Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 152

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 152
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 2025 compared to the six months ended June 30, 2024 primarily attributable to accelerated depreciation related to plugging and abandonment of a well and associated facilities during the three months ended June 30, 2025.

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|                                                                        |     | Six Months Ended June 30, 
 2025                      |        |     | 2024 |        |     | Amount of  
 Increase   
 (Decrease) |        |   |     | Percentage 
 Change     |     |    |
|:-----------------------------------------------------------------------|:----|:--------------------------|-------:|:----|:-----|-------:|:----|:-----------|:-------|:--|:----|:-----------|:----|:---|
| General and administrative expense, excluding share-based compensation |     | $                         | 11,543 |     | $    | 15,858 |     | $          | (4,315 | ) |     |            | (27 | )% |
| Share-based compensation                                               |     |                           |  7,397 |     |      |  8,067 |     |            | (670   | ) |     |            | (8  | )% |
| Total general and administrative expense                               |     | $                         | 18,940 |     | $    | 23,925 |     | $          | (4,985 | ) |     |            | (21 | )% |

General and administrative expense. General and administrative expense, excluding share-based compensation expense, decreased by $4.3 million for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The decrease was primarily attributable to lower professional fees of $3.2 million related to modifications of our credit agreements and non-recurring litigation and $1.2 million in bad debt reserve related to an uncollectible customer account during the six months ended June 30, 2024. Share-based compensation expense. Share-based compensation expense decreased $0.7 million for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The decrease is attributable to the change in the fair value of the WaterBridge Resources and WaterBridge II incentive units accounted for as liability awards. Share-based compensation consists of the WaterBridge Resources and WaterBridge II incentive units. Such incentive units are classified as liability awards and shared