Select Water Solutions closes acquisition of Pilot Water Solutions
WTTR•Select Water Solutions completed its approximately $700 million debt-free acquisition of Pilot Water Solutions, paying approximately $600 million in cash and issuing 5,149,331 shares. A new $500 million revolving credit facility took effect at closing.
1. Acquisition completed
Select Water Solutions completed its acquisition of Pilot Water Solutions, a water midstream operator primarily in the Delaware Basin. The approximately $700 million debt-free purchase included approximately $600 million in cash and 5,149,331 shares of Class A common stock.
2. Additional terms
One seller could receive an additional $15 million upon meeting operational milestones expected in early 2027. The seller also receives a cash true-up if the 30-day volume-weighted average share price declines between closing and the six-month anniversary. A new $500 million revolving credit facility became effective at closing, replacing the previous sustainability-linked senior secured credit facility.
