Company Quick10K Filing
Select Energy Services
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-02-25
10-Q 2019-09-30 Filed 2019-11-07
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-03-01
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-10
10-Q 2018-03-31 Filed 2018-05-11
S-1 2018-01-24 Public Filing
10-K 2017-12-31 Filed 2018-03-19
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-11
10-Q 2017-03-31 Filed 2017-05-19
8-K 2020-05-08 Shareholder Vote, Exhibits
8-K 2020-05-05 Earnings, Exhibits
8-K 2020-03-31
8-K 2020-02-24 Earnings, Exhibits
8-K 2020-01-22 Officers, Exhibits
8-K 2019-12-18 Officers, Regulation FD, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-08-06 Earnings, Exhibits
8-K 2019-05-10 Amend Bylaw, Shareholder Vote, Exhibits
8-K 2019-05-07 Earnings, Regulation FD, Exhibits
8-K 2019-03-22 Officers, Regulation FD, Exhibits
8-K 2019-02-26 Earnings, Exhibits
8-K 2019-02-11 Regulation FD, Exhibits
8-K 2018-11-06 Earnings, Exhibits
8-K 2018-08-09 Earnings, Exhibits
8-K 2018-05-21 Officers, Other Events, Exhibits
8-K 2018-05-10 Earnings, Exhibits
8-K 2018-05-08 Officers, Regulation FD, Exhibits
8-K 2018-05-04 Shareholder Vote
8-K 2018-03-22 Other Events, Exhibits
8-K 2018-03-07 Earnings, Exhibits

Select Energy Services Financials

WTTR Metrics, Comps, Filings

Quarterly | Annual

Business

We are a leading provider of water-management solutions to the oil and gas industry in North America. We also develop, manufacture and deliver chemical solutions for use in oil and gas well completions and production operations. Within the major shale plays in the United States, we believe we are a market leader in water sourcing, water transfer (both by permanent pipeline and temporary hose) and temporary water containment prior to its use in drilling and completion activities associated with hydraulic fracture stimulation or “fracking,” which we refer to collectively as “pre‑frac water services”. In addition, we provide testing and flowback services immediately following the well completion. In most of our areas of operations, we also provide additional complementary water‑related services that support oil and gas well completion and production activities, including monitoring, treatment, hauling, water recycling and disposal. We also manufacture a full suite of specialty chemicals used in the fracturing process, and we provide chemicals needed by our customers to help increase oil and gas production and lower costs over the life of a well. We believe we are the only company in the oilfield services industry that combines water-management services with related chemical products.

The diagram below illustrates the primary water solutions and oilfield chemicals services we provide during the completion and production cycle of a horizontal well:

Advances in drilling and completion technology have propelled U.S. shale-oil production from about 500,000 barrels per day in 2010 to nearly six million barrels per day in 2018. Concurrently, the total volumes of water required in the fracking process have grown dramatically. For example, in 2010 the completion of a typical horizontal well might require roughly 75,000 barrels, or the equivalent of approximately 575 tank truck loads of water. Today, current horizontal well completion designs can call for in excess of 500,000 barrels for a single well, roughly equivalent to 3,850 truck loads of water. Multi‑well pad completions can require in excess of five million barrels, or the equivalent of 38,500 tank truck loads, of water per pad. Significant mechanical, logistical, environmental and safety issues related to the transfer and subsequent containment of such large volumes via tank truck have resulted in tank trucks no longer representing a viable solution for the transport of frac water. Accordingly, E&P companies have shifted their pre-frac operational focus away from traditional tank truck operators and small, local water service providers, to larger regional and national players like us, who have the expertise, technology and scale to provide high quality, reliable, comprehensive and environmentally sound water-management solutions.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
FTS International (FTSI) 283 16% 9.3 -5% 686 639 882 138 -33 58 539
KLX Energy Services Holdings (KLXE) 216 18% -18.8 -10% 658 329 591 104 -66 -18 338
Nine Energy Service (NINE) 187 16% 48.0 -7% 1,082 475 899 140 -75 10 494
Natural Gas Services (NGS) 176 0% 33.8 -4% 297 47 75 0 -12 5 157
Cypress Energy Partners (CELP) 156 13% 10.9 9% 172 115 399 52 15 20 223
Mammoth Energy Services (TUSK) 123 16% 1.0 5% 1,023 295 567 89 50 190 193
NCS Multistage (NCSM) 93 47% -0.5 -106% 213 51 204 96 -225 -207 104
Nuverra Environmental Solutions (NES) 66 0% 76.0 -9% 278 66 180 0 -26 1 98
Quintana Energy Services (QES) 62 0% -5.3 -26% 267 129 548 0 -69 -15 80
Ranger Energy Services (RNGR) 61 0% 2.8 2% 308 106 342 0 7 39 107
Basic Energy Services (BAS) 40 32% -25.9 -21% 668 540 565 184 -141 -12 303
Key Energy Services (KEG) 28 19% -9.8 -24% 374 446 87 -90 -25 249
Recon Technology (RCON) 17 14% 5.3 1% 157 50 8 1 2 2 13
Enservco (ENSV) 14 18% 5.5 -11% 40 40 38 7 -4 3 17
Superior Energy Services (SPN) 14 25% -1.2 -43% 2,124 1,981 1,869 466 -907 -895 1,051
North American Energy Partners (NOA)
NexTier Oilfield Solutions (NEX) 23% 0.6 -2% 1,059 587 1,780 412 -17 287 181
Select Energy Services (WTTR) 12% -0.4 0% 1,377 251 1,378 161 3 100 -43
U.S. Well Services (USWS) 16% 7.0 -16% 656 432 541 87 -108 42 292
CSI Compressco (CCLP) 24% 28.0 -3% 850 799 491 118 -23 22 630

Balance Sheet ($MM)2017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash8534236111317162443
Accounts Receivable103130148374407425422342348325311
Inventory1114545524945434040
PP&E7567908151,0351,0521,0641,1125034901,0691,084
Assets4415295531,3561,3911,4341,4391,3611,4121,3771,377
Accounts Payable1312125362675454655339
Long-Term Debt00777781664625
Liabilities1138098293310325296250297250251
Stockholders' Equity111196199657669801861833839849926
Income Statement ($MM)2017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue100134154304376393397362363324329
Cost of Revenue100122134278328531338328317284288
Gross Profit-012202648855934464041
R&D
SG&A10231633263625322727
Tax0-00-0001013
Net Income-4-43-10162631-14187
Cash Flow ($MM)2017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating-8201352960373867
Cash Investing-58-30-35-31-28-43-17-4-36
Cash Financing34-0-6-14-16-22-26-12