Houston-based Select Energy Services said it completed the acquisition on Nov. 1 of Permian Basin water recycler Breakwater Energy Partners in a stock-for-stock transaction (assumed $12.6 million of debt). Breakwater provides water infrastructure, recycling, transfer and disposal to operators in Permian Basin with complementary water logistics in Eagle Ford. Breakwater operates four commercial recycling facilities with nine modular recycling facilities.
John Schmitz, chairman, president and CEO of Select Energy said, “We are acquiring one of the market leaders in advanced water recycling, infrastructure and logistics solutions focused in the Permian Basin… With a strategic portfolio of highly contracted recycling assets in the core of the Midland Basin, we believe Breakwater has developed one of the leading recycling footprints in the U.S. today. This footprint expands Select’s recycling capabilities to nearly three million barrels of total daily capacity.”