LandBridge secures 10-year pore space deal with Devon Energy

LandBridge Company LLC (NYSE: LB) announced a 10-year surface use and pore space reservation agreement with Devon Energy Corp. (NYSE: DVN) for operations in the New Mexico Delaware Basin.

Under the agreement, LandBridge will provide Devon with 300,000 barrels per day of pore space capacity on its East Stateline Ranch and Speed Ranch surface acreage. The pore space reservation will begin in the second quarter of 2027 and includes a minimum volume commitment requiring Devon to deliver at least 175,000 barrels per day of produced water.

The agreement supports Devon's water management operations in the core of the New Mexico Delaware Basin. LandBridge owns approximately 277,000 surface acres across Texas and New Mexico, located primarily in the Delaware sub-region of the Permian Basin.

"This agreement not only secures Devon's future water management needs in the region, but also highlights the increasing value of contiguous, underutilized pore space in and around the Delaware Basin," said Jason Long, Chief Executive Officer of LandBridge, according to the company's press release.

The information was disclosed in a company press release.

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