Select Water Solutions, Inc., trading under the ticker WTTR, is a leading provider of sustainable water-management solutions to the energy industry in the United States. The company focuses on the safe and environmentally responsible management of oilfield water throughout the lifecycle of a well. It offers solutions that enable exploration and production customers to gather, treat, and reuse produced water, reducing the demand for freshwater and the volumes of saltwater that must be disposed of by injection.
- Water Services - Provides comprehensive water-related services, including water sourcing, transfer, fluids hauling, monitoring, containment, and network automation.
- Water Infrastructure - Offers fixed infrastructure assets such as water distribution pipeline infrastructure, water recycling facilities, produced water gathering pipelines, saltwater disposal wells, and solids management facilities.
- Chemical Technologies - Provides technical solutions, products, and expertise related to chemical applications in the oil and gas industry, including FluidMatch™ design solutions for water profiling and fluid assessment.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John D. Schmitz ExecutiveBoard | Chairman of the Board, President, and Chief Executive Officer | John D. Schmitz is the Chairman of the Board, President, and Chief Executive Officer of Select Water Solutions, Inc. since January 2020 and January 2021 respectively, having previously served as Executive Chairman from November 2017 until December 2019 and as CEO and Chairman prior to the Rockwater Merger in November 2016. | View Report → | |
Christina M. Ibrahim Executive | Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary | Christina M. Ibrahim has been serving as Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary at WTTR since May 2023. Previously, she held executive legal and compliance roles at Avalon Advisors, LLC and Weatherford International Plc. | ||
Christopher K. George Executive | Executive Vice President and Chief Financial Officer | Christopher K. George has been the Executive Vice President and Chief Financial Officer at WTTR since March 4, 2024, and previously served as Senior Vice President, Corporate Development, Investor Relations & Sustainability (January 2022 - March 2024) and as Treasurer (May 2018 - March 2022). | ||
Cody J. Ortowski Executive | Executive Vice President, Business and Regulatory Affairs | Cody J. Ortowski has served as Executive Vice President, Business and Regulatory Affairs at WTTR since November 2017 following the Rockwater Merger. Previously, he served as President of the company from its incorporation in November 2016 and has held several key roles in the energy services industry. | ||
Michael C. Skarke Executive | Executive Vice President and Chief Operating Officer | Michael C. Skarke is the Executive Vice President and Chief Operating Officer at WTTR since April 2021, overseeing the company's operations. He previously held leadership roles such as Executive Vice President of Corporate Development, Sales, and Operational Support and contributed significantly during the Rockwater Merger. | ||
Michael J. Lyons Executive | Executive Vice President, Chief Strategy & Technology Officer | Michael J. Lyons has served as Executive Vice President, Chief Strategy & Technology Officer at WTTR since August 2023. He brings over 20 years of energy industry experience, including a significant tenure at BCG Houston. | ||
Bruce E. Cope Board | Independent Director | Bruce E. Cope serves as an Independent Director and member of the Board of Directors at Select Water Solutions, Inc. (WTTR) since January 2025. Previously, he built an extensive career in financial management in the oil and gas industries. | ||
Douglas J. Wall Board | Board Member | Douglas J. Wall has served on the board of Select Water Solutions, rejoining in November 2016 and previously served on the board of SES Holdings from January 2012 to December 2014. He also has extensive senior leadership experience in the energy industry, including roles such as CEO and COO at previous companies. | ||
Gayle L. Burleson Board | Independent Director | Gayle L. Burleson is an Independent Director and Chair of the Compensation Committee at WTTR since June 2021. She brings over 30 years of experience in the oil and gas industry, having served in senior leadership roles at Concho Resources, Inc. | ||
Luis Fernandez-Moreno Board | Member of the Board of Directors | Interim President and CEO of Ingevity Corporation; Sole Manager of Strat and Praxis, LLC; Director of Huber Engineered Materials; Director of Hasa, Inc. | Luis Fernandez-Moreno has extensive executive experience in the chemical and water industries and has served as a board member at WTTR since May 2022. He is currently Interim President and CEO at Ingevity Corporation since October 2024. | |
Richard A. Burnett Board | Lead Independent Director | President and Chief Executive Officer of Silver Creek Exploration III, LLC | Richard A. Burnett has served as Lead Independent Director and Chair of the Audit Committee at WTTR since November 2016. He is also the President and Chief Executive Officer of Silver Creek Exploration III, LLC since November 2019. | |
Robin H. Fielder Board | Independent Director | Board Director, Greater Houston March of Dimes; Executive Council Member, KBH Energy Center at the McCombs School of Business | Robin H. Fielder serves as an Independent Director at WTTR since November 2022, and she contributes her extensive energy and sustainability expertise gained from previous roles at Talos Energy, Noble Midstream Partners LP, and Anadarko Petroleum. She participates on key committees, including the Audit and Nominating, Governance, and Sustainability Committees. | |
Timothy A. Roberts Board | Director | CEO and Partner of Iron Horse Midstream, LLC | Timothy A. Roberts serves as an Independent Director for WTTR since January 2025. He has over 20 years of experience in the oil and gas industry and currently serves as CEO and Partner of Iron Horse Midstream, LLC since May 2017. |
- Given the significant capital deployment required for water infrastructure growth and the recent $225-$250 million capex guidance for 2025, how does management plan to mitigate risks from potential cost overruns or project delays that could pressure overall margins and growth targets?
