WaterBridge Infrastructure LLC Business Summary

WaterBridge Infrastructure LLC (WBI) operates as a leading integrated, pure-play water midstream company, primarily generating revenue through long-term, take-or-pay contracts with major exploration and production (E&P) firms such as Chevron, Devon Energy, and EOG Resources. The company’s revenue model is centered on fee-based transactions, typically charging $0.70 to $0.75 per barrel for the gathering, transportation, recycling, and disposal of produced water. Its primary business segments include Produced Water Management—utilizing a network of over 2,500 miles of pipeline and 4.5 million barrels per day of handling capacity—and Energy Waste Management, operated under the Desert Environmental brand. WBI maintains the largest produced water infrastructure network in the United States, positioning itself as a dominant infrastructure provider in the Delaware Basin relative to direct competitors such as Aris Water Solutions, Select Water Solutions, and Solaris Energy Infrastructure. Originally founded in 2016 by Stephen Johnson and Andrew Stephens in partnership with Five Point Energy, the company is currently led by Chief Executive Officer Jason Long, an energy entrepreneur who previously founded EnWater Solutions. The executive team includes Michael "Chop" Reitz as President and COO, Scott McNeely as Executive VP and CFO, and Harrison Bolling as Executive VP and General Counsel. The company is backed by prominent institutional investors including Five Point Energy, GIC, and Horizon Kinetics. Its Board of Directors features high-pedigree industry veterans such as Chairman David Capobianco (Founder of Five Point Energy), Janet Carrig (former General Counsel of ConocoPhillips), James Crane (Chairman of Crane Capital Group), and Jeffrey Ritenour (CFO of Devon Energy).