Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 148

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 148
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 revenues |                          | $                           |   0.81 |     | $ |   0.76 |     | $         |       0.05 |     |            |      7 | % |

(1) Skim oil realization is calculated as skim oil revenue divided by produced water handling volumes. Produced water handling revenues increased $25.9 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily due to: • an increase of $18.4 million due to a 293 MBbl/d volume increase driven primarily by East Stateline acquired assets in May 2024 and increased organic commercial growth and completion activity, and an increase of $4.5 million related to higher prices for produced water volumes handled; and • an increase of $3.0 million in skim oil revenues primarily due to $5.2 million related to increased produced water handling volume and higher skim recoveries per barrel of water handled, partially offset $2.2 million due to lower realized prices. Water Solutions Revenues Water solutions revenues decreased $1.7 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily due to: • a decrease of $1.6 million related to lower average price due to lower weighting of treated recycled water sales volumes to untreated recycled water volumes, and a decrease of $0.3 million due to a 32 MBbl/d treated water volume decrease partially offset by a 23 MBbl/d untreated water volume increase with the net decrease attributable to lower demand used in conjunction with upstream drilling and completion activity; and • an increase of $0.2 million due to a 4 MBbl/d brackish water volume increase related to brackish water supply assets acquired in May 2024.

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Other Revenues. Other revenues decreased $2.6 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 due to the divestment of crude gathering and transportation assets in March 2025. Direct Operating Costs. Direct operating costs increased $13.9 million, or $0.04 per barrel, for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily attributable to higher site utilities and power of $5.4 million, royalty expense of