Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 227

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 227
---
 in order to help protect our financial stability while enabling us to pursue growth projects and strengthen relationships with existing customers.

We also believe the expected future growth of produced water volumes in the Permian Basin will require additional, underutilized pore space to allow for proper sequestration. We believe that our unique relationship with LandBridge, along with our strategic relationship with TPL, provides us with advantaged access to pore space for incremental disposal capacity. We believe that this access to pore space is a competitive advantage that allows us to pursue additional commercial agreements with new and existing customers.

Since 2018, we have completed more than 30 separate acquisitions.

In response to the growing urgency and magnitude of produced water management requirements, we believe that E&P companies will increasingly seek to divest their existing water infrastructure assets or outsource supply and produced water management to third-party operators due to the flow assurance and operational and capital efficiency of leveraging a larger, integrated third-party network.

In addition to water infrastructure owned by E&P companies, there are other third-party water midstream companies in the Delaware Basin and other basins in the United States that may present strategic acquisition opportunities. We will evaluate all acquisition opportunities relative to organic project returns and we intend to employ a rigorous framework to evaluate potential opportunities. We expect to pursue only accretive acquisitions of high-quality, complementary water infrastructure assets, since such opportunities will compete with alternative uses of capital such as organic growth projects, shareholder dividends, share repurchases and debt reduction. We have a demonstrated track record of acquiring water infrastructure assets from both midstream competitors and E&P companies and integrating them into our broader network.

We primarily compete with water infrastructure assets owned by E&P companies and with other third-party water midstream companies. Our competition is primarily relevant as it relates to new commercial agreements. Due to the long-term nature of our existing acreage dedication contracts, we may be able to grow through existing contracts with our existing customers without the necessity of entering into additional commercial agreements.

We believe that many of the E&P companies that continue to own their own water infrastructure would benefit from outsourcing their water management needs and selling their assets due to the capital efficiencies that can be realized from leveraging a larger, integrated network to manage produced water volumes. Additionally, we believe that our large-scale, fully integrated network, combined with our advantaged access to pore space as a result of our partnerships with LandBridge and TPL, differentiates us from other third-party water midstream companies that lack the scale required to address the challenges faced by our customers.

<div align