WaterBridge Resources

What WaterBridge Resources does

WaterBridge Resources (NYSE: WBI) is the largest pure-play integrated produced water infrastructure company in the United States, providing gathering, transporting, recycling, and handling services to oil and natural gas exploration and production (E&P) companies operating predominantly in the Delaware Basin (southern New Mexico and west Texas), with additional assets in the Eagle Ford and Arkoma Basins. The company operates 2,500+ miles of pipeline, 200+ produced water facilities, and 4.7M+ barrels per day of water handling capacity, managed through an advanced control room utilizing SCADA systems, data analytics, and predictive modeling for 24/7 real-time monitoring. Its infrastructure network was built with operational redundancies achieving 99.7% uptime in FY 2025.

The company's revenue model is volume-based with per-barrel fees under long-term take-or-pay contracts featuring minimum volume commitments (MVCs), providing substantial revenue visibility. Major products include the Speedway Pipeline (Phase I at 500,000 BPD, Phase II adding up to 500,000 BPD), the Kraken Water Management Project with bpx (BPX Energy), and Stateline produced water infrastructure. Q1 2026 revenue was $201.0M and FY 2025 pro forma revenue was $790.0M (up 19% YoY), with Adjusted EBITDA margins of approximately 51%. The company was formed by Five Point Infrastructure LLC and went public via a $677M IPO in September 2025. Strategic land and pore space access is secured through partnerships with LandBridge (NYSE: LB) and a 64,000-acre Area of Mutual Interest with Texas Pacific Land Company (NYSE: TPL).

Name

WaterBridge Resources

Legal name

WaterBridge Infrastructure LLC

Website

https://h2obridge.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

251–500 employees

Short description

WaterBridge Resources is the largest US pure-play integrated produced water infrastructure company, providing gathering, transporting, recycling, and handling services to oil and gas E&P companies under long-term contracts in the Delaware, Eagle Ford, and Arkoma Basins.

Ownership category

akta.pro rank

Product category

Midstream Water Infrastructure

NAICS

Other Pipeline Transportation (4869), Pipeline Transportation of Refined Petroleum Products (48691)

SIC

Pipe Lines (No Natural Gas) (4610), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Produced Water Gathering & Disposal Pipelines (TLAGAJAD)

akta.pro secondary industry

Brine/Concentrate & Produced Water Conveyance Pipelines (Long-Distance) (TLAGAHAG)

Keywords

• Produced water management
• Midstream water infrastructure
• Water gathering and transportation
• Produced water recycling
• E&P water solutions

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Produced Water Handling: Primary revenue stream from gathering, transporting, and handling produced water for oil and gas E&P companies under long-term contracts. Revenue is volume-based with per-barrel fees and minimum volume commitments (MVCs) providing revenue certainty. Q1 2026 revenue of $153.2M plus $28.7M from related parties.
2. Water Solutions: Recycling and treatment services including brackish water sales and transfers. Revenue from water reuse and beneficial use applications. Q1 2026 revenue of $8.5M plus $0.5M from related parties.
3. Other Revenues: Includes energy waste management, gas transportation, and other ancillary services. Q1 2026 revenue of $8.7M plus $1.4M from related parties.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

WaterBridge provides full-cycle produced water infrastructure services to oil and natural gas E&P companies, including gathering, transporting, recycling, and handling of produced water under long-term contracts with minimum volume commitments. Operations span the Delaware Basin (Eddy and Lea counties, NM and west Texas), Eagle Ford Basin, and Arkoma Basin, supported by 2,500+ miles of pipeline, 200+ facilities, and approximately 4.7 million BPD of water handling capacity.

Product overview

WaterBridge is the largest pure-play integrated water infrastructure company in the United States, providing comprehensive water management solutions to oil and natural gas E&P companies under long-term contracts. The company's integrated platform combines produced water handling, water solutions (recycling and reuse), and pipeline infrastructure. Core offerings include the Speedway Pipeline (large-diameter gathering and transportation pipeline with 500,000+ bpd capacity per phase), the Kraken water management project, and Stateline produced water infrastructure. The company operates approximately 2,500+ miles of pipeline and 200+ produced water facilities across the Delaware Basin, Eagle Ford, and Arkoma Basins. Advanced technology capabilities include real-time monitoring using SCADA systems, data analytics, and predictive modeling for operational optimization.

