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LandBridge Company LLC

LandBridge Company LLC, together with its subsidiaries, owns and manages land and resources supporting oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico, and holds a portfolio of oil and gas royalties. The company also sells brackish water and other surface composite materials. Founded in 2021 and headquartered in Houston, Texas, LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.

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United States
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LandBridge Prices Upsized $125 Million Add-On to 6.250% Senior Notes Due 2030

LandBridge Company LLC announced that its subsidiary DBR Land Holdings LLC has priced an upsized offering of $125 million in aggregate principal amount of 6.250% senior notes due 2030 at 99.375% of par. The offering was upsized from the previously announced size of $100 million and is expected to close on October 1, 2026, subject to customary closing conditions. The new notes are being issued as additional notes under the indenture dated November 25, 2025, under which the issuer previously sold $500 million of 6.250% senior notes due 2030, and will carry identical terms other than issue date and issue price, forming part of the same series as the existing notes. LandBridge intends to use the net proceeds to repay a portion of outstanding borrowings under its revolving credit facility. The notes were not registered under the Securities Act and are being offered in the United States only to qualified institutional buyers under Rule 144A and outside the United States under Regulation S.
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LB · Capital · Neutral LandBridge prices an upsized $125M add-on of 6.250% senior notes due 2030 and will use proceeds to repay revolver borrowings.
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United States
Energy Transition & Power Demand▲

LandBridge posts record Q2 revenue, reaffirms 2026 guidance

LandBridge reported record second-quarter 2026 revenue of $66.8 million, up 41% year-over-year and 31% sequentially, and reaffirmed full-year adjusted EBITDA guidance of $210 million to $230 million. Adjusted EBITDA was $59.8 million with an 89% margin, while free cash flow reached $40.2 million, a 60% margin. The company said it is under LOI, option, or in late-stage negotiations with seven power and digital infrastructure counterparties representing more than 10 gigawatts of potential across its Delaware Basin footprint. LandBridge also announced its board unanimously approved conversion from a Delaware LLC to a Texas corporation to broaden index eligibility, and declared a $0.12 per share dividend.
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Energy Transition & Power Demand
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Energy Transition & Power Demand › Grid, Transmission & Power Equipment Demand
LB · Capital · Positive Record Q2 revenue and reaffirmed guidance highlight strong financial performance.
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United States
Energy Transition & Power Demand▲2

LandBridge reports record Q2 revenue of $66.8 million, reaffirms 2026 EBITDA guidance

LandBridge Company LLC reported record second-quarter revenue of $66.8 million, up 41% year over year, and reaffirmed its full-year 2026 adjusted EBITDA guidance of $210 million to $230 million. Adjusted EBITDA rose 41% to $59.8 million, with an adjusted EBITDA margin of 89%, while free cash flow was $40.2 million. The company is in advanced discussions with seven counterparties representing more than 10 gigawatts of potential power-generation and data-center capacity, with some projects expected to begin generating lease revenue by the end of 2027. LandBridge also increased its revolving credit facility to $375 million, reduced borrowing costs by 25 basis points, and reported a net leverage ratio of 2.5 times. The board declared a $0.12 quarterly dividend and approved a conversion from a Delaware limited liability company to a Texas corporation to potentially broaden index eligibility and its investor base.
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Energy Transition & Power Demand ▲
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Energy Transition & Power Demand › Grid, Transmission & Power Equipment ▲Demand
LB · Capital · Positive Record Q2 revenue and EBITDA, reaffirmed guidance, increased credit facility, and dividend declaration.
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LandBridge Company LLC Bullish Thesis Highlights Produced Water and Surface Revenue Upside

A bullish thesis on LandBridge Company LLC was published on Valueinvestorsclub.com by Jumbos02, emphasizing the company's potential from produced water and long-term surface revenue growth. LandBridge owns approximately 315,000 acres in the Texas–New Mexico Delaware Basin and generates high-margin recurring revenues through fees and royalties tied to infrastructure and resource activity. Management estimates a roughly $300 million incremental free cash flow opportunity over the next five years from produced water alone, compared to a 2025 EBITDA base of $177 million and free cash flow of $122 million. Long-term surface revenue efficiency is expected to rise to $2,500 or more per acre by 2035, implying 15 to 20 percent annual EBITDA growth and cumulative free cash flow generation of $3 to $4 billion against a $4.9 billion market cap. The thesis also notes optionality in data centers, energy infrastructure, and industrial development, supported by Five Point Energy's ecosystem.
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LB · Capital · Positive Bullish thesis highlights $300M incremental FCF from produced water and long-term surface revenue growth, implying 15-20% annual EBITDA growth.
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