Select Water Solutions - WTTR STOCK NEWS

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.

Select Energy Services (NYSE: WTTR) reported a third-quarter revenue of $204.6 million, up from $161.1 million in Q2 2021 and $101.2 million in Q3 2020. The net loss narrowed to $14.2 million compared to $19.6 million in Q2 2021. Adjusted EBITDA doubled to $15.1 million. The company achieved significant growth driven by M&A activity and pricing improvements, with a sequential base business revenue increase of 9%. Looking ahead, Select anticipates low double-digit revenue growth for Q4 2021, bolstered by acquisitions and pricing strategies.

Select Energy Services, Inc. (NYSE: WTTR) will release its third quarter 2021 financial results on November 2, 2021, after market close. A conference call is scheduled for November 3, 2021, at 11:00 a.m. Eastern Time. Investors can join the call by dialing 201-389-0872 or accessing it online. A replay will be available until November 17, 2021. Select Energy is recognized as a leader in providing sustainable water and chemical solutions for the oil and gas sector.

Select Energy Services (NYSE: WTTR) has successfully acquired Agua Libre Midstream and certain assets from Basic Energy Services, effective October 1, 2021. The deal, approved by the U.S. Bankruptcy Court, includes the issuance of 902,593 shares and $14.5 million in cash. This acquisition enhances Select's water disposal capacity by over 550,000 barrels per day across key regions, expanding its operational footprint significantly. CEO John Schmitz highlighted the strategic benefits, including advancing technology and diversification efforts.

Select Energy Services (NYSE: WTTR) announced an asset purchase agreement to acquire Agua Libre Midstream from Basic Energy Services. This transaction, a "stalking horse" bid under Chapter 11 Bankruptcy Code, awaits approval from the U.S. Bankruptcy Court. The acquisition would enhance Select's produced water infrastructure and increase revenue from production-related services, particularly in the Permian Basin. This strategic move is expected to solidify Select's position as a leader in sustainable water solutions for the oil and gas industry.