LandBridge (LB) announced it has executed a 10-year surface use and pore space reservation agreement with Devon Energy (DVN) to support Devon’s operations in the core of the New Mexico Delaware Basin. Under the agreement, LandBridge will provide Devon with 300K barrels per day of pore space capacity on its surface acreage. The reservation will commence in Q2 2027 and includes a minimum volume commitment for Devon to deliver at least 175K bpd of produced water.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LB:
- Gotham City Research says 16%-55% of LandBridge revenues ‘artificially boosted’
- LandBridge price target lowered to $66 from $80 at Barclays
- LandBridge files to sell 53.92M Class A shares for holders
- LandBridge files automatic mixed securities shelf
- LandBridge Company LLC: Unique Growth Potential and Strategic Positioning Drive Buy Rating