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Regulatory enforcement action

Time-sensitive event — see the red-flag panel below for the source-quoted detail.

Red Flags Detected

  • Enforcement Action (new) — Texas Railroad Commission enforcement action seeks $6.9 million reimbursement for orphan well plugging expenses; company believes action is without merit and has requested hearing.
NYSE: WBI WaterBridge Infrastructure LLC 10-Q

WaterBridge Q2 revenue +128% to $217.8M, net income to $5.1M on merger integration

Filed August 6, 2026 · Period ending June 30, 2026 · ~2 min read

Key Changes

  • high

    Q2 2026 revenue reached $217.8M (+128% YoY) and net income $14.6M (+104% YoY), driven by the September 2025 WaterBridge Combination merger and organic volume growth in the Delaware Basin. Adjusted EBITDA rose 185% to $115.8M with margin expanding to 53% from 42%.

    MD&A: Q2 2026 Results verify on EDGAR →
  • high

    Texas Railroad Commission enforcement action seeks $6.9M reimbursement for orphan well plugging expenses near a WBTO-operated facility. Company disputes the claim and requested a hearing; no hearing date set as of August 5, 2026.

    Controls: RRC Enforcement verify on EDGAR →
  • high

    Company agreed to acquire an environmental waste facility in Lea County, NM for net $169M (gross $189M less $20M surface sale to related party LandBridge). Transaction expected to close Q3 2026, funded by revolver and cash.

    MD&A: Acquisition verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 27, 2026 · How we verify