Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 162

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 162
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 a decrease of $0.3 million due to a 32 MBbl/d treated water volume decrease partially offset by a 23 MBbl/d untreated water volume increase with the net decrease attributable to lower demand used in conjunction with upstream drilling and completion activity; and • an increase of $0.2 million due to a 4 MBbl/d brackish water volume increase related to brackish water supply assets acquired in May 2024.

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Other Revenues. Other revenues decreased $2.6 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 due to the divestment of crude gathering and transportation assets in March 2025. Direct Operating Costs. Direct operating costs increased $13.9 million, or $0.04 per barrel, for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily attributable to higher site utilities and power of $5.4 million, royalty expense of $5.0 million, personnel-related expenses of $1.9 million, third-party offload expenses of $0.9 million and waste disposal costs of $0.6 million. The higher operating costs are directly correlated to higher water volumes handled or recycled and scaling of the business. Depreciation, amortization and accretion. Depreciation, amortization and accretion increased $3.1 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily due to an increase of $2.6 million in depreciation expense related to continued high levels of capital investment activity and an increase of $0.6 million in amortization expense associated with intangible assets acquired in May 2024.

|                                                                        |     | Three Months Ended June 30, |  2025 |     |   |   2024 |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:-----------------------------------------------------------------------|:----|:----------------------------|------:|:----|:--|-------:|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| General and administrative expense, excluding share-based compensation |     | $                           | 6,595 |     | $ |  6,489 |     | $