09:57 AM EST, 11/22/2024 (MT Newswires) -- LandBridge ( LB ) said Friday that it has closed the acquisition of about 5,800 largely contiguous surface acres in Lea County, New Mexico, which supports existing water infrastructure in the area.

The company said the property has the potential to drive further revenue growth through the additional water infrastructure. LandBridge ( LB ) the transaction brings its total Q4 acquisitions to about 53,080 acres.

The recent acquisitions and its agreement to acquire the Wolf Bone Ranch are expected to yield over 20% in accretion to 2025 free cash flow per common share, the company said.

The transactions are also estimated to increase adjusted EBITDA to between $170 million and $190 million, from the previous guidance range of $140 million to $160 million, assuming the Wolf Bone Ranch acquisition closes in Q4, the company said.

LandBridge ( LB ) shares were 5% higher in recent trading.

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