Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 349

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 349
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 LLC, a Delaware limited liability company (“EVX I”), and EVX Eagle Ford Holdings LLC, a Delaware limited liability company (“EEF”), completed a combination transaction, pursuant to which each of WB NDB, EVX I and EEF contributed all of their equity interests in their respective wholly owned operating subsidiaries to NDB Holdings LLC, a Delaware limited liability company (“Holdings”), in exchange for membership interests in Holdings. Following such merger, funds affiliated with Five Point Energy Fund I LP, Five Point Energy Fund II LP and Five Point Energy Fund III LP collectively hold a 65.8% indirect ownership in the Company.

On March 28, 2023, Holdings contributed all of its equity interests in the Company to NDB Intermediate Holdings LLC, a Delaware limited liability company (“Intermediate Holdings”).

Effective as of May 1, 2023, Holdings and WPX Energy Permian, LLC, a Delaware limited liability company (“Devon”), entered into a Contribution Agreement, whereby (a) Holdings contributed all of its equity interests in its wholly owned subsidiaries, including Intermediate Holdings, and (b) Devon contributed all of its equity interests in Stateline Water, LLC, an Oklahoma limited liability company (“Stateline Water”), to a newly formed entity, NDB Midstream LLC, a Delaware limited liability company (“NDB Midstream”). NDB Midstream subsequently contributed all of its equity interest in Stateline Water to the Company. Following these contributions, Holdings and Devon owned 70% and 30%, respectively, in NDB Midstream. The Company is a wholly owned subsidiary of NDB Midstream.

The Company provides water management solutions through integrated pipeline and water handling networks located in the Northern Delaware Basin in west Texas and southern New Mexico and in the Eagle Ford Basin in south Texas. Through its networks, the Company gathers, transports, treats, recycles, stores, and/or handles water produced from oil and gas exploration and production (“E&P”) activities. As part of the water handling process, we separate, recover, and sell crude oil, also known as skim oil. The Company also sells brackish water to E&P companies for use in drilling and completion operations. Our assets consist of produced water handling and recycling facilities, brackish water wells and ponds, water pipeline systems and related facilities. The water handling activities are generally supported by long-term, fixed-fee contracts and acreage dedications. The Company also provides crude gathering and transportation services in the Eagle Ford Basin.

Corporate Reorganization

On July 1,