WaterBridge Infrastructure LLC
Business
WaterBridge Infrastructure LLC is a pure-play water infrastructure company operating the largest integrated produced water network in the United States, primarily in the Delaware Basin. The company provides water management solutions—including gathering, transportation, recycling, and disposal of produced water—to oil and natural gas E&P companies under long-term fixed-fee contracts with acreage dedications and minimum volume commitments. WaterBridge also operates two energy waste management facilities and owns gas transportation pipelines, serving customers across the Delaware, Eagle Ford, and Arkoma basins.
Summary from 10-K filed 2026-03-16
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Total revenues | 526 | 316 | 201 | |
| Depreciation, depletion, amortization and accretion | 141 | 78 | 48 | |
| Total cost of revenues | 383 | 228 | 145 | |
| General and administrative expense | 47 | 34 | 15 | |
| Loss (gain) on disposal of assets, net | 12 | −137,000 | 97,000 | |
| Other operating expense (income), net | 4 | −2 | 21,000 | |
| Operating income | 79 | 56 | 40 | |
| Interest expense, net | 69 | 53 | 26 | |
| Loss on extinguishment of debt, net | 11 | 0 | 0 | |
| Other income, net | −433,000 | −251,000 | −523,000 | |
| (Loss) income from operations before taxes | −1 | 3 | 15 | |
| Income tax (benefit) expense | −1 | 320,000 | 111,000 | |
| Net income | 9,000 | 3 | 15 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 52 | 13 | — | — | |
| Other receivables | 3 | 2 | — | — | |
| Prepaid expenses and other current assets | 15 | 6 | — | — | |
| Total current assets | 261 | 120 | — | — | |
| Property, plant and equipment, net | 2,286 | 1,101 | — | — | |
| Goodwill | 53 | 9 | — | — | |
| Intangible assets, net | 936 | 99 | — | — | |
| Deferred tax assets | 132 | 0 | — | — | |
| Other assets | 33 | 22 | — | — | |
| Total non-current assets | 3,439 | 1,230 | — | — | |
| Total assets | 3,700 | 1,351 | — | — | |
| Accrued liabilities | 130 | 45 | — | — | |
| Current portion of long-term debt | 13 | 7 | — | — | |
| Other current liabilities | 2 | 2 | — | — | |
| Total current liabilities | 189 | 83 | — | — | |
| Long-term debt, net of debt issuance costs | 1,432 | 586 | — | — | |
| Tax receivable agreement liability | 201 | 0 | — | — | |
| Other long-term liabilities | 30 | 18 | — | — | |
| Total non-current liabilities | 1,663 | 604 | — | — | |
| Total liabilities | 1,852 | 688 | — | — | |
| Commitments and contingencies | — | — | — | — | |
| Member's equity | 0 | 663 | 651 | 411 | |
| Retained earnings | −5 | 0 | — | — | |
| Total shareholders' equity attributable to WaterBridge Infrastructure LLC | 602 | 0 | — | — | |
| Noncontrolling interest | 1,245 | 0 | — | — | |
| Total shareholders and members equity | 1,848 | — | — | — | |
| Total member's equity | — | 663 | — | — | |
| Total liabilities and equity | 3,700 | 1,351 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Depreciation, amortization, and accretion | 141 | 78 | 48 | |
| Amortization and write off of debt issuance costs | 4 | 5 | 1 | |
| Contractual customer relationships amortization | 2 | 2 | 1 | |
| Loss (gain) on disposal of assets, net | 12 | −137,000 | 97,000 | |
| Deferred income tax benefit | −1 | 0 | 0 | |
| Other | 505,000 | 1 | 647,000 | |
| Accounts receivable | −37 | −5 | −13 | |
| Related party accounts receivable | 14 | −22 | −11 | |
| Prepaid expenses and other assets | −1 | −337,000 | 2 | |
| Accounts payable | 5 | −37,000 | 4 | |
| Related party accounts payable | 4 | 6 | −909,000 | |
| Contract liabilities | −120,000 | −37,000 | 4 | |
| Accrued and other liabilities | −484,000 | −148,000 | 4 | |
| Consideration paid to customer | 0 | −3 | −7 | |
| Net cash provided by operating activities | 160 | 74 | 48 | |
| Acquisitions, net of cash acquired | 40 | −167 | −25 | |
| Capital expenditures | −279 | −160 | −148 | |
| Proceeds from disposal of assets | 20 | 3 | 2 | |
| Net cash used in investing activities | −219 | −324 | −171 | |
| Repayments of debt | −1,849 | −360 | −29 | |
| Proceeds from debt | 1,505 | 630 | 150 | |
| Proceeds from issuance of Class A shares, net of underwriting discounts and commissions | 685 | 0 | 0 | |
| Purchase of OpCo equity interests from Elda River | −228 | 0 | 0 | |
| Contributions from member | 20 | 0 | 10 | |
| Debt issuance costs | −26 | −19 | −2 | |
| Deferred offering costs | −8 | 0 | 0 | |
| Repayments of finance leases | −1 | −1 | −862,000 | |
| Net cash provided by (used in) financing activities | 97 | 250 | 129 | |
| Net (decrease) increase in cash and cash equivalents | 38 | 415,000 | 6 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is WaterBridge Infrastructure LLC's CIK number?
WaterBridge Infrastructure LLC's SEC CIK number is 0002064947 (2064947). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find WaterBridge Infrastructure LLC's SEC filings?
All of WaterBridge Infrastructure LLC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did WaterBridge Infrastructure LLC last report earnings?
WaterBridge Infrastructure LLC (WBI) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-209050). This is WaterBridge Infrastructure LLC's most recent earnings filing of record — not a forecast of its next earnings date.
What is WaterBridge Infrastructure LLC's most recent earnings 8-K?
WaterBridge Infrastructure LLC's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001193125-26-209050. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View WaterBridge Infrastructure LLC's latest earnings 8-K →
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