LandBridge Co LLC Files Q3 2024 10-Q
Ticker: LB · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1995807
Sentiment: neutral
Topics: 10-Q, oil-royalty, acquisition, credit-agreement
TL;DR
**LandBridge Q3 10-Q is IN. Royalties and asset deals detailed. Check financials.**
AI Summary
LandBridge Co LLC filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates, including information related to resource royalties and asset acquisitions. Specific financial figures and dates are provided within the report, which is crucial for understanding the company's current standing.
Why It Matters
This 10-Q filing provides investors and analysts with a detailed look at LandBridge's financial health and operational activities for the third quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard financial reporting for a public company, but specific details on acquisitions and credit agreements could introduce medium-level risk.
Key Numbers
- Q3 2024 — Reporting Period (The period covered by the 10-Q filing.)
- 2024-09-30 — As of Date (The specific date for which financial data is reported.)
- 2024-11-07 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- LandBridge Co LLC (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-07 (date) — Filing date
- Loving Winkler And Lea County Asset Acquisition (event) — Specific asset acquisition mentioned
- Credit Agreement Amendment (event) — Related to Term Loan
FAQ
What were the key financial highlights for LandBridge Co LLC in Q3 2024?
The 10-Q filing for the period ending September 30, 2024, provides detailed financial information, but specific dollar amounts for Q3 revenue or profit are not explicitly stated in the provided header data.
What is the significance of the 'Loving Winkler And Lea County Asset Acquisition' mentioned in the filing?
This acquisition, dated May 10, 2024, is noted in the filing, indicating a strategic move by LandBridge Co LLC to expand its asset base.
Were there any amendments to LandBridge's credit agreements during this period?
Yes, the filing mentions a 'Credit Agreement Amendment' related to the 'Term Loan' on May 10, 2024.
What types of royalties does LandBridge Co LLC report on?
The filing references 'Resource Royalties' and 'Surface Use Royalties', distinguishing between related and non-related party transactions for these.
What is the company's fiscal year end?
LandBridge Co LLC's fiscal year ends on December 31.
Filing Stats: 4,415 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-11-06 21:55:12
Filing Documents
- lb-20240930.htm (10-Q) — 1896KB
- lb-ex10_7.htm (EX-10.7) — 2163KB
- lb-ex31_1.htm (EX-31.1) — 9KB
- lb-ex31_2.htm (EX-31.2) — 9KB
- lb-ex32_1.htm (EX-32.1) — 5KB
- lb-ex32_2.htm (EX-32.2) — 5KB
- img34332061_0.jpg (GRAPHIC) — 8KB
- 0000950170-24-122700.txt ( ) — 9679KB
- lb-20240930.xsd (EX-101.SCH) — 1191KB
- lb-20240930_htm.xml (XML) — 981KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION Glossary 3 Cautionary Note Regarding Forward Looking Statements 6 Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 9 Condensed Consolidated Balance Sheets 9 Condensed Consolidated Statements of Operations 10 Condensed Consolidated Statements of Shareholders' and Member's Equity 11 Condensed Consolidated Statements of Cash Flows 12 Notes to the Unaudited Condensed Consolidated Financial Statements 13 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.
Controls and Procedures
Controls and Procedures 49
— OTHER INFORMATION
PART II — OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 50 Item 1A.
Risk Factors
Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults upon Senior Securities 50 Item 4. Mine Safety Disclosures 50 Item 5. Other Information 50 Item 6. Exhibits 52
Signatures
Signatures 53 2 GLOSSARY The following are abbreviations and definitions of certain terms used in this document, many of which are commonly used in the industry: Acquired Lands . The Lea County Ranches, East Stateline Ranch and the Speed Ranch. Acquisitions . The East Stateline Acquisition, the Speed Acquisition and the Lea County Acquisition. Bbl . One barrel of volume used for measuring oil. Boe . A barrel of oil equivalent, which is used to express crude oil, NGL and natural gas volumes on a comparable crude oil equivalent basis. Gas equivalents are determined under the relative energy content method by using the ratio of 6.0 Mcf of natural gas to 1.0 Bbl of crude oil or NGL. Bpd . Barrels per calendar day. Brackish Water . Water with salinity levels between seawater and freshwater. CAGR . Compound annual growth rate. Caliche . A crust of coarse sediment or weathered soil in calcium carbonate. It forms when lime-rich groundwater rises to the surface by capillary action and evaporates into a crumbly-like powder, forming a tough, indurated sheet called calcrete. Completion . Installation of permanent equipment for production of natural gas, NGLs or oil or, in the case of a dry well, to reporting to the appropriate authority that the well has been abandoned. Crude Oil . A mixture of hydrocarbons that exists in liquid phase in natural underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities. Delaware Basin . A geological depositional and structural basin in West Texas and southern New Mexico, which is a part of the Permian Basin. Desert Environmental . Desert Environmental LLC, a Delaware limited liability company, a portfolio company of funds affiliated with Five Point and an affiliate of the Company. East Stateline Ranch . Approximately 103,000 surface acres in Loving and Winkler Counties, Texas and Lea County, New Mexico. East Stateline Acquisition . The acquisition of