וַֽיַּחְפְּרוּ֙ בְּאֵ֣ר אַחֶ֔רֶת וַיָּרִ֖יבוּ גַּם־עָלֶ֑יהָ וַיִּקְרָ֥א שְׁמָ֖הּ שִׂטְנָֽה׃
And they digged another well, and they strove for that also. And he called the name of it Sitnah.
Zohar
"And he called the name of it Rechovot" (Beresheet 26:22). For this reason, its springs will spread on all sides, as it is written, "So will your spring be dispersed abroad, and streams of water will flow in the broad places (Heb. רְחֹבֹת)" (Mishlei 5:16). For this reason, "he called the name of it Rechovot."