Net income of Select Energy Services under GAAP for the 3 months of 2022 was $7.985 million, compared to a loss of $27.421 million in the previous year. Revenue increased 2.1 times to $294.769 million from $143.742 million a year earlier.

Select Energy Services' GAAP loss for 2021 was $50.085 million, down 8 times from $401.732 million in the prior year. Revenue increased 26.4% to $764.62 million from $605.105 million a year earlier.

Select Energy Services reported a GAAP loss of $61.24 million for 9M 2021, down 6.2 times from $380.524 million in the previous year. Revenue increased by 8% to $509.492 million from $471.766 million a year earlier.

Select Energy acquired nearly all of the assets of Agua Libre Midstream, which provides water to oil and gas companies. Select Energy also acquired some water transportation assets from Basic Energy. To pay for the assets, Select issued 902,593 shares of Class A common stock and paid Basic $14.5 million.