美國

證券交易委員會

華盛頓特區20549

表格 10-Q

☒	根據1934年證券交易所法案第13或15(d)條的季報告

截至2024年6月30日季度結束 2024年9月30日

或

☐

過渡期從______到_____。

委員會檔案編號： 001-40955

Aris Water Solutions, Inc.

（依憑章程所載的完整登記名稱）


特拉華州	87-1022110
(成立地或組織其他管轄區)	（聯邦稅號）

9651 Katy Freeway, Suite 400

休斯頓, 德克薩斯州

77024

(總部辦公地址)

（郵政編碼）

(832) 304-7003

(註冊人電話號碼，包括區號)

(如與上次報告不同，列明前名稱、前地址及前財政年度)

根據法案第12(b)條註冊的證券：



每種類別的名稱	交易標的（s）	每個註冊交易所的名稱
普通A級股票，每股面值為$0.01	ARIS	紐約證券交易所

請檢查標記，確認註冊商是否(1)在過去的12個月內(或更短的期限，註冊商在該期限內需要提交此類報告)提交了證券交易法1934年第13條或15(d)條要求提交的所有報告；並且(2)過去90天一直受到此類報告的要求。是 ☒ No☐

請勾選標記，以確認註冊商是否已在過去的12個月內(或更短的期限，註冊商在該期限內需要提交此類文件)依據《S-t规章》第405条(本章节第232.405条)提交了要求提交的每个交互式数据文件。是 ☒ No☐

請勾選標記，以確認註冊商是一家大型加速檔案人，加速檔案人，非加速檔案人，小型報告公司還是新興增長型公司。请参见《交易法》第1202条中“大型加速檔案人”、“加速檔案人”、“小型報告公司”和“新興增長型公司”的定义。


大型加速歸檔人	☐	加速歸檔人	☒
非加速歸檔人	☐	小型報告公司	☐
		新興成長型企業	☒

如果新興成長公司已選擇不使用根據《交易法》第13(a)條規定提供的任何新或修訂財務會計準則的延長過渡期，請勾選。 ☐

檢查標記指示申報人是否為空殼公司（如Exchange Act第120億2條的定義）。是☐ 否☒

截至2024年11月1日，登記人持有 30,682,834 股，以及普通股b類，每股面額0.01美元，共有 27,543,565 股發行。


第一部分財務資料
有關前瞻性聲明的注意事項		3
項目一。	財務報表（未經審核）	5
簡明綜合資產負債表		5
簡明綜合營運報表		6
簡明綜合現金流量報表		7
簡明綜合股東權益表		8
未經審核簡明綜合財務報表附註		9
項目二。	管理層對財務狀況及營運結果進行討論及分析	25
項目三.	有關市場風險的定量和定性披露	39
項目四.	控制和程序	40
第二部分其他資訊		40
項目一.	法律程序	40
項目 1A。	風險因素	40
項目二.	非登記股份證券銷售及所得款項的使用	41
第三項目。	高級證券違約	41
項目四.	礦山安全披露	41
第五項。	其他資訊	41
第六項	展品	41
簽名		43

關於前瞻性陳述的警語

本季度10表格‑Q（本“季度報告”）包含根據1933年證券法修正案第27A條（“證券法”），以及根據1934年證券交易法修正案第21E條（“交易法”）內容的“前瞻性聲明”。本季度報告中除了歷史事實陳述之外的所有陳述，包括但不限於我們未來營運結果、財務狀況、業務策略、未來營運的管理計劃和目標等均屬前瞻性聲明。在某些情況下，您可以通過術語如“預期”、“指引”、“初步”、“項目”、“估計”、“展望”、“期望”、“持續”、“將”，“打算”，“計劃”，“目標”，“相信”，“預測”，“未來”，“潛在”，“應該”，“可能”，“可能”，“可能”，“可能”，“可能”，“可能”，“可能”，“可能”等詞彙或類似表達來識別前瞻性聲明。

