Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 175

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 175
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 decrease of $13.7 million primarily attributable to lower accrued expenses related to timing of interest paid on the WBM Term Loan (defined below) and WBM Revolving Credit Facility partially offset by lower accounts receivable related to timing of customer payments and revenues.

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Net Cash Used in Investing Activities.Net cash used in investing activities decreased $47.8 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023. The net decrease was primarily attributable to lower capital expenditures, inclusive of changes in associated working capital items, of $46.5 million related to lower capital spend required to service our produced water handling contracts and volume, and expansion of our water handling infrastructure network.

Net Cash Used in Financing Activities.Net cash used in financing activities increased $5.4 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023. Net cash used in financing for the year ended December 31, 2024 totaled $33.8 million consisting of $26.3 million in note repayments associated with WBEF’s Series A-1 preferred units, insurance and equipment financing notes. Additionally, we made distributions of $8.9 million to Elda River.

Net cash used in financing activities for the year ended December 31, 2023 totaled $28.3 million consisting of a $150.0 million redemption payment to the Series A-1 preferred units holder and $63.3 million in repayments on the WBM Revolving Credit Facility, WBM Term Loan and other notes payable partially offset by borrowings on the WBM Term Loan and under the WBM Revolving Credit Facility of $189.0 million primarily used to redeem the Series A-1 preferred units. Additionally, there was $3.3 million paid related to contingent consideration and $0.8 million in cash distributions paid to the Series A-1 preferred units holder prior to the redemption.

WaterBridge NDB Operating LLC

Net Cash Provided by Operating Activities.Net cash provided by operating activities increased $25.4 million for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was primarily attributable higher operating income, net of non-cash items, of $32.9 million related to higher produced water handling and water solutions revenues. The increase was partially offset by a decrease related to working capital items, other than cash, of $