Chadd Garcia drills into LandBridge's value
From Yet Another Value Podcast by Andrew Walker
April 26, 2026 · 1h 2m
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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