您不應將前瞻性聲明作為對未來事件的預測。我們主要基於我們對可能影響我們業務、財務狀況和營運結果的未來事件和趨勢的目前期望和預測，來制定本季度報告中包含的前瞻性聲明。這些前瞻性聲明所描述事件的結果受風險、不確定性和其他因素影響，這些因素在我們截至2023年12月31日年度報告列明的“風險因素”部分以及本季度報告中其他地方有所描述，包括但不限於以下內容：

●

就持續進行中的俄烏及中東衝突對全球經濟的影響，包括對金融市場和能源行業的影響進行評估；

●

油氣公司的資本支出和開發水平，包括在商品價格波動和／或需求減少的情況下，油氣生產商是否可能減少資本支出；

●

我們對有限數量的客戶和特定地域板塊為我們絕大部分收入的依賴;

●

競爭對我們業務的影響，包括我們是否能夠以可接受的條件續簽或更新到期合同的能力；

●

我們的勘探和生產客戶選擇自行經營其水務業務而非將這些業務外包給我們等公司的程度；

●

我們客戶完成並生產新井的能力；

●

與收購和有機增長項目相關的風險，包括我們實現其預期利益的能力；

●

區域型油氣和水收集、處理和管道系統的容量限制導致鑽井和完井活動減緩或延遲，進而導致對我們服務的需求減緩或延遲；

●

我們保留重要管理人員和員工以及招聘和保留熟練勞動力的能力；

●

我們的健康、安全和環保表現；

●

當前和未來法律、裁決和聯邦和州政府法規的影響，包括與水力壓裂、取水、處置生產水、碳排放有關的法規


(in thousands, except for share and per share amounts)	September 30,		December 31,
	2024		2023
Assets
Cash	$	32,760	$	5,063
Accounts Receivable, Net		69,854		59,393
Accounts Receivable from Affiliate		31,192		22,963
Other Receivables		15,292		12,767
Prepaids and Deposits		4,459		8,364
Total Current Assets		153,557		108,550
Fixed Assets
Property, Plant and Equipment		1,125,295		1,041,703
Accumulated Depreciation		(150,867)		(121,989)
Total Property, Plant and Equipment, Net		974,428		919,714
Intangible Assets, Net		204,487		232,277
Goodwill		34,585		34,585
Deferred Income Tax Assets, Net		15,966		22,634
Operating Lease Right-of-Use Assets, Net		15,650		16,726
Other Assets		5,986		5,995
Total Assets	$	1,404,659	$	1,340,481
Liabilities and Stockholders' Equity
Accounts Payable	$	13,510	$	25,925
Payables to Affiliate		938		894
Insurance Premium Financing Liability		—		5,463
Accrued and Other Current Liabilities		74,830		64,416
Total Current Liabilities		89,278		96,698
Long-Term Debt, Net of Debt Issuance Costs		452,194		421,792
Asset Retirement Obligations		21,499		19,030
Tax Receivable Agreement Liability		98,274		98,274
Other Long-Term Liabilities		16,650		16,794
Total Liabilities		677,895		652,588
Commitments and Contingencies (see Note 10)
Stockholders' Equity
Preferred Stock $0.01 par value, 50,000,000 authorized. None issued or outstanding as of September 30, 2024 and December 31, 2023		—		—
Class A Common Stock $0.01 par value, 600,000,000 authorized, 31,139,032 issued and 30,582,305 outstanding as of September 30, 2024; 30,669,932 issued and 30,251,613 outstanding as of December 31, 2023		311		306
Class B Common Stock $0.01 par value, 180,000,000 authorized, 27,543,565 issued and outstanding as of September 30, 2024 and December 31, 2023		275		275
Treasury Stock (at Cost), 556,727 shares as of September 30, 2024; 418,319 shares as of December 31, 2023		(6,822)		(5,133)
Additional Paid-in-Capital		337,609		328,543
Retained Earnings (Accumulated Deficit)		11,332		(87)
Total Stockholders' Equity Attributable to Aris Water Solutions, Inc.		342,705		323,904
Noncontrolling Interest		384,059		363,989
Total Stockholders' Equity		726,764		687,893
Total Liabilities and Stockholders' Equity	$	1,404,659	$	1,340,481


