Recent Updates — LB
On October 13, 2026, LandBridge Corporation completed its previously announced conversion and redomestication from a Delaware limited liability company (LandBridge Company LLC) to a Texas corporation. The transaction became effective at 3:01 p.m. Central Time on that date. Each outstanding Class A share of the Delaware LLC converted into one share of Class A common stock, $0.001 par value, and each Class B share converted into one share of Class B common stock of the new Texas entity. Trading in the new shares commenced on October 14, 2026, under the existing ticker symbol "LB" on the NYSE and NYSE Texas. The company adopted a new certificate of formation and bylaws governing its internal affairs under Texas law. LandBridge operates as an energy infrastructure company that owns and operates crude oil pipelines.
On October 1, 2026, LandBridge Company LLC subsidiary DBR Land Holdings LLC completed a private placement of $125,000,000 in additional 6.250% Senior Notes due 2030, upsizing the offering from an initial size of $100,000,000. These New Notes are issued under the existing Indenture dated November 25, 2025, alongside previously issued Existing Notes totaling $500,000,000, and carry identical terms except for issue date and price. The company intends to use net proceeds to repay a portion of outstanding borrowings under its revolving credit facility. LandBridge Company LLC operates in the energy infrastructure sector, specifically owning and operating the Bakken Pipeline System.
On September 22, 2026, LandBridge Company LLC announced the pricing of an upsized private placement of $125 million in aggregate principal amount of 6.250% Senior Notes due 2030 by its subsidiary DBR Land Holdings LLC. The offering was increased from a previously announced size of $100 million and priced at 99.375% of par. These new notes are issued under the existing indenture dated November 25, 2025, alongside $500 million in Existing Notes, with identical terms except for the issue date and price. The transaction is expected to close on October 1, 2026, subject to customary conditions. LandBridge intends to use the net proceeds to repay a portion of outstanding borrowings under its revolving credit facility. LandBridge owns or manages more than 350,000 surface acres across Texas and New Mexico in the Permian Basin, actively managing land for energy and infrastructure development.
LandBridge Company LLC announced that its subsidiary, DBR Land Holdings LLC, intends to offer an additional $100 million in aggregate principal amount of 6.250% Senior Notes due 2030 via a private placement under Rule 144A and Regulation S. These new notes will be issued under the existing indenture dated November 25, 2025, carrying identical terms to the previously outstanding $500 million in senior notes due 2030, differing only in issue date and price. LandBridge plans to utilize the net proceeds from this offering to repay a portion of its outstanding borrowings under its revolving credit facility. The company also disclosed recent acquisitions of over 24,000 surface acres for approximately $261.2 million and ongoing efforts to convert from a Delaware limited liability company to a Texas corporation to enhance index eligibility. LandBridge owns or manages more than 350,000 surface acres across Texas and New Mexico in the Permian Basin, supporting energy and infrastructure development.
LandBridge Company LLC reported second quarter 2026 financial results for the period ended June 30, 2026. The company delivered record revenue of $66.8 million, a 41% year-over-year increase, and net income of $31.0 million, up 68% year-over-year. Adjusted EBITDA reached $59.8 million with an 89% margin. LandBridge declared a quarterly cash dividend of $0.12 per share, payable on September 10, 2026 to shareholders of record as of August 27, 2026. The Board approved the company's conversion and redomicile from Delaware to Texas. Additionally, LandBridge amended its revolving credit facility to increase lender commitments by $100 million and agreed to acquire approximately 560 acres in New Mexico for $20 million. LandBridge owns surface acreage in the Permian Basin and manages land resources for energy and digital infrastructure development.