WaterBridge Raises $634M in US IPO

WaterBridge Infrastructure, a firm specializing in oilfield water management, has successfully raised $634 million through its U.S. initial public offering (IPO). The Houston-based company offered 31.7 million shares at $20 per share, establishing a post-offering valuation of $2.3 billion. Supported by private equity firm Five Point, WaterBridge focuses its operations primarily in the Delaware Basin. The company provides essential water gathering, transportation, and recycling services to oil exploration and production companies. Its notable client roster includes BPX Energy, Chevron, Devon Energy, and EOG Resources. This IPO debut occurs during a period of significant market activity for public offerings. WaterBridge's listing is expected to gauge investor interest in midstream water management companies, which characteristically generate consistent cash flows through long-term contracts. The company will be listed on the New York Stock Exchange under the ticker symbol "WBI."