LandBridge (LB) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 08, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001995807
Entity Registrant Name	LandBridge Company LLC
Entity File Number	001-42150
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	93-3636146
Entity Address, Address Line One	5555 San Felipe Street
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	230-8864
Title of 12(b) Security	Class A shares, representing limited liability company interests
Trading Symbol	LB
Security Exchange Name	NYSE
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		17,425,000
Class B Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		55,726,603

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 24,646	$ 37,823
Prepaid expenses and other current assets	594	1,035
Total current assets	41,543	52,278
Non-current assets:
Property, plant and equipment, net	629,812	203,018
Intangible assets, net	28,048	28,642
Other assets	11,060	5,011
Total non-current assets	668,920	236,671
Total assets	710,463	288,949
Current liabilities:
Accrued liabilities	12,984	4,945
Current portion of long-term debt	35,148	20,339
Other current liabilities	1,535	1,163
Total current liabilities	50,359	27,100
Non-current liabilities:
Long-term debt	360,845	108,343
Other long-term liabilities	2,817	2,759
Total non-current liabilities	363,662	111,102
Total liabilities	414,021	138,202
Commitments and contingencies (Note 9)
Member's equity	296,442	150,747
Total liabilities and member's equity	710,463	288,949
Parent
Non-current liabilities:
Deemed non-cash parent contribution	(1,000)	(1,000)
Member's interest	1,000	1,000
Related Party
Current assets:
Accounts receivable, net	2,862	1,037
Current liabilities:
Accounts payable	498	453
Nonrelated Party
Current assets:
Accounts receivable, net	13,441	12,383
Current liabilities:
Accounts payable	$ 194	$ 200

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 25,953	$ 21,722	$ 44,968	$ 37,610
Resource sales-related expense	643	999	1,316	2,079
Other operating and maintenance expense	611	751	1,129	1,255
General and administrative expenses (income)	73,823	(27,459)	75,983	(15,038)
Depreciation, depletion, amortization and accretion	2,112	2,109	4,256	3,833
Operating (loss) Income	(51,236)	45,322	(37,716)	45,481
Interest expense, net	6,280	562	9,164	1,280
Other income	0	0	(241)	(15)
Income (loss) from operations before taxes	(57,516)	44,760	(46,639)	44,216
Income tax expense	137	96	238	199
Net (loss) income	(57,653)	44,664	(46,877)	44,017
Oil and Gas Royalties [Member]
Revenues:
Total revenues	4,475	5,034	8,660	8,626
Resource Sales [Member] | Related Party [Member]
Revenues:
Total revenues	179	404	272	1,488
Resource Sales [Member] | Nonrelated Party
Revenues:
Total revenues	3,618	6,401	7,034	11,717
Easements and Other Surface Related Revenues [Member] | Related Party [Member]
Revenues:
Total revenues	2,376	3,274	2,759	3,857
Easements and Other Surface Related Revenues [Member] | Nonrelated Party
Revenues:
Total revenues	5,088	1,881	9,842	3,353
Surface Use Royalties [Member] | Related Party [Member]
Revenues:
Total revenues	3,667	895	6,275	1,774
Surface Use Royalties [Member] | Nonrelated Party
Revenues:
Total revenues	3,304	2,232	4,902	3,624
Resource Royalties [Member] | Related Party [Member]
Revenues:
Total revenues	1,107		1,107
Resource Royalties [Member] | Nonrelated Party
Revenues:
Total revenues	$ 2,139	$ 1,601	$ 4,117	$ 3,171

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Member's Equity $ in Thousands	USD ($)
Beginning Balance at Dec. 31, 2022	$ 209,959
Distribution to member	(13,000)
Deemed non-cash capital contributions	11,235
Net Income (Loss)	(647)
Ending Balance at Mar. 31, 2023	207,547
Beginning Balance at Dec. 31, 2022	209,959
Net Income (Loss)	44,017
Ending Balance at Jun. 30, 2023	213,486
Beginning Balance at Mar. 31, 2023	207,547
Distribution to member	(10,000)
Deemed non-cash capital distributions	(28,725)
Net Income (Loss)	44,664
Ending Balance at Jun. 30, 2023	213,486
Beginning Balance at Dec. 31, 2023	150,747
Deemed non-cash capital contributions	810
Net Income (Loss)	10,776
Ending Balance at Mar. 31, 2024	162,333
Beginning Balance at Dec. 31, 2023	150,747
Net Income (Loss)	(46,877)
Ending Balance at Jun. 30, 2024	296,442
Beginning Balance at Mar. 31, 2024	162,333
Contribution from member	120,000
Deemed non-cash capital contributions	71,762
Net Income (Loss)	(57,653)
Ending Balance at Jun. 30, 2024	$ 296,442

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net (loss) income	$ (46,877)	$ 44,017
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	4,256	3,833
Amortization of deferred financing fees	204
Amortization of deferred financing fees	519
Share-based compensation	72,572	(17,501)
Other		(18)
Changes in operating assets and liabilities:
Accounts receivable	136	(4,697)
Related party receivable	(1,825)	14
Prepaid expenses and other assets	482	(292)
Accounts payable	(6)	629
Related party payable	33	(175)
Other current liabilities	3,764	(1,460)
Net cash provided by operating activities	33,258	24,350
Cash flows from investing activities
Acquisitions	(430,510)
Capital expenditures	(458)	(2,400)
Proceeds from disposal of assets		11
Net cash used in investing activities	(430,968)	(2,389)
Cash flows from financing activities
Contributions from member	120,000
Distributions to member		(23,000)
Proceeds from term loan	265,000
Proceeds from revolver	15,000
Repayments on term loan	(10,000)	(8,250)
Debt issuance costs	(3,404)
Deferred offering costs	(1,831)
Other financing activities, net	(232)	(78)
Net cash provided by (used in) financing activities	384,533	(31,328)
Net decrease in cash and cash equivalents	(13,177)	(9,367)
Cash and cash equivalents and restricted cash - beginning of period	37,823	25,351
Cash and cash equivalents - end of period	$ 24,646	$ 15,984

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (57,653)	$ 10,776	$ 44,664	$ (647)	$ (46,877)	$ 44,017

