In short: His April-2025 pick (~$23) — a subscale Permian produced-water player taken out by Western Midstream at $25. Still loves the water thesis ("a decade-plus of growth in price and volume") but sees better ways to play it now (→ LandBridge).
Aris handles the huge volumes of salty wastewater that come up alongside Permian oil drilling — treating, moving and disposing of it. It was his April-2025 pick (~$23) and got bought out by Western Midstream at $25.
He still loves the long-term water-handling theme ("a decade-plus of growth in price and volume"), but with Aris gone he now sees better ways to play it — chiefly LandBridge.
49:45When you recommended it was trading around 23 bucks. It got taken out by Western Midstream Partners at $25. Tell me about Did you like that deal? What's going on with water in general? — The thesis with water is I think it's pretty simple. The Permian Basin is almost perhaps the most important reservoir in global oil supply and demand balances.
In short: "Eris" in the call — a ~$1.3B Permian produced-water recycler "nobody on Wall Street was looking at" when flagged Aug 25, 2024; up 40–50% on a real, growing need, beat earnings, ran from the mid-teens to ~23 — sold in the low 20s.
Garbled as "Eris" in the call, this is Aris Water Solutions — a small (~$1.3 billion) company that collects, recycles and disposes of the huge volumes of salty water that come up when drillers pump oil in the Permian basin of west Texas. It's a real, growing need that Wall Street was ignoring.
They flagged it in late August 2024; it then jumped 40–50% as investors woke up to the demand and the company beat earnings, running from the mid-teens to about $23. They sold in the low $20s — another infra winner banked early.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.