09:52 AM EDT, 08/06/2025 (MT Newswires) -- LandBridge ( LB ) said Wednesday it has signed a 10-year surface use and pore space reservation agreement with Devon Energy ( DVN ) .

Under the terms of the agreement, LandBridge ( LB ) said it will provide Devon with 300,000 barrels per day of pore space capacity on its East Stateline ranch and Speed ranch surface acreage in the Permian Basin.

LandBridge ( LB ) added that the pore space reservation will begin in Q2 of 2027 and includes a minimum volume commitment for Devon to deliver at least 175,000 barrels per day of produced water.

Financial terms of the agreement were not disclosed.

Shares of LandBridge ( LB ) and Devon were up 1.9% and 3.3%, respectively, in recent trading Wednesday.

Price: 59.05, Change: +1.12, Percent Change: +1.93