LandBridge Co LLC
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout this filing
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.
Sep 30, 2025 · Filed Nov 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
10. Related Party Transactions
Related Party Transactions
| Three Months EndedSeptember 30, · Nine Months EndedSeptember 30, | |||||
|---|---|---|---|---|---|
| Financial Statements Location | 2025 | 2024 | 2025 | 2024 | |
| Revenues - Related Party | |||||
| Affiliate access agreements | Surface use royalties | $10,152 | $5,627 | $24,743 | $11,902 |
| Affiliate access agreements | Easements and other surface-related revenues | 807 | 1,465 | 6,388 | 4,224 |
| Affiliate access agreements | Resource royalties | 1,604 | 1,472 | 5,558 | 2,579 |
| Affiliate access agreements | Resource sales | 731 | 57 | 1,098 | 329 |
| $13,294 | $8,621 | $37,787 | $19,034 | ||
| September 30, · December 31, | |||
|---|---|---|---|
| Financial Statements Location | 2025 | 2024 | |
| Accounts Receivable - Related Party | |||
| Affiliate access agreements | Related party accounts receivable | $4,564 | $2,111 |
| Accounts Payable - Related Party | |||
| Shared services agreement | Related party accounts payable | $902 | $686 |
Shared Services Agreement
The Company is party to a services agreement with WaterBridge Operating LLC (“WaterBridge Operating”), an affiliate of the Company, and other affiliates pursuant to which the Company receives common management and general, administrative, overhead and operating services in support of the Company’s operations and development activities. The Company reimburses all fees incurred by WaterBridge Operating or its affiliates for services provided to the Company under the agreement. For shared services, the basis of allocation is an approximation of time spent on activities supporting the Company. For shared expenses paid on behalf of the Company, the costs are directly allocated to the Company based on its pro rata share of the expenses. For the three months ended September 30, 2025 and 2024 the Company paid approximately$2.5 million and$6.5 million for the shared services and direct cost reimbursements, respectively. For the nine months ended September 30, 2025 and 2024, the Company paid approximately$8.1 million and$8.6 million for the shared services and direct cost reimbursements, respectively.
Affiliate Access Agreements
The Company is party to facility access and surface use agreements and easements and rights-of-way with WaterBridge Infrastructure LLC and its subsidiaries (“WaterBridge”). Under these agreements, the Company has granted WaterBridge certain rights to construct, operate and maintain produced water, brackish water and waste reclamation facilities on our land, as applicable, in the ordinary course of business. Each of these agreements includes a standard fee schedule and provision for specified surface use activities. Each of these agreements also includes a provision for royalties related to certain specified activities.
Legacy Financial Sponsor Services Agreement
Five Point Infrastructure LLC (“Five Point”), our legacy financial sponsor, invoices the Company, and the Company reimburses Five Point in cash, for expenses associated with the Company’s use of Five Point’s geographic information system (“GIS”) and certain legal services provided by Five Point. The reimbursement includes allocated Five Point personnel costs and third-party software and hardware expenses and is determined based on the Company’s use of Five Point’s total services for such period. The Company paid reimbursements for GIS and legal services of$0.1 million in each of the three months ended September 30, 2025 and 2024 and$0.3 million for each of the nine months ended September 30, 2025 and 2024.
Notes to the Unaudited Condensed Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.