LandBridge Corp
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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4. Property, Plant and Equipment
Prop erty, Plant and Equipment
As of March 31, 2025 and December 31, 2024, property, plant and equipment, net of accumulated depreciation and depletion consisted of the following:
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Oil and natural gas properties | ||
| Proved | $36,068 | $36,068 |
| Unproved | 3,043 | 3,043 |
| Total oil and natural gas properties | 39,111 | 39,111 |
| Land and land improvements | 872,000 | 855,092 |
| Water wells, pipelines, facilities, ponds and related equipment | 21,047 | 21,109 |
| Buildings, vehicles, equipment, furniture and other | 5,271 | 5,162 |
| Construction in progress | 390 | 14 |
| 937,819 | 920,488 | |
| Less: accumulated depreciation and depletion | (19,206) | (17,746) |
| Total property, plant and equipment, net | $918,613 | $902,742 |
Depreciation expense was$0.8 million and$0.6 million for the three months ended March 31, 2025 and 2024, respectively. Depletion expense was$0.7 million and$1.0 million for the three months ended March 31, 2025 and 2024, respectively.
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