American Water Works Co. (NYSE: AWK), the largest publicly traded water utility in the U.S., is in discussions about providing additional services to fracking companies, CEO Susan Story said, Bloomberg reported Oct. 7.
The Voorhees, N.J.-based company also is in talks with energy producers on ways to reuse water from hydraulic fracturing that otherwise would have to be disposed of, Story said in an interview in New York Oct. 6.
“We’re in talks to see if we can treat water, to see if more can be reused, so there’s less of it that they have to deal with,” she said. “The only way we would do it is if we can do it safely and provide solutions that are sustainable.”
It’s too early to name the companies involved or how adding such services might affect American Water’s balance sheet, she said. American Water plans to continue its expansion into wastewater offerings and serving U.S. military bases.
American Water on Aug. 29 said it won a $297 million, 50-year contract to own, operate and maintain water and wastewater systems at the Picatinny Arsenal military research facility in New Jersey.
With the U.S. Defense Department requesting proposals linked to about $11 billion of water-related projects, the company plans to bid on any works in the $250 million to $500 million range, Story said. She was promoted to CEO from CFO in May, replacing Jeff Sterba, who retired.
American Water's shares have risen 13% this year compared with a 4% gain by the 20-member Bloomberg World Water Index.
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