If You Invested in Aris Mining Corp (ARIS)

Aris Water Solutions, Inc. (formerly NYSE: ARIS) operated as an environmental infrastructure and solutions company focused on the oil and gas industry. According to company disclosures, Aris described itself as a growth-oriented business that directly helped its customers reduce their water and carbon footprints. It did this by delivering full-cycle water handling and recycling solutions designed to increase the sustainability of energy company operations.

Aris’s activities were concentrated in the core areas of the Permian Basin, where it supported oil and gas development through produced water management and water supply services. The company reported that its integrated pipelines and related infrastructure were intended to create long-term value by delivering high-capacity, comprehensive produced water management, recycling, and supply solutions to operators. These services aligned with the broader category of support activities for oil and gas operations within the mining, quarrying, and oil and gas extraction sector.

In public communications, Aris highlighted its role in full-cycle water handling. This included produced water transportation and handling, recycled water supply, and broader produced water management for energy producers. The company also referenced produced water recycling volumes, groundwater volumes sold, and skim oil recoveries as key operational metrics in its reports, underscoring its focus on both water infrastructure and associated by-product recovery.

Aris’s business model was supported by long-term contracts and agreements with upstream operators in the Permian Basin. For example, the company announced an extension of its Water Gathering and Disposal Agreement with ConocoPhillips, under which Aris, through a subsidiary, continued to provide long-term full-cycle water infrastructure services, including recycled water supply, produced water transportation, and produced water handling operations in the Northern Delaware Basin. The company stated that this extension lengthened the acreage-weighted remaining term of its produced water contracts and provided substantial long-term revenue visibility.

From an infrastructure perspective, Aris disclosed that its full-cycle water assets included produced-water pipelines, produced-water handling capacity, and water recycling capacity, all dedicated to supporting operators in the Permian Basin. The company also referenced dedicated acreage from investment grade counterparties and average contract tenors for its produced-water and water solutions volumes, emphasizing the contracted nature of much of its business.

Aris reported on its operations through metrics such as total water volumes handled per day, produced water handling volumes, recycled produced water volumes sold, groundwater volumes sold, and skim oil recoveries. It also discussed non-GAAP measures such as Adjusted EBITDA, Adjusted Net Income, and Adjusted Operating Margin per Barrel in its financial updates, explaining that these measures were used by management and investors to assess the performance of its water gathering and processing segment and its ability to generate cash from its asset base.

Corporate developments significantly changed Aris’s status as a standalone public company. On August 6, 2025, Aris and Western Midstream Partners, LP (WES) announced that they had entered into an Agreement and Plan of Merger under which WES would acquire all outstanding shares of Aris in an equity-and-cash transaction. Subsequent joint announcements described the election mechanics for Aris securityholders, including options to receive WES common units, cash, or a mix of both, subject to an overall cap on total cash consideration.

On October 15, 2025, Aris filed a Form 8-K reporting that a series of mergers had been completed pursuant to the Merger Agreement. In these transactions, Aris Water Solutions, Inc. and Aris Water Holdings, LLC became wholly owned subsidiaries of Western Midstream Partners, LP. The same Form 8-K reported that, in connection with the consummation of the mergers, Aris’s Class A common stock ceased trading on the New York Stock Exchange and that the NYSE had filed a Form 25 to remove the listing and deregister the shares under Section 12(b) of the Exchange Act.

Following the completion of the acquisition, Aris moved to terminate its remaining registration and reporting obligations. On October 27, 2025, Aris Water Solutions, Inc. filed a Form 15 to certify the termination of registration under Section 12(g) of the Securities Exchange Act of 1934 and to suspend its duty to file reports under Sections 13 and 15(d). The Form 15 stated that, as of the certification date, Aris’s Class A common stock had one holder of record and confirmed that, as previously disclosed, the company and its operating subsidiary had become wholly owned subsidiaries of Western Midstream Partners, LP through the series of mergers completed on October 15, 2025.

As a result of these corporate actions, Aris no longer trades as an independent public company under the ARIS ticker. Its business and assets, including its produced-water pipelines, handling and recycling capacity, and long-term water infrastructure contracts in the Permian Basin, are now part of Western Midstream’s broader midstream and produced-water operations. The ARIS symbol and associated filings therefore represent the historical record of Aris Water Solutions, Inc. prior to and through its acquisition by Western Midstream Partners, LP.