2022 Sustainability Report marks
significant milestone for Select, as the first year the Company is
publicly releasing its Scope 1 and Scope 2 emissions
data
In 2022 Select treated or recycled 17.7
billion gallons of water, on a pro forma basis for recent
acquisitions, a 101% increase from 2021
Select meaningfully exceeded the initial
annual water recycling and employee safety targets embedded in the
Company's sustainability-linked credit facility for 2022 by 118%
and 49%, respectively
HOUSTON, July 12,
2023 /PRNewswire/ -- Select Water Solutions, Inc.
(NYSE: WTTR) ("Select" or the "Company"), a leading provider of
sustainable water and chemical solutions to the energy industry,
today announced the release of its 2022 Sustainability Report, the
second annual report from the Company.
John Schmitz, Chairman of the
Board, President and CEO, stated, "Select is committed to providing
sustainable full-life-cycle water and chemical solutions to our
customers, and we welcome the opportunity to provide details on our
ESG initiatives and environmental stewardship with our second
annual Sustainability Report. Our distinct position as the premier
water and chemistry company in the energy industry allows us to
implement and execute a strategy that effectively serves our
customer's needs and goals, in a manner that is sustainable and
environmentally friendly to the communities in which we operate.
Responsible and ethical practices for our environment, customers,
and employees is core to our corporate mission. We believe the
issuance of our second annual Sustainability Report, with expanded
reporting metrics and information, further exemplifies our
commitment to accountability, transparency, and sustainable
solutions.
"Additionally, we are intensifying our commitment to report on
opportunities related to emissions reductions. As part of our
emissions strategy, we are investing in innovative technologies and
operational enhancements such as equipment automation, ventless
flowback programs, emission mitigation technologies, electric
pumps, and fuel management strategies with the goal of decreasing
our emissions footprint. In conjunction with these efforts,
2022 marks a significant milestone as
the first year Select is publicly releasing its Scope 1 and Scope 2
emissions data, utilizing EPA guidance and calculation
methodologies. Further exemplifying our commitment to
sustainability, we completed the first year of performance against
our produced water recycling and safety performance targets
associated with our sustainability-linked credit facility and are
proud to announce that we meaningfully exceeded both goals in 2022.
We aim to further grow our water recycling and treatment operations
in 2023 and will always be acutely focused on creating a safe
workplace for our employees and positive social impact in our areas
of operation across the country. Our commitment to deliver safe,
reliable, and sustainable solutions helps our customers achieve
their ESG targets while strengthening our ability to generate
superior investor returns. We believe the ongoing advancement in
our integrated water and chemical solutions works in tandem with
our corporate responsibility initiatives and will provide value to
our stakeholders," concluded Mr. Schmitz.
Select's 2022 Sustainability Report details the policies,
processes, procedures, and performance by which Select establishes
and advances Environmental, Social, and Governance ("ESG") goals
and criteria, as well as how the Company aims to act as a force for
environmental stewardship and promote sustainable development in
communities in which it operates.
Highlights of Select's 2022 sustainability report include:
- Reported key ESG performance metrics guided by recommended
external disclosure frameworks
- Disclosed Scope 1 and Scope 2 emissions data utilizing EPA
guidance and calculation methods, along with Company updates on
emissions reduction initiatives
- Meaningfully surpassed the annual threshold and target levels
for both total recordable incident rate ("TRIR") (49%
outperformance) and recycled produced water via fixed facilities
(118% outperformance) as outlined in Select's Sustainability-Linked
Credit Facility
- Reported a 101% year-over-year increase of total treated or
recycled water to 17.7 billion gallons on a pro forma basis for
recent acquisitions, including the acquisition of Breakwater Energy
Partners, which closed on November 1,
2022
- Achieved a 41% year-over-year increase in recycled produced
water as a % of total water sales
- Increased wastewater disposal volumes by 66%
year-over-year
- Maintained a diverse workforce comprised over 50% of minority
groups, with 46% of employees in management represented by ethnic
and gender diverse groups
- Achieved a lost time incident rate ("LTIR") of 0.20 and a TRIR
of 0.62
- 97% of chemicals sourced from companies with active or
partially-implemented ESG or sustainability programs, an increase
of 8 percentage points compared to the prior year
The 2022 Sustainability Report reviews the application of
Select's business principles and supporting policies across the
business and includes both information-based discussions with
internal and external stakeholders as well as consultations with
third-party experts. This report was guided by the recommended
disclosures laid out by the Task Force on Financial Climate-related
Disclosures ("TCFD"), the topics recommended by the Sustainability
Accounting Standards Board ("SASB") Sustainable Industry
Classification System® ("SICS") for the Oil & Gas Services,
Water Utilities and Chemicals industries, and the reporting
standards established by the Global Reporting Initiative ("GRI").
Select intends to regularly report on our ESG policies, procedures,
and performance, both on our website and through our annual
Sustainability Report. Readers are encouraged to read the
Sustainability Report in its entirety, which is accessible at
https://www.selectwater.com/sustainability/.
About Select Water Solutions, Inc.
Select is a leading provider of sustainable water and chemical
solutions to the energy industry. These solutions are supported by
the Company's critical water infrastructure assets, chemical
manufacturing and water treatment and recycling capabilities. As a
leader in sustainable water and chemical solutions, Select places
the utmost importance on safe, environmentally responsible
management of water throughout the lifecycle of a well.
Additionally, Select believes that responsibly managing water
resources throughout its operations to help conserve and protect
the environment is paramount to the Company's continued
success. For more information, please visit Select's website,
https://www.selectwater.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
"could," "believe," "anticipate," "expect," "intend," "project,"
"will," "estimate" and other similar expressions. Examples of
forward-looking statements include statements regarding our future
business strategy and plans. 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. These risks and uncertainties include the risks that
the benefits contemplated from our recent acquisitions may not be
realized, the ability of Select to successfully integrate the
acquired businesses' operations, including Breakwater's employees,
and realize anticipated synergies and cost savings and the
potential impact of the consummation of the acquisitions on
relationships, including with employees, suppliers, customers,
competitors and creditors. Factors that could materially impact
such forward-looking statements include, but are not limited to:
the global macroeconomic uncertainty related to the Russia-Ukraine war; actions by the members of OPEC+
with respect to oil production levels and announcements of
potential changes in such levels, including the ability of the
OPEC+ countries to agree on and comply with supply limitations; the
severity and duration of world health events, including the
COVID-19 pandemic, which had a negative impact on our business; the
level of capital spending and access to capital markets by oil and
gas companies, trends and volatility in oil and gas prices, and our
ability to manage through such volatility; and other factors
discussed or referenced in the "Risk Factors" section of our most
recent Annual Report on Form 10-K and those set forth from time to
time in our other filings with the SEC. 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.
Contacts:
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Select Water
Solutions
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Chris George – Senior
Vice President, Corporate
|
|
Development, Investor
Relations & Sustainability
|
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(713)
296-1073
|
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IR@selectwater.com
|
|
|
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Dennard Lascar Investor Relations
|
|
Ken Dennard / Natalie
Hairston
|
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(713)
529-6600
|
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WTTR@dennardlascar.com
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WTTR-PR
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SOURCE Select Water Solutions