Summary
LandBridge: The AI Data Center Thesis Is Real, But The Valuation Is Already Pricing It In
LandBridge Company LLC delivers exceptional margin and growth via its unique land-licensing model in the Permian Basin. Q2 results highlight 41% revenue and EBITDA growth, with EBITDA margins near 90% and robust free cash flow. LB is pursuing data center and power generation projects, including a 2 GW PowerBridge agreement, but revenue realization remains uncertain.
LandBridge: My Biggest Investment Ever Is Just Getting Started
LandBridge is my largest holding, driven by its unique Permian Basin land portfolio and strategic positioning for data center and produced water growth. LB's latest quarter confirmed real progress: seven counterparties are in late-stage negotiations for over 10 GW of power/data center projects, with revenue expected before the end of next year. Produced water remains a robust growth engine, with sequential disposal volumes up 15% and pricing expected to reach $0.15 per barrel, supporting EBITDA growth to $360M by 2029.
LandBridge Q2 Earnings Call Highlights
LandBridge NYSE: LB reported record second-quarter revenue of $66.8 million, up 41% from a year earlier and 31% sequentially, as produced-water activity and commercial development across its Delaware Basin acreage increased. The company reaffirmed its full-year 2026 adjusted EBITDA guidance of $210 million to $230 million.
LandBridge Company LLC Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 4 | $276 | $343.72 | $67.72 | 24.54% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 58,077 | $4.06M | $5.02M | $965,239.74 | 23.79% |
| TC Tyler Chaisson COMPASS CAPITAL Corp. /MA/ /ADV | 3,722 | $259,981.7 | $321,841.34 | $61,859.64 | 23.79% |
| ALA Anne L. Arnold Santa Monica Partners LP | 18,000 | $1.03M | $1.56M | $521,800 | 50.43% |
| JAZ John A. Zaro, III Bourgeon Capital Management LLC | 5,691 | $392,964 | $441,166.32 | $48,202.32 | 12.27% |
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LandBridge Company LLC Profile
| Energy Equipment & Services Industry | Energy Sector | Jason Long CEO | NYSE Exchange | 514952100 CUSIP |
| US Country | 4 Employees | 27 Aug 2026 Last Dividend | 31 May 2000 Last Split | - IPO Date |
Overview
LandBridge Company LLC, established in 2021 and headquartered in Houston, Texas, specializes in managing land and resources aimed at supporting and augmenting the oil and natural gas sector in the United States. With a strategic focus on the Delaware Basin located in Texas and New Mexico, the company leverages its surface acres to facilitate various operations within the energy sector. Operating as a subsidiary of LandBridge Holdings LLC, it aligns with the broader goals of enhancing energy resource management and development across its operational areas.
Products and Services
- Oil and Gas Royalties:
LandBridge Company LLC holds a substantial portfolio of oil and gas royalties, enabling it to generate revenue from the extraction of these resources on its land. Through strategic management and leveraging of its assets, the company secures a consistent income stream while contributing to the energy supply chain.
- Brackish Water Sales:
The company also engages in the sale of brackish water, a byproduct of oil and natural gas extraction processes. This offering not only represents an environmentally responsible method of managing water produced during extraction but also serves as an additional revenue stream for the company.
- Surface Composite Materials Sales:
LandBridge Company LLC sells various surface composite materials, which are likely used in the construction and maintenance of infrastructure necessary for oil and natural gas development. This diversification into materials sales allows the company to support the broader operational needs of the energy sector while tapping into new market opportunities.
