WaterBridge Infrastructure, which provides comprehensive water services and infrastructure for E&Ps, announced terms for its IPO on Monday.
The Houston, TX-based company plans to raise $500 million by offering 27 million shares at a price range of $17 to $20. At the midpoint of the proposed range, WaterBridge Infrastructure would command a fully diluted market value of $2.1 billion.
WaterBridge operates the largest produced water infrastructure network in the United States with approximately 2,500 miles of pipelines and 196 produced water handling facilities, which handled over 2.6 million barrels per day (bpd) of produced water and had more than 4.5 million bpd of total produced water handling capacity. Its customers including Permian Resources, Devon Energy, EOG Resources, and Chevron.
WaterBridge Infrastructure was founded in 2016 and booked $722 million in revenue for the 12 months ended June 30, 2025. It plans to list on the NYSE under the symbol WBI. J.P. Morgan, Barclays, Goldman Sachs, Morgan Stanley, Wells Fargo Securities, Piper Sandler, Raymond James, and Stifel are the joint bookrunners on the deal. It is expected to price the week of September 15, 2025.