Differentiator

Problem solved

Functional benefit

Products and services

• Produced Water Handling Core service providing gathering, transporting, recycling and handling of produced water for oil and natural gas E&P companies under long-term contracts; the primary revenue driver for WaterBridge.
• Water Solutions Water management solutions including recycling, brackish water sales and transfers, and advanced treatment technologies enabling produced water reuse and beneficial use applications.
• Speedway Pipeline (Phase I and Phase II) Large-diameter gathering and transportation pipeline system spanning Eddy and Lea counties, New Mexico, to out-of-basin pore space (Central Basin Platform). Phase I provides 500,000 bpd throughput capacity; Phase II adds up to another 500,000 bpd of capacity.
• Kraken Water Management Project Major water infrastructure project in the Delaware Basin developed in partnership with bpx (BPX Energy), providing pipeline and produced water handling services with continued ramp contributing to volume growth.
• Stateline Produced Water Infrastructure Produced water infrastructure systems in the Stateline area of the Delaware Basin, expanding gathering, transportation, and handling capacity to meet growing E&P customer demand.

Quantifiable outcome

• 99.7% operational uptime with measurement variance of less than 1% across the system for full year 2025
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Devon EnergycoreStrategic or Co-development Partner · 23 February 202610-year commercial agreement including 7.5-year minimum volume commitment (MVC) commencing April 1, 2027, for transportation and handling of Devon produced water volumes generated in Eddy and Lea counties, New Mexico. Represents significant long-term contracted revenue visibility.
• LandBridge Company LLC (NYSE: LB)coreStrategic or Co-development PartnerSynergistic relationship with LandBridge, a leading Delaware Basin landowner. WaterBridge has access to LandBridge's significant land and underutilized pore space in and around the Delaware Basin. The Speedway Pipeline Phase II will transport produced water to out-of-basin pore space owned by LandBridge. LandBridge partnership provides strategic advantage for continued infrastructure development and customer access.
• Texas Pacific Land Company (NYSE: TPL)coreStrategic or Co-development Partner64,000 acre Area of Mutual Interest (AMI) with Texas Pacific Land Company, one of the largest landowners in Texas. This partnership provides WaterBridge with access to significant land and expansion opportunities in the Delaware Basin region.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Aris Water Solutions: Permian-focused pure-play produced water midstream company with gathering, transportation, recycling, and disposal assets serving Delaware Basin E&P customers. Most directly comparable peer to WaterBridge by geography, business model, and customer base.
• Select Water Solutions: NYSE-listed provider of water management and chemical solutions to the oilfield, including produced water handling, recycling, and disposal across multiple basins. Comparable business mix and customer type, with broader geographic footprint.

Emerging players

• NGL Energy Partners: Midstream MLP with a Water Solutions segment providing produced water transportation and disposal primarily in the Delaware and DJ Basins. Less pure-play than WaterBridge but directly competes for produced water midstream contracts.

Broad incumbents

• Targa Resources: Large-cap midstream operator (gathering, processing, NGL) with growing Permian footprint; Morgan Stanley flagged as a peer with comparable Permian growth exposure and similarly bullish outlook.
• ONEOK: Diversified midstream operator with natural gas, NGL, and refined products pipelines. Grouped alongside WaterBridge and Targa as Morgan Stanley's top midstream overweight picks, serving institutional midstream investors with comparable exposure.
• Western Midstream Partners: Permian-focused midstream MLP with significant Delaware Basin gathering and processing assets. Competes for the same E&P producer relationships and capital within the Permian ecosystem.
• DT Midstream: Natural gas and water midstream operator with Marcellus/Utica and Haynesville assets plus Permian water exposure. Provides a comparable midstream growth profile and is part of the broader institutional midstream peer set.
• EnLink Midstream: Diversified midstream operator spanning natural gas, NGL, and crude segments across multiple basins, serving institutional investors seeking midstream exposure with growth characteristics similar to WaterBridge.

Others

• LandBridge Company: NYSE-listed Delaware Basin landowner and WaterBridge's strategic pore-space partner. Not a direct competitor but a key ecosystem participant whose surface and pore-space holdings enable WaterBridge's Speedway expansion.
• Texas Pacific Land Corporation: NYSE-listed large Texas landowner with a 64,000-acre AMI supporting WaterBridge's Delaware Basin operations. Functions as a strategic enabler rather than a competitor, providing land and disposal access critical to WaterBridge's growth.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/waterbridge-resources-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WaterBridge Resources