Houston, TX – October 2021 – SCF Partners (“SCF”) portfolio company Select Energy Services, Inc. (NYSE: WTTR) (“Select”) has successfully closed on the acquisition of substantially all the assets of Agua Libre Midstream, LLC (“Agua Libre”) and certain water-related assets and operations of Basic Energy Services, L.P. (“Basic”). This acquisition further increases Select’s production related solutions and expands its capacity in key geographies.
John Schmitz, Chairman, President and CEO, stated, “We are very excited to execute on another accretive consolidation opportunity for Select. This acquisition significantly expands our produced water infrastructure footprint and further increases the Company’s revenue weighting towards production-related services. This acquisition is a continuation of our strategic effort to improve and bolster our base business, advance our technology and diversification efforts, and execute on strategic consolidation opportunities.”
Schmitz also added the transaction will add more than 550,000 barrels per day of permitted daily disposal capacity in in Texas, New Mexico, Oklahoma and North Dakota, with approximately 50% of this capacity in the Permian Basin. When combined with Select’s existing assets, this brings the company-wide permitted daily disposal capacity to approximately 2 million barrels per day.
“Select continues to add to its market leading water management platform, and this transaction further broadens its infrastructure for water treatment and recycling,” says David Baldwin, SCF Co-President and Select Board Member. “Operators are increasingly focused on reducing freshwater usage in their completion operations, and we believe Select will be the leader in this important growth market, which will help their customers realize their ESG goals, and gain cost efficiencies.”
About Select Energy Services
Select Energy Services, Inc. and its consolidated subsidiaries (collectively referred to as “Select” or the “Company”) is a leading provider of sustainable water and chemical solutions to the oil and gas industry. Select develops, manufactures and delivers a full suite of chemical products for use in oil and gas well completion and production operations as well as integration into the full water life-cycle. These solutions are supported by the Company’s critical water infrastructure assets and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of oilfield water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the continued success of the Company. For more information, please visit Select’s website, www.selectenergy.com.