Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 158

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 158
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; 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 $5.0 million, personnel-related expenses of $1.9 million, third-party offload expenses of $0.9 million and waste disposal costs of $0.6 million. The higher operating costs are directly correlated to higher water volumes handled or recycled and scaling of the business. Depreciation, amortization and accretion. Depreciation, amortization and accretion increased $3.1 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 $2.6 million in depreciation expense related to continued high levels of capital investment activity and an increase of $0.6 million in amortization expense associated with intangible assets acquired in May 2024.

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