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2024
Organization and Nature of Operations	1. Organization and Nature of Operations DBR Land Holdings LLC (“Holdings” and, together with its subsidiaries, the “Company,” “we,” “our” and “us”) was formed in September 2021. WaterBridge NDB LLC (“NDB LLC”) is the sole member of the Company. The Company is governed by a Limited Liability Company Agreement, dated September 20, 2021 (the “LLC Agreement”). On October 15, 2021, the Company acquired 100 % of the outstanding capital stock of Hanging H Ranch, Inc. Immediately following the acquisition, Hanging H Ranch, Inc. merged with one of its wholly-owned subsidiaries and the surviving entity was named Delaware Basin Ranches Inc. (“DBR Inc.”). On January 1, 2022, DBR REIT LLC (“DBR REIT”), a wholly-owned subsidiary of the Company and the parent company of DBR Inc., elected to be taxed as a real estate investment trust (“REIT”) under federal income tax laws. DBR REIT qualifies as a REIT under the applicable requirements of the Internal Revenue Code of 1986, as amended (“IRC”). A REIT is a pass-through entity. There is no tax imposed at the REIT level as long as the REIT complies with the applicable tax rules and avails itself of the opportunity to reduce its taxable income through distributions. A REIT must comply with a number of organizational and operational requirements, including a requirement that it must pay at least 90% of its taxable income to its stockholders. The Company, through its subsidiaries, owns surface acreage in the Delaware Basin across Andrews, Loving, Reeves, Pecos and Winkler Counties in Texas and Eddy and Lea Counties in New Mexico and owns crude oil and natural gas mineral interests in the Delaware Basin across Loving and Reeves Counties, Texas. The Company generates revenues primarily from use of its surface acreage, the sale of resources from its land and oil and natural gas royalties. The use of surface acreage generally includes easements or leases and various surface use royalties. Sale of resources generally includes sales of brackish water and other surface composite materials. Our assets consist mainly of fee surface acreage, oil and natural gas mineral interest, brackish water wells and ponds and related facilities. The Company is headquartered in Houston, Texas.
LandBridge Company LLC
Organization and Nature of Operations	Organization LandBridge Company LLC (the “Company,” “LandBridge,” “we,” “our” and “us”) was formed on September 27, 2023 as a Delaware limited liability company. WaterBridge NDB LLC (“NDB LLC”) is the sole member of the Company. The Company is governed by a Limited Liability Company Agreement, dated September 27, 2023 (the “LLC Agreement”). On July 1, 2024, immediately prior to the Offering (as defined below), NDB LLC was divided into two Delaware limited liabilities in accordance with a plan of division: (i) NDB LLC and (ii) LandBridge Holdings LLC (“LandBridge Holdings”), a new Delaware limited liability company created by, and resulting from, the division (collectively, the “Division”). As a result of the Division, LandBridge Holdings became the sole member of the Company and entered into an Amended & Restated Limited Liability Company Agreement, dated July 1, 2024 (the “A&R LLC Agreement”) in connection with the Offering. On July 1, 2024, immediately following the Division, the Company closed the offering of 14,500,000 Class A shares representing limited liability company interests (“Class A shares”) at a price to the public of $ 17.00 per share (the “Offering”). In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 2,175,000 Class A shares at the public offering price, which the underwriters’ exercised in full on July 1, 2024. In addition to the Class A shares sold in the Offering, on July 1, 2024, LandBridge sold 750,000 Class A shares at a price of $ 17.00 per Class A share in a concurrent private placement to an accredited investor (the “concurrent private placement”). See Note 5 – Subsequent Events for additional information related to the Offering and concurrent private placement. The Company is a holding company and its principal asset is membership interests in OpCo. As the managing member of OpCo, the Company operates and controls all of the business and affairs of OpCo, and through OpCo and its subsidiaries, conducts its business. As a result, beginning in the third quarter of 2024, the Company will consolidate the financial results of OpCo and report noncontrolling interest related to the portion of OpCo Units not owned by the Company, which will reduce net income attributable to the Company’s Class A shareholders. The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act provides that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of this extended transition period, and as a result, we will comply with new or revised accounting standards on the relevant dates on which adoption is required for private companies. We would cease to be an emerging growth company if we have more than $1.235 billion in annual revenues, or more than $700.0 million in market value of our common shares held by non-affiliates or issue more than $1.0 billion of non-convertible debt securities over a three-year period.