- Following the Omni asset swap and divestiture of certain trucking operations, can you detail how these moves have quantitatively impacted consolidated margins and reduced your operational risk profile in the short term?
- With the formal carve-out and potential separation of Peak Rentals, what specific strategic and financial safeguards are in place to ensure that the new capital structure does not distract from or delay your core water infrastructure projects?
- Considering the sequential revenue declines in your water services and chemicals segments, what steps will management take to stabilize these businesses’ earnings and protect free cash flow, especially if macroeconomic challenges intensify?
- As you continue to grow the North Delaware Basin network through both dedicated and undedicated acreages, how will management balance the integration of conveyed customer assets with new infrastructure investments to maintain capital efficiency and long-term profitability?
Research analysts who have asked questions during Select Water Solutions Inc earnings calls.
Jeffrey Robertson
Water Tower Research
4 questions for WTTR
Robert Brooks
Northland Capital Markets
3 questions for WTTR
Donald Crist
Johnson Rice & Company L.L.C.
2 questions for WTTR
James Rollyson
Raymond James & Associates, Inc.
2 questions for WTTR
Blake McLean
Daniel Energy Partners
1 question for WTTR
Bobby Brooks
Northland Capital Markets
1 question for WTTR
Derek Podhaizer
Piper Sandler & Co.
1 question for WTTR
Don Crist
Johnson Rice & Company L.L.C.
1 question for WTTR
Jim Rollyson
Raymond James Financial
1 question for WTTR
John Daniel
Daniel Energy Partners
1 question for WTTR
Joshua Jayne
Daniel Energy Partners
1 question for WTTR
Robert Brooks
Northland Capital Markets
1 question for WTTR
Thomas Patrick Curran
Seaport Research Partners
1 question for WTTR
Thomas Patrick Curran
Seaport Research Partners
1 question for WTTR
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Omni Environmental Solutions | 2025 | Deal value included $17.7 million in cash (comprising $7.5 million base and $10.2 million for net working capital) and 862,069 shares, acquiring key assets such as a solids waste landfill (3.2 million cubic yards capacity), a processing/recovery facility, a SWD with 12,000 barrels/day capacity, and an oil storage tank farm; this acquisition enhances the Water Infrastructure segment and reduces operational risk. |
Four Smaller Asset Acquisitions | 2025 | Cash consideration of $14,580,000 was paid to acquire assets and associated liabilities in the Permian Basin with a purchase price allocation of $16.9 million in property and equipment and $2.3 million in liabilities, supporting strategic growth in the Water Infrastructure segment. |
One Smaller Asset Acquisition | 2025 | Completed on April 1, 2025 with a cash consideration of $1,725,000, this acquisition in the Water Services segment added targeted assets to the company’s portfolio. |
Tri-State Water Logistics, LLC | 2024 | Deal value of approximately $58.3 million (cash plus capital expenditure reimbursement) was used to acquire 11 active saltwater disposal wells and significant permitted disposal capacity, which strengthens fluids and solids treatment operations in the Haynesville region. |
Iron Mountain Energy, LLC | 2024 | Total consideration of around $14 million in cash secured 11 saltwater disposal wells, one slurry injection well, and a new solids separation facility with 159,000 barrels per day capacity, bolstering selective waste management capabilities and integration into the Water Infrastructure segment in the Haynesville region. |
Rockies Produced Water Gathering and Disposal Infrastructure | 2024 | Deal valued at approximately $18.1 million in cash acquired 20,000 barrels/day of active disposal capacity along with an additional 40,000 barrels/day of permitted capacity and strategic surface rights—enhancing water disposal and recycling capabilities in the Rockies region. |
Buckhorn Waste Services, LLC and Buckhorn Disposal, LLC | 2024 | Total cash consideration of $18.8 million (initially $17.9 million plus a $0.9 million adjustment) was paid for dual landfill facilities in the Bakken region, including a TENORM disposal site and a Class I permit, thereby diversifying and strengthening the company’s solids waste management portfolio. |
