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![Select-Water-Solutions-Acquires-Haynesville-and-Rockies-Assets](https://images2.rextag.com/public/blog/231(blog)_Select Water Solutions Bolts On Haynesville, Rockies Assets for $90MM.png)
- 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
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/R 228 (Blog)- Occidental, CrownRock Merger Under Regulatory Review_ 2024 Update.png)
CrownRock's 94,000+ net acres acquisition complements Occidental's Midland Basin operations, valued at $12.0 billion. This expansion enhances Occidental's Midland Basin-scale and upgrades its Permian Basin portfolio with ready-to-develop, low-cost assets. The deal is set to add around 170 thousand barrels of oil equivalent per day in 2024, with high-margin, sustainable production.
Hess Corp. Increases Drilling Activity Before Chevron Takeover
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/232Blog_Hess Corp. Increases Bakken Production Before Chevron Deal.png)
Hess Corp. is in the final stages of a major sale to Chevron, with increased drilling and production in the Bakken region noted in the last quarter. Hess announced its fourth-quarter net production in the Bakken reached 194,000 barrels of oil equivalent per day (boe/d), a slight increase from the third quarter's 190,000 boe/d and a significant 23% rise from the 158,000 boe/d seen in the fourth quarter of the previous year. This growth is attributed to more drilling and the impact of the previous year's severe winter weather.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/297_Blog_Keystone XL Pipeline Controversy and Wildlife Disaster From Trump's Green Light to Biden's Red Light on the 15 Billion Project.jpg)
The pipeline industry in the USA faced and still faces a range of regulatory challenges, including permitting delays, environmental requirements, and public opposition to pipeline projects. In recent years, pipeline projects like the Keystone XL and Dakota Access pipelines had legal and regulatory obstacles that delayed or canceled their construction. Keystone XL Pipeline, proposed by TransCanada in 2008, aimed to transport crude oil from Canada (around Calgary and Edmonton) to refineries on the Gulf Coast (Port Arthur). The project faced opposition from environmental groups and indigenous communities, who argued that it would contribute to climate change and pose a risk to water resources. In 2015, President Obama rejected the project, citing concerns about its environmental impact. However, in 2017, President Trump revived the project, leading to further legal challenges. In June 2021, U.S. President Joe Biden officially canceled the project on his first day in office.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/282_Blog_Renewable Natural Gas How RNG Changes the Industry.jpg)
The renewable natural gas (RNG) industry in the United States is showing promising signs of growth. As of 2019, the U.S. consumed 261 billion cubic feet (BCF) of RNG, primarily utilized by independent power producers, electric utilities, and various commercial and industrial entities. However, this figure represents only a small fraction of its potential. Research indicates that the U.S. could theoretically produce up to 2,200 BCF of RNG through anaerobic digestion alone, which would equate to about 11% of daily national natural gas consumption.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/295_Blog_Renewable Efforts Lag as Global Oil and Gas Demand Continues to Rise.jpg)
Recently, the progress toward an energy transition is hitting a snag. Sales of electric vehicles are decelerating, and the growth in wind and solar power needs to be keeping pace with expectations. To make matters more challenging, electricity prices are climbing when they were expected to fall. Amidst these setbacks, the oil and gas sectors are proving resilient. According to BP's latest energy outlook, not only are these energy mainstays here to stay, but their demand is expected to remain relatively high even after reaching a peak. Interestingly, BP forecasts that oil demand will reach its zenith next year, marking a critical moment in energy consumption trends. This isn't the first time BP has projected a peak in oil demand. Back in 2019, their review anticipated a decline in demand growth, but the prediction fell flat. Instead, oil demand surged to unprecedented levels following the end of the global pandemic lockdowns, defying previous forecasts and underscoring the enduring dominance of traditional energy sources in the global market.