Water Infrastructure

Midstream Water Networks and Facilities Balanced for Multiple-User Efficiency

Tideline™

A New Standard in Lay-Flat Hose Technology Specialized for Produced Water

Water Stewardship

Building Comprehensive Strategies for a Sustainable and Equitable Water Future

Field Services

Performance driven expertise during the job, and field ready equipment for a variety of applications

Sustainable Chemistry

Developing environmentally preferred options and raw material sourcing while maintaining performance

Manufacturing

In-basin manufacturing puts customized products closer to the field and with reduces lead times

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Back to 2024 Sustainability Report

Sustainability-Linked Credit
Facility Update

In January 2025, Select successfully closed a new $550 million five-year senior secured sustainability-linked credit comprised of an initial $300 million revolving credit commitment and $250 million in term commitments. The introduction of the term loan component enhances the long-term financial stability of Select and allows the company to support growth in our Water Infrastructure segment, largely around sustainable recycling projects

This facility incorporates two primary sustainability-linked targets, in a similar manner to the prior credit facility, reinforcing Select’s commitment to environmental stewardship and employee safety standards. The new credit facility rewards Select with reduced borrowing costs for achieving measurable milestones in growing produced water recycling volumes and maintaining industry-leading safety standards. 

Total Recordable Incident Rate

Total Recordable Incident Rate (TRIR) includes full-time employees, regular part time, temporary employees,
and non-employee contractors (collectively, “employees”).

In conjunction with the new credit facility, we have enhanced our safety and recycling targets, further exemplifying our commitment to improving our sustainability and safety metrics for our employees, stakeholders, and communities.   Our safety performance remains a critical focus, with our Total Recordable Incident Rate (TRIR) measured against industry averages provided by the Bureau of Labor Statistics. The new facility includes specific covenants targeting continuous improvement and maintaining performance standards below industry benchmarks.

The target is to achieve performance that is lower than the product of (i) the three-year trailing average of the following subsectors classifications as reported by the Bureau of Labor Statistics: Support Activities for Oil and Gas operations, Chemical Manufacturing, Truck Transportation, & Administrative and Support Services and (ii) 0.75 for 2022 through 2024 related to the prior credit facility; or 0.70 for 2025, ratably reducing to 0.65 by 2029. 

Barrels of Recycled Produced Water

Additionally, our water sustainability goals emphasize significant increases in recycling produced water at fixed facilities. Our objective under the sustainability-linked facility is to substantially grow recycled water volumes at our fixed facilities to 403 million barrels in 2029 relative to our 2024 achievement of 185 million barrels, reflecting our leadership role in sustainable water management practices.

The criteria for the new credit facility establishes certain growth targets and thresholds for increasing the total barrels of produced water that Select recycles based upon the objective to more than double the total recycled volumes by 2029 relative to our 2024 baseline volumes.

1. Pro forma to include full year contribution of Breakwater acquisition, which closed November 1, 2022
2. Recycled produced water target and results represent volumes through fixed recycling facilities only in accordance with the terms of the sustainability-linked credit facility agreement.

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