Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 182

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 182
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-party water infrastructure.

We operate predominantly in the Delaware Basin, which is the most prolific oil and natural gas basin in North America. We also operate leading water infrastructure networks in the Eagle Ford and Arkoma basins. Our customers include some of the most active and well-capitalized E&P companies in the areas in which we operate, including Permian Resources Corp., Devon, Trinity Operating, LLC (a subsidiary of NextEra Energy, Inc.), Chevron Corporation and EOG Resources, Inc.

Water Gathering and Transportation Pipeline Network

Our water gathering and transportation pipeline network transports water from the wellsite to our water handling facilities. As of May 30, 2025, on a pro forma basis, we operated approximately 2,500 miles of water pipelines. As our E&P customers have continued to drill longer laterals with large pad developments that include more wells drilled from a single pad, the volumes of water concentrated within a single surface location has increased. There are no viable long-term alternatives to pipeline transportation of water volumes produced from new pad developments, and, unlike gas production, a producer cannot flare water if takeaway infrastructure is constrained. We believe that the necessity of transporting water away from the wellsite by pipeline makes our water gathering and transportation pipeline network critical infrastructure, as our customers would be forced to shut-in their production without reliable water handling capacity.

Water Handling Facilities

When water is transported from the wellsite or central gathering facility, it typically contains salt, chemicals and/or skim oil. At our water handling facilities, we filter and treat produced water and either inject it into underground disposal wells or recycle the treated water for further use in drilling activities. As of May 30, 2025, on a pro forma basis, we operated 193 produced water handling facilities with more than 4.4 million bpd of produced water handling capacity. In the process of treating produced water at our water handling facilities, we often recover residual skim oil that remains in the water stream. We generate revenue by selling that skim oil at prevailing market prices, less applicable discounts.

Water Solutions

We sell brackish and produced water to our customers for use in their drilling and completion operations. We also provide produced water treatment and recycling services and sell recycled water to our customers for use in drilling and completion operations. We charge contracted fees per barrel of water sold.

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Other

We also own gas transportation pipelines in Oklahoma and earn fees related to that service. For both the year ended December 31, 2024 and the three