Select Energy Services Inc., a leading provider of sustainable water and chemical solutions to the U.S. unconventional oil and gas industry, recently announced that, effective October 1, 2021, it has successfully acquired all of the assets of Agua Libre Midstream and certain water-related assets and operations of Basic Energy Services.
Based in Fort Worth, Texas, Agua Libre is a leading provider of water midstream, logistics and production services to the oil and gas industry, including operations in Texas, New Mexico, Oklahoma and North Dakota.
John Schmitz, chairman, president and CEO, said, "We are very excited to execute on another accretive consolidation opportunity for Select. This acquisition significantly expands our produced water infrastructure footprint and further increases the Company's revenue weighting towards production-related services and solutions. This acquisition is a continuation of our strategic effort to improve and bolster our base business, advance our technology and diversification efforts, and execute on strategic consolidation opportunities.
"With this transaction, we will be adding more than 550,000 barrels per day of permitted daily disposal capacity in in Texas, New Mexico, Oklahoma and North Dakota, with approximately 50% of this capacity in the Permian Basin. When combined with our existing assets, this brings our company-wide permitted daily disposal capacity to approximately 2 million barrels per day.
Select Energy Services Inc. is a leading provider of sustainable water and chemical solutions to the oil and gas industry. Select develops, manufactures and delivers a full suite of chemical products for use in oil and gas well completion and production operations as well as integration into the full water life-cycle. These solutions are supported by the company's critical water infrastructure assets and water treatment and recycling capabilities.