•
the degree to which
consolidation among our customers may affect spending on U.S.
drilling and completions;
•
trends and volatility in oil
and gas prices, and our ability to manage through such
volatility;
•
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;
•
regional impacts to our
business, including our key infrastructure assets within the
Bakken, the Northern Delaware portion of the Permian Basin, and the
Haynesville;
•
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;
•
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;
•
growing demand for electric
vehicles that may result in reduced demand for gasoline and
therefore the demand for our services;
•
our ability to hire and retain
key management and employees, including skilled labor;
•
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;
•
our health, safety and
environmental performance;
•
the impact of competition on
our operations;
•
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;
•
our level of indebtedness and
our ability to comply with covenants contained in our senior
secured sustainability-linked credit facility or future debt
instruments;
•
delays or restrictions in
obtaining permits by us or our customers;
•
constraints in supply or
availability of equipment used in our business;
•
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;
•
changes in global political or
economic conditions, generally, and in the markets we serve,
including the rate of inflation and potential economic
recession;
•
acts of terrorism, war or
political or civil unrest in the U.S. or elsewhere;
•
accidents, weather, natural
disasters or other events affecting our business; and
•
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.