Select Water Solutions Announces Release of 2024 Sustainability Report

In 2024, Select treated or recycled 20.0 billion gallons of water, a 9% increase from 2023 while also increasing our environmentally-responsible disposal volumes by 41% from 2023, reflecting our continued progress in expanding our Water Infrastructure segment Select meaningfully exceeded the annual water recycling and employee safety targets embedded in the Company's sustainability-linked credit facility for 2024 by 324% and 49%, respectively Select's focus on reducing greenhouse gas ("GHG") emissions resulted in a 8% year-over-year reduction in combined Scope 1 and Scope 2 emissions during 2024 , /PRNewswire/ -- Select Water Solutions (NYSE: WTTR), a leading provider of sustainable water management and chemical solutions, proudly announces the publication of its 2024 Sustainability Report. This report underscores Select's unwavering commitment to environmental stewardship, operational excellence, and innovative practices that drive sustainable growth in the energy sector. John Schmitz, Chairman of the Board, President and CEO, stated, "At Select, sustainability is at the core of what we do, and 2024 marked a year of strong growth and milestones for our business. We significantly expanded our recycling operations and infrastructure asset portfolio in 2024 and signed multiple long-term contracts for the development of additional facilities over the course of 2025 and 2026. Additionally, we continued to make strong progress on our beneficial reuse solutions throughout the year, completing several pilot projects and commencing larger scale reuse pilots to further our efforts to commercially repurpose produced water and reduce the energy industry's environmental footprint. "As we reflect on Select's 2024 achievements, and how these relate to sustainability and environmental performance, we are very encouraged by the progress we continue to make and we are on pace to further advance our stated goals and sustainability endeavors during 2025. We meaningfully exceeded the produced water recycling and safety performance targets associated with our prior sustainability-linked credit facility in 2024, thereby continuing to benefit from an improved cost of capital with our strategic financing partners. Importantly, we have reset the bar for these targets much higher in our new sustainability-linked credit facility, which closed in January 2025, as we continue to prioritize sustainability and safety in our everyday operations. We remain committed to setting the benchmark in sustainable water management solutions, optimizing operations to exceed environmental standards and reinforce our industry leadership. We would like to express great gratitude to our talented and dedicated employees for their relentless commitment to safe and sustainable operations, and to our shareholders and other community stakeholders for their ongoing support," concluded Mr. Schmitz. Select's 2024 Sustainability Report outlines the policies, processes, procedures, and performance by which Select Water Solutions sets and advances its environmental, social, and governance objectives. The report highlights the Company's dedication to environmental stewardship and its efforts to foster sustainable development within the communities where it operates. Highlights of Select's 2024 sustainability report include: Select reduced total scope 1 & 2 emissions by 8% from last year's performance, supported by continued investment in pipeline infrastructure, fleet replacements, Tier-4 upgrades, and other efforts to further reduce emissions. Select treated or recycled 477 million barrels (20 billion gallons) of produced water across its operations during 2024, a 9% year-over-year increase. Select increased recycled water volumes as a percentage of total water volumes sold by 20% during 2024, thereby reducing the consumption of freshwater resources. Select increased environmentally-responsible wastewater disposal volumes by 41% in 2024. Select meaningfully surpassed the annual threshold and target levels for both TRIR (49% outperformance) and recycled produced water via fixed facilities (324% outperformance) as outlined in Select's prior sustainability-linked credit facility. Select achieved a lost time incident rate and total recordable incident rate ("TRIR") of 0.25 and 0.54 respectively. In conjunction with its new sustainability-linked credit facility, Select reevaluated and increased its sustainability-linked goals to display further dedication to environmental stewardship. Established a 14% target increase in our recycled produced water volumes at our fixed facilities during 2025, further increasing by 17.5% annually until reaching a 403 million barrel per year target in 2029. Additionally, our TRIR target reduces by approximately 1.5% each year, requiring Select to outperform the industry average TRIR by 35% by 2029. Select reduced spill incidents across the board, decreasing chemical spill incidents by 60% and water spills by 18% since 2023. Deployed more than 200 miles of the Company's proprietary TideLine™ lay-flat water transfer hose in order to enhance fluid transfer efficiency, reduce environmental impacts, and decrease operational risks, particularly when transporting produced or treated produced water. Efforts to reduce GHG emissions resulted in a 33 thousand metric ton reduction in Scope 1 emissions, while limiting the increase in Scope 2 emissions to 9 thousand metric tons. This increase in Scope 2 emissions is attributed to the