v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination [Line Items]  
Schedule of Unaudited Summary Financial Information

The following unaudited summary financial information for the three and six months ended June 30, 2026 as well as the three and six months ended June 30, 2025 gives effect to the DE Flow Contribution, the Hydrosource Distribution, the Shallow Valley Contribution, and the Accelerated Acquisition as if they had been completed on January 1, 2025. The unaudited pro forma financial information is provided for illustrative purposes only and does not purport to represent what the actual consolidated results of operations or the consolidated financial position of the Company would have been had the DE Flow Contribution, the Hydrosource Distribution, the Shallow Valley Contribution, and the Accelerated Acquisition and related financing occurred on the date noted above, nor is it indicative of future results. The operations related to the DE Flow Contribution and the Shallow Valley Contributions were included in the Company’s results as of May 15, 2026, and the operations related to the Accelerated Acquisition were included in the Company’s results as of April 14, 2025.

 

 

 

Three Months Ended June 30,

 

Six Months Ended
June 30,

 

(in thousands)

 

2026

 

2026

 

Total revenue

 

$

49,567

 

$

84,905

 

Net income (loss)

 

$

(36,683

)

$

(26,646

)

 

 

 

Three Months Ended June 30,

 

Six Months Ended
June 30,

 

(in thousands)

 

2025

 

2025

 

Total revenue

 

$

38,132

 

$

80,936

 

Net income (loss)

 

$

(64,190

)

$

(42,311

)
DE Flow Contribution  
Business Combination [Line Items]  
Summary of Allocation of the Purchase Price at the Date of Acquisition

The following table summarizes the preliminary allocation of the purchase price at the date of acquisition for the DE Flow Contribution:

(in thousands)

 

 

 

Purchase price, net

 

$

988,583

 

Fair value of total consideration transferred

 

$

988,583

 

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

 

 

Property, plant and equipment

 

 

78,175

 

Intangible assets

 

 

454,063

 

Asset retirement obligations

 

 

(2,642

)

Reimbursement payable

 

 

(8,418

)

Goodwill

 

 

467,405

 

Net assets acquired

 

$

988,583

 
Shallow Valley Contribution  
Business Combination [Line Items]  
Summary of Allocation of the Purchase Price at the Date of Acquisition

The following table summarizes the preliminary allocation of the purchase price at the date of acquisition for the Shallow Valley Contribution:

 

(in thousands)

 

 

 

Purchase price, net

 

$

455,445

 

Fair value of total consideration transferred

 

$

455,445

 

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

 

 

Property, plant and equipment

 

 

244,872

 

Other noncurrent assets

 

 

1,499

 

Intangible assets

 

 

40,285

 

Reimbursement payable

 

 

(7,076

)

Goodwill

 

 

175,865

 

Net assets acquired

 

$

455,445

 
Accelerated Water Resources, LLC  
Business Combination [Line Items]  
Summary of Allocation of the Purchase Price at the Date of Acquisition

The following table summarizes the allocation of the purchase price at the date of acquisition:

 

(in thousands)

 

 

 

Purchase price, net

 

$

191,684

 

Fair value of total consideration transferred

 

$

191,684

 

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

 

 

Accounts receivable

 

 

9,748

 

Accrued revenue

 

 

4,984

 

Other current assets

 

 

350

 

Biological assets – cattle

 

 

737

 

Ranch properties

 

 

16,630

 

Property, plant and equipment

 

 

23,527

 

Intangible assets

 

 

138,894

 

Accounts payable

 

 

(1,402

)

Taxes payable

 

 

(887

)

Accrued liabilities

 

 

(897

)

Net assets acquired

 

$

191,684