May 17, 2019 / 5:15 PM / 3 days ago

Select Energy Services exploring options, including sale: Bloomberg

(Reuters) - U.S. oilfield services company Select Energy Services Inc is in early stages of considering selling itself, Bloomberg reported on Friday, citing sources with knowledge of the matter.

The company, a provider of water to shale drillers, is yet to make a final decision and could opt to remain independent, the report said, adding that it was in talks with advisers to explore options.

The company did not immediately respond to a Reuters request for comment.

The demand for water, used in drilling and completion activities associated with fracking, has been rising, with a surge in oil production in the United States on the back of the shale revolution.

Once managed individually by energy producers, the job of supplying, collecting and disposing of water is a rising cost and has spawned a $34 billion a year business in the United States, luring investors including TPG Capital, Blackstone Energy Partners LP and Ares Management Corp to back these firms.

Shares of the company rose 6.3% to $12.60 in afternoon trade.

Reporting by Shradha Singh in Bengaluru; Editing by Arun Koyyur

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