Company: WBI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-278007
Chunk: 5

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 5
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The following discussion and analysis of our financial condition and results of operations is based on, and should be read in conjunction with, our Financial Statements and notes thereto in Part I, Item 1. “Financial Statements” of this Quarterly Report. The following discussion contains “forward-looking statements” reflecting our current expectations, future plans, estimates, beliefs and assumptions concerning events and financial trends that may affect our future results of operations, cash flows and financial position. Our actual results and the timing of events may differ materially from those contained in these forward-looking statements due to a number of factors, including certain factors outside our control. Factors that could cause or contribute to such differences include, but are not limited to, market prices for oil and natural gas, production volumes, economic and competitive conditions, regulatory changes and other uncertainties, as well as those factors discussed in the section entitled “Risk Factors” in our prospectus, dated September 16, 2025, filed with the SEC pursuant to Rule 424(b) under the Securities Act on September 18, 2025 in connection with the IPO, as well as the factors discussed below and elsewhere in this Quarterly Report, particularly in the sections titled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” all of which are difficult to predict. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. We assume no obligation to publicly update any of these forward-looking statements except as otherwise required by applicable law. 

The historical financial information in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for the Company reflects only the historical financial results of NDB Operating, our predecessor for SEC reporting purposes prior to September 17, 2025, and does not give pro forma effect to the transactions described in the sections titled “—IPO” and “WaterBridge Combination and Corporate Reorganization” below. Separate historical results of WBEF, our other accounting predecessor, are presented following the historical financial results of the Company and do not give pro forma effect to the transactions described in the section titled “—WaterBridge Combination and Corporate Reorganization” below. The WaterBridge Combination and the Corporate Reorganization are each reflected in the historical financial information of the Company in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” solely from and after its respective date of completion.

Overview

We are a leading integrated, pure-play water infrastructure company with operations predominantly in the Delaware Basin, the most prolific oil and natural gas basin