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the degree to which consolidation among our customers may affect spending on U.S. drilling and completions;
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trends and volatility in oil and gas prices, and our ability to manage through such volatility;
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the impact of current and future laws, rulings and governmental regulations, including those related to hydraulic fracturing, accessing water, disposing of wastewater, transferring produced water, interstate freshwater transfer, chemicals, carbon pricing, pipeline construction, taxation or emissions, leasing, permitting or drilling on federal lands and various other environmental matters;
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regional impacts to our business, including our key infrastructure assets within the Bakken, the Northern Delaware portion of the Permian Basin, and the Haynesville;
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capacity constraints on regional oil, natural gas and water gathering, processing and pipeline systems that result in a slowdown or delay in drilling and completion activity, and thus a decrease in the demand for our services in our core markets;
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regulatory and related policy actions intended by federal, state and/or local governments to reduce fossil fuel use and associated carbon emissions, or to drive the substitution of renewable forms of energy for oil and gas, may over time reduce demand for oil and gas and therefore the demand for our services;
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growing demand for electric vehicles that may result in reduced demand for gasoline and therefore the demand for our services;
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our ability to hire and retain key management and employees, including skilled labor;
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our access to capital to fund expansions, acquisitions and our working capital needs and our ability to obtain debt or equity financing on satisfactory terms;
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our health, safety and environmental performance;
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the impact of competition on our operations;
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the degree to which our exploration and production customers may elect to operate their water-management services in-house rather than source these services from companies like us;
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our level of indebtedness and our ability to comply with covenants contained in our senior secured sustainability-linked credit facility or future debt instruments;
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delays or restrictions in obtaining permits by us or our customers;
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constraints in supply or availability of equipment used in our business;
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the impact of advances or changes in well-completion technologies or practices that result in reduced demand for our services, either on a volumetric or time basis;
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changes in global political or economic conditions, generally, and in the markets we serve, including the rate of inflation and potential economic recession;
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acts of terrorism, war or political or civil unrest in the U.S. or elsewhere;
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accidents, weather, natural disasters or other events affecting our business; and
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the other risks identified in this prospectus, any applicable prospectus supplement and the documents incorporated by reference.
These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could have material adverse effects on our future results. Our future results will depend upon various other risks and uncertainties, including those described elsewhere in this prospectus, any applicable prospectus supplement and the documents incorporated by reference. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. All forward-looking statements attributable to us are qualified in their entirety by this cautionary note.