LandBridge sees FY24 adjusted EBITDA $95M-$100M

The company said, “For the full-year 2024, the Company expects Adjusted EBITDA to be between $95 million and $100 million, driven by: Higher than expected surface use royalties and revenues subsequent to increased development and higher than anticipated produced water volumes on our surface; Addition of a lease development agreement payment for the development of a data center on approximately 2,000 acres of our land in the southern Delaware Basin; Deferral of marketing a 250MW solar project into 2025 to better align with the execution of the lease development agreement in connection with the data center; Lower than anticipated resource sales and royalties; and Impact of realized commodity prices on our oil and gas royalties.”