v3.26.1
The Company
3 Months Ended
Mar. 31, 2026
Product Information [Line Items]  
The Company
1.
The Company

Organization

EagleRock Land, LLC ("EagleRock" or the "Company”) was formed as a Texas limited liability company on December 1, 2025. Prior to the IPO (as defined below) Lea & Eddy Holdings, LLC (the "Predecessor") was the sole member of the Company. The Company was capitalized with a deemed non-cash contribution of $1,000 by the Predecessor on December 1, 2025.

On May 4, 2026, the Company, EagleRock Land Operating, LLC ("OpCo") and certain contributing entities (collectively, the "Contributors") entered into a Contribution and Assignment Agreement pursuant to which certain contributions and corporate reorganization steps were effected on May 15, 2026 in connection with the closing of EagleRock's proposed initial public offering (the “IPO”).

In the IPO, the Company issued 17,300,000 Class A shares representing limited liability company interests ("Class A shares") at a price to the public of $18.50 per share. In addition, EagleRock granted the underwriters a 30-day option to purchase up to an additional 2,595,000 Class A shares at the public offering price, less underwriting discounts and commissions, which the underwriters exercised in full on May 16, 2026. Concurrently with the closing of the IPO, (i) all interests in the subsidiaries of the Predecessor, DE IV Flow LLC ("DE Flow") and the Shallow Valley Ranch (the "Shallow Valley Ranch ") were contributed to OpCo in exchange for limited liability company interests in OpCo and (ii) cash was contributed to the Company by such contributors in exchange for a corresponding number of the Company's Class B shares representing limited liability company interests ("Class B shares"). Refer to Note 5 – Subsequent Events for more information.

The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act provides that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of this extended transition period, and as a result, we will comply with new or revised accounting standards on the relevant dates on which adoption is required for private companies. We would cease to be an emerging growth company if we have more than $1.235 billion in annual revenues, or more than $700.0 million in market value of our common units held by non-affiliates or issue more than $1.0 billion of non-convertible debt securities over a three-year period.

Lea & Eddy Holdings, LLC  
Product Information [Line Items]  
The Company
1.
The Company

Organization

Lea & Eddy Holdings, LLC (together with its Subsidiaries, “the Company”, “we”, “us”, or “our”) was formed as a Texas limited liability company on December 7, 2023. The Company has a single class of equity, designated as Common Units.

 

The Company commenced business operations in January 2024. The Company has the following wholly owned subsidiaries, Hydrosource Logistics, LLC (“Hydrosource”), and Hydrosource Logistics Waste Management, LLC. Additionally, Desert Ram Holdings, LLC (“Desert Ram”), Desert Ram South, Incorporated (“Desert Ram South”), NGL North Ranch, LLC and NGL South Ranch Inc. were acquired in April 2024 (the "Desert Ram Acquisition"). In January 2025, NGL North Ranch, LLC and NGL South Ranch, Inc. obtained, in connection with the Desert Ram Acquisition, name change certificates from the State of Texas and State of New Mexico to operate as Desert Ram North, LLC and Desert Ram South Ranch, Inc., respectively.

 

Collectively, these entities are referred to as the "Subsidiaries." The condensed consolidated financial statements include the accounts of Lea & Eddy Holdings, LLC and the Subsidiaries.

 

In December 2025, in connection with a proposed initial public offering ("IPO"), the Company formed EagleRock Land, LLC, a Texas limited liability company (the “Registrant”). At the closing of the IPO, the Registrant consolidated certain existing assets of the Company together with specified assets acquired in connection with any related acquisition.

Business

The Company provides a range of well site services to U.S. exploration and production (“E&P”) companies in the Southeastern New Mexico and Permian Basin. These services are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. Our service offerings include water sales for oil and gas exploration, surface development activities in connection with oil and gas development and leases of our land.