About this episode

Andrew Walker and Chad Garcia discuss LandBridge's value and its role in the Permian Basin ecosystem.

In this episode of Yet Another Value Podcast, host Andrew Walker is joined by returning guest Chad Garcia to discuss LandBridge and the broader Permian Basin ecosystem. Chad outlines how land-based royalty models differ from traditional energy investments, highlighting surface rights, produced water, and infrastructure as key drivers. The conversation covers LandBridge’s growth through pore space expansion, strategic land acquisitions, and its relationship with WaterBridge. They also examine valuation differences versus peers like TPL, the role of data centers in West Texas, and why the market may be underestimating future cash flow. The episode concludes with an update on Secure Energy’s acquisition and its implications for the waste infrastructure thesis. ____________________________________________________________ [00:00:00] Introduction and Chad Garcia returns [00:04:07] LandBridge overview and investment thesis [00:05:26] History of land royalty businesses [00:08:57] TPL business model breakdown [00:13:21] LandBridge business and revenue streams [00:16:11] Valuation comparison versus TPL [00:17:21] Market skepticism and short thesis [00:20:59] Incremental pore space growth…

People in this episode

Host: Andrew Walker

Guest: Chad Garcia

Topics covered

• land-based royalty models
• energy investments
• valuation comparison
• pore space growth
• waste infrastructure

Keywords

• LandBridge
• royalty models
• energy investments
• valuation
• Permian Basin
• pore space
• data centers
• Secure Energy
• waste infrastructure

Mentioned in this episode

Organizations: LandBridge, WaterBridge, Secure Energy, TPL

Places: Permian Basin, West Texas

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