Trinity Environmental Services | 2024 | Acquired for $29.4 million in cash on April 1, 2024, this deal brought in disposal assets including 22 saltwater disposal wells in the Permian Basin, along with pipeline infrastructure and additional wells in the Gulf Coast and Midcon regions, strategically expanding the company’s Permian operations. |
Bobcat SWIW Holdings, LLC | 2024 | Consideration of $8.1 million in cash was paid on April 18, 2024, acquiring assets that bolster disposal operations and comprehensive produced water solutions in the Marcellus/Utica region; the acquisition was accounted for as a business combination with detailed fair value allocations. |
Breakwater Acquisition | 2023 | Stock-for-stock transaction valued at $105.3 million included shares (9,181,144 shares of Class A common stock), debt payoff, change‑of‑control payments, and seller transaction costs, and brought in four commercial recycling facilities with a combined capacity of 600,000 barrels/day, significantly expanding recycling and water services in the Permian Basin. |
Cypress Acquisition | 2023 | Acquisition valued at $9.2 million involved issuing 952,753 shares of Class A common stock in exchange for acquiring eight saltwater disposal facilities in North Dakota with a combined daily permitted capacity of 85,000 barrels, thereby strengthening the Water Infrastructure footprint in the Bakken region. |
Nuverra Environmental Solutions, Inc. | 2022 | All‑stock transaction valued at $35.9 million (with approximately 4.2 million shares issued) accompanied by the repayment of $18.8 million in debt, acquiring water logistics assets including a 60‑mile underground twin pipeline network and a landfill facility; the deal expanded geographic and operational capabilities while resulting in a bargain purchase gain. |
Recent press releases and 8-K filings for WTTR.
- Select Water Solutions reported strong financial results for Q2 2025, with net income increasing by 22.1% and adjusted EBITDA improving by 13.4% sequentially compared to Q1 2025. The company generated $82.6 million in operating cash flow and $10.8 million in free cash flow during the quarter.
- The company completed an asset swap transaction with OMNI Environmental Solutions in July 2025, acquiring infrastructure assets in the Bakken region while divesting certain trucking operations to expand its Water Infrastructure segment.
- Select Water Solutions is also evaluating strategic alternatives for its Peak Rentals business, a power solutions and equipment rentals unit within the Water Services segment, to accelerate growth and optimize its portfolio.
- The Water Infrastructure segment showed significant growth, with revenue and gross profit increasing by 12% and 17% respectively in Q2 2025 sequentially. This segment is projected to achieve 10% sequential growth in Q4 2025 and 20% year-over-year growth in 2026.
- Despite strong Water Infrastructure performance, consolidated Adjusted EBITDA is expected to decline sequentially to an estimated $55 \u2013 $60 million in Q3 2025, primarily due to reduced activity levels in the Water Services segment and the OMNI divestments.
- Select Water Solutions (WTTR) is a water infrastructure company primarily serving the oil and gas business, with a recent expansion into the municipal and industrial sectors. The company operates through three segments: water infrastructure, water services, and chemical technologies.
- The company is a leader in water recycling, particularly in the Permian Basin, and holds a substantial 21 million barrels of water storage capacity. It focuses on long-term contracts, with an average duration of 10.1 years across its portfolio.
- Financially, Select Water Solutions maintains a strong balance sheet with conservative debt, converting 70% to 80% of earnings to cash from its services business to fund infrastructure growth. The company is a dividend payer, having raised its dividend by 17% last year, and has bought back approximately $200,000,000 worth of stock.
- A key growth area is the municipal and industrial water space, exemplified by a $62,000,000 investment in South of Denver, Colorado, for 16,600 acre-feet of fresh water rights. This project has a potential total committed capital of $260,000,000 and is expected to generate $40,000,000 to $60,000,000 in earnings power, with contracts potentially lasting 30 to 50 years. The company anticipates signing a contract for this project within the next 24 to 36 months.