LandBridge Company LLC - LB STOCK NEWS

LandBridge (NYSE: LB) has completed the acquisition of ~5,800 surface acres in Lea County, New Mexico, expanding its Delaware Basin presence. Combined with recent acquisitions including the Wolf Bone Ranch agreement, LandBridge's Q4 2024 acquisitions total ~53,080 acres at a 7.6x 2025E EBITDA multiple. The company's total surface acreage will reach ~272,000 acres post-Wolf Bone Ranch closing. The acquisitions are expected to provide >20% accretion to 2025E FCF per share and increase 2025 Adjusted EBITDA guidance to $170-190 million. Financing includes equity and debt, with management and Five Point Energy maintaining ~70% ownership post-private placement.

LandBridge (NYSE: LB) has announced an agreement to acquire the Wolf Bone Ranch, comprising 46,000 surface acres in the Southern Delaware Basin, for $245 million in cash from VTX Energy Partners. The acquisition includes land with existing produced water operations processing 300 MBbls/d and features a $25 million minimum annual revenue commitment from VTX Energy for five years. The transaction will be partially funded through a private placement of 5,830,419 Class A shares at $60.03 per share. The acquisition and private placement are expected to close in Q4 2024, increasing LandBridge's total holdings to approximately 272,000 surface acres.

LandBridge Company (NYSE: LB) reported Q3 2024 financial results with revenue of $28.5 million, up 60% year-over-year. The company posted a net loss of $2.8 million and Adjusted EBITDA of $25.0 million, up 62% year-over-year. Key highlights include a declared initial quarterly cash dividend of $0.10 per share, acquisition of 1,280 surface acres in Texas, and a purchase agreement for 5,800 acres in New Mexico. The company also entered into a lease development agreement for a data center in Reeves County, Texas, and provided FY24 Adjusted EBITDA guidance of $95-100 million and FY25 guidance of $140-160 million.

LandBridge Company has announced the schedule for its third quarter 2024 earnings release and conference call. The financial results will be released after market close on Wednesday, November 6, 2024. A webcast and conference call to discuss the results will be held on Thursday, November 7, 2024, at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time.

To access the live webcast, investors can visit the Investor Relations section of LandBridge's website. For the conference call, participants should dial (800) 715-9871 (or (646) 307-1963 for international participants) and provide the Conference ID 4907698. An audio replay will be available until November 21, 2024, accessible by dialing (800) 770-2030 with the same Conference ID.

LandBridge Company (NYSE: LB) reported Q2 2024 financial results, showing 20% year-over-year revenue growth to $26.0 million. The company posted a net loss of $57.7 million, primarily due to a $71.8 million non-cash expense related to incentive units. Adjusted EBITDA increased 24% to $23.4 million, with a 90% margin. LandBridge completed acquisitions of East Stateline Ranch and Speed Ranch, expanding its total surface ownership to approximately 220,000 acres. The company also closed its IPO and entered a non-binding LOI for a data center development. LandBridge's diversified revenue streams include surface use royalties, resource sales, and oil and gas royalties. The company generated $16.0 million in operating cash flow and $15.7 million in free cash flow.

LandBridge Company (LB) has announced the schedule for its second quarter 2024 earnings release and conference call. The financial results will be released after market close on Wednesday, August 7, 2024. A webcast and conference call to discuss the results will be held on Thursday, August 8, 2024, at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time.

Investors can access the live webcast through the Investor Relations section of LandBridge's website. For those unable to attend in real-time, the webcast will be archived. To join the live conference call, participants should dial (800) 715-9871 (or (646) 307-1963 for international callers) and use the Conference ID 4907698. An audio replay will be available until August 22, 2024, accessible by dialing (800) 770-2030 with the same Conference ID.

Pickering Energy Partners (PEP) served as a co-manager for LandBridge Company’s initial public offering (IPO) of 14,500,000 Class A shares. The IPO was successfully closed on July 1, 2024.

LandBridge Company has successfully closed its initial public offering (IPO) of 14.5 million Class A shares at $17.00 per share, generating around $270.9 million in net proceeds. Additionally, underwriters fully exercised their option to purchase an extra 2.175 million shares. The Class A shares, trading under the ticker 'LB' on the NYSE since June 28, 2024, were also sold to an accredited investor in a concurrent private placement of 750,000 shares at the same price. Leading managers for the offering included Goldman Sachs and Barclays, among others. This financial move is expected to bolster LandBridge's capital base significantly.

LandBridge has announced the pricing of its initial public offering (IPO) and a concurrent private placement. The company is offering 14,500,000 Class A shares at $17.00 per share, with an additional 2,175,000 shares available for underwriters to purchase within 30 days. The shares will trade on the NYSE under the ticker symbol 'LB' starting June 28, 2024, with the offering expected to close on July 1, 2024.

The concurrent private placement involves selling 750,000 Class A shares at the same price to an accredited investor. Through both the IPO and private placement, LandBridge expects net proceeds of approximately $236.1 million, or $270.9 million if the underwriters exercise their full option. The proceeds will be used for underwriting discounts, commissions, and other expenses.

Goldman Sachs and Barclays are leading the offering, supported by other financial institutions. The IPO and private placement are contingent upon satisfying customary closing conditions. A registration statement for the IPO was declared effective by the SEC on June 27, 2024.