v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 24,076 $ 8,836
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 141,047 42,186
Amortization of debt issuance costs 2,070 2,138
Share-based compensation 5,167 1,382
Contractual customer relationships amortization 916 916
(Gain) loss on disposal of assets, net (66) 11,691
Tax receivable agreement remeasurement 3,236 0
Deferred income tax expense 2,700 0
Other 827 98
Changes in operating assets and liabilities:    
Accounts receivable (4,511) (19,153)
Related party accounts receivable (9,275) 7,669
Prepaid expenses and other assets 6,840 2,213
Accounts payable 5,134 3,527
Taxes payable 609 89
Related party accounts payable (237) (6,516)
Contract liabilities (295) (174)
Accrued and other liabilities (18,240) 4,277
Net cash provided by operating activities 159,998 59,179
Cash flows from investing activities    
Acquisitions, net of cash acquired (82,760) (71)
Capital expenditures (234,226) (129,983)
Proceeds from disposal of assets 1,298 19,767
Net cash used in investing activities (315,688) (110,287)
Cash flows from financing activities    
Proceeds from debt 175,000 35,000
Dividends, dividend equivalents and distributions paid (12,432) 0
Repayments on term loans (8,733) (3,640)
Offering costs (1,166) (756)
Repayments of finance leases (626) (636)
Deferred offering costs (244) 0
Debt issuance costs (17) (242)
Taxes paid related to net share settlement of RSUs (11) 0
Contributions from member 0 20,000
Net cash provided by (used in) financing activities 151,771 49,726
Net decrease in cash and cash equivalents (3,919) (1,382)
Cash and cash equivalents - beginning of period 51,543 13,284
Cash and cash equivalents - end of period $ 47,624 11,902
WaterBridge Equity Finance L L C [Member]    
Cash flows from operating activities    
Net income (loss)   (29,821)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion   59,298
Amortization of debt issuance costs   4,594
Share-based compensation   7,397
Contractual customer relationships amortization   733
Other   342
Changes in operating assets and liabilities:    
Accounts receivable   (6,081)
Related party accounts receivable   (131)
Prepaid expenses and other assets   (1,161)
Accounts payable   1,119
Related party accounts payable   88
Contract liabilities   (484)
Accrued and other liabilities   (7,912)
Net cash provided by operating activities   27,981
Cash flows from investing activities    
Capital expenditures   (47,236)
Proceeds from disposal of assets   2,195
Net cash used in investing activities   (45,041)
Cash flows from financing activities    
Distributions paid on Redeemable Series A Preferred Units   (8,872)
Distributions paid to member   (10)
Proceeds from debt   15,000
Repayments of debt   (13,178)
Settlement of contingent consideration   (2,700)
Offering costs   (843)
Debt issuance costs   (120)
Net cash provided by (used in) financing activities   (10,723)
Net decrease in cash and cash equivalents   (27,783)
Cash and cash equivalents - beginning of period   47,887
Cash and cash equivalents - end of period   $ 20,104