LandBridge: My Biggest Investment Ever Is Just Getting Started

Leo Nelissen Investing Group Leader Follow Summary LandBridge is my largest holding, driven by its unique Permian Basin land portfolio and strategic positioning for data center and produced water growth. LB's latest quarter confirmed real progress: seven counterparties are in late-stage negotiations for over 10 GW of power/data center projects, with revenue expected before the end of next year. Produced water remains a robust growth engine, with sequential disposal volumes up 15% and pricing expected to reach $0.15 per barrel, supporting EBITDA growth to $360M by 2029. I maintain a Strong Buy rating and a $120–$130 near-term price target, with further upside if data center and commercial tailwinds materialize. Looking for more investing ideas like this one? Get them exclusively at Main Street Alpha. Learn More » gchapel/iStock via Getty Images A Way Too Long Introduction Pride isn 't a great quality in investing, if you ask me, but one thing I 'm proud of is that (to my best knowledge), I am the first one in the retail finance industry to cover This article was written by Leo Nelissen 51.54K Followers Follow Leo Nelissen is a macro-focused equity strategist and long-term investor with more than a decade of experience on Seeking Alpha, where he has built a following of over 50,000 readers. His work combines big-picture macro analysis, geopolitical insight, and bottom-up research to identify high-quality businesses and long-term investment opportunities. He is the founder of Main Street Alpha, a Seeking Alpha Investing Group focused on macro strategy, real portfolios, dividend investing, and disciplined capital allocation for long-term investors. Analyst’s Disclosure: I/we have a beneficial long position in the shares of LB, TPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.