Latest news with #waterinfrastructure
Associated Press
5 hours ago
- Business
- Associated Press
Aris Water Announces Seven-Year Extension of Water Gathering and Disposal Agreement with ConocoPhillips and Provides Operational Update
HOUSTON--(BUSINESS WIRE)--Jul 30, 2025-- Aris Water Solutions, Inc. (NYSE: ARIS) ('Aris') today announced the extension of its Water Gathering and Disposal Agreement (the 'Agreement') with ConocoPhillips, extending the primary term of the Agreement from May 31, 2033, to May 31, 2040. The Agreement's terms will otherwise remain unchanged as the parties extend their successful operational relationship. This extension further aligns the interests of both parties and complements their recently executed long-term water supply contract. Aris will continue to provide long-term full-cycle water infrastructure services to ConocoPhillips, including recycled water supply, produced water transportation and produced water handling operations in the Northern Delaware Basin. 'ConocoPhillips is one of our most important customers and long-term partners, and Aris has consistently demonstrated its ability to deliver reliable, full-cycle water infrastructure solutions. This extension represents a significant milestone for Aris—lengthening the acreage-weighted remaining term of our produced water contracts from approximately six years to over ten years,' said Amanda Brock, President and CEO of Aris Water Solutions. 'This extension also provides Aris with substantial long-term revenue visibility, supported by ConocoPhillips' highly economic, multi-decade remaining inventory.' Aris continues to see strong activity levels from dedicated customers and associated produced water volume growth. For the second quarter of 2025, Aris expects to report Adjusted EBITDA at the high end of its guidance range. Aris is also reaffirming its full-year financial outlook, underpinned by the activity of its long-term customers in premier acreage. Aris will host a conference call to discuss its second quarter 2025 results on Tuesday, August 12, 2025, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). Aris will issue its second quarter 2025 earnings release after market close on August 11, 2025. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook, business strategy, our future revenue, our ability to perform under, and benefit from, our contracts with ConocoPhillips, our expected results for the second quarter of 2025 and our full-year guidance for 2025, as well as other statements that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as 'expect,' 'will,' 'intend,' 'believe,' 'may' and variations of such words or similar expressions. Forward-looking statements are based on our current expectations and assumptions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated or implied by the forward-looking statements. Risks and uncertainties include, but are not limited to, those detailed in Aris' most recent Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. All forward-looking statements, expressed or implied, included in this press release and any oral statements made in connection with this press release are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Non-GAAP Financial Information Aris uses financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ('GAAP'), including Adjusted EBITDA. Although this non-GAAP financial measure is an important factor in assessing Aris' operating results, it should not be considered in isolation or as a substitute for net income or any other measure prepared under GAAP. Aris calculates Adjusted EBITDA as net income (loss) plus: interest expense; income taxes; depreciation, amortization and accretion expense; abandoned well costs, asset impairment and abandoned project charges; losses on the sale of assets; transaction costs; research and development expense; change in payables related to the Tax Receivable Agreement liability as a result of state tax rate changes; loss on debt extinguishment; stock-based compensation expense; and other non-recurring or unusual expenses or charges (such as litigation expenses, severance costs and amortization expense related to the implementation costs of our new enterprise resource planning system), less any gains on the sale of assets. Aris believes that Adjusted EBITDA is used by investors and professional research analysts to assess the ability of our assets to generate sufficient cash to meet our business needs and return capital to equity holders, as well as for the valuation, comparison, rating and investment recommendations of companies within our industry. Similarly, Aris' management uses this information for comparative purposes as well. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as a measure of liquidity or as alternatives to net income (loss). Additionally, Adjusted EBITDA as defined by Aris may not be comparable to similarly titled measures used by other companies and should be considered in conjunction with net income (loss) and other measures prepared in accordance with GAAP. About Aris Water Solutions, Inc. Aris Water Solutions, Inc. is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris 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. View source version on CONTACT: David Tuerff Senior Vice President, Finance and Investor Relations (281) 501-3070 [email protected] KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: RECYCLING OTHER ENERGY UTILITIES ENVIRONMENT OIL/GAS SUSTAINABILITY ENERGY SOURCE: Aris Water Solutions, Inc. Copyright Business Wire 2025. PUB: 07/30/2025 06:35 PM/DISC: 07/30/2025 06:35 PM
Zawya
21-07-2025
- Business
- Zawya
Acwa signs Senegal renewable desalination project deals
Acwa Power has signed key project agreements with the Government of Senegal for the Grande-Côte seawater desalination project. The project, powered by renewable energy, is set to secure up to 400,000 m³ of potable water per day for Dakar and its surrounding areas. With a total investment of approximately $800 million, the Grande-Côte Project represents the largest desalination initiative ever undertaken in West Africa. The project will be delivered in two phases, each providing 200,000 m³/day of desalinated water. Financial close is expected to be achieved by 2026 and full commercial operations by 2031. The Grande-Côte Project is structured as a long-term partnership with SONES, aiming to strengthen Senegal's water infrastructure and resilience. Its full reliance on green electricity, sourced from Senegal's national grid through a dedicated supply agreement with state-owned electricity company SENELEC, positions it as one of the few large-scale desalination plants globally to operate entirely on renewable energy. Raad Al Saady, Vice Chairman and Managing Director of Acwa Power, commented: "The signing of these crucial agreements for the Grande-Côte seawater desalination project underscores Acwa Power's unwavering commitment to sustainable development and our role as a trusted partner in addressing global water challenges. We are incredibly proud to collaborate with the Government of Senegal and SONES to bring this vital infrastructure to fruition, securing a sustainable water future for Dakar and its communities, and setting a new benchmark for environmentally responsible desalination worldwide." The signing ceremony, held at the Presidential Palace in Dakar, saw the formalisation of the Public-Private Partnership (PPP) contract and the Accord de Soutien de l'État or Government Support Agreement (GSA).
