Nuverra Environmental Solutions ($NES@US) rose more than 25% to $2.27 in premarket trading today after the company agreed to be acquired by Select Energy Services ($WTTR@US) for roughly $45 million. Nuverra shares were up 122% to $3.09 in morning trading with heavy volume. Select Energy Services, a provider of water and chemical solutions to the U.S. unconventional oil and gas industry, said it would acquire Nuverra with the assumption of about $20 million of long-term debt. Nuverra stockholders will receive about 4.2 million shares of Select Class A common stock in exchange for all outstanding shares of Nuverra. Select Energy Shares were down 5% to $6.14. Nuverra is an energy-focused environmental solutions company that provides comprehensive, full-cycle environmental solutions. These include removal, treatment, recycling, transportation, and disposal of restricted solids, fluids, and hydrocarbons for exploration and production companies operating throughout the U.S.
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