Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 169

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 169
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 completion activity and $4.6 million related to higher prices for recycled produced water; and • an increase of $6.7 million due to a 26 MBbl/d brackish water volume increase related to brackish water supply assets acquired in May 2024. Other Revenues. Other revenue increased $0.8 million for the year ended December 31, 2024, as compared to the year ended December 31, 2023 primarily due to a decrease in crude transportation revenues of $1.1 million related to lower volume transported, partially offset by $0.3 million related to higher prices for crude transportation services. Direct Operating Costs. Direct operating costs increased $52.5 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023, primarily due to higher produced water handling and water solutions volumes. This increase in volumes resulted in higher landowner royalty expenses of $15.6 million, site utility expenses of $5.6 million, waste disposal costs of $3.1 million, water treatment chemical purchases of $2.0 million, and other direct field-level costs of $1.0 million. Additionally, as activity increased across our Northern Delaware platform, the Company experienced higher costs in other direct operating categories, including repairs and maintenance of $9.9 million, employee-related expenses of $8.3 million, and equipment rentals of $5.2 million, compared to the prior year. Insurance costs directly associated with the operations of our facilities also increased by $1.8 million. Depreciation, amortization and accretion. Depreciation, amortization and accretion increased $29.9 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023 primarily attributable increased depreciation of $24.7 million associated with asset acquisitions and capital expenditures related to the continued expansion of our produced water handling infrastructure network in the Texas-New Mexico state line area. Additionally, amortization expense increased $4.9 million related to customer contracts intangibles acquired in May

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2024. See “Note 4—Asset Acquisitions” within the notes to the NDB Operating consolidated financial statements included elsewhere in this prospectus.

|                                                                        |     | Year Ended December 31, |   2024 |     |     |   2023 |   |     | Amount of 
 Increase  | (Decrease)