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Select Water Solutions (WTTR) investor relations material
Select Water Solutions 16th Annual Midwest Ideas Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.16th Annual Midwest Ideas Conference summary26 Aug, 2025
Strategic direction and business model
Transitioning from a service-based to a high-margin, contracted infrastructure business, now representing 50% of gross profit and expected to reach 60–70% as new projects mature within 12–24 months.
Focused on oil and gas water infrastructure, leveraging disruptive fixed recycling facilities integrated into gathering and disposal networks, with rapid expansion since 2018.
Over 90% of growth capex since 2022 allocated to Water Infrastructure, supporting contracted projects for energy, municipal, and industrial sectors.
Expanding into municipal and industrial water markets, leveraging expertise to source, store, and lease water on long-term contracts, with municipal contracts expected to be 30–50 years in length.
More than 20 strategic M&A transactions since 2021, focusing on infrastructure and divesting over $100 million in non-core assets since 2019.
Operational highlights and asset base
Infrastructure includes 3 million barrels/day recycling capacity, over 100 disposal wells, 1,000+ miles of pipeline, and 41+ million barrels of storage.
Dedicated and ROFR acreage exceeds 2.5 million acres, with nearly half signed in the last 12 months and rapid annual growth in contracted acreage.
Major expansions in the Northern Delaware, Haynesville, DJ Basin, and Rockies, including 185+ miles of large-diameter pipelines and $160 million in new capital projects.
Technology suite includes real-time monitoring, automation, and remote operations, enhancing efficiency and risk mitigation.
Service and chemical segments continue to generate high free cash flow, funding infrastructure buildout.
Financial performance and outlook
Q2 2025 revenue was $364 million, with Adjusted EBITDA of $72.6 million, up 13% quarter-over-quarter.
Infrastructure segment achieved 55.6% gross margin last quarter, with expectations for continued high free cash flow conversion as growth investments mature.
Capital is only deployed against secured contracts, ensuring disciplined investment and strong contract backlog.
Over $198 million returned to shareholders since 2018 through dividends and share repurchases.
Strong balance sheet with $224.5 million net debt and 0.8x net debt/TTM Adjusted EBITDA as of June 30, 2025.
How does beneficial reuse compare to disposal costs?
What is the municipal water leasing model?
Impact of completion slowdown on infrastructure?
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Next Select Water Solutions earnings date
Q3 20255 Nov, 2025
Next Select Water Solutions earnings date
Q3 20255 Nov, 2025
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Frequently asked questions
Select Water Solutions Inc. provides water management solutions to the oil and gas industry. The company offers services including water sourcing, treatment, recycling, and disposal, as well as the delivery of related chemical products. Select Water Solutions supports hydraulic fracturing and production activities with environmentally focused and cost-effective water management strategies. The company is headquartered in Houston, Texas, and its shares are listed on the NYSE.
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