Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris,” “Aris Water,” or the “Company”) announced today that ExxonMobil has joined Aris’s previously announced strategic agreement (the “Agreement”) with Chevron U.S.A. Inc. (“Chevron”) and ConocoPhillips Company (“ConocoPhillips”) to develop and pilot technologies and processes to treat produced water for potential beneficial reuse opportunities. Together, Aris, ExxonMobil, Chevron, and ConocoPhillips seek to develop cost-effective and scalable solutions of treating produced water for non-consumptive agricultural, alternative power generation and other industrial and commercial applications.
“We are delighted that ExxonMobil is joining our collaborative industry efforts to improve water sustainability management in the Permian Basin by developing and piloting additional opportunities to use produced water outside of the oil and gas industry,” said Aris President and CEO Amanda Brock. “By combining the expertise and resources of ExxonMobil, Chevron, and ConocoPhillips with Aris’s proven capabilities in water gathering, treatment, and recycling, we can further accelerate beneficial reuse solutions.”
“As a leading operator in the Permian Basin, we are working to help safeguard the region’s water sources,” said David Scott, General Manager of ExxonMobil’s Permian business unit. “Collaborating with others to help unlock beneficial reuse opportunities is a key part of ExxonMobil’s Permian water management strategy, and we look forward to furthering this effort with our long-standing experience in research and technology development.”
Aris, ExxonMobil, Chevron, and ConocoPhillips plan to complete pilot testing and the performance evaluation of certain pilot technologies by the end of 2023. This will pave the way for risk assessments for treated produced water, which are important enablers for eventual beneficial reuse applications. The companies remain focused on working closely with regulators and industry stakeholders to continue supporting collaborative efforts that can help realize the full potential of beneficial reuse.
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. In some cases, you can identify forward-looking statements by terminology such as “will,” “plan,” “potential,” “could,” “continue,” and variations of such words or similar expressions. Forward-looking statements are based on our current expectations and assumptions about future events. Although we believe that these expectations and assumptions are reasonable, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by or implied in the forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed or referenced in our filings made from time to time 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 speak only as of the date hereof. Except as required by law, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future developments or otherwise.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005891/en/
Senior Vice President, Finance, and Investor Relations