Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 482

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 482
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 |            1,741 |   |     | $ |            1,976 |   |
| Insurance financing note payable                                                                  |     | $ |                - |   |     | $ |              452 |   |
| Asset retirement obligation additions                                                             |     | $ |                1 |   |     | $ |            1,649 |   |

The Notes to the Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

<div align='center'>F-126

Desert Environmental LLC and Subsidiaries

Notes to theUnauditedCondensed Consolidated Financial Statements</div>

Note 1. Organization and Nature of Operations

Desert Environmental LLC and Subsidiaries (together with its subsidiaries the Company, we, our, us) is a Delaware limited liability company that was formed on April 6, 2022 by entities affiliated with Five Point Energy Fund III LP (Fund III). Fund III currently holds a 93.34% indirect ownership interest in the Company.

On October 31, 2022, Fund III contributed, as a capital contribution, all of the issued and outstanding limited liability company interests of the Company to Desert Environmental Holdings LLC (the Parent). The Company is a wholly owned subsidiary of the Parent. The Company is governed by the Amended and Restated Limited Liability Company Agreement, dated September 15, 2023 (the LLC Agreement).

The consolidated financial statements include the accounts of the Company and its subsidiaries, which include:

Safefill Pecos, LLC – 100% of the issued and outstanding membership interests of Safefill Pecos, LLC were purchased by Desert Environmental LLC on November 1, 2022. Safefill Pecos is a Texas limited liability company that was originally formed in March 2019.

Desert Reclamation LLC – a Delaware limited liability company, formed April 6, 2022. Desert Environmental LLC is the sole member of Desert Reclamation LLC.

Desert Operating LLC – a Delaware limited liability company, formed January 4, 2023. Desert Environmental LLC is the sole member of Desert Operating LLC.

The Company manages non-hazardous waste resulting primarily from oil and gas related exploration and production and midstream activity. In addition to processing waste deliveries from the rig site, the Company is equipped to treat, separate, and reclaim production solids and crude terminal cleaning residuals. The Company's services are centered in the northern and southern Delaware Basin. Assets consist of