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies [Line Items]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements (the “Financial Statements”) of the Company have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflects all adjustments, consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's annual audited financial statements and accompanying notes for the year ended December 31, 2023, included within the Company’s final prospectus filed with the SEC on June 28, 2024 (the “Prospectus”), pursuant to Rule 424(b) under the Securities Act. All dollar amounts in the Financial Statements and tables in the notes are stated in thousands of dollars unless otherwise indicated. Results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2024. All of the Company’s subsidiaries are wholly owned, either directly or indirectly through wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. There were no variable interest entities for any periods presented herein. Basic and diluted net income per common unit holder is not presented since the ownership structure of the Company is not a common unit of ownership. Use of Estimates The preparation of the Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes. The Company evaluates its estimates and related assumptions regularly, including those related to the fair value measurements of assets acquired and liabilities assumed in a business combination, the collectability of accounts receivable, the assessment of recoverability and useful lives of long-lived assets, including property, plant and equipment, intangible assets, and the valuation of share-based compensation. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from such estimates. Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Whenever available, fair value is based on or derived from observable market prices or parameters. When observable market prices or inputs are not available, unobservable prices or inputs are used to estimate the fair value. The three levels of the fair value measurement hierarchy are as follows: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs that are not corroborated by market data. The Company’s financial instruments consist primarily of accounts receivable and accounts payable. The carrying value of the Company’s accounts receivable and accounts payable approximate fair value due to their highly liquid nature or short-term maturity. The Company adjusts the carrying amount of certain non-financial assets, property, plant and equipment and definite-lived intangible assets, to fair value on a non-recurring basis when they are impaired. The fair value of debt is the estimated amount the Company would have to pay to transfer its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at the balance sheet date. Refer to Note 6 – Debt for additional information. Recurring fair value measurements are performed for management incentive units, as disclosed in Note 7 – Share-Based Compensation. During the six months ended June 30, 2024 and 2023 , there were no transfers between the fair value hierarchy levels. Intangible Assets Our intangible assets with definite useful lives include water rights and surface use agreements. The amounts are presented at the Company’s cost basis. Such intangible assets with definite lives are amortized on a straight-line basis and assume no residual value. On March 18, 2024, the Company acquired a surface use agreement as part of an acquisition of land in Lea County, New Mexico. The purchase consideration attributable to the surface use agreement was approximately $ 0.5 million , which will be amortized over a term of 30 years. Refer to Note 3 - Asset Acquisitions for further information regarding the transaction. Deferred Offering Costs Deferred offering costs consist of Offering costs, related to underwriting, legal, accounting, and other expenses incurred through the balance sheet date that are directly related to the Offering. These costs will be offset against proceeds in the periods following the consummation of the Offering. As of June 30, 2024 and December 31, 2023, the Company had $ 9.6 million and $ 3.7 million of deferred offering costs included in other assets on the condensed consolidated balance sheets, respectively, of which $ 6.0 million and $ 2.0 million were accrued as of the periods presented. Asset Acquisitions We record asset acquisitions using the cost accumulation model. Under the cost accumulation model of accounting, the cost of the acquisition, including certain transaction costs, are allocated to the assets acquired using relative fair values. Share-Based Compensation The Company accounts for share-based compensation expense for incentive units granted in exchange for employee services. Our management and employees currently participate in an equity-based incentive unit plan, managed by NDB LLC, the direct parent of the Company. The management incentive units consist of time-based awards of profits interests in NDB LLC (the “Incentive Units”), and the Amended and Restated Limited Liability Company Agreement of NDB LLC (the “NDB LLC Agreement”) authorizes the issuance of 10,000 Incentive Units. On June 27, 2024, the Board of Managers of NDB LLC increased the total units authorized from 10,000 to 15,000 Incentive Units. The Incentive Units represent a substantive class of equity of NDB LLC and are accounted for under Financial Accounting Standards Board (“FASB”) ASC Topic 718, Compensation – Stock Compensation (“ASC 718”). Features of the Incentive Units include the ability for NDB LLC to repurchase Incentive Units during a 180-day option period, whereby the fair value price is determined as of the termination date, not the repurchase date, which temporarily takes away the rights and risks and rewards of ownership from the Incentive Unit holder during the option period. Under ASC 718, a feature for which the employee could bear the risks, but not gain the rewards, normally associated with equity ownership requires liability classification. NDB LLC classifies the Incentive Units as liability awards. The liability related to the Incentive Units is recognized at NDB LLC as the entity responsible for satisfying the obligation. Share-based compensation income or expense pushed down to the Company is recognized as a deemed non-cash contribution to or distribution from member’s equity on the condensed consolidated balance sheets. The share-based compensation income or expense is recognized consistent with NDB LLC’s classification of a liability award resulting in the initial measurement, and subsequent remeasurements, recognized