Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 165

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 165
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 as compared with the six months ended June 30, 2024 primarily attributable to higher royalty expense of $12.8 million, site utilities and power of $8.0 million, personnel-related expenses of $3.4 million, third-party offload expenses of $1.5 million, production tax on skim oil sales of $0.5 million, and waste disposal expenses of $0.4 million associated with increased water handling volume. The higher operating costs are directly correlated to higher water volumes handled or recycled and scaling of the business and assets. Depreciation, amortization and accretion. Depreciation, amortization and accretion increased $5.2 million for the six months ended June 30, 2025 as compared with the six months ended June 30, 2024 primarily due to an increase of

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$2.9 million in depreciation expense related to continued high levels of capital investment activity and an increase of $2.3 million in amortization expense associated with intangible assets acquired in May 2024.

|                                                                        |     | Six Months Ended June 30, |   2025 |     |   |   2024 |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:-----------------------------------------------------------------------|:----|:--------------------------|-------:|:----|:--|-------:|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| General and administrative expense, excluding share-based compensation |     | $                         | 12,891 |     | $ | 11,347 |     | $         |      1,544 |   |     |            |     14 | %  |
| Share-based compensation                                               |     |                           |  1,284 |     |   |  8,711 |     |           |     (7,427 | ) |     |            |    (85 | )% |
| Total general and administrative expense                               |     | $                         | 14,175 |     | $ | 20,058 |     | $         |     (5,883 | ) |     |            |    (29 | )% |

General and administrative expense. General and administrative expense, excluding shared-based compensation expense, increased by $1.5 million for the six months ended June 30, 2025, compared