WTTR - Select Energy sees Q4 revenues easily topping Q3 on improved activity

Select Energy Services (WTTR) +7.4% post-market after announcing the start of two new produced water recycling facility projects in the Permian Basin and a $3M investment in frac fluid tracking and imaging technology company Deep Imaging Technologies.Select Energy says the investments will bring its total centralized produced water recycling capacity in the Permian Basin to ~250K bbl/day of water.Select sees Q4 revenues coming in at $130M-$135M, vs. $101.2M in Q3, with an estimated net loss of $19M-$23M, compared to a $36.3M net loss in Q3.The company also expects improvements in revenues and gross margin across each of its three operating segments, supported by stronger than anticipated activity levels over the course of Q4.

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Select Energy sees Q4 revenues easily topping Q3 on improved activity