Crystal Clearwater Resources LLC (CCR), a clean-tech industrial water purification company, announces the successful completion of its Series-A funding round, garnering significant investment. The financing round was led by Elk Mountain, Ltd. THE CCR TEAM WILL BE AT OUR EVENT TOMORROW, SO LOOK FOR THEM, SAY CONGRATS, AND LEARN WHAT'S NEXT FOR THEM! CCR has demonstrated promising growth and has established a significant presence in treating challenging wastewater streams, especially in the oil & gas produced water sector.

The Water Services segment generated revenues of $251.9 million in the third quarter of 2023 as compared to $264.6 million in the second quarter of 2023 and $264.3 million in the third quarter of 2022. For the fourth quarter of 2023, the Company expects to see revenues impacted by year-end seasonality with segment revenues down mid-single-digit percentages.

In their earnings report Monday, Tetra had this to say about desal: "Our target to have the engineering completed for our first produced water desalination plant for beneficial re-use applications is on track for year end or early part of 2024. In parallel to the engineering design work, we are in commercial discussions with one of the largest North America shale producers for their beneficial re-use projects in multiple unconventional basins and expect to have our first project awarded shortly."

"We completed the data gathering and sampling operations for the second test well with results yielding lithium measurements in the upper Smackover as high as 646 mg/l, 35% higher than the first test well which was on the southern end of the unit that we reported in September 2022, and bromine values of 5,890 mg/l, in line with the first test well. These results are being used to update the lithium and bromine resource report which we plan to complete and release shortly."

From Exxon's earnings call last week: "We plan to accelerate Pioneer's Permian net zero ambition by 15 years and fully leverage their advances in water recycling. This deal is a win any way you look at it, good for our shareholders, good for the environment, good for the economy, and good for US energy security... Midland Basin has got far more mature infrastructure, and I would say that Pioneer has done an exceptional job in both developing and acquiring and contracting both infrastructure to exit product and for water."

From the earnings call: "On a per unit basis, adjusted operating revenues were $2.28 per Mcfe, and our total per unit operating costs were $1.29, down from $1.37 in the second quarter, reflecting the accretion benefit from a partial quarter contribution of Tug Hill's low-cost assets and lower-than-expected LOE due to increased produced water recycling."

Salt Water Disposal capacity was 70kbpd in 2017 and is now 478kbpd in 2023, including 445,000 Bbl/d of designed produced water disposal capacity owned by San Mateo and ~32,500 Bbl/d of produced water disposal capacity acquired in the Advance acquisition.