Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 142

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 142
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 infrastructure network.

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Net Cash Used in Financing Activities. Net cash used in financing activities decreased for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. Net cash used in financing for the three months ended March 31, 2025 totaled $11.7 million, consisting of $6.6 million in debt repayments associated with the WBM Term Loan, insurance and equipment financing notes. Additionally, we made a distribution of $4.4 million to the Legacy Preferred Holder and paid $0.6 million related to contingent consideration. Net cash used in financing for the three months ended March 31, 2024 totaled $16.6 million consisting of $15.7 million in repayments associated with the WBEF Preferred Units, WBM Term Loan, insurance and equipment financing notes. Additionally, we paid $0.9 million related to contingent consideration. WaterBridge NDB Operating LLC Net Cash Provided by Operating Activities. Net cash provided by operating activities increased for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The increase was attributable to higher net income, net of non-cash items, of $12.3 million primarily related to higher gross margin due to increased volumes driven by East Stateline acquired assets and organic commercial growth during the three months ended March 31, 2025. Additionally, changes in working capital items, other than cash, resulted in an increase of $21.8 million primarily attributable to higher related party receivables due to timing of payments. Net Cash Used in Investing Activities. Net cash used in investing activities decreased for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The decrease was primarily driven by $18.8 million of increased proceeds from sale of assets primarily related to the sale of crude transportation assets during the three months ended March 31, 2025. This was partially offset by a $16.2 million increase in capital expenditures, inclusive of changes in associated working capital items, required to service our produced water handling contracts and volume, and expansion of our infrastructure network. Net Cash (Used in) Provided by Financing Activities. Net cash from financing activities decreased $22.3 million to $2.8 million of cash used in financing activities for the three months ended March 31, 2025 as compared to cash