Select Water Solutions to Buy Pilot Water for $700 Million
The water-infrastructure operator will fold a private Delaware Basin midstream company into its recycling and disposal network.
Select Water Solutions, Inc. (WTTR) agreed to acquire Pilot Water Solutions LLC for $700 million, plus up to $15 million of additional contingent cash consideration, in a mixed-consideration transaction expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
The water-infrastructure operator said the addition of Pilot Water to its existing Delaware Basin water infrastructure network will create a well-balanced, integrated recycling and disposal platform positioned to efficiently capture the full lifecycle economics of produced and treated produced water.
John Schmitz, Chairman of the Board, President and CEO, stated, “We are excited to announce our agreement to acquire Pilot Water Solutions, a leading private water midstream company with a core position in the Delaware Basin. We expect this acquisition to further solidify Select’s position as a diversified, market-leading water midstream platform operating across the United States. With Pilot Water, Select will add highly contracted, production-related earnings streams at an accretive valuation in the heart of the Delaware Basin.”
The deal follows a run of smaller Delaware Basin additions. In early May 2026, Select closed $28.6 million of acquisitions adding surface acreage and minerals, disposal capacity, water rights, and storage infrastructure in the Northern Delaware Basin. In August, it executed a definitive agreement with a large public operator for the conveyance of 14 saltwater disposal wells and the development of a new pipeline project supported by a 128-million-barrel minimum volume commitment in the Northern Delaware Basin.
Water Infrastructure generated record revenue of $102 million in the second quarter of 2026, up $21 million, or 26%, from the second quarter of 2025. Consolidated revenue for that quarter was $396 million.
The company described itself as a leading provider of sustainable water and chemical solutions to the energy industry, with critical water infrastructure assets, chemical manufacturing, and water treatment and recycling capabilities. Select said it places importance on environmentally responsible management of water throughout the lifecycle of a well.
The transaction remains subject to customary closing conditions and regulatory approvals, with a close targeted for the fourth quarter of 2026.