LandBridge Co. has closed its acquisition of approximately 5,800 largely contiguous surface acres in Lea County, New Mexico. (Source: Shutterstock, LandBridge)
LandBridge Co. has closed its acquisition of approximately 5,800 largely contiguous surface acres in Lea County, New Mexico, expanding the company into a new area of the Delaware Basin, the company announced Nov. 22.
LandBridge said the land supports existing water infrastructure with the potential to distribute water supply into New Mexico by WaterBridge, LandBridge’s midstream water management affiliate.
The company recently announced its acquisition of approximately 46,000 largely contiguous surface acres in the Southern Delaware’s Wolf Bone Ranch for $245 million in cash.
With the acquisition in Lea County, alongside its previous Winkler County, Texas, and Wolf Bone Ranch agreements, LandBridge said it announced or closed acquisitions totaling 53,080 acres in fourth-quarter 2024.
This brings the company’s total owned surface acreage to 272,000.
LandBridge has increased its 2025 adjusted EBITDA guidance to between $170 million and $190 million, following close of the Wolf Bone Ranch deal in fourth-quarter 2024.
The deals are expected to be funded with a mix of equity and debt financing, including proceeds from LandBridge's recently announced private placement of 5.8 million Class A shares, LandBridge said.
Following the closing of the private placement, Five Point Energy, the company’s main investor, will own an approximate 70% ownership interest in LandBridge.
Recommended Reading
Appeals Court Rules in Favor of FERC-Permitted Indiana NatGas Line
2025-01-08 - “As night follows day, an environmental challenge follows the approval of a natural gas pipeline,” a Court of Appeals, D.C. Circuit panel said in ruling in favor of a Boardwalk Pipeline expansion project.
Exclusive: Arbo Monitoring Courts, Congress Amid Energy Policy Shifts
2024-12-09 - Chip Moldenhauer, CEO and founder of energy analytics company Arbo, gives insight into regulatory impacts the energy sector should watch for entering 2025, in this Hart Energy Exclusive interview.
Analysts: DOE’s LNG Study Will Result in Few Policy Changes
2024-12-18 - However, the Department of Energy’s most recent report will likely be used in lawsuits against ongoing and future LNG export facilities.
Supreme Court Takes Up Clean Air Act Venue Fight
2024-10-21 - The high court’s justices will hear arguments if the EPA’s air pollution rules should be challenged in D.C. or in regional courts.
Q&A: Making Midstream’s Case in DC
2024-11-08 - GPA Midstream Association President and CEO Sarah Miller spoke with Oil and Gas Investor on working with the industry’s needs and defending the sector in Washington, D.C.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.