Select Water Solutions, Inc. reports developments in sustainable water and chemical solutions for the U.S. energy industry. Company news centers on quarterly operating results across Water Services, Water Infrastructure and Chemical Technologies, including water transfer, water sourcing, fluids hauling, containment, monitoring, water-network automation, produced-water recycling and chemical manufacturing.
Recurring updates also cover long-term water infrastructure projects, gathering and distribution pipeline networks, disposal and recycling assets, friction reducer and specialty surfactant demand, Class A common stock offerings, quarterly cash dividends and distributions tied to SES Holdings, LLC. Select-related announcements may also address third-party technology deployments at company sites that use produced-water infrastructure for recycling or mineral-extraction applications.
Select Water Solutions (NYSE: WTTR) closed its acquisition of Pilot Water Solutions for approximately $700 million in aggregate consideration. Pilot Water primarily operates in the Delaware Basin. A Select subsidiary acquired it on a debt-free basis, paying approximately $600 million in cash, subject to customary post-closing adjustments, and issuing 5,149,331 Class A shares.
One seller is entitled to an additional $15 million if operational milestones expected in early 2027 are met. That seller also has a cash true-up right if the specified 30-day average share price before the closing's six-month anniversary is below its pre-closing comparison. A new $500 million revolving credit facility became effective, replacing the previous sustainability-linked senior secured facility. Select plans to integrate its recycling business with the combined Delaware Basin disposal platform.
Select Water Solutions (NYSE: WTTR) declared a quarterly cash dividend of $0.07 per Class A share, payable November 25, 2026.
Shareholders must be holders of record at the close of business on November 13, 2026. SES Holdings unitholders will receive an approved distribution of $0.07 per unit on the same payment and record dates. Future dividends remain subject to quarterly review and approval by Select's board.
Select Water Solutions (NYSE: WTTR) will release its third-quarter 2026 financial results before the market opens on November 9, 2026. A conference call and live webcast will follow that day at 11:00 a.m. Eastern Time. A telephone replay will be available through November 23, 2026, and the webcast archive will remain available for 90 days.
Select Water Solutions (NYSE: WTTR) announced that subsidiary Select Water Holdings priced an upsized $900 million senior notes offering. The offering increased from $800 million and was priced at par. The notes carry 7.625% annual interest and mature November 1, 2034. Closing is expected October 21, 2026, subject to customary conditions.
The issuer intends to use net proceeds and cash on hand to fund part of the Pilot Water Solutions acquisition, repay its term loan in full and any outstanding revolving loans, and cover transaction costs and general corporate needs. The offering is not contingent on the acquisition closing. Failure to complete or pursue the acquisition under specified conditions would require partial redemption of the notes.
Select Water Solutions (NYSE: WTTR) announced that its subsidiary Select Water Holdings intends to offer $800 million in senior notes. The notes would mature in 2034, and the offering is subject to market conditions.
The issuer plans to combine net proceeds with cash on hand and borrowings under a new revolving credit facility to fund part of the previously announced Pilot Water Solutions acquisition, repay its term loan facility in full and outstanding loans under its existing revolving credit facility, and cover transaction costs and general corporate needs. The offering is not contingent on the acquisition closing. Specified acquisition-related triggers would require partial redemption, including failure to close by March 1, 2027, unless the parties extend the acquisition agreement's outside date.
Select Water Solutions (WTTR) agreed on September 24, 2026, to acquire Pilot Water Solutions for $700 million in cash and stock.
The debt-free purchase calls for $600 million in cash, subject to purchase-price adjustments, and $100 million in Select Class A shares. Sellers may receive another $15 million in cash if operational milestones are met. Closing is expected in the fourth quarter of 2026, subject to regulatory approvals and other customary conditions.
Long-term contracts back more than 80% of Pilot Water’s annual revenue, including 480,000 barrels per day of minimum volume commitments. Select expects Pilot Water’s adjusted EBITDA to rise from $100–$110 million in 2026 to $120–$130 million in 2027, primarily due to a new 175,000-barrel-per-day minimum-volume contract. Select targets $10–$15 million in additional annual cost savings within 12–18 months and expects pro forma net leverage below 2.0 times at closing.
Select Water Solutions (WTTR) published its 2025 Sustainability Report detailing environmental, safety and recycling performance for 2025.
The company treated or recycled 23.3 billion gallons (554 million barrels) of produced water in 2025, a 16% increase from 2024, and lifted recycled water to 78% of total water volumes sold, up from 61% in 2024. Combined Scope 1 and 2 greenhouse gas emissions fell 7% year over year, including a 20 thousand metric ton cut in Scope 1, partially offset by a 2 thousand metric ton rise in Scope 2.
Select also outperformed sustainability-linked credit facility targets for recycled produced water and safety by 17% and 51%, respectively, achieving LTIR of 0.16 and TRIR of 0.31, which the company said contributed to an improved cost of capital.
Select Water Solutions (NYSE: WTTR) announced an amended and expanded 12-year agreement with a large investment-grade public operator covering produced water gathering, disposal, and treated water supply across more than 875,000 dedicated and right-of-first-refusal acres in the Northern Delaware Basin. The amendment adds 256,000 newly dedicated acres, converts 104,000 ROFR acres to dedicated acres, and includes 104,000 new ROFR acres, resulting in about 500,000 dedicated acres and 375,000 ROFR acres in total.
According to the company, Select will construct roughly 100 miles of pipelines, 3 million barrels of storage, and 60,000 barrels per day of additional recycling capacity to support development in Eddy County, New Mexico. The expansion, expected to cost $100–$120 million, should be operational by the end of 2027 and will interconnect with Select's broader Northern Delaware network. This spend represents contracted growth capital in 2027, while 2026 capital expenditure guidance remains unchanged. The operator also granted Select an exclusive option to acquire multiple saltwater disposal wells in Lea County, New Mexico and Culberson County, Texas for potential integration into its Permian Basin network.
Select Water Solutions (NYSE: WTTR) reported second quarter 2026 revenue of $395.8 million, up 8% sequentially and 9% year-over-year, with net income of $22.6 million and Adjusted EBITDA of $92.7 million. Gross margin rose to 19.4%, with gross margin before D&A at 31.3%.
Water Infrastructure revenue reached a record $101.6 million with 58.3% gross margin before D&A, while Chemical Technologies delivered record revenue of $96.0 million, up 23% sequentially, with 20.2% margins. Water Services generated $198.2 million of revenue, growing 3.6% sequentially but declining year-over-year.
Operating cash flow was $86.7 million and free cash flow $17.0 million. Select executed a seven-year Northern Delaware Basin agreement including conveyance of 14 SWDs, construction of 19 miles of pipeline, and a 128-million-barrel MVC. Total liquidity stood at $277.8 million, with no revolver borrowings.
Select Water Solutions (NYSE: WTTR) announced that its Board of Directors declared a quarterly cash dividend of $0.07 per share on its Class A common stock. The dividend will be paid on August 19, 2026, to shareholders of record as of August 7, 2026. A comparable $0.07 per unit distribution was also approved for SES Holdings, LLC unitholders, with the same record and payment dates. According to the company, future dividends will remain subject to quarterly review and Board approval.