Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 11

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 11
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 our revenues under long-term, fixed-fee contracts in the Delaware Basin. As of March 31, 2025, the weighted average remaining term of our contracts in the Delaware Basin was approximately years.

We believe that our infrastructure network provides a competitive advantage relative to the alternatives available to E&P companies, including developing their own water management infrastructure networks, which requires significant capital investment. We believe that our strategically located infrastructure provides us with significant growth opportunities to expand our current dedicated acreage and broaden our customer base.

We developed our infrastructure network with operational redundancies designed to ensure we deliver water management solutions during maintenance activities or other temporary interruptions, providing our customers the assurance that we will handle their water management needs reliably and consistently. This flow assurance is of paramount importance to E&P companies because any prolonged interruption in produced water handling necessitates curtailing oil and natural gas production from affected wells, resulting in lower production volumes and decreased revenue for the producer. Our fit-for-purpose technology solutions and centralized operations center further enhance our ability to provide flow assurance to our customers by allowing real-time monitoring and optimization of our water management operations via a network of sensors, meters, cameras, and in-field computers. We believe that our ability to provide reliable flow assurance is a competitive advantage that enables us to attract new customers and obtain additional business from existing customers.

We share a financial sponsor, Five Point, and our management team with LandBridge. As of March 31, 2025, LandBridge owned approximately 276,000 surface acres in and around the Delaware Basin. Five Point and our management team initially formed LandBridge to acquire, manage and expand a strategic land position in the heart of the Delaware Basin to support the development of our large-scale water infrastructure network, including by providing access to pore space for handling produced water that has been gathered and transported on our pipelines. Additionally, these relationships provide our shared management team visibility into key areas of oil and natural gas production and long-term trends that have materialized into commercial successes for us, including a strategic partnership with Devon and recent commercial agreements with bpx energy Inc. (“bpx energy”). We have rights to develop produced water handling facilities on a significant portion of LandBridge’s surface acreage, including approximately 830,000 bpd of existing produced water handling capacity and approximately 2.1 million bpd of additional permitted capacity available for future development, each as of March 31, 2025.

In 2023, we entered into a long-term strategic partnership with Devon pursuant to which Devon committed all its produced water within