During January 2024, Select closed on three strategic infrastructure acquisitions across East Texas and the Rockies region for approximately $90 million of aggregate cash consideration

Acquired the gathering and disposal assets and operations of Tri-State Water Logistics, LLC, a leading provider of saltwater disposal solutions in the Haynesville Shale

Acquired fluids and solids treatment and disposal assets and operations of Iron Mountain Energy LLC, which is a leading provider of fluids and solids disposal solutions in the Haynesville Shale

Acquired produced water gathering and disposal infrastructure and additional permitted disposal and recycling capacity in the Rockies region 

HOUSTON, Jan. 30, 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 the acquisition of strategic water infrastructure assets in the Haynesville Shale and Rockies regions for approximately $90 million of aggregate cash consideration. These acquisitions will add approximately 450,000 barrels per day of permitted disposal capacity to Select's Water Infrastructure segment across 21 active saltwater disposal wells, two slurry injection wells, a solids treatment facility and a number of approved permits for additional recycling and disposal facility development. The active disposal operations are supported by a significant portfolio of interconnected gathering pipelines, strategic surface acreage and right-of-way, and multiple long-term pipeline gathering and dedication contracts.

John Schmitz, Chairman of the Board, President and CEO, stated, "Select is the leader in delivering full life cycle water solutions to meet the growing need for long-term produced water management in the energy industry, and our recent acquisitions strengthen this position. The three acquisitions will bring additional contracted revenue and earnings power to our Water Infrastructure segment and strategically complement our existing water infrastructure networks in the Haynesville Shale and Rockies regions. With the additions of Iron Mountain and Tri-State Water's disposal operations, we have a tremendous opportunity to efficiently integrate these assets into our existing 60-plus mile gathering pipeline system in the Haynesville Shale, expanding our overall water handling capacity and extending the geographic footprint of the network. Furthermore, the addition of the slurry and solids treatment facilities expands the scope of Select's capabilities in the region, broadening our full life-cycle waste stream management capabilities for our customers and adding incremental value across our proforma position in the Haynesville.

"In the Rockies, our latest addition provides long-term contracted produced water streams and disposal solutions, with approximately 85% of the volumes received in 2023 covered under long-term contracts. When coupled with our current recycling capabilities in the Rockies, the additional permitted recycling capacity from this acquisition will enhance our ability to provide expanded comprehensive produced water management solutions to our customers. Not only do these acquisitions fit our near-term strategy to grow and expand our production-based and contracted revenues within our Water Infrastructure segment, but they provide further development potential for two of our critical regional infrastructure networks. Expanding and further integrating these recycling, disposal and pipeline networks provides financial and environmental benefits to our customer and the communities where we operate. Just as importantly, these acquisitions create immediate shareholder value as they are financially accretive on a per share basis for both free cash flow and net income. We look forward to providing additional visibility and forward-looking statements around the transactions on our upcoming earnings call," concluded Mr. Schmitz.

Acquisition of Disposal Assets of Tri-State Water Logistics, LLC and affiliates

During January 2024, Select completed the acquisition of the disposal assets and operations of Tri-State Water Logistics, LLC ("Tri-State Water"), and affiliates (collectively, "Tri-State") for cash consideration, plus the capital expenditure reimbursement for certain ongoing business development projects. The acquisition of Tri-State Water further bolsters Select's position as the leading disposal provider in the Haynesville Shale, with a sizable portfolio of assets located in East Texas near the Louisiana border. Tri-State Water's disposal portfolio adds 11 active SWDs, including one slurry injection facility, and approximately 155,000 barrels per day of active permitted disposal capacity. These facilities are supported by multiple long-term operator pipeline agreements. An additional five approved permits with 75,000 barrels per day of permitted capacity were included in the transaction. As part of the transaction, Tri-State will retain its water hauling and logistics business and we have entered into a long-term services coordination agreement with Tri-State to continue to support volume throughput at the acquired facilities. Additionally, the Tri-State Water SWDs are strategically positioned near Select's existing Haynesville gathering pipeline system and SWDs, providing the ability to increase the volume of produced water transported via pipeline from Louisiana for disposal in Select's East Texas disposal wells.

