RY 173.64 -0.3672% SHOP 148.58 -0.6486% TD 82.36 -0.9263% ENB 64.21 -0.2641% BN 83.24 -1.0579% TRI 230.54 0.013% CNQ 46.58 3.4881% CP 109.8 1.4131% CNR 148.11 0.8031% BMO 143.82 0.3489% BNS 73.94 0.5029% CSU 4345.0 -1.0785% CM 90.555 -0.1158% MFC 44.31 0.113% ATD 76.82 0.0521% NGT 60.2 -0.1327% TRP 69.31 1.0939% SU 56.975 0.9658% WCN 255.98 -0.7868% L 181.13 -0.1268%
Company Overview
Landbridge Co LLC owns approximately 220,000 surface acres in and around the Delaware sub-basin within the Permian Basin, the most active region for oil and natural gas exploration in the US. This extensive landholding supports various energy development activities including oil and gas production, solar power generation, storage facilities, data centers, and non-hazardous waste management. Located strategically along the Texas-New Mexico border, in the heart of the prolific Delaware Basin, the company aims to maximize revenue and Free Cash Flow by facilitating oil and gas development and other complementary land uses, benefiting shareholders amidst a robust industrial economy supporting energy infrastructure.
Initial Public Offering
The company launched its IPO on June 28th, 2024, under the ticker LB and had sold approximately 14,500,000 shares at USD 20.50 share. We had covered this IPO in our ‘Kalkine IPO Report’ on June 21, 2024, and had concluded that this IPO was “Attractive” given it given the financial performance of the company, use of proceeds, and associated risks.
Conclusion
Investors who have invested in this IPO can consider ‘Exiting’ from their position at the current price of USD 29.00. as on July 08, 2024, given:
*The reference data in this report has been partly sourced from Refinitiv.
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