ratably over the vesting period. Value within each Incentive Unit pool is allocated among Incentive Unit holders via a distribution waterfall. The Incentive Units with the lowest threshold value within the pool will be allocated value first. Once the value of the Incentive Units with the lowest threshold value reaches the next lowest threshold value, the lowest threshold value Incentive Units will cease earning value. The next lowest threshold value Incentive Units then receive value until its value is equal to its own threshold value (the “Catch-Up Mechanics”). At this point, both the lowest and second lowest threshold value Incentive Units have a value equal to the second lowest threshold value. Both groups of Incentive Units continue to earn value until this value is equal to the third lowest threshold value, when the Catch-Up Mechanics are applied. When all Incentive Units have earned value up to the highest threshold value, all Incentive Units will earn value pro rata based on the total number of units issued thereafter. At each reporting period, NDB LLC’s Incentive Units are remeasured at their fair value, consistent with liability award accounting, using a Monte Carlo Simulation. The Monte Carlo Simulation requires judgment in developing assumptions, which involve numerous variables. These variables include, but are not limited to, the expected unit price volatility over the term of the awards, the expected distribution yield and the expected life of Incentive Unit vesting. The vested portion of NDB LLC’s Incentive Unit liability is allocated pro rata to the Company, and other NDB LLC operating subsidiaries, as share-based compensation income or expense on the consolidated statements of operations. The allocation is based on the Company’s share of the aggregate equity value derived in NDB LLC’s business enterprise valuation. The Company updates its assumptions each reporting period based on new developments and adjusts such amounts to fair value based on revised assumptions, if applicable, over the vesting period. For the six months ended June 30, 2024 and 2023, the fair values of the Incentive Units were estimated using various assumptions as discussed in Note 7 – Share-Based Compensation. The fair value measurement is based on significant inputs not observable in the market, and thus represents Level 3 inputs within the fair value hierarchy. The risk-free rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of each award and updated at each balance sheet date for the time period approximating the expected term of such award. The expected distribution yield is based on no previously paid distributions and no intention of paying distributions on the Incentive Units for the foreseeable future. Due to the Company not having sufficient historical volatility, the Company uses the historical volatilities of publicly traded companies that are similar to the Company in size, stage of life cycle and financial leverage. The Company will continue to use this peer group of companies unless a situation arises within the group that would require evaluation of which publicly traded companies are included or once sufficient data is available to use the Company’s own historical volatility. For criteria dependent upon a change in control, the Company will not recognize any incremental expense until the event occurs. Differences between actual results and such estimates could have a material effect on the Financial Statements. See Note 10 - Subsequent Events - Management Incentive Units for additional information related to the change in accounting related to Incentive Unit expense recognition. Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280). This guidance requires a public entity, including entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. We plan to adopt this guidance and conform with the applicable disclosures retrospectively when it becomes mandatorily effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). This guidance further enhances income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. We plan to adopt this guidance and conform with the disclosure requirements when it becomes mandatorily effective for annual periods beginning after December 15, 2024 .
Parent
Significant Accounting Policies [Line Items]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited financial statements (the “Financial Statements”) of the Company have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflects all adjustments, consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's annual audited financial statements and accompanying notes for the year ended December 31, 2023, included within the Company’s final prospectus filed with the SEC on June 28, 2024 (the “Prospectus”), pursuant to Rule 424(b) under the Securities Act. Separate Statements of Operations, Changes in Member’s Equity and Cash Flows have not been presented because we have not had any business transactions or activities since inception as of September 27, 2023 through June 30, 2024 , except for our initial capitalization. In this regard, we have determined that general and administrative costs associated with the formation and daily management of the Company are insignificant. All dollar amounts in the balance sheets and in the notes are stated in dollars unless otherwise indicated. Income taxes The Company has elected to be treated as a corporation for U.S. federal income tax purposes and is subject to U.S. federal and state income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts and income tax basis of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards, using enacted tax rates in effect for the taxing jurisdiction in which we operate for the year in which those temporary differences are expected to be recovered or settled. As of June 30, 2024 and December 31, 2023, there are no income tax related balances reflected in our balance sheets.

