Select Water Solutions, Inc.

Greetings. Welcome to the Select Water Solutions 2026 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Garrett Williams, Vice President of Corporate Finance and Investor Relations. Thank you, Garrett. You may begin.

Thank you, operator, and good morning, everyone. We appreciate you joining us for SelectWire Solutions conference call and webcast to review our financial and operational results for the second quarter of 2026. With me today are John Schmitz, our founder, chairman, president, and chief executive officer, Chris George, executive vice president and chief financial officer, Michael Skarke, executive vice president and chief commercial officer, and Mike Lyons, executive vice president and chief strategy and technology officer. Before I turn the call over to John, I have a few housekeeping items to cover. A replay of today's call will be available by webcast and accessible from our website at selectwater.com. There will also be a recorded telephonic replay available until August 19, 2026. The access information for this replay was also included in yesterday's earnings release. Please note that the information reported on this call speaks only as of today, August 5, 2026, and therefore, time-sensitive information may no longer be accurate at the time of the replay listening or transcript reading. In addition, the comments made by management during this conference call may contain forward-looking statements within the meaning of the United States Federal Securities Laws. These forward-looking statements reflect the current views of Selects Management. However, various risks, uncertainties, and contingencies could cause our actual performance or achievements to differ materially from those expressed in the statements made by management. The listener is encouraged to read our annual report on Form 10-K, our current reports on Form 8-K, as well as our quarterly reports on Form 10-Q to understand those risks, uncertainties, and contingencies. Please refer to our earnings announcement released yesterday for reconciliations of non-GAAP financial measures. Now, I'd like to turn the call over to John.

Thanks, Garrett. Good morning and thank you for joining us. I am pleased to be discussing Select Water Solutions again with you today. The second quarter of 2026 was a very strong quarter for Select. I'd like to start with some of the key second quarter highlights and other strategic and market updates. Then I'll hand it over to Chris to discuss the second quarter financial results and the forward outlook in more detail. In the second quarter, Select delivered strong overall performance across all three operating segments, with both our water infrastructure and our chemical technology segments producing record revenue and gross profit in the quarter. During the second quarter, on a consolidated basis, we increased revenue by 8 percent, increased adjusted EBITDA by 19 percent, and more than double net income as compared to the first quarter of 2026. Our water infrastructure segment outpaced our guidance for the period, delivering another quarter of revenue growth and margin improvement. Increased produced water volumes and improved skim oil recovery drove record quarterly revenue of 102 million for the segment in the second quarter. This results in 26% year-over-year growth in revenue for the segment relative to the second quarter of 2025, demonstrating the significant progress we've made with our water infrastructure growth strategy. We expect to see further growth in the third quarter, and we are well on track to achieve the upper end of our 25 to 30% full-year growth guidance for the segment. setting the stage for additional run rate growth looking into 2027. While much has been accomplished, we continue to find new opportunities, both large and small, to further enhance the long-term potential value of our Northern Delaware network. We added several MVCs, acreage dedications, and interruptible tie-in agreements during the quarter. while also executing a new mineral extraction agreement with a new strategic partner for iodine extraction across the portfolio. Importantly, during the second quarter, we executed a new seven-year agreement with a large public operator in the Northern Delaware Basin supported by a sizable 128 million barrel MVC contract. This agreement also includes included the conveyance of a portfolio of underutilized but strategic SWDs across Eddy and Lee Counting, New Mexico. We intend to tie these SWDs into our existing water infrastructure network, and the full project associated with the large NVC award is expected to cost approximately $25 to $30 million and to be operational within the next 12 months. The conveyance of these SWDs was largely enabled by the historical success of the full lifecycle water management solutions we've developed in collaboration with this operator, which increased their recycling volumes and decreased the utilization of their own operated disposal wells in the Northern Delaware. This reduced the operator's need for owning disposal wells in the region. This speaks to the value our integrated recycling and disposal infrastructure network brings to our customers, and more broadly, to the Northern Delaware region. Ultimately, the customer views this disposal capacity as more valuable to them as part of Select's broader commercial platform than part of their own internal system. Select's comprehensive water management framework allows us to take a basin-wide approach to produce water disposal, treatment, and supply to unlock value across the Northern Delaware Basin, and I believe there will continue to be opportunities to acquire existing assets that are scalable and synergistic with Select's ongoing organic infrastructure build-out. Water Management is mission critical to the energy industry and disposal remains an essential part of a comprehensive water management solution. We are proud of the increasing collaboration and commitment from our customers to grow our full lifecycle and cost advantage solution in partnership together. Elsewhere in our chemical technology segment, we saw significant sequential and year-over-year improvement coming in well above our expectations. Our chemical technology segment, in base and manufacture, rapid new product development pace and steady field execution has driven market share gains. Furthermore, increased completion intensity and complexity and the growing interest in surfactant technology has driven increased demand for our higher spec and higher margin product offerings. This contributed to record setting chemical technologies revenue in the second quarter, and despite increases to oil-based raw material input costs, we delivered margin gains in the quarter as well. Looking at our water services segment, we outperformed our expectations in the second quarter and have been pleased with the year-to-date performance of our last mile water logistics and delivery business. Looking at the macro outlook more broadly, the geopolitical and commodity price environment remains fluid. We believe the customer activity environment will remain supportive of continued solid performance and the more direct activity correlated offerings within our water services and chemical technology segments. While our water infrastructure segment will continue to benefit from the strong secular tailwinds, a steady pace of new projects and a growing portfolio of contracted future inventory in the core of the Permian Basin. Overall, I am very pleased with the performance of the business year today. With the support of a healthy balance sheet, we are well positioned to continue to invest in attractive growth opportunities in front of us in order to deliver long-term value to our customers, employees, and stakeholders as we look ahead. At this point, I'll hand it over to Chris to speak to our financial results and outlook in a bit more detail. Chris?