Deal description: Select Water Solutions, Inc. (NYSE: WTTR) ("Select" or the "Company"), a leading provider of sustainable water and chemical solutions to the energy industry, announced that it completed the acquisition of the disposal assets and operations of Tri-State Water Logistics, LLC ("Tri-State Water"), and affiliates (collectively, "Tri-State") for cash consideration, plus the capital expenditure reimbursement for certain ongoing business development projects.

Tri-State Water's disposal portfolio adds 11 active saltwater disposal solutions (“SWDs”), including one slurry injection facility, and approximately 155,000 barrels per day of active permitted disposal capacity. These facilities are supported by multiple long-term operator pipeline agreements. An additional five approved permits with 75,000 barrels per day of permitted capacity were included in the transaction.

As part of the transaction, Tri-State will retain its water hauling and logistics business and we have entered into a long-term services coordination agreement with Tri-State to continue to support volume throughput at the acquired facilities.

Baker Botts advised Tri-State and one of its investors, CIC Partners, in this transaction.

Select Water Solutions’ press release can be found here.

Baker Botts Lawyers/Offices:

Corporate: Bryan Henderson (Partner, Dallas), Zach Fedorko (Senior Associate, Dallas), Maddie Boezinger (Associate, Dallas)

Tax: Steve Marcus (Partner, Dallas)

Global Projects: Gerry Morton (Partner, Houston), Megan Young (Associate, Houston), Sarah Hendrix (Associate, Dallas)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

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