Asset Acquisition

Asset Acquisition	6 Months Ended
	Jun. 30, 2024
Asset Acquisition [Abstract]
Asset Acquisition	3. Asset Acquisition On March 18, 2024, the Company acquired approximately 11,000 acres of land in Lea County, New Mexico for total purchase consideration of $ 26.4 million , inclusive of $ 0.3 million in transaction costs. The purchase consideration was attributed to land value of $ 25.9 million and intangible asset value of $ 0.5 million . On May 10, 2024, the Company acquired approximately 103,000 fee surface acres in the Loving and Winkler Counties, Texas, and Lea County, New Mexico from a private third-party seller, for total purchase consideration of $ 362.2 million , inclusive of $ 1.7 million of transaction costs. The purchase consideration was attributed to land value of $ 361.5 million and other assets of $ 0.7 million . On May 10, 2024 the Company acquired approximately 34,000 fee surface acres in Lea County, New Mexico and Andrews County, Texas from the same private third-party seller, for total purchase consideration of $ 42.2 million , inclusive of $ 0.3 million of transactions costs. The purchase consideration was all attributed to land value.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment As of June 30, 2024 and December 31, 2023, property, plant and equipment, net of accumulated depreciation consisted of the following: June 30, December 31, 2024 2023 Oil and natural gas properties Proved $ 36,054 $ 36,054 Unproved 3,057 3,057 Total oil and natural gas properties 39,111 39,111 Land and land improvements 585,485 157,737 Water wells, pipelines, facilities, ponds and related equipment 15,574 15,132 Buildings, vehicles, equipment, furniture and other 3,498 2,594 Construction in progress 774 - 644,442 214,574 Less: accumulated depreciation and depletion ( 14,630 ) ( 11,556 ) Total property, plant and equipment, net $ 629,812 $ 203,018 Depreciation and depletion expense was $ 1.5 million for both the three months ended June 30, 2024 and 2023. Depreciation and depletion expense was $ 3.1 million and $ 2.7 million for the six months ended June 30, 2024 and 2023 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes DBR REIT made an election to be taxed as a REIT, effective January 1, 2022. As a REIT, DBR REIT generally will not be subject to U.S. federal income tax to the extent it distributes qualifying dividends to its stockholders. If DBR REIT fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service (“IRS”) grants DBR REIT relief under certain statutory provisions. The Company is only subject to Texas margin taxes. The Company estimates its state tax liability utilizing management estimates related to the deductibility of certain expenses and other factors. The Company recorded $ 0.2 million and $ 0.4 million related to its Texas margin tax liability as of June 30, 2024 and December 31, 2023 , respectively, which is included within other current liabilities on the condensed consolidated balance sheets.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	6. Debt As of June 30, 2024 and December 31, 2023, our debt consisted of the following: June 30, December 31, 2024 2023 Term loan $ 350,000 $ 95,000 Revolving credit facility 50,000 35,000 Other 262 494 Total debt 400,262 130,494 Current portion of long-term debt ( 35,148 ) ( 20,339 ) Unamortized debt issuance costs ( 4,269 ) ( 1,812 ) Total long-term debt $ 360,845 $ 108,343 Credit Facilities On July 3, 2023, the Company entered into a four-year credit agreement providing for (i) a $ 100.0 million term loan (as amended and as described herein, the “Term Loan”), and (ii) a $ 50.0 million revolving credit facility (as amended and as described herein, the “Revolving Credit Facility” and, together with the Term Loan, the “Credit Facilities”). Upon the closing of the Credit Facilities, the Ag Loan was terminated. On May 10, 2024, the Company entered into a credit agreement amendment (the “Amendment”), which amended the Credit Facilities to increase the principal amount of the Term Loan to $ 350.0 million and increase the available capacity of the Revolving Credit Facility to $ 75.0 million . Following the Amendment, the Company borrowed approximately $ 265.0 million under the Term Loan to fund a portion of the purchase price of certain acquisitions permitted by the credit agreement. Immediately following the Offering, we plan to use approximately $ 100.0 million of the net proceeds to repay outstanding borrowings under our Credit Facilities. See Note 10 – Subsequent Events for additional information related to the Offering. We may elect for outstanding borrowings under our Credit Facilities to accrue interest at a rate based on either (i) a forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) plus 0.10 %, or (ii) the base rate, in each case plus an applicable margin. Borrowings under our Credit Facilities accrue interest based on a five-tiered pricing grid tied to our current leverage ratio. The applicable margin ranges from 2.75 % to 3.75 % in the case of Term SOFR loans and letter of credit fees, and 1.75 % to 2.75 % in the case of base rate loans, and commitment fees range from 0.375 % to 0.50 %. Interest on all outstanding SOFR loans shall be payable on the last day of each interest period, which may be, at the Company’s election, 1-month, 3-months, or 6-months. Interest on all outstanding base rate loans shall be payable on the first day of each calendar quarter. Our Credit Facilities is secured by a first priority security interest in substantially all of our assets and the assets of our restricted subsidiaries, which are party to our credit facility as guarantors. Subject to certain exceptions and materiality qualifiers, our Credit Facilities