Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 222

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 222
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 a pro forma basis, we had approximately 2.3 million acres dedicated to our platform under long-term, fixed-fee contracts, our contracts had a weighted average remaining term of 11 years. For the six months ended June 30, 2025, on a pro forma basis, our top five customers by revenue consisted of Permian Resources Corporation, Devon, Vital Energy, Inc., APA Corporation and Trinity Operating, LLC, which collectively represented approximately 51% of our total pro forma water-related revenue for

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the year. We expect to continue to execute long-term contracts with existing and new customers as we continue to expand our water infrastructure network.

We intend to continue to grow our business organically by entering additional long-term fee-based contracts under which we generate predictable cash flows by providing a variety of water management solutions to our customers in support of their increasing water management requirements. We continue to focus on growing our contractual arrangements with new and existing customers that include acreage dedications and, when circumstances dictate, MVCs. We believe that we are well positioned to pursue these organic growth opportunities because of our permanent, integrated water infrastructure network and strategic location in the highly active Delaware Basin.

Due to the integrated nature of our assets and the redundancies we have built into our networks, we are able to realize meaningful growth with little or no incremental capital investment required. Our management team has an established track record of prudent capital allocation and expertise in engineering, constructing, acquiring, integrating and operating water infrastructure assets. If there are significant capital outlays expected for a new commercial arrangement, then we may seek contracts that include MVCs 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