Daily Mail
18-07-2025
- Business
- Daily Mail
Now Trump is blamed for $2bn surge in cost of building reservoir in drought-plagued California
California 's most ambitious water infrastructure project in nearly half a century has just become a whole lot more expensive - and President Donald Trump is being blamed for part of the staggering price surge. Planners behind the colossal Sites Reservoir, a sprawling basin that could one day provide drinking water to more than 24 million Californians have confirmed that the cost of construction has ballooned from $4.5 billion to at much as $6.8 billion. And among the reasons cited for the $2 billion spike are the Trump tariffs imposed during the early part of this year which project leaders say are still sending shockwaves through the supply chain. 'The biggest drivers of the increase included factory shutdowns during the Covid-19 pandemic and recent tariffs from President Donald Trump,' Jerry Brown, executive director of the Sites Project Authority (no relation to the former governor), told the Press Democrat. 'Increasing costs are never looked forward to, but they are something that is a fact of life.' He attributed the jump to inflation for steel, concrete, and other building materials since 2021. The revelation has ignited fresh political tensions in the Golden State, where Governor Gavin Newsom 's administration has been pushing hard to shore up water infrastructure amid escalating climate extremes. The Sites project - a reservoir so massive it would stretch 13 miles long and four miles across in Colusa County - is fast becoming a flashpoint in the long-running battle over water, money, and environmental priorities. Nearly 70 residents in Antelope Valley are expected to lose their homes as the basin swallows up swaths of Colusa County. For them, the price tag isn't measured in billions of dollars, but in broken lives and uprooted communities. 'Scores of people are set to see their homes flooded,' read a previous report on the project's local impact, which has been more than 45 years in the making. If completed, the Sites Reservoir would become California's eighth-largest, holding 1.5 million acre-feet of water, or nearly 490 billion gallons - intended primarily for use in Southern and Central California, as well as the Bay Area. Construction is still slated to begin next year with completion by 2033, Brown said. But rising costs may force tough decisions on funding and prioritization. Although the Sites project received backing from both Congress and the Biden administration, with nearly $365 million in federal grants over the past three years, the newly projected cost spike has become a political lightning rod particularly as Trump-era tariffs are now being identified as a contributing factor. On Wednesday, Brown presented the updated cost to the nine-member State Water Commission, which has already set aside $875 million in Proposition 1 bond funds for the project. Commissioner Daniel Curtin said 22 water agencies have committed planning money, with 16 more on a waiting list seeking extra water capacity. 'The rubber hits the road when the money comes,' Curtin said. 'But it sounds like the commitments are pretty strong.' Commissioner Jose Solorio added: 'All of the state would benefit from the construction of this project.' California Republicans have largely avoided commenting on the tariff connection, while environmental groups are using the moment to revive their long-standing opposition to the plan. 'The Sites Reservoir would harm the Sacramento River ecosystem, threaten already imperiled fish species, and release greenhouse gas pollution,' argued a lawsuit filed by conservationists, later dismissed in Yolo County Superior Court. 'The project will cause much environmental harm, which falls on the public, and a small amount of good, which primarily benefits the project investors,' added Stork, senior policy advocate at Friends of the River. 'Among other harms, the reservoir will be a major greenhouse gas emitter. A recent analysis estimated that Sites would emit the equivalent of 80,000 gasoline-powered cars each year.' Opponents lost their appeal last year, but they aren't backing down. 'It's not surprising,' said Ron Stork, policy director at Friends of the River. 'Large mega-projects typically escalate in costs considerably from their initial estimates. There's a reason why these dams haven't been built yet.' Stork added, 'We'll have to see if the wealthy urban water districts in Southern California and the Bay Area want to continue to invest in this project.' He estimated that the Sites Reservoir's odds of being built now stand at 'about 50-50.' The backlash hasn't deterred Governor Newsom, who has thrown his full support behind the project as part of his broader water resilience strategy. 'We are going to need more storage projects with climate change,' said Matt Keller, a spokesperson for the Santa Clara Valley Water District, one of the project's backers. 'Our board is evaluating several different water supply projects from around Northern California and locally, and has been following this one for a while.' 'The longer we wait and the longer it takes to get this done, the more expensive it becomes,' Brown told reporters. 