Earnings summaries and quarterly performance for WaterBridge Infrastructure.
Research analysts covering WaterBridge Infrastructure.
Recent press releases and 8-K filings for WBI.
WaterBridge Reports Strong Q3 2025 Results Following September IPO
WBI
Earnings
New Projects/Investments
Debt Issuance
- WaterBridge completed its initial public offering (IPO) in September 2025, raising $673 million in net proceeds, and subsequently optimized its balance sheet with a $1.425 billion senior notes offering and a new $500 million revolving credit facility.
- For Q3 2025, the company reported pro forma revenue of $205.5 million, an 8% increase quarter-over-quarter, and pro forma adjusted EBITDA of $105.7 million, reflecting a 51% margin.
- Combined produced water handling volumes reached 2.5 million barrels per day, representing 7% quarter-over-quarter growth.
- Key operational milestones include bringing the BPX Kraken Project online at the beginning of Q3 2025 and the final investment decision (FID) for Phase One of the Speedway Pipeline project, which is expected to be in-service mid-2026.
- The company anticipates providing 2026 guidance concurrent with its Q4 and full year 2025 earnings call.
Nov 13, 2025, 4:30 PM
WaterBridge Reports Strong Q3 2025 Results and Operational Milestones Post-IPO
WBI
Earnings
New Projects/Investments
Debt Issuance
- WaterBridge reported strong Q3 2025 pro forma financial results, with revenue of $205.5 million, an 8% increase quarter-over-quarter, and pro forma adjusted EBITDA of $105.7 million.
- Combined produced water handling volumes for Q3 2025 reached 2.5 million bbl per day, representing 7% quarter-over-quarter growth.
- Following its IPO on September 18, 2025, which generated approximately $673 million in net proceeds, WaterBridge optimized its balance sheet with a $1.425 billion senior notes offering and established a new $500 million undrawn senior secured revolving credit facility.
- Operationally, the BPX Kraken project came online in Q3 2025 with an initial capacity of 400,000 bbl per day and a 10-year minimum volume commitment, and the company made a final investment decision for Phase 1 of the Speedway Pipeline project, expected in-service mid-2026.
- WaterBridge is actively exploring opportunities for the beneficial reuse of produced water, including for data center cooling, anticipating a meaningful economic uplift from these ventures.
Nov 13, 2025, 4:30 PM
WaterBridge Reports Q3 2025 Financial Results and Operational Milestones
WBI
Earnings
New Projects/Investments
Debt Issuance
- WaterBridge reported its first public quarterly results for Q3 2025, with pro forma revenue of $205.5 million and pro forma adjusted EBITDA of $105.7 million, achieving a 51% adjusted EBITDA margin.
- Combined produced water handling volumes reached 2.5 million barrels per day, representing 7% quarter-over-quarter growth, significantly boosted by the new BPX Kraken infrastructure.
- The company strengthened its financial position with $673 million in net proceeds from its IPO and, subsequent to the quarter, completed a $1.425 billion senior notes offering and established a new $500 million revolving credit facility.
- Strategic projects are advancing, including the BPX Kraken Project coming online with an initial capacity of 400,000 barrels per day, and the Speedway Pipeline project (Phase 1) under construction, targeting a mid-2026 in-service date.
- WaterBridge is actively exploring new revenue streams by expanding operations to address water needs for data center cooling and beneficial reuse of produced water.
Nov 13, 2025, 4:30 PM
WaterBridge Infrastructure LLC Announces Strong Q3 2025 Results and Strategic Financing Moves
WBI
Earnings
Debt Issuance
New Projects/Investments
- WaterBridge Infrastructure LLC reported Q3 2025 pro forma revenues of $205.5 million, marking an 8% quarter-over-quarter increase, alongside a pro forma net loss of $18.7 million and pro forma Adjusted EBITDA of $105.7 million.
- Operational growth included combined produced water handling volumes of 2.5 million barrels per day, a 7% increase quarter-over-quarter, and the bpx Kraken pipeline project coming online with an initial capacity of approximately 400 MBbls/d.
- Following its initial public offering, the company completed an inaugural $1.425 billion senior notes offering on October 6, 2025, and established a new undrawn $500 million senior secured revolving credit facility.
- WaterBridge's market capitalization stood at $3.0 billion as of November 7, 2025, and it received credit ratings of BB- / BB- / Ba3 from S&P Global, Fitch, and Moody's, respectively.
