Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 192

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 192
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-wide rig counts tend to be less affected by commodity price dislocations than other basins. Since 2014, the Delaware Basin has accounted for an average of 26% of all active U.S. rigs. That market share has been relatively consistent, ranging from 25% to 32% since 2017, despite the volatility in WTI crude oil prices and significant changes in the macroeconomic environment.

Note: As of June 30, 2025. Source: Enverus, data and analytics derived from Enverus PRISM® June 2025.

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Note: As of June 30, 2025. Source: Enverus, data and analytics derived from Enverus PRISM® June 2025.

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Note: As of June 30, 2025. Source: Enverus, data and analytics derived from Enverus PRISM® June 2025.

Water management is a critical aspect of upstream oil and natural gas operations in the United States. This is particularly true in unconventional oil and gas basins like the Permian Basin where horizontal drilling and hydraulic fracturing are commonly used to maximize production and well economics.

Hydrocarbon deposits are generally saturated with water in most oil and gas formations. Once an E&P producer finishes drilling a horizontal well, it will often complete the well using a technique known as hydraulic fracturing prior to entering production. During this process, the producer pumps significant amounts of water, sand and chemicals into the wellbore under high pressure to fracture the formation and stimulate production. For E&P producers actively drilling and completing wells, the supply of water for hydraulic fracturing operations is absolutely critical.

Following the completion of a well, the upstream producer can begin production operations. During this phase water, oil and natural gas are produced and then separated into individual streams. Water production tends to match oil and natural gas production in an increasing ratio over the economic life of a well. In connection with a well’s initial production, the produced water also includes flowback water, which consists of water and completion fluids injected into the well during the hydraulic fracturing process.

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Over the past several years, producers have been consistently increasing the lateral lengths of the wells they are drilling and completing due to both consolidation of acreage (allowing for longer laterals to be drilled across contiguous acreage) and increased well economics. The longer the lateral, the more sand and