Company's ongoing growth and efforts to electrify operations associated with its additional water infrastructure buildout. The 2024 Sustainability Report reviews the application of Select's business principles and supporting policies across its operations. It includes comprehensive discussions with internal and external stakeholders, supplemented by consultations with third-party experts. This report follows the Sustainability Accounting Standards Board (SASB), Sustainable Industry Classification System (SICS) for the Oil & Gas Services, Water Utilities, and Chemicals industries, and the Global Reporting Initiative (GRI) standards. Select is committed to regularly reporting on our ESG policies, procedures, and performance through our website and annual Sustainability Report. Readers are encouraged to view the complete Sustainability Report at https://www.selectwater.com/sustainability/. About Select Water Solutions, Inc. Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success. For more information, please visit Select's website, https://www.selectwater.com. Cautionary Statement Regarding Forward-Looking Statements All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "could," "believe," "anticipate," "expect," "intend," "project," "will," "estimates," "preliminary," "forecast" and other similar expressions. Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth, projected financial results and future financial and operational performance, expected capital expenditures, our share repurchase program and future dividends. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include the risks that the benefits contemplated from our recent acquisitions may not be realized, the ability of Select to successfully integrate the acquired businesses' operations, including employees, and realize anticipated synergies and cost savings and the potential impact of the consummation of the acquisitions on relationships, including with employees, suppliers, customers, competitors and creditors. Factors that could materially impact such forward-looking statements include, but are not limited to: the global macroeconomic uncertainty related to the Russia-Ukraine war and related economic sanctions; the conflict in the Israel-Gaza region and related hostilities in the Middle East, including heightened tensions with Iran; the ability to source certain raw materials and other critical components or manufactured products globally on a timely basis from economically advantaged sources, including any delays and/or supply chain disruptions due to increased hostilities in the Middle East; actions by the members of the Organization of the Petroleum Exporting Countries ("OPEC") and Russia (together with OPEC and other allied producing countries, "OPEC+") with respect to oil production levels and announcements of potential changes in such levels, including the ability of the OPEC+ countries to agree on and comply with supply limitations, which may be exacerbated by the recent Middle East conflicts; the severity and duration of world health events, and any resulting impact on commodity prices and supply and demand considerations; the impact of central bank policy actions, such as sustained, elevated interest rates in response to, among other things, high rates of inflation, and disruptions in the bank and capital markets; the degree to which consolidation among our customers may affect spending on U.S. drilling and completions activity; changing U.S. and foreign trade policies, including increased trade restrictions or tariffs, the impact of changes in diplomatic and trade relations, and the results of countermeasures and any tariff mitigation initiatives; the level of capital spending and access to capital markets by oil and gas companies, trends and volatility in oil and gas prices, and our ability to manage through such volatility; the impact of current and future laws, rulings and governmental regulations, including those related to hydraulic fracturing, accessing water, disposing of wastewater, transferring produced water, interstate freshwater transfer, chemicals, carbon pricing, pipeline construction, taxation or emissions, leasing, permitting or drilling on federal lands and various other environmental matters; the impact of regulatory and related policy actions by federal, state and/or local governments, such as the Inflation Reduction Act of 2022, that may negatively impact the future production of oil and gas in the U.S., thereby reducing demand for our services; the impact of advances or changes in well-completion technologies or practices that result in reduced demand for our services, either on a volumetric or time basis; changes in global political or economic conditions, generally, and in the markets we serve, including the rate of inflation and potential economic recession; and other factors discussed or referenced in the "Risk Factors" section of our most recent Annual Report on Form 10-K and those set forth from time to time in our other filings with the SEC. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law. Contacts: Select Water Solutions Garrett Williams – VP, Corporate Finance & Investor Relations (713) 296-1010 [email protected] Dennard Lascar Investor Relations Ken Dennard / Natalie Hairston (713) 529-6600 [email protected] SOURCE Select Water Solutions, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Select Water Solutions Announces Release of 2024 Sustainability Report

FAQ

Why Bullish?

How important is it?

Why Long Term?

Related Companies

Related News