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
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
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.