Acquisition of the SWD Assets of Iron Mountain Energy LLC

In January 2024, Select completed the acquisition of substantially all of the assets and operations of Iron Mountain Energy LLC ("Iron Mountain"), including fluid and solids waste disposal and solids treatment assets, for cash consideration. The acquisition of Iron Mountain, located in East Texas near the Louisiana border, further bolsters Select's position as the leading disposal provider in the Haynesville Shale. The addition of the Iron Mountain's disposal portfolio adds 159,000 barrels per day of active disposal capacity from 11 saltwater disposal wells and one slurry injection well across 8 facility locations. The acquisition also includes a recently completed solids separation facility that commenced operations during 2023, further enhancing Select's solids management operations. The acquired Iron Mountain wells come with several long-term operator pipeline agreements, and we expect revenue and cost synergies across this portfolio of wells through our existing basin leading position, relationships, and expanded integrated operations with the Tri-State Water acquisition and services coordination agreement.

Acquisition of Disposal Facilities and Recycling Capacity in the Rockies Region

During January 2024, Select completed the acquisition of certain water disposal assets and operations in the Rockies region for cash consideration. The assets include 20,000 barrels per day of active disposal capacity, 40,000 barrels per day of additional permitted disposal and recycling capacity, and strategic surface acreage and right-of-way. The assets are supported by multiple long-term pipeline agreements with an average of 12 years remaining under contract. These additions provide opportunity to network our existing water recycling and other infrastructure assets as well as develop additional disposal and recycling facilities to support our customers with enhanced sustainable water management solutions in the region.

Earnings & Conference Call Schedule

Select will release 2023 fourth quarter and full year 2023 financial results on Tuesday, February 20, 2024 after the market closes. In conjunction with the release, Select has scheduled a conference call on Wednesday, February 21, 2024 at 11:00 a.m. Eastern time / 10:00 a.m. Central time.  Please dial 201-389-0872 and ask for the Select Water Solutions call at least 10 minutes prior to the start time of the call, or listen to the call live over the Internet by logging on to the website at the address  A telephonic replay of the conference call will be available through March 6, 2024 and may be accessed by calling 201-612-7415 using passcode 13743873#.  A webcast archive will also be available at the link above shortly after the call and will be accessible for approximately 90 days. 

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,

Cautionary Statement Regarding Forward-Looking Statements

All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "could," "believe," "anticipate," "expect," "intend," "project," "will," "estimates," "preliminary," "forecast" and other similar expressions. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include the risks that the benefits contemplated from our recent acquisitions may not be realized, the ability of Select to successfully integrate the acquired businesses' operations, including employees, and realize anticipated synergies and cost savings and the potential impact of the consummation of the acquisitions on relationships, including with employees, suppliers, customers, competitors and creditors. Factors that could materially impact such forward-looking statements include, but are not limited to: the global macroeconomic uncertainty related to the Russia-Ukraine war and related economic sanctions; the conflict in the Israel-Gaza region and continued hostilities in the Middle East; actions by the members of OPEC+ with respect to oil production levels and announcements of potential changes in such levels, including the ability of the OPEC+ countries to agree on and comply with supply limitations, which may be exacerbated by the recent Middle East conflict; actions taken by the Biden Administration or state governments, such as executive orders or new or expanded regulations, that may negatively impact the future production of oil and natural gas in the U.S. or our customers' access to federal and state lands for oil and gas development operations, thereby reducing demand for our services in the affected areas; the severity and duration of world health events, including the COVID-19 pandemic and associated repercussions, and any resulting impact on commodity prices and supply and demand considerations; the impact of current and future laws, rulings and governmental regulations, including those related to hydraulic fracturing, accessing water, disposing of wastewater, transferring produced water, interstate freshwater transfer, chemicals, carbon pricing, pipeline construction, taxation or emissions, leasing, permitting or drilling on federal lands and various other environmental matters; regulatory and related policy actions intended by federal, state and/or local governments to reduce fossil fuel use and associated carbon emissions, or to drive the substitution of renewable forms of energy for oil and gas, may over time reduce demand for oil and gas and therefore the demand for our services, including as a result of the Inflation Reduction Act of 2022 ("IRA 2022") or otherwise; growing demand for electric vehicles that may result in reduced demand for refined products deriving from crude oil such as gasoline and diesel fuel, and therefore the demand for our services; the impact of advances or changes in well-completion technologies or practices that result in reduced demand for our services, either on a volumetric or time basis; and other factors discussed or referenced in the "Risk Factors" section of our most recent Annual Report on Form 10-K and those set forth from time to time in our other filings with the SEC. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.



Select Water Solutions

Chris George – Senior Vice President, Corporate

Development, Investor Relations & Sustainability

(713) 296-1073

Dennard Lascar Investor Relations

Ken Dennard / Natalie Hairston

(713) 529-6600


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SOURCE Select Water Solutions, Inc.

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