Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Select Water Solutions Acquires Haynesville and Rockies Assets
02/13/2024
- n January 2024, Select completed three key acquisitions in East Texas and the Rockies for about $90 million.
- Bought Tri-State Water Logistics, LLC's assets, a top saltwater disposal provider in Haynesville Shale.
- Acquired Iron Mountain Energy LLC's treatment and disposal operations, known for fluids and solids disposal in Haynesville Shale.
- Purchased water gathering and disposal infrastructure in the Rockies, including additional capacity for disposal and recycling.
Select Water Solutions, a leader in water and chemical services for the energy industry has bought key water assets in the Haynesville Shale and Rockies for $90 million. This deal adds 450,000 barrels per day of capacity with disposal wells and treatment facilities, boosting Select's operations.
"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."
- John Schmitz, Chairman of the Board, President and CEO
The company is incorporating Iron Mountain and Tri-State Water's operations into its existing 60-mile pipeline in Haynesville Shale. This will increase its capacity and extend its service area. New treatment facilities will also enhance Select's ability to manage waste, improving its services in Haynesville.
Tri-State Water Logistics Acquisition
Select acquired Tri-State Water Logistics' disposal assets in January 2024. This purchase enhances Select's disposal services in the Haynesville Shale, East Texas, adding 11 disposal wells and boosting capacity by 155,000 barrels per day. The deal includes permits for expanding capacity and a long-term agreement to support these facilities. These assets complement Select's existing network, improving efficiency in water transport and disposal.
Iron Mountain Energy Asset Purchase
In the same month, Select bought assets from Iron Mountain Energy, located in East Texas. This acquisition adds 159,000 barrels per day of disposal capacity through 11 wells and introduces a new solids treatment facility to Select's operations. It comes with long-term contracts and is expected to create additional revenue through improved operations and services, complementing the Tri-State acquisition.
Rockies Region Assets Acquisition
Select also expanded in the Rockies region with the purchase of disposal and recycling assets. This includes 20,000 barrels per day of active disposal capacity and potential for further expansion. Supported by long-term agreements, these assets allow for better networking of Select's recycling and infrastructure services, offering superior water management solutions in the Rockies.
About Select Water Solutions
Select Water Solutions, Inc. is a leading provider of water and chemical solutions aimed at the energy industry, with a strong focus on sustainability. The company leverages its extensive water infrastructure, chemical production, and water treatment and recycling technologies to support its operations. Select is committed to the safe and responsible management of water resources throughout the entire lifecycle of a well.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Occidental, CrownRock Merger Under Regulatory Review: 2024 Update
CrownRock's 94,000+ net acres acquisition complements Occidental's Midland Basin operations, valued at $12.0 billion. This expansion enhances Occidental's Midland Basin-scale and upgrades its Permian Basin portfolio with ready-to-develop, low-cost assets. The deal is set to add around 170 thousand barrels of oil equivalent per day in 2024, with high-margin, sustainable production.
Dallas-Based Sunoco Buys NuStar Energy for $7.3 Billion
Sunoco, a gas station company based in Dallas, will buy NuStar Energy, a major operator of liquid storage and pipelines, for $7.3 billion. The acquisition of NuStar Energy by Sunoco not only enlarges Sunoco's fuel distribution business but also moves it into the crude oil middle market, especially in the important Permian Basin area.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
Recently, the Permian has seen significant acquisitions: Exxon Mobil purchased Pioneer Natural Resources for about $60 billion. Diamondback Energy's $26 billion deal to acquire Endeavor Energy Resources is currently on hold due to requests from the U.S. Federal Trade Commission. Occidental’s acquisition of CrownRock for $12 billion in the Midland.
EOG Resources is pushing boundaries in Ohio's Utica oil play and now drilling on the Sable pad, also located in Noble County. This site features the 3.7-mile lateral currently under construction. The company's first multi-well pads in the area Timberwolf and Xavier have each produced over 200,000 barrels of oil since their inception—Timberwolf in August and Xavier in October. A third site, the four-well White Rhino pad in Noble County, is also showing promising early results, according to Keith Trasko, EOG’s Senior Vice President of Exploration and Production, who noted the wells are performing as expected in their initial weeks.