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 Energy Services, Inc. (NYSE: WTTR) announced the release of its second quarter 2022 financial results on August 2, 2022, post-market closure. A conference call to discuss these results is scheduled for August 3, 2022, at 11:00 a.m. Eastern Time. Interested parties can join the call by dialing 201-389-0872 or via the internet for a live broadcast. A replay will be available until August 17, 2022. Select Energy focuses on sustainable water and chemical solutions for the energy industry, showcasing its commitment to environmentally responsible management.
For the first quarter of 2022, Select Energy Services (NYSE: WTTR) reported revenue of $294.8 million, reflecting a 16% increase from the previous quarter. The company achieved net income of $8.0 million and an Adjusted EBITDA of $32.2 million, a 22% sequential rise. Select completed the acquisition of Nuverra Environmental Solutions and secured a $270 million sustainability-linked credit facility. The firm anticipates 8%-12% revenue growth in Q2 2022, aided by improved market activity and pricing dynamics.
Select Energy Services, Inc. (NYSE: WTTR) will release its first quarter 2022 financial results on May 3, 2022, after market close. An accompanying conference call is scheduled for May 4, 2022, at 11:00 a.m. Eastern Time. Interested parties can join via phone or online. A replay of the call will be available until May 18, 2022. The company provides water and chemical solutions to the unconventional oil and gas industry in the U.S., offering services that include sourcing, monitoring, and treatment of water used in hydraulic fracturing.
Select Energy Services has completed its acquisition of Nuverra Environmental Solutions, approved by major stockholders holding 84% of Nuverra's shares. Starting February 24, 2022, Nuverra's stock will cease trading. Stockholders received 0.2551 shares of Select for each Nuverra share. Select will also repay approximately $19 million of Nuverra's debt. This acquisition expands Select's water logistics capabilities and daily disposal capacity to over 2 million barrels per day, enhancing growth potential in targeted regions like the Bakken and Haynesville.
Select Energy Services (NYSE: WTTR) reported its financial results for Q4 and fiscal year 2021, showing robust growth. Revenue reached $255.1 million, up from $204.6 million in Q3 2021 and $133.3 million year-over-year. The company posted a net income of $11.2 million, reversing losses from previous quarters. Adjusted EBITDA rose to $26.4 million, a 74% sequential increase. The company emphasized growth from recent acquisitions and operational improvements, anticipating 5%-10% revenue growth for Q1 2022, driven by market trends and the Nuverra acquisition.
Select Energy Services, Inc. (NYSE: WTTR) will announce its fourth quarter and full-year 2021 financial results on February 22, 2022, after market close. A conference call is scheduled for February 23, 2022, at 11:00 a.m. ET, allowing investors to discuss the outcomes. The call can be accessed via phone or online. A replay of the call will be available until March 9, 2022. Select Energy offers sustainable water and chemical solutions for the oil and gas industry, emphasizing environmentally responsible water management.
Select Energy Services announced that two major stockholders of Nuverra Environmental Solutions have approved the merger agreement, representing approximately 84% of Nuverra's common stock. The merger, set to close in Q1 2022, follows the SEC's declaration of effectiveness for the Registration Statement. Both companies aim to enhance service offerings in the oil and gas sector, with Select providing full-cycle water and chemical solutions, while Nuverra specializes in water logistics and environmental services.
Select Energy Services (NYSE: WTTR) has announced the acquisition of Nuverra Environmental Solutions (NYSE American: NES) for approximately $45 million, including the assumption of $20 million in long-term debt. The deal, approved by both companies' boards, is set to close in Q1 2022, pending Nuverra stockholder approval. This acquisition is expected to enhance Select's footprint in the water logistics sector, adding over 300,000 barrels per day of disposal capacity across multiple states. Additionally, Select has also completed the acquisition of HB Rentals for $1.5 million.
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