{
  "url": "https://struct.news/briefs/waterbridges-disclosed-web-runs-through-devon-and-landbridge",
  "title": "WaterBridge’s disclosed web runs through Devon and LandBridge",
  "summary": "WaterBridge sells to major oil producers, but its clearest disclosed ties are tighter: Devon is a major customer, strategic partner, and 14.4% owner, while LandBridge is both supplier and partner.",
  "published_at": "2026-08-05T23:48:45.872371+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "WaterBridge Infrastructure LLC",
    "ticker": "WBI",
    "cik": null,
    "sector": "Energy",
    "industry": null
  },
  "source_filing": null,
  "comparison_filing": null,
  "reported_figures": [
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "LB",
      "value": "LB",
      "display": "LB",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "DVN",
      "value": "DVN",
      "display": "DVN",
      "unit": "ticker",
      "period": null,
      "detail": "19.0% revenue",
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "CVX",
      "value": "CVX",
      "display": "CVX",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "LB",
      "value": "LB",
      "display": "LB",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "TPL",
      "value": "TPL",
      "display": "TPL",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "DVN",
      "value": "DVN",
      "display": "DVN",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    },
    {
      "group": "WaterBridge’s disclosed relationship map",
      "label": "TFC",
      "value": "TFC",
      "display": "TFC",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-05"
      }
    }
  ],
  "watch_next": [
    {
      "type": "demand",
      "statement": "Refined-product sales fell as Chevron cited lower gasoline demand, even while consolidated revenue rose on higher realizations and volumes.",
      "importance": "medium",
      "evidence": "Refined product sales were down 44,000 barrels per day, or 3 percent, compared to the year-ago period primarily due to lower demand for gasoline.",
      "source_date": "2026-08-06"
    },
    {
      "type": "capital_investment",
      "statement": "Affiliate capital spending was lower year over year, primarily because CPChem and TCO spent less, adding context to Chevron's cash-generation improvement.",
      "importance": "medium",
      "evidence": "Affiliate capex in the first six months of 2026 was $372 million lower than the prior year primarily due to lower spend at CPChem and TCO.",
      "source_date": "2026-08-06"
    },
    {
      "type": "demand",
      "statement": "Devon attributed higher depreciation and depletion to higher volumes from the merger and new Permian wells, creating a specific production-volume disclosure to compare.",
      "importance": "medium",
      "evidence": "DD&A increased in the first six months of 2026 primarily due to higher volumes driven by the Merger and new well activity in the Permian.",
      "source_date": "2026-08-05"
    },
    {
      "type": "commodity_prices",
      "statement": "EOG attributed the latest revenue increase to higher natural gas deliveries and a higher composite average price, keeping volume and pricing central to the current earnings change.",
      "importance": "medium",
      "evidence": "The increase was due to an increase in natural gas deliveries ($514 million) and a higher composite average price ($82 million).",
      "source_date": "2026-08-04"
    }
  ],
  "related_tickers": [
    "CVX",
    "DVN",
    "EOG",
    "FPH",
    "LB",
    "PR",
    "TFC",
    "TPL",
    "WBI"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}