Nov 12, 2025, 10:24 PM
WaterBridge Infrastructure LLC Subsidiary Completes $1.425 Billion Senior Notes Private Placement
WBI
Debt Issuance
- WBI Operating LLC, a subsidiary of WaterBridge Infrastructure LLC, completed a private placement of $1.425 billion aggregate principal amount of Senior Notes on October 6, 2025.
- The offering consisted of $825 million of 6.250% Senior Notes due 2030 and $600 million of 6.500% Senior Notes due 2033.
- The net proceeds from this offering, combined with cash on hand, will be used to repay $1.712 billion in outstanding borrowings under legacy term loan facilities as of September 29, 2025, and for general corporate purposes.
Oct 6, 2025, 10:04 PM
WaterBridge Announces Pricing of $1.425 Billion Senior Notes Offering
WBI
Debt Issuance
- WaterBridge Infrastructure LLC's subsidiary, WBI Operating LLC, announced the pricing of an upsized $1.425 billion offering of senior unsecured notes on September 30, 2025.
- The offering comprises $825 million of 6.25% senior unsecured notes due 2030 and $600 million of 6.50% senior unsecured notes due 2033.
- The net proceeds, along with cash on hand, are intended to repay $1.712 billion in outstanding borrowings under legacy term loan facilities as of September 29, 2025, and for general corporate purposes.
- The offering is expected to close on October 6, 2025.
Sep 30, 2025, 9:28 PM
WaterBridge Infrastructure LLC Announces Speedway Pipeline Development
WBI
New Projects/Investments
Guidance Update
- WaterBridge Infrastructure LLC announced a final investment decision on September 29, 2025, to proceed with the first phase of the Speedway Pipeline development.
- The initial phase of the project is expected to incur development costs of approximately $290 million.
- Construction is anticipated to commence in the fourth quarter of 2025, with the pipeline and related handling facilities expected to be completed and in service by mid-2026.
- Upon completion, the initial phase of the Speedway Pipeline is projected to provide access to 1.0 million barrels per day of approved produced water handling capacity.
Sep 30, 2025, 1:51 PM
WaterBridge Announces Launch of Senior Notes Offering
WBI
Debt Issuance
- WaterBridge Infrastructure LLC announced on September 29, 2025, that its subsidiary, WBI Operating LLC, intends to offer $1.4 billion in aggregate principal amount of senior notes.
- The company plans to use the net proceeds from this offering, along with cash on hand, to repay $1.712 billion in outstanding borrowings under legacy term loan facilities, as of September 29, 2025.
- The notes will be offered in a private placement to eligible purchasers and have not been registered under the Securities Act of 1933.
Sep 29, 2025, 12:35 PM
WaterBridge Midstream Operating LLC Amends Revolving Credit Agreement and Completes Merger
WBI
M&A
Debt Issuance
- An Amendment No. 3 to Revolving Credit Agreement was executed on September 19, 2025, with WaterBridge Midstream Operating LLC designated as the Successor Borrower.
- On September 19, 2025, WaterBridge NDB Operating LLC and NDB Intermediate Holdings, LLC merged with and into WaterBridge Midstream Operating LLC, which survived the merger.
- Concurrently, all equity interests in Desert Environmental LLC were contributed to the Successor Borrower on September 19, 2025.
Sep 24, 2025, 9:31 PM
WaterBridge Infrastructure LLC Prices and Closes Upsized Initial Public Offering
WBI
New Projects/Investments
- WaterBridge Infrastructure LLC priced its upsized initial public offering of 31,700,000 Class A shares at $20.00 per Class A share on September 16, 2025.
- The Class A shares began trading on the New York Stock Exchange (NYSE) and NYSE Texas, Inc. under the ticker symbol "WBI" on September 17, 2025.
- The offering closed on September 18, 2025, with the underwriters exercising their option in full to purchase an additional 4,755,000 Class A shares.
- WaterBridge received net proceeds of approximately $588 million from the initial offering and expects an additional $89 million from the option shares, totaling approximately $677 million.
- WaterBridge is a leading integrated, pure-play water infrastructure company operating the largest produced water infrastructure network in the United States, handling over 2.6 million bpd of produced water as of August 31, 2025.
Sep 18, 2025, 9:27 PM
Quarterly earnings call transcripts for WaterBridge Infrastructure.
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