Every material Form 8-K Select Water Solutions, Inc. has filed with the SEC since October 15, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Select Water Solutions reported third-quarter 2026 revenue of $412 million, up 28% from a year earlier, and net income of $22.9 million, compared with $2.3 million in the third quarter of 2025. The company guided fourth-quarter Adjusted EBITDA to $95 million to $100 million and raised its 2026 net capital expenditure outlook to about $300 million to $310 million, while reporting that it closed the Pilot Water acquisition after quarter end.
Revenue was $412 million, up $90 million or 28% year over year; Adjusted EBITDA was $93.5 million, up from $59.5 million a year earlier.
Fourth-quarter 2026 Adjusted EBITDA is expected to be $95 million to $100 million; 2026 net capital expenditures are now expected to be about $300 million to $310 million.
After quarter end, the company issued $900 million of 7.625% senior notes due November 1, 2034, and entered a new $500 million revolving credit facility that was undrawn as of November 9, 2026.
Select Water Solutions completed its acquisition of Pilot Water Solutions LLC, a private water midstream company in the Delaware Basin, on November 2, 2026, for about $700 million including about $600 million in cash and 5,149,331 Class A common shares. The company also began a new $500 million revolving credit facility and repaid and terminated its earlier credit facilities. For shareholders, the deal adds new shares outstanding and a new debt obligation, along with a possible cash true-up payment tied to the share price six months after closing.
Closed on November 2, 2026: about $600 million cash plus 5,149,331 Class A shares, about $700 million in total consideration
Up to $15 million contingent payment to the seller tied to operational milestones, expected in early 2027
Cash true-up payment possible if the 30-day VWAP six months after closing is below the pre-closing 30-day VWAP
New $500 million revolving credit facility effective November 2, 2026; $218.8 million term loan and $10.0 million revolver balances repaid
Select Water Holdings LLC, a subsidiary of Select Water Solutions, issued $900 million of 7.625% senior notes due November 1, 2034, under an indenture dated October 21, 2026. The notes are tied to the company's previously announced acquisition of Pilot Water Solutions; if that deal is not completed by March 1, 2027, or is terminated, the issuer must redeem notes above $450.0 million, which would reduce the debt taken on.
Issued $900 million aggregate principal of 7.625% senior notes due November 1, 2034, on October 21, 2026.
Interest is payable semi-annually on May 1 and November 1, starting May 1, 2027.
Special mandatory redemption applies if the Pilot Water Solutions acquisition is not completed by March 1, 2027, or is terminated; the issuer would redeem notes above $450.0 million.
The notes are not guaranteed by Select Water Solutions, Inc. or SES Holdings, LLC.
Select Water Holdings LLC, a subsidiary of Select Water Solutions, priced $900 million of 7.625% senior notes maturing November 1, 2034, upsized from $800 million and sold at par, with closing expected October 21, 2026. Net proceeds of approximately $882.6 million, plus cash on hand, will fund part of the cash consideration for the pending Pilot Water Solutions acquisition and repay the term loan and revolving credit facility obligations. The notes add $900 million of debt, and if the Pilot Water Acquisition is not completed by March 1, 2027, most of the notes must be redeemed.
$900 million of 7.625% senior notes due November 1, 2034, upsized from $800 million and priced at par
Approximately $882.6 million in net proceeds after the initial purchasers' discount and estimated offering expenses; closing expected October 21, 2026
Proceeds fund part of the Pilot Water Acquisition cash consideration and repay the term loan in full
If the Pilot Water Acquisition is not completed by March 1, 2027, the issuer must redeem notes equal to the principal less $450 million
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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