include certain customary affirmative and negative covenants, which, among other things, restrict our ability and our restricted subsidiaries’ ability, subject to certain exceptions, to incur debt, grant liens, make restricted payments and investments, issue equity, sell or lease assets, dissolve or merge with another entity, enter into transactions with affiliates or restrictive agreements, change our business, prepay debt and amend our organizational and material agreements. Our Credit Facilities allow us to make cash dividends to our shareholders so long as (i) no default or event of default exists or would result therefrom, (ii) the pro forma leverage ratio is less than 3.25 :1.00 and (iii) pro forma liquidity is at least $ 10 million. In addition, we are required to comply the following financial maintenance covenants: (i) a maximum leverage ratio as of the last day of each fiscal quarter of no greater than 3.50 :1.00 for the period of four consecutive fiscal quarters ending prior to the consummation of the Offering, or 4.00 :1.00 for the period of four consecutive fiscal quarters ending on or after the date of the closing of the Offering (subject, in either case, to a 0.50 :1.00 leverage step-up for any “qualified acquisition” for the fiscal quarter in which such “qualified acquisition” occurs and the immediately following two fiscal quarters, at the Company’s election, subject to a cap of 0:50 :1.00 on such step-up regardless of the total number of “permitted acquisitions” and certain other limitations set forth therein), subject to an additional step up of 0.25 for the second quarter of 2024 in connection with consummation of the East Stateline Acquisition, the fiscal quarter in which the “qualified acquisition” occurs if such “qualified acquisition” is consummated on or about the effective date of the Credit Facility Amendment; (ii) a minimum interest coverage ratio of at least 2.75 to 1.00 as of the last day of each fiscal quarter ending on or after the date of the closing of the Offering; and (iii) a minimum debt service coverage ratio of at least 1.25 to 1.00 as of the last day of each fiscal quarter ending prior to the date on which the Offering is consummated. Our Credit Facilities contain customary events of default, including for our failure and the failure of other loan parties to comply with the various financial, negative and affirmative covenants under our credit facility (subject to the cure provisions set forth therein). During the existence of an event of default (as defined under our credit agreement), the agent, with the consent of or at the direction of the requisite lenders thereunder, has a right to, among other available remedies, terminate the commitments and/or declare all outstanding loans and accrued interest and fees under our credit facility to be immediately due and payable. The Company was in compliance with these covenants as of June 30, 2024 . The principal outstanding amount of the Credit Facilities approximates the estimated fair value because the interest rates applicable to such amounts are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty. Term Loan The Term Loan is subject to quarterly principal amortization payments that are payable on the first day of each quarter. Any principal amounts outstanding on the maturity date, July 3, 2027, become due and payable on such date. Debt issuance costs associated with the Term Loan consist of fees incurred to secure the financing and are amortized over the life of the loan using the effective interest method. The amortization of these costs totaled $ 0.4 million and $ 0.5 million for the three and six months ended June 30, 2024, which are included in interest expense, net in the condensed consolidated statements of operations. Net debt issuance costs of $ 4.3 million and $ 1.8 million associated with the Term Loan as of June 30, 2024 and December 31, 2023, respectively, are reported as a direct deduction from the carrying amount of the related long-term debt. For the three and six months ended June 30, 2024, the Company incurred $ 5.0 million and $ 6.9 million , respectively, of interest expense related to the Term Loan and the related weighted average interest rate was 8.42 % and 8.43 % , respectively . There was no related interest expense incurred for the three and six months ended June 30, 2023, as the Term Loan was entered into on July 3, 2023.The accrued interest payable related to the Term Loan was $ 4.2 million and $ 1.2 million as of June 30, 2024 and December 31, 2023, respectively. Revolving Credit Facility The Revolving Credit Facility provides for incremental borrowings up to the revolving commitment of $ 75.0 million . It also includes an incremental revolving commitment that permits the Company to increase the aggregate amount of the Revolving Credit Facility, subject to the applicable lenders’ willingness to participate and other customary terms and conditions, by an amount not to exceed the sum of (i) $ 50.0 million plus (ii) the amount of any prior principal repayments of the Term Loan Facility following closing of the Amendment (up to $ 50.0 million ). The Revolving Credit Facility provides availability for the issuance of letters of credit on the Company’s behalf in an aggregate amount not to exceed $ 5.0 million . Principal amounts borrowed under the Revolving Credit Facility may be repaid from time to time without penalty. Any principal amounts outstanding on the maturity date, July 3, 2027 , become due and payable on such date. The Company also pays a commitment fee to each lender quarterly in arrears on the daily average unused amount of the revolving credit commitment of such lender under the Revolving Credit Facility. For the