	Three Months Ended				Nine Months Ended
(in thousands, except for share and per share amounts)	September 30,				September 30,
	2024		2023		2024		2023
Revenue
Produced Water Handling	$	59,006	$	47,574	$	172,927	$	143,390
Produced Water Handling — Affiliate		29,418		28,036		84,859		74,357
Water Solutions		16,600		20,370		42,097		49,180
Water Solutions — Affiliate		4,225		3,048		12,920		19,195
Other Revenue		3,063		761		4,032		1,871
Total Revenue		112,312		99,789		316,835		287,993
Cost of Revenue
Direct Operating Costs		46,553		44,687		126,393		132,978
Depreciation, Amortization and Accretion		19,974		19,445		59,102		57,137
Total Cost of Revenue		66,527		64,132		185,495		190,115
Operating Costs and Expenses
Abandoned Well Costs		8		1,214		318		1,214
General and Administrative		17,415		13,526		47,953		38,007
Research and Development Expense		408		809		2,601		1,867
Other Operating (Income) Expense, Net		(358)		(2,121)		379		(2,096)
Total Operating Expenses		17,473		13,428		51,251		38,992
Operating Income		28,312		22,229		80,089		58,886
Other Expense
Interest Expense, Net		9,382		7,955		26,633		23,587
Other		—		—		1		—
Total Other Expense		9,382		7,955		26,634		23,587
Income Before Income Taxes		18,930		14,274		53,455		35,299
Income Tax Expense		2,499		2,032		7,082		4,918
Net Income		16,431		12,242		46,373		30,381
Net Income Attributable to Noncontrolling Interest		8,943		6,829		25,297		16,892
Net Income Attributable to Aris Water Solutions, Inc.	$	7,488	$	5,413	$	21,076	$	13,489

Net Income Per Share of Class A Common Stock
Basic	$	0.23	$	0.17	$	0.64	$	0.42
Diluted	$	0.22	$	0.17	$	0.64	$	0.42
Weighted Average Shares of Class A Common Stock Outstanding
Basic		30,631,995		30,050,560		30,511,701		30,007,433
Diluted		30,919,575		30,050,560		30,621,195		30,007,433


(in thousands)	Nine Months Ended September 30,
	2024		2023
Cash Flow from Operating Activities
Net Income	$	46,373	$	30,381
Adjustments to reconcile Net Income to Net Cash provided by Operating Activities:
Deferred Income Tax Expense		5,730		4,773
Depreciation, Amortization and Accretion		59,102		57,137
Stock-Based Compensation		13,489		8,945
Abandoned Well Costs		318		1,214
Loss (Gain) on Disposal of Assets, Net		84		(2,574)
Abandoned Projects		823		128
Amortization of Debt Issuance Costs, Net		2,193		1,580
Other		422		(473)
Changes in Operating Assets and Liabilities:
Accounts Receivable		(11,039)		22,594
Accounts Receivable from Affiliate		(8,229)		22,771
Other Receivables		(3,168)		(13,359)
Prepaids and Deposits		4,056		3,564
Accounts Payable		(8,418)		(155)
Payables to Affiliate		44		(1,844)
Accrued Liabilities and Other		9,445		17,843
Net Cash Provided by Operating Activities		111,225		152,525

Cash Flow from Investing Activities
Property, Plant and Equipment Expenditures		(87,201)		(131,874)
Proceeds from the Sale of Property, Plant and Equipment		160		20,119
Net Cash Used in Investing Activities		(87,041)		(111,755)

