Select Water Solutions agreed on 24 September to acquire Pilot Water Solutions, a Delaware Basin water-midstream company, for $700m in cash and shares, plus a possible $15m earnout.
Market context
Pilot brings about 2.7 million barrels a day of active disposal capacity and more than 80% of revenue under long-term contracts. Produced-water handling has become a consolidation theme in the Permian as volumes rise and operators outsource infrastructure; the deal needs Hart-Scott-Rodino clearance.
