HOUSTON–(BUSINESS WIRE)–May 9, 2022–
Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris,” “Aris Water,” or the “Company”) announced today a long-term full cycle water management agreement with Chevron USA Inc. (“Chevron”) in the Permian Basin. Under the arrangement, Aris will provide produced water handling and recycling services in a portion of Chevron’s core position in the Delaware Basin, including acreage in Eddy and Lea Counties, New Mexico and Culberson and Reeves Counties, Texas. The agreement will facilitate Chevron’s increased use of recycled water in their operations and reduce their use of groundwater, improving their water sustainability footprint.
“We are excited Chevron has chosen to expand their existing relationship with us in such a meaningful manner. We have worked with Chevron for a number of years and have repeatedly proven our ability to deliver secure takeaway and re-use solutions. This is a significant contract for Aris and we are very proud of our entire team that helped achieve this milestone. We continue to make great progress by expanding our system, capabilities, and customer base. This agreement increases Aris’s overall acreage giving Aris the premier dedicated acreage position in the Northern Delaware Basin,” said Amanda Brock, President and CEO of Aris Water Solutions.
Aris has repeatedly demonstrated its commitment to delivering sustainable and comprehensive water solutions to its customers in the Permian Basin. The Company continues to rapidly expand its recycling system and enter into new contracts with customers who are increasing their use of recycled water. Aris is also closely collaborating with a number of its customers to identify and pilot additional opportunities for the beneficial reuse of recycled water.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, we cannot assure you that these forward-looking statements will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About Aris Water Solutions, Inc.
Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.
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CONTACT: David Tuerff
Senior Vice President, Finance and Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: OIL/GAS ENERGY ENVIRONMENT OTHER ENERGY UTILITIES
SOURCE: Aris Water Solutions, Inc.
Copyright Business Wire 2022.
PUB: 09/05/2022 05:01 PM/DISC: 09/05/2022 05:02 PM
Copyright Business Wire 2022.