three and six months ended June 30, 2024, the Company paid an immaterial amount in commitment fees. Debt issuance costs associated with the Revolving Credit Facility consist of fees incurred to secure the financing and are amortized over the life of the loan using the effective interest method. The amortization of these costs totaled $ 0.1 million and $ 0.2 million for the three and six months ended June 30, 2024, which is included in interest expense, net in the condensed consolidated statements of operations. Short-term debt issuance costs of $ 0.4 million and $ 0.3 million associated with the Revolving Credit Facility as of June 30, 2024 and December 31, 2023, respectively, are deferred and presented in prepaid expenses and other current assets on the condensed consolidated balance sheets. Long-term debt issuance costs of $ 0.8 million and $ 0.6 million associated with the Revolving Credit Facility as of June 30, 2024 and December 31, 2023, respectively, are deferred and presented in other assets on the condensed consolidated balance sheets. For the three and six months ended June 30, 2024, the Company incurred $ 1.1 million and $ 1.9 million , respectively, of interest expense related to the Revolving Credit Facility and the related weighted average interest rate was 8.41 % and 8.43 % , respectively. T here was no related interest expense incurred for the three and six months ended June 30, 2023, as the Revolving Credit Facility was entered into on July 3, 2023. The accrued interest payable related to the Revolving Credit Facility was $ 0.6 million and $ 0.3 million as of June 30, 2024 and December 31, 2023, respectively. Ag Loan On October 14, 2021, the Company entered into a seven-year $ 65.0 million credit agreement (the “Ag Loan”) with Capital Farm Credit, ACA, as agent for a federal land credit association. The Ag Loan was secured by a perfected first-lien security interest in substantially all assets of DBR Inc. (as successor to Hanging H Ranch, Inc.) and its subsidiaries and DBR Desert LLC, the equity interest in DBR REIT LLC held by DBR Land LLC, and the equity interest in DBR Inc. held by DBR REIT LLC. The Ag Loan was also guaranteed by DBR REIT LLC, DBR Land LLC and DBR Desert LLC. The Ag Loan included certain affirmative and restrictive covenants common in such agreements that apply to the Company and the guarantors, including a minimum fixed charge coverage ratio of 1.25 :1.00 and a maximum debt to tangible net worth ratio of 0.45 :1:00, in each case tested as of the end of each fiscal quarter. The Company was required to make scheduled monthly payments on the outstanding principal amount for the term of the Ag Loan at an annual interest rate of 5.25 % , with all remaining outstanding amounts due and payable on the scheduled maturity date, October 1, 2028 . The Ag Loan was terminated on July 3, 2023 in connection with the closing of the Credit Facilities. For the three and six months ended June 30, 2023, the Company incurred $ 0.7 million and $ 1.4 million , respectively, of interest expense related to the Ag Loan. The related weighted average interest rate was 5.25 % for the three and six months ended June 30, 2023 .

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	7. Share-Based Compensation The Company accounts for share-based compensation expense for Incentive Units granted in exchange for employee services. Our management and employees currently participate in one equity-based incentive unit plan, managed by NDB LLC. The management incentive units consist of time-based awards of profits interest in NDB LLC (the “Incentive Units”), and the NDB LLC Agreement authorizes the issuance of 10,000 Incentive Units. On June 27, 2024, the Board of Managers of NDB LLC increased the total units authorized from 10,000 to 15,000 Incentive Units. The weighted average fair value of the Incentive Units is estimated and remeasured using a Monte Carlo Simulation with the following inputs as of June 30: 2024 2023 Estimated equity value $ 1,541,210 $ 729,798 Expected life (in years) 1.7 1.0 Risk-free interest rate 4.7 % 5.3 % Dividend yield 0 % 0 % Volatility 40.0 % 25.0 % Marketability discount 18.0 % - 19.0 % 19.0 % The number of Incentive Units granted and forfeited during the six months ended June 30, 2024 and 2023 is shown in the following table: 2024 2023 Outstanding at beginning of period 9,992 5,378 Granted - - Forfeited ( 54 ) ( 33 ) Outstanding at end of period 9,938 5,345 As of June 30, 2024 and 2023, the aggregate fair value of the Incentive Units attributable to the Company was $ 137.3 million ( $ 13,948 - $ 13,662 per unit) and $ 22.7 million ( $ 4,240 per unit), respectively. Changes in the fair value of the Incentive Units as of June 30, 2024 and 2023 were as follows: 2024 2023 Balance at beginning of period $ 35,873 $ 46,827 Remeasurements 101,428 ( 24,164 ) Balance at end of period $ 137,301 $ 22,663 The cumulative vested value of the Incentive Units allocated to the Company was $ 95.5 million as of June 30, 2024. For the three months ended June 30, 2024 and 2023, the Company recognized expense of $ 71.8 million and income of $ 28.7 million in share-based compensation, respectively, on the statements of operations. For the six months ended June 30, 2024 and 2023, the Company recognized expense of $ 72.6 million and income of $ 17.5 million in share-based compensation, respectively, on the statements of operations. As of June 30, 2024, the remaining unrecognized compensation expense for the Incentive Units was $ 41.8 million and the weighted average remaining vesting period was approximately 2.0 years. There were no departures resulting in accelerated vesting during the three and six months ended June 30, 2024 or 2023 .

