Houston-based LandBridge said last week it executed a 10-year surface use and pore space reservation agreement with Devon Energy to support Devon’s operations in the core of Delaware Basin in New Mexico. LandBridge will provide Devon with 300,000 b/d of pore space capacity on its East Stateline Ranch and Speed Ranch surface acreage. The pore space reservation will commence in 2027Q2 and includes an obligation for Devon to deliver at least 175,000 b/d of produced water.
Jason Long, CEO of LandBridge, said Aug. 5, “This agreement not only secures Devon’s future water management needs in the region, but also highlights the increasing value of contiguous, underutilized pore space in and around the Delaware Basin.”