Cash Flow from Financing Activities
Dividends and Distributions Paid		(18,192)		(16,083)
Repurchase of Shares		(1,418)		(625)
Repayment of Credit Facility		(40,000)		(51,000)
Proceeds from Credit Facility		69,000		50,000
Payment of Insurance Premium Financing		(5,634)		—
Payment of Finance Leases		(243)		—
Net Cash Provided by (Used in) Financing Activities		3,513		(17,708)

Net Increase in Cash		27,697		23,062
Cash, Beginning of Period		5,063		1,122
Cash, End of Period	$	32,760	$	24,184

Supplementary Cash Flow Data
Cash Paid for Interest	$	17,561	$	18,230
Cash Paid for Income Taxes	$	618	$	80


		Three and Nine Months Ended September 30, 2024
(in thousands, except for share and per share amounts)		Class A			Class B			Additional					Retained Earnings				Non-			Total
		Common Stock			Common Stock			Paid-in		Treasury Stock			(Accumulated			controlling			Stockholders'
	Amount			Shares	Amount		Shares	Capital		Amount		Shares		Deficit)			Interest			Equity
Balance at January 1, 2024		$	306	30,669,932	$	275	27,543,565	$	328,543	$	(5,133)	418,319		$	(87)		$	363,989		$	687,893
Stock-Based Compensation Expense			4	428,044		-	-		4,503		-	-			-			(986)			3,521
Deferred Tax Assets Acquired			-	-		-	-		224		-	-			-			-			224
Dividends and Distributions ($0.09 per share or unit)			-	-		-	-		-		-	-			(2,884)			(2,601)			(5,485)
Purchase of Treasury Stock			-	-		-	-		(18)		(1,581)	131,921			-			18			(1,581)
Net Income			-	-		-	-		-		-	-			7,623			9,207			16,830
Balance at March 31, 2024		$	310	31,097,976	$	275	27,543,565	$	333,252	$	(6,714)	550,240		$	4,652		$	369,627		$	701,402
Stock-based Compensation Expense			-	6,250		-	-		2,509		-	-			-			2,184			4,693
Deferred Tax Liabilities Acquired			-	-		-	-		(578)		-	-			-			-			(578)
Dividends and Distributions ($0.105 per share or unit)			-	-		-	-		-		-	-			(3,382)			(3,051)			(6,433)
Purchase of Treasury Stock			-	-		-	-		-		(16)	1,048			-			-			(16)
Net Income			-	-		-	-		-		-	-			5,965			7,147			13,112
Balance at June 30, 2024		$	310	31,104,226	$	275	27,543,565	$	335,183	$	(6,730)	551,288		$	7,235		$	375,907		$	712,180
Stock-based Compensation Expense			1	34,806		-	-		3,010		-	-			-			2,264			5,275
Deferred Tax Liabilities Acquired			-	-		-	-		(584)		-	-			-			-			(584)
Dividends and Distributions ($0.105 per share or unit)			-	-		-	-		-		-	-			(3,391)			(3,055)			(6,446)
Purchase of Treasury Stock			-	-		-	-		-		(92)	5,439			-			-			(92)
Net Income			-	-		-	-		-		-	-			7,488			8,943			16,431
Balance at September 30, 2024		$	311	31,139,032	$	275	27,543,565	$	337,609	$	(6,822)	556,727		$	11,332		$	384,059		$	726,764


