Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 175

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 175
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 the effectiveness of our internal control over financial reporting. We will not be required to make our first assessment of the effectiveness of our internal control over financial reporting under Section 404 until our second annual report on Form 10‑K after we become a public company.

Further, our independent registered public accounting firm is not yet required to formally attest to the effectiveness of our internal controls over financial reporting and will not be required to do so for as long as we are an “emerging growth company” under applicable federal securities laws. Please see “Summary—Emerging Growth Company Status” for more information.

Off Balance Sheet Arrangements

We currently have no material off‑balance sheet arrangements.

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### INDUSTRY
While our business is entirely focused on water management, the underlying industry that we service is the upstream oil and natural gas industry in the United States which includes major producing regions across the country. Our water infrastructure network is predominantly focused on the Delaware Basin, which is located in Texas and New Mexico. The Delaware Basin is part of the Permian Basin, which is the most active oil and natural gas producing region in the country. With 38% of current onshore rigs, the lowest break-even operator economics and approximately 33,000 remaining economic locations (the most out of any Lower 48 basin), the Delaware Basin is the most prolific oil and natural gas basin in North America. Production and drilling activity in the region is dominated by large, generally publicly-listed, well-capitalized upstream oil and natural gas producers, many of which are our major customers. We believe that our integrated water infrastructure network and suite of produced water handling solutions make us an ideal partner to help support our upstream customers’ oil and gas production operations.

#### U.S. Upstream Oil and Natural Gas Industry
Permian Basin

Since 2014, oil production in the Permian Basin has increased nearly six-fold from 1.0 million bpd to more than 5.8 million bpd in 2024, representing a CAGR of approximately 17%. Over the same period, total water production in the Permian Basin has shown a similar growth trajectory, increasing nearly six-fold since 2014 from 3.2 million bpd to more than 18.6 million bpd in 2024, representing a CAGR of approximately 18%.

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