In short: One of "the few other IPOs we've participated in, lately" — named alongside White Hawk Minerals as sharing the qualitative and valuation characteristics that suit the firm's selection criteria. The Permian water midstream adjacent to the LandBridge surface position; the commentary gives no ticker or separate thesis for it here.
Full passage: premium transcript (PDF).
In short: The Five-Point-controlled Permian water midstream that funds growth on LandBridge's surface (pipelines/easements + saltwater-disposal injection); the LandBridge thesis runs through it.
1:08:07So, LandBridge, to make a easy comparison, think of it as a triple-net land lease. And WaterBridge, via the private equity sponsor, funds the growth on that land position to enable them to expand their water infrastructure business through easements for the pipelines, but then also areas for injection into the saltwater disposal wells.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.