In this episode of Business Breakdowns, Matt Reustle interviews James Davolos from Horizon Kinetics about Waterbridge, a water infrastructure company in Texas focused on disposing of waste byproduct from oil and gas extraction. They discuss the history of Horizon Kinetics' involvement in similar businesses like Texas Pacific Land Corporation, the unique dynamics of water production in the Permian Basin, and the importance of water disposal for oil producers. The conversation covers Waterbridge's infrastructure, contracts with E&P companies, the role of FivePoint Infrastructure, and the potential for future growth and M&A in the water infrastructure space. They also touch on Landbridge, FivePoint's land company, and its opportunities in data centers and beneficial water reuse, concluding with a discussion on valuation and key investment lessons.
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