Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 152

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 152
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 March 2025.

In addition to these current trends, we believe that the long-term growth in produced water in the Delaware Basin will continue partially due to advent of re-fractured wells (“re-fracs”). As operators seek to maximize the productivity of existing wells, re-fracs presents a cost-effective method to enhance recovery rates without the need for new drilling. Similar to new well development, efficient water management is essential to re-frac operations as they require significant water volumes for the initial hydraulic fracturing as well as sustained handling and disposal services for produced water as production peaks again thereafter. Though re-frac opportunities have traditionally been pursued in more mature oil and gas fields after their initial growth phase, we believe that there will be future opportunities to provide water management solutions for re-fracs in the Delaware Basin.

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### BUSINESS

### Company Overview
We are a leading integrated water infrastructure company with operations predominantly in the Delaware Basin, the most prolific oil and natural gas basin in North America. We operate what we believe is the largest water infrastructure network in the United States through which we provide water management solutions to E&P companies under long-term contracts, which include gathering, transporting, recycling and handling produced water. As of March 31, 2025, on a pro forma basis, our infrastructure network included approximately 2,500 miles of pipelines and 182 produced water handling facilities, which handled approximately 2.4 million bpd of produced water for our customers and had more than 4.0 million bpd of total produced water handling capacity. In addition, our synergistic relationship with LandBridge, a leading Delaware Basin surface owner, provides us access to significant underutilized pore space in and around the Delaware Basin that is necessary to meet the E&P industry’s evolving water handling needs. We manage our extensive infrastructure network through the use of our fit-for-purpose technology solutions, including our state-of-the-art centralized operations center and proprietary water forecasting platform, which enable us to monitor, measure and forecast water volumes in real-time across our infrastructure network and provide our customers with reliable and efficient water management solutions. We believe that our strategically located and integrated infrastructure network provides a competitive advantage in attracting customers and allows us to achieve significant economies of scale.

The transportation, treatment and handling of produced water is crucial to oil and natural gas production. Water naturally exists in subsurface geologic formations that contain oil and natural gas deposits and is produced alongside, and typically in higher volumes than, hydrocarbons throughout the full life cycle of