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Three Months Ended June 30, Six Months Ended June 30, Financial Statements Location 2024 2023 2024 2023 Revenues - Related Party Affiliate access agreements Resource sales $ 179 $ 404 $ 272 $ 1,488 Affiliate access agreements Easements and other surface-related revenues $ 2,376 $ 3,274 $ 2,759 $ 3,857 Affiliate access agreements Surface use royalties $ 3,667 $ 895 $ 6,275 $ 1,774 Affiliate access agreements Resource royalties $ 1,107 $ - $ 1,107 $ - Financial Statements Location June 30, 2024 December 31, 2023 Accounts Receivable - Related Party Affiliate access agreements Related party receivable $ 2,862 $ 1,037 Accounts Payable - Related Party Shared services agreement Related party payable $ 498 $ 453 Shared Services Agreement The Company has a services agreement with certain affiliates consisting of NDB, WaterBridge Holdings LLC and its subsidiaries, WaterBridge NDB Operating LLC and its subsidiaries, and Desert Environmental LLC and its subsidiaries, pursuant to which it receives common management and general, administrative, overhead, and operating services in support of the Company’s operations and development activities. The Company is required to reimburse all fees incurred by it that are necessary to perform services under the agreement. For shared services, the basis of allocation is an approximation of time spent on activities supporting the Company. For shared costs paid on behalf the Company, the costs are directly allocated to it based on its pro rata share of the expenses. For the three months ended June 30, 2024 and 2023, the Company paid approximately $ 1.0 million and $ 1.1 million for the shared services and direct cost reimbursements, respectively. For the six months ended June 30, 2024 and 2023, the Company paid approximately $ 2.1 million and $ 2.9 million for the shared services and direct cost reimbursements, respectively. Affiliate Facility Access Agreements The Company is party to facility access and surface use agreements, including easements and rights-of-way, with certain affiliates. Under these agreements, the Company has granted the affiliates certain rights to construct, operate and maintain produced water, brackish water and waste reclamation facilities on our land in the ordinary course of business. These agreements include a standard fee schedule and provision for specified surface use activities. The agreements also include a provision for royalties related to certain specified activities. Equity Sponsor Services Agreement Five Point invoices the Company, and the Company reimburses Five Point in cash, for expenses associated with the Company’s use of Five Point’s geographic information system (“GIS”) and certain legal services provided by Five Point. The reimbursement includes allocated Five Point personnel costs and third-party software and hardware expenses and is determined based on the Company’s use of Five Point’s total services for such period. For the three months ended June 30, 2024 and 2023, the GIS and legal services reimbursements paid were $ 0.1 million and an immaterial amount, respectively. For the six months ended June 30, 2024 and 2023, the GIS and legal services reimbursements paid were $ 0.2 million and $ 0.1 million , respectively. As of June 30, 2024 and December 31, 2023 , the Company had an immaterial amount due to these entities.

Member's Equity

Member's Equity	6 Months Ended
	Jun. 30, 2024
Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Member's Equity	3. Member’s Equity As provided for in the LLC Agreement, NDB LLC held 100 % of the limited liability company interests of the Company as of June 30, 2024. The Company’s limited liability company interests were generally consistent with ordinary equity ownership interests. The Company was capitalized with a deemed non-cash contribution of $ 1,000 from NDB LLC on September 27, 2023. Distributions (including liquidating distributions) are to be made to the sole member at a time to be determined by the board of managers. There are no restrictions on distributions. The sole member’s equity account will be adjusted for distributions paid to, and additional capital contributions that are made by the sole member. All revenues, costs and expenses of the Company are allocated to the sole member in accordance with the LLC Agreement. Under the A&R LLC Agreement, the Company is authorized to issue an unlimited number of additional limited liability company interests of any type without the approval of our shareholders, subject to the rules of the New York Stock Exchange. The Company has two classes of authorized equity securities outstanding: Class A shares and Class B shares representing limited liability company interests (“Class B shares” and, together with Class A shares, “common shares”). Our Class B shares have no economic rights but entitle holders to one vote per Class B share on all matters to be voted on by shareholders generally. Holders of Class A shares and Class B shares will vote together as a single class on all matters presented to our shareholders for their vote or approval, except as otherwise required by applicable law or by the A&R LLC Agreement. Only the Class A shares will have economic rights and entitle holders to participate in any dividends our board of directors may declare. Following the Offering, including the underwriters’ option, and the concurrent private placement, the Company has the following outstanding common shares: • 17,425,000 shares of Class A shares, and • 55,726,603 shares of Class B shares

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Loss Contingencies [Line Items]
Commitments and Contingencies	9. Commitments and Contingencies Subordination payments In connection with the October 2021 business acquisition of Hanging H Ranch, Inc., the Company agreed to pay one of the sellers $ 5.0 million as additional consideration over the next ten years on each anniversary of closing, beginning on October 14, 2022, and in exchange for the