'Even though it is costing more, it is still something we need to do badly.' He compared Sites to a savings account for future droughts: 'People look at all the water running through rivers in wet winters and say why can't we save more of that?' Proponents argue that Sites is uniquely positioned to capture 'excess water from major storms' and store it for drier years, which are increasingly common as global temperatures rise. But for critics, the project epitomizes the high environmental and social cost of mega-infrastructure in an era of climate uncertainty. 'It's very difficult to justify the expense and environmental costs of big surface storage infrastructure projects,' said John Buse, an attorney at the Center for Biological Diversity. 'The Sites Reservoir will cause far more harm than good.' Ironically, the project's price hike comes after a rare string of wet winters that have filled existing reservoirs to capacity. Shasta Lake and Lake Oroville both overflowed for a third consecutive year in 2025. Had the reservoir already existed, Brown noted, Sites could have captured runoff from the past two wet winters. 'It would have filled to the top,' he said, adding that it would have diverted only about 3% of Delta flows during the wettest months. But experts warn that complacency is dangerous. With California's precipitation increasingly concentrated into short, intense bursts followed by prolonged dry spells, the need for storage remains urgent. 'Water scarcity is always just around the corner,' the project's website warns. Brown acknowledged that the project has drawn sharp scrutiny - but said history is on its side. 'Rarely when looked back upon 20, 40 or 60 years later are these projects regretted in terms of the benefits to society,' he said. 'These are hard decisions to make as a society, but we are building this for ourselves and future generations.'
Bloomberg
17-07-2025
- General
- Bloomberg
Why Access to Running Water Is a Luxury in Wealthy US Cities
By and Klara Auerbach Across the world, access to clean running water has long been considered a key marker of economic advancement. Yet in several of the most prosperous cities in the richest nation on Earth, the share of households living without that critical service is climbing—a trend that researchers say demands attention, particularly as President Donald Trump moves to sharply pare back federal funding for water infrastructure. Katie Meehan, a professor of environmental justice at King's College London, has for years been studying what she and other researchers call 'plumbing poverty' in the US. Utility shut-offs because of nonpayment or substandard housing where landlords fail to properly maintain properties are the main factors behind the problem.
Zawya
14-07-2025
- Business
- Zawya
Novel project to enhance Qatar's water security
Qatar - bNovate Technologies, a leader in advanced microbial water quality monitoring, will partner with Hamad Bin Khalifa University ( HBKU) in the SMART-Distribution project, a pioneering initiative to address critical challenges in Qatar's water distribution networks. The project seeks to enhance the resilience of Qatar's water infrastructure against climate-induced risks through innovative, real-time water quality monitoring and advanced risk assessment tools. The SMART-Distribution project, led by the Sustainability Division at HBKU's College of Science and Engineering ( CSE), in collaboration with bNovate and end-user Kahramaa, aims to increase the resilience of drinking water systems, enhancing both robustness and adaptability. This partnership will ensure the implementation of an agile, risk-based monitoring system that provides real-time data on water quality during storage and distribution. Water security in Qatar faces escalating threats from climate change, including limited freshwater resources and reliance on vulnerable alternative sources such as seawater desalination. This project will assess the climate readiness of Qatar's water distribution networks through a robust resilience and risk assessment framework . It will also deploy a real-time monitoring network mobile platform and evaluate water quality variations under controlled environments and real-world conditions at Qatar Foundation's Education City, serving as a Living Lab . Peter Desmond, assistant professor, CSE, emphasised the initiative's importance: 'The SMART-Distribution project represents a critical step forward in ensuring the resilience of Qatar's water infrastructure. By leveraging state-of-the-art technologies and collaborative innovation, we address current challenges and pave the way for sustainable water security in the face of climate change.' bNovate's CTO, Luigino Grasso, highlighted the company's role in the project: 'bNovate is thrilled to contribute our expertise in microbial water quality monitoring to this transformative project. Our advanced flow cytometry technology will be key in understanding microbial regrowth potential and biofilm development, enabling smarter, data-driven decisions to safeguard Qatar's water supply. This collaboration underscores our commitment to delivering market-led innovations that address real-world challenges.' The SMART-Distribution project aligns with the ambitious targets of Qatar's National Water Management Plan 2030, ensuring reliable water security amidst emergent climate-induced challenges. By fostering collaboration between HBKU, bNovate, and Kahramaa, the project adopts a cyclic innovation approach to generate tangible, end-user-focused solutions. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
