Aris Water Solutions, Inc. (ARIS) announced a long-term full cycle water management agreement with Chevron U.S.A. Inc. (“Chevron”) in the Permian Basin. Under the arrangement, Aris will provide produced water handling and recycling services in a portion of Chevron’s core position in the Delaware Basin, including acreage in Eddy and Lea Counties, New Mexico and Culberson and Reeves Counties, Texas. The agreement will facilitate Chevron’s increased use of recycled water in their operations and reduce their use of groundwater, improving their water sustainability footprint.
“We are excited Chevron has chosen to expand their existing relationship with us in such a meaningful manner. We have worked with Chevron for a number of years and have repeatedly proven our ability to deliver secure takeaway and re-use solutions. This is a significant contract for Aris and we are very proud of our entire team that helped achieve this milestone. We continue to make great progress expanding our system, capabilities, and customer base. This agreement increases Aris’s overall acreage giving Aris the premier dedicated acreage position in the Northern Delaware Basin,” said Amanda Brock, President and CEO of Aris Water Solutions.
Aris has repeatedly demonstrated its commitment to delivering sustainable and comprehensive water solutions to its customers in the Permian Basin. The Company continues to rapidly expand its recycling system and enter into new contracts with customers who are increasing their use of recycled water. Aris is also closely collaborating with a number of its customers to identify and pilot additional opportunities for the beneficial reuse of recycled water.