		Three and Nine Months Ended September 30, 2023
(in thousands, except for share and per share amounts)		Class A			Class B			Additional									Non-			Total
		Common Stock			Common Stock			Paid-in		Treasury Stock			Accumulated			controlling			Stockholders'
	Amount			Shares	Amount		Shares	Capital		Amount		Shares		Deficit			Interest			Equity
Balance at January 1, 2023		$	300	30,115,979	$	276	27,575,519	$	319,545	$	(2,891)	196,762		$	(7,722)		$	347,579		$	657,087
Redemption of Class B Shares for Class A Shares			-	20,953		-	(20,953)		267		-	-			-			(267)			-
Stock-Based Compensation Expense			2	175,717		-	-		2,383		-	-			-			83			2,468
Increase in TRA Liability Related to Share Redemption			-	-		-	-		(110)		-	-			-			-			(110)
Deferred Tax Assets Acquired			-	-		-	-		82		-	-			-			-			82
Dividends and Distributions ($0.09 per share or unit)			-	-		-	-		-		-	-			(2,826)			(2,588)			(5,414)
Purchase of Treasury Stock			-	-		-	-		-		(599)	42,293			-			-			(599)
Net Income			-	-		-	-		-		-	-			3,378			4,330			7,708
Balance at March 31, 2023		$	302	30,312,649	$	276	27,554,566	$	322,167	$	(3,490)	239,055		$	(7,170)		$	349,137		$	661,222
Redemption of Class B Shares for Class A Shares			-	524		-	(524)		7		-	-			-			(7)			-
Stock-based Compensation Expense			-	-		-	-		1,626		-	-			-			1,491			3,117
Increase in TRA Liability Related to Share Redemption			-	-		-	-		(3)		-	-			-			-			(3)
Deferred Tax Assets Acquired			-	-		-	-		2		-	-			-			-			2
Dividends and Distributions ($0.09 per share or unit)			-	-		-	-		-		-	-			(2,819)			(2,584)			(5,403)
Net Income			-	-		-	-		-		-	-			4,698			5,733			10,431
Balance at June 30, 2023		$	302	30,313,173	$	276	27,554,042	$	323,799	$	(3,490)	239,055		$	(5,291)		$	353,770		$	669,366
Redemption of Class B Shares for Class A Shares			1	10,477		(1)	(10,477)		136		-	-			-			(136)			-
Stock-based Compensation Expense			-	10,749		-	-		1,816		-	-			-			1,544			3,360
Increase in TRA Liability Related to Share Redemption			-	-		-	-		(71)		-	-			-			-			(71)
Deferred Tax Assets Acquired			-	-		-	-		48		-	-			-			-			48
Dividends and Distributions ($0.09 per share or unit)			-	-		-	-		-		-	-			(2,805)			(2,577)			(5,382)
Purchase of Treasury Stock			-	-		-	-		(73)		(769)	71,518			-			73			(769)
Net Income			-	-		-	-		-		-	-			5,413			6,829			12,242
Balance at September 30, 2023		$	303	30,334,399	$	275	27,543,565	$	325,655	$	(4,259)	310,573		$	(2,683)		$	359,503		$	678,794


(in thousands)	September 30, 2024				December 31, 2023
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Senior Sustainability-Linked Notes	$	400,000	$	403,375	$	400,000	$	405,090
Credit Facility	$	55,000	$	55,000	$	26,000	$	26,000


	September 30, 2024		December 31, 2023
Weighted Average Remaining Lease Term (Years)
Operating Leases		7.1		7.6
Finance Leases		3.8		—
Weighted Average Discount Rate
Operating Leases		6.42%		6.30%
Finance Leases		7.45%		—


(in thousands)	Operating Leases		Finance Leases		Total
Remainder of 2024	$	597	$	64	$	661
2025		2,230		257		2,487
2026		1,961		257		2,218
2027		3,302		238		3,540
2028		2,868		136		3,004
Thereafter		9,241		—		9,241
Total Lease Payments		20,199		952		21,151
Less: Interest		(4,235)		(120)		(4,355)
Present Value of Lease Liabilities	$	15,964	$	832	$	16,796


	RSUs	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2023	1,606,303	$	11.72
Granted	1,517,153		12.29
Forfeited	(64,505)		11.90
Vested ⁽¹⁾	(529,178)		11.61
Outstanding at September 30, 2024	2,529,773	$	12.08


	PSUs	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2023	404,993	$	13.06
Granted	281,527		29.38
Forfeited	(9,957)		14.23
Outstanding at September 30, 2024	676,563	$	19.83


