Select Water closes ~$700M Pilot Water acquisition

Select Water Solutions has closed its acquisition of Pilot Water Solutions, a private water midstream company operating mainly in the Delaware Basin, for about $700 million. Consideration included roughly $600 million in cash and 5,149,331 Select shares, plus a possible $15 million contingent payment tied to operational milestones.

Why it matters: The deal scales Select's disposal and recycling platform as Delaware Basin produced-water volumes keep rising.