WTTR - Select Energy to buy Superior Energy's water unit in cash and stock deal

dgdimension/iStock via Getty Images Select Energy Services (WTTR) agrees to acquire Superior Energy Services' (SPNX) water solutions subsidiary for $14.2M in cash and 3.6M common shares. Select says the acquisition will expand its water-related services and infrastructure footprint across Oklahoma and Texas, with meaningful opportunity for future recycling development. "We will be adding more than 300K bbl/day of permitted daily disposal capacity in Oklahoma and Texas," the company says. "More importantly, this sizable existing disposal portfolio provides us with a significant footprint of recurring produced water volumes and meaningful optionality for incremental infrastructure development, including gathering and recycling infrastructure across larger networked systems." Select Energy reported weaker than expected Q1 earnings and revenues.

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Select Energy to buy Superior Energy's water unit in cash and stock deal