	Assumptions
Risk-free Interest Rate		4.67%
Volatility Range	17.04% - 61.19%


(in thousands)	Three Months Ended September 30,
	2024		2023		2024 vs. 2023
Revenue
Produced Water Handling	$	59,006	$	47,574	$	11,432	24	%
Produced Water Handling—Affiliates		29,418		28,036		1,382	5	%
Water Solutions		16,600		20,370		(3,770)	(19)	%
Water Solutions—Affiliates		4,225		3,048		1,177	39	%
Other Revenue		3,063		761		2,302	302	%
Total Revenue		112,312		99,789		12,523	13	%
Cost of Revenue
Direct Operating Costs		46,553		44,687		1,866	4	%
Depreciation, Amortization and Accretion		19,974		19,445		529	3	%
Total Cost of Revenue		66,527		64,132		2,395	4	%
Operating Costs and Expenses
Abandoned Well Costs		8		1,214		(1,206)	(99)	%
General and Administrative		17,415		13,526		3,889	29	%
Research and Development Expense		408		809		(401)	(50)	%
Other Operating Income, Net		(358)		(2,121)		1,763	(83)	%
Total Operating Expenses		17,473		13,428		4,045	30	%
Operating Income		28,312		22,229		6,083	27	%
Interest Expense, Net		9,382		7,955		1,427	18	%
Income Before Income Taxes		18,930		14,274		4,656	33	%
Income Tax Expense		2,499		2,032		467	23	%
Net Income	$	16,431	$	12,242	$	4,189	34	%


		Three Months Ended			Nine Months Ended
(in thousands, except per unit amounts)		September 30,			September 30,
		2024		2023		2024		2023
Produced Water Handling Fees	$	77,428	$	67,879	$	226,137	$	195,493
Skim Oil Sales Revenue		10,996		7,731		31,649		22,254
Total Produced Water Handling Revenue	$	88,424	$	75,610	$	257,786	$	217,747

Produced Water Handling Fees/Bbl	$	0.75	$	0.70	$	0.74	$	0.70
Skim Oil Sales Revenue/Bbl		0.11		0.08		0.10		0.08
Total Produced Water Handling Revenue/Bbl	$	0.86	$	0.78	$	0.84	$	0.78


Period	Total Number of Shares Purchased		Average Price Paid Per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs

7/1/2024 - 7/31/2024	-	$	-	-	-
8/1/2024 - 8/31/2024 ⁽¹⁾	328		17.71	-	-
9/1/2024 - 9/30/2024 ⁽¹⁾	5,111		16.82	-	-
Total	5,439	$	16.87	-	-

3.1		Second Amended and Restated Certificate of Incorporation of Aris Water Solutions, Inc. (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on June 9, 2023, File No. 001-40955).

3.2		Amended and Restated Bylaws of Aris Water Solutions, Inc. (incorporated by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-8 filed on October 26, 2021, File No. 333-260499).

10.1†*		Amendment to the Aris Water Solutions, Inc. 2021 Equity Incentive Plan.

10.2†*		Amendment to the Aris Water Solutions Inc. Change in Control Severance Plan.

31.1*		Certification of Amanda M. Brock pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*		Certification of Stephan E. Tompsett pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1**		Certification of Amanda M. Brock pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


32.2**		Certification of Stephan E. Tompsett pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS*		XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH*		Inline XBRL Schema Document.

101.CAL*		Inline XBRL Calculation Linkbase Document.

101.DEF*		Inline XBRL Definition Linkbase Document.

101.LAB*		Inline XBRL Label Linkbase Document.

101.PRE*		Inline XBRL Presentation Linkbase Document.

104*		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


November 5, 2024	Aris Water Solutions, Inc.

	By:	/s/ Amanda M. Brock
		Amanda M. Brock
		President and Chief Executive Officer

		/s/ Stephan E. Tompsett
		Stephan E. Tompsett R. Schroer
		Chief Financial Officer

		/s/ Jeffrey K. Hunt
		Jeffrey K. Hunt
		Chief Accounting Officer