0001144204-19-005953.txt : 20190211 0001144204-19-005953.hdr.sgml : 20190211 20190211060422 ACCESSION NUMBER: 0001144204-19-005953 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190211 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20190211 DATE AS OF CHANGE: 20190211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Select Energy Services, Inc. CENTRAL INDEX KEY: 0001693256 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 814561945 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38066 FILM NUMBER: 19581678 BUSINESS ADDRESS: STREET 1: 515 POST OAK BLVD., STE. 200 CITY: HOUSTON STATE: TX ZIP: 77027 BUSINESS PHONE: (713) 235-9500 MAIL ADDRESS: STREET 1: 515 POST OAK BLVD., STE. 200 CITY: HOUSTON STATE: TX ZIP: 77027 8-K 1 tv512987_8k.htm FORM 8-K

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

____________________

 

FORM 8-K

____________________

 

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 11, 2019

____________________

 

SELECT ENERGY SERVICES, INC.
(Exact name of registrant as specified in its charter)
____________________
     
Delaware 001-38066 81-4561945
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
     

515 Post Oak Blvd, Suite 200

Houston, TX 77027

(Address of Principal Executive Offices)
     
(713) 235-9500
(Registrant’s Telephone Number, Including Area Code)

 

____________________

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 
 

 

 

  

Item 7.01.Regulation FD Disclosure.

 

On February 11, 2019, Select Energy Services, Inc. (the “Company”) issued a press release providing an operational update and announcing the timing for release of its fourth quarter 2018 financial results and related conference call. A copy of the Company’s press release covering such announcement and certain other matters is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

 

Item 9.01Financial Statements and Exhibits.

 

(d)       Exhibits.

 

Exhibit No.   Description
99.1   Press Release dated February 11, 2019

 

 

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: February 11, 2019

 

  SELECT ENERGY SERVICES, INC.  
       
       
  By: /s/ Adam R. Law  
    Adam R. Law  
    Senior Vice President, General Counsel & Corporate Secretary

 

 

 

 

 EX-99.1 2 tv512987_ex99-1.htm EXHIBIT 99.1
Exhibit 99.1
 

Select Energy Services Announces Infrastructure Investment To Be Funded By Planned Divestment Of Non-core Assets



Company also announces its 2018 Fourth Quarter Earnings Release Schedule 

HOUSTON, Feb. 11, 2019 /PRNewswire/ -- Select Energy Services, Inc. (NYSE: WTTR) ("Select" or "the Company"), a leading provider of total water management solutions and a developer and manufacturer of chemical solutions to the North American unconventional oil and gas industry, today announced the commencement of a new fixed pipeline infrastructure project serving both Eddy and Lea Counties, New Mexico in the Northern Delaware Basin. This investment represents a reallocation of capital away from certain non-core legacy businesses Select expects to divest.

The Company expects to invest approximately $25 million in this fixed pipeline infrastructure, which is anticipated to begin operations by the third quarter of 2019. This project is supported by a 5-year take-or-pay contract with a major international integrated oil company for the purchase and delivery of 75 million barrels in total of water. The pipeline system will initially support the provision of up to 100,000 barrels of water per day utilizing existing rights-of-way and source water rights from recently executed long-term supply agreements with industrial sources.

Holli Ladhani, President and CEO, stated, "This new system complements our existing infrastructure and operations in this highly dynamic area of development. We are pleased to have the opportunity to partner with an important customer to support the initial build-out, and will explore additional commercialization opportunities to provide other operators in the area with the services and solutions they need.

"As we look towards the rest of 2019, we will remain judicious stewards of capital. We anticipate this pipeline project will be fully funded from the proceeds of divestments of certain non-core assets, including our Affirm and Canadian operations, which are slated to be completed in 2019. This provides us with the opportunity to reallocate capital to longer-lived, higher margin infrastructure and should provide enhanced returns on our investment," concluded Ladhani.

Conference Call

Additionally, Select announced its 2018 fourth quarter earnings release and conference call schedule. Select will issue its full year and fourth quarter 2018 earnings release on Tuesday, February 26, 2019 after the close of trading. In conjunction with the release, the Company has scheduled a conference call, which will also be broadcast live via webcast, on Wednesday, February 27, 2019 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). Please dial 201-389-0872 and ask for the Select Energy Services call at least 10 minutes prior to the start time of the call, or listen to the call live over the Internet by logging on to the website at the address http://investors.selectenergyservices.com/events-and-presentations.

A telephonic replay of the conference call will be available shortly after the conclusion of the call and will remain available through March 6, 2019. The replay may be accessed by calling 201-612-7415 and using the passcode 13687413#. A webcast archive will also be available at the link above shortly after the call and will be accessible for approximately 90 days.

About Select Energy Services, Inc.

Select is a leading provider of total water management solutions and also a developer and manufacturer of chemical solutions to the North American unconventional oil and gas industry. Select provides for the sourcing and transfer of water, both by permanent pipeline and temporary hose, prior to its use in the drilling and completion activities associated with hydraulic fracturing, as well as complementary water-related services that support oil and gas well completion and production activities, including containment, monitoring, treatment and recycling, flowback, hauling, and disposal. Select, under its Rockwater Energy Solutions subsidiary, develops and manufactures a full suite of specialty chemicals used in the well completion process and production chemicals used to enhance performance over the producing life of a well. Select currently provides services to exploration and production companies and oilfield service companies operating in all the major shale and producing basins in the United States and Western Canada. For more information, please visit Select's website, http://www.selectenergyservices.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "expect," "will," "estimate" and other similar expressions. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Factors that could materially impact such forward-looking statements include, but are not limited to, the factors discussed or referenced in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2017 and in any subsequently filed quarterly reports on Form 10-Q or current reports on Form 8-K. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

WTTR-ER

Contacts:

Select Energy Services 


Chris George - VP, Investor Relations & Treasurer


(713) 296-1073


IR@selectenergyservices.com

Dennard Lascar Investor Relations


Ken Dennard / Lisa Elliott


713-529-6600


WTTR@dennardlascar.com