WaterBridge Infrastructure LLC

WBI

Market cap $864M

Energy badly lagged this year, and I underestimated how severe the supply glut would be. I was early - but the long-term thesis remains firmly intact. Today's oil prices aren't sustainable. Low prices are forcing discipline, squeezing supply, and creating a rare setup where sentiment and fundamentals are deeply misaligned. With positioning extremely bearish and costs rising, I see energy setting up for a powerful reversal - offering both income and upside for patient investors.

New York City-based Horizon Kinetics Asset Management disclosed a stake in WaterBridge at the end of the third quarter. The fund reported holding 6.35 million shares worth $160.26 million.

The S&P 500 has delivered an 80% return over the past three years, significantly outperforming energy stocks. Despite a 7% year-to-date gain, energy remains an underperformer compared to the broader market's 18% rise. Energy sector volatility, driven by weak demand and OPEC supply actions, has challenged investors throughout the year.

Texas Pacific Land Corporation, LandBridge Company LLC, and WaterBridge Infrastructure LLC are poised to benefit from the next phase of U.S. shale, dubbed "shale 4.0." Innovative extraction technologies and increased water needs are driving demand for land, water disposal, and infrastructure, boosting pricing power for TPL and LB. Despite current market apathy due to low oil prices, the long-term outlook for asset-light land and water businesses in the Permian Basin remains highly bullish.

WaterBridge Infrastructure LLC ( WBI ) Q3 2025 Earnings Call November 13, 2025 11:30 AM EST Company Participants Mae Herrington - Director of Investor Relations Jason Long - CEO & Director Michael Reitz - COO & President Scott McNeely - Executive VP & CFO Conference Call Participants Theresa Chen - Barclays Bank PLC, Research Division Elias Jossen - JPMorgan Chase & Co, Research Division Derrick Whitfield - Texas Capital Securities, Research Division Kevin MacCurdy - Pickering Energy Partners LP Praneeth Satish - Wells Fargo Securities, LLC, Research Division Presentation Operator Hello, and thank you for standing by. My name is Tiffany, and I will be your conference operator today.

HOUSTON--(BUSINESS WIRE)--WaterBridge Infrastructure LLC (NYSE: WBI) (the “Company” or “WaterBridge”) today announced its financial and operating results for the third quarter ended September 30, 2025. Prior to the closing of WaterBridge's initial public offering (the "IPO") on September 18, 2025, WaterBridge completed the successful combination (the "Combination") of its legacy entities WaterBridge Equity Finance LLC ("WBEF"), WaterBridge NDB Operating LLC ("NDB Operating") and Desert Environm.

These companies are of a size that excludes them from the indexes. WaterBridge's revenue and operating margin in this business, per barrel of water, are about $0.85 and $0.45. Tejon Ranch's strategy is to invest in getting land entitled for commercial and residential development.

WaterBridge Infrastructure (WBI) offers infrastructure-like stability and high-quality growth, supported by long-term contracts with investment-grade oil and gas producers. WBI's partnership with LandBridge provides a unique competitive moat, ensuring capacity reliability and strong pricing power in the Permian Basin. Major projects like Kraken, Speedway, and Cotton Draw, backed by take-or-pay agreements, are set to drive EBITDA growth and margin expansion through 2027.

HOUSTON--(BUSINESS WIRE)--WaterBridge Infrastructure LLC (NYSE: WBI) ("WaterBridge") today announced that it will release its financial results for the third quarter of 2025 after market close on Wednesday, November 12, 2025. WaterBridge will host a webcast and conference call to discuss its results on Thursday, November 13, 2025, at 10:30 a.m. Central Time / 11:30 a.m. Eastern Time. Webcast Instructions: To listen to the live webcast, please visit the Events and Presentations section of the Wa.

HOUSTON--(BUSINESS WIRE)--WaterBridge Infrastructure LLC (NYSE: WBI; NYSE Texas: WBI) (“WaterBridge” or the “Company”) announced today that WBI Operating LLC, a subsidiary of the Company, has priced its offering of $825 million aggregate principal amount of 6.25% senior unsecured notes due 2030 at par and $600 million aggregate principal amount of 6.50% senior unsecured notes due 2033 at par (the “Notes”). The offering is expected to close on October 6, 2025, subject to customary closing condit.