PERMIAN WATER RECYCLING FACILITY EXCEEDS 50 MILLION BARRELS TREATED AND REUSED

Rhea-AI Summary

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.

Positive

• Select Water Solutions and Occidental have successfully treated and recycled over 50 million barrels of produced water.
• The South Curtis Ranch facility in the Midland Basin has been operational since March 2021, showcasing sustainable water management.
• The initiative reduces freshwater consumption and waste, providing significant environmental benefits.
• Collaborative efforts between Select and Occidental demonstrate a strong commitment to environmental stewardship.

Negative

• The press release lacks specific financial data, making it difficult to assess the monetary impact on Select Water Solutions and Occidental.
• There is no mention of the costs associated with the water recycling processes, which could affect profitability.

HOUSTON, May 20, 2024 /PRNewswire/ -- Select Water Solutions, Inc. (NYSE: WTTR) ("Select" or the "Company"), a leading provider of sustainable water and chemical solutions to the energy industry, today announced their collaborative efforts with Occidental (NYSE: OXY) at the South Curtis Ranch treatment facility in the Midland Basin has successfully treated and recycled 50 million barrels of produced water. Operational since March 2021, this permanent facility showcases the commitment of both companies to sustainable operations in the region.

"Reaching this milestone at one of our flagship facilities is a testament to the hard work and dedication of both teams. This facility not only delivers value to our operator partners, but also provides significant environmental benefits to the community," stated John Schmitz, Select's Chairman of the Board, President and CEO.

Facilities like South Curtis Ranch exemplify the advantages of long-term water programs and infrastructure designed to collect produced water from a vast and complex network of production wells, thereby reducing freshwater consumption and waste.

"By treating and reusing produced water, we use technology and collaboration to reduce water consumption and preserve a precious resource," said Thaimar Ramirez, President and General Manager of Occidental's Midland Basin Business Unit. "Occidental's dedication to responsible operations, including water management, reflects our belief that environmental stewardship is essential for community and ecological wellbeing."

About Select Water Solutions, Inc.

Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing 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 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 Company's continued success.  For more information, please visit Select's website, https://www.selectwater.com.

WTTR-PR

Contacts:	Select Water Solutions
	Chris George – EVP & CFO
	(713) 296-1073
	IR@selectwater.com
	Dennard Lascar Investor Relations
	Ken Dennard / Natalie Hairston
	(713) 529-6600
	WTTR@dennardlascar.com

 

View original content:https://www.prnewswire.com/news-releases/permian-water-recycling-facility-exceeds-50-million-barrels-treated-and-reused-302150445.html

SOURCE Select Water Solutions, Inc.

FAQ

What milestone has Select Water Solutions and Occidental achieved?

Select Water Solutions and Occidental have treated and recycled over 50 million barrels of produced water at the South Curtis Ranch facility in the Midland Basin.

When did the South Curtis Ranch facility begin operations?

The South Curtis Ranch facility began operations in March 2021.

What are the environmental benefits of the South Curtis Ranch facility?

The facility reduces freshwater consumption and waste, providing significant environmental benefits to the community.

What is the significance of the collaboration between Select Water Solutions and Occidental?

The collaboration demonstrates a strong commitment to sustainable water management and environmental stewardship, reflecting the dedication of both teams.