Select Energy Services authorizes new $50M share repurchase program

Select Energy Services has authorized a new $50M share repurchase program under which the company may repurchase its outstanding shares of Class A common stock. This new authorization is in addition to the $8.6M remaining outstanding under the company’s previous $25M authorization, as of December 31, 2022. The combined outstanding repurchase authorization represents nearly 10% of the Company’s outstanding Class A common stock. Repurchases may be suspended or discontinued at any time without prior notice. The Company expects to fund the repurchase program out of working capital and cash flow from operations, as well as borrowings under its sustainability-linked credit facility.