LandBridge Announces Agreement to Acquire ~37,500 Total Acres in the Delaware Basin

LandBridge Company LLC (NYSE: LB) (“LandBridge”) today announced that it has entered into an agreement to acquire approximately 37,500 total acres, across Loving, Reeves, Winkler and Ward counties, Texas, from 1918 Ranch & Royalty, LLC (the “Acquisition”), with closing anticipated to occur in the fourth quarter of 2025, subject to customary closing conditions. The acreage to be acquired consists of approximately 22,000 fee surface acres, approximately 3,500 surface acres held pursuant to a long-term management agreement and approximately 12,000 leasehold surface acres.

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Upon closing, this transaction will provide LandBridge with immediate access to high-quality pore space adjacent to its large contiguous surface acreage position in Loving County, Texas. This acreage position is expected to support additional water handling infrastructure necessary to handle escalating commercial produced water volumes in the Stateline region of the Delaware Basin, expanding LandBridge’s ability to deliver economic pore space alternatives to a broader customer base. Beyond subsurface assets, the contiguous acreage in northern Reeves County to be acquired in this transaction is well-positioned for alternative energy development due to its proximity to industry demand and current and planned transmission infrastructure, aligning with LandBridge’s commitment to continue optimizing the commercial and strategic value of its acreage position.

“This acquisition not only bolsters LandBridge’s capacity to meet rising demand for high quality pore space but also unlocks new avenues for sustainable surface utilization across our portfolio,” said Jason Long, Chief Executive Officer of LandBridge. “Furthermore, we are proud to partner with both 1918 Ranch & Royalty and Mike Harrison and the Harrison family, which currently operates one of the largest ranching operations in Texas, to continue the long legacy of this great asset.”

Kevin Hunstable and Dylan Stone, executives of 1918 Ranch & Royalty, said, “We are excited to announce this agreement with LandBridge. We believe that we have built a truly unique asset that will further increase LandBridge's high-quality acreage position. We look forward to working with LandBridge to continue creating value and building the business in the months and years ahead.”