Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 394

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 394
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 III LP collectively hold a 65.8% indirect ownership in the Company.

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 NDB Intermediate Holdings LLC, a Delaware limited liability company (“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.

2. Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying unaudited condensed consolidated financial statements (“Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflects all adjustments, consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, these Financial Statements should be read in conjunction with the Company’s annual audited financial statements and accompanying notes for the year ended December 31, 2024. Alldollars amounts in the Financial Statements and tables in the notes are stated in thousands of dollars unless otherwise