www.selectwater.com.
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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