LandBridge Company LLC(LB) - 2025 Q2 - Earnings Call Presentation

Financial Performance Highlights - Revenue increased by 83% year-over-year[9] - Adjusted EBITDA increased by 81% year-over-year[9] - Record Surface Use Royalties and Revenues reached $34.2 million[9] - Non-oil and gas royalty revenue accounted for approximately 94% of total revenue in Q2 2025[9] - Free Cash Flow Margin was 76% in Q2 2025[15] Strategic Agreements and Projects - A 10-year surface use and pore space reservation agreement was secured with Devon Energy, guaranteeing 300,000 bpd of pore space capacity with a minimum delivery of 175,000 bbls/day on East Stateline and Speed Ranches[9, 14] - A lease option agreement was executed with a large public IPP for the development, operation, and construction of a natural gas-fired advanced combined cycle gas turbine ("CCGT") plant[9, 14] Capital Allocation - A quarterly cash dividend of $0.10 per share was announced, payable on September 18th to shareholders of record as of September 4th[9] - The company targets a net leverage ratio between 20x and 25x[36] Revenue Streams - Surface Use Royalties and Revenues accounted for 66% of YTD 2025 revenue[26] - Resource Sales and Royalties accounted for 27% of YTD 2025 revenue[26] - Oil and Gas Royalties accounted for 7% of YTD 2025 revenue[26]