SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 17—SUBSEQUENT EVENTS On September 7, 2022, the Company announced that our board of directors approved the initiation of a dividend program under which the Company intends to pay regular quarterly dividends. On October 27, 2022, our board of directors declared a quarterly cash dividend of $0.05 per share of Class A Common Stock to be paid on November 17, 2022 to shareholders of record as of the close of business on November 7, 2022. A distribution of $0.05 per unit was also approved for those holders of units of SES Holdings, LLC, who also hold an equal number of shares of Class B Common Stock of the Company, which is subject to the same payment and record dates. All future dividend payments are subject to quarterly review and approval by the board of directors. On November 1, 2022, the Company closed on the announced acquisition of Breakwater Energy Services, LLC (“Breakwater”) in a stock-for-stock transaction. In consideration, the Company issued approximately 9.2 million shares of Class A Common Stock to Breakwater shareholders, subject to customary post-closing adjustments. The Company also repaid or assumed approximately $12.6 million of outstanding borrowings and other obligations in conjunction with closing. On November 1, 2022, the Company closed on the announced acquisition of certain saltwater disposal assets of Cypress Environmental Solutions, LLC (“Cypress”) in an all-stock transaction. In consideration, the Company issued approximately 950,000 shares of Class A Common Stock to Cypress.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2022

NOTE 17—SUBSEQUENT EVENTS

On September 7, 2022, the Company announced that our board of directors approved the initiation of a dividend program under which the Company intends to pay regular quarterly dividends. On October 27, 2022, our board of directors declared a quarterly cash dividend of $0.05 per share of Class A Common Stock to be paid on November 17, 2022 to shareholders of record as of the close of business on November 7, 2022. A distribution of $0.05 per unit was also approved for those holders of units of SES Holdings, LLC, who also hold an equal number of shares of Class B Common Stock of the Company, which is subject to the same payment and record dates. All future dividend payments are subject to quarterly review and approval by the board of directors.

On November 1, 2022, the Company closed on the announced acquisition of Breakwater Energy Services, LLC (“Breakwater”) in a stock-for-stock transaction. In consideration, the Company issued approximately 9.2 million shares of Class A Common Stock to Breakwater shareholders, subject to customary post-closing adjustments. The Company also repaid or assumed approximately $12.6 million of outstanding borrowings and other obligations in conjunction with closing.

On November 1, 2022, the Company closed on the announced acquisition of certain saltwater disposal assets of Cypress Environmental Solutions, LLC (“Cypress”) in an all-stock transaction. In consideration, the Company issued approximately 950,000 shares of Class A Common Stock to Cypress.