Select Water Solutions (NYSE: WTTR) is an oilfield water management and chemical services company that provides water sourcing, transfer, treatment, and disposal services to oil and gas operators. It makes money through fee-based and transactional service contracts tied to upstream drilling and completion activity. The company is incorporated in Texas and filed its most recent annual report on Form 10-K on 2026-02-18 (accession 000110465926017085). The filing references segments including water services and chemical technologies, with operations oriented around U.S. oil and gas basins. Demand for its services is directly tied to upstream exploration and production activity levels. The filing excerpts available do not supply segment revenue figures, customer concentration data, competitor names, or specific financial metrics with sufficient detail to characterize capital structure or market position with precision.

Revenue model

Fee-based and transactional contracts for water management and chemical services tied to upstream oil and gas drilling and completion activity. Specific pricing terms, contract lengths, and segment revenue breakdowns are not supported by the available filing excerpts.

Products and services

Water sourcing, water transfer, water treatment, water disposal, above-ground storage tanks (ASTs), and chemical technologies for oil and gas operators. The glossary in the filing references ASTs and areas of mutual interest (AMIs) as operational terms, indicating infrastructure-based water handling services.

Customers and end markets

Upstream oil and gas exploration and production operators. End market demand is driven by drilling and completion activity in U.S. oil and gas basins. Specific customer names, customer counts, or concentration figures are not supported by the available filing excerpts.

Value-chain role

Midstream-adjacent water management services provider sitting between water sources and oil and gas wellsites, handling procurement, logistics, treatment, and disposal of produced and frac water.

Geographic exposure

U.S.-focused, incorporated in Texas. Specific basin or regional revenue breakdowns are not supported by the available filing excerpts.

Source: SEC 10-K, filed 2026-02-18

Industry: Oil & Gas Field Services, NEC Peers: Archrock Inc Bristow Group Inc Helix Energy Solutions Group Inc Innovex International Inc Oceaneering International Inc ProPetro Holding Corp SLB NV Tidewater Inc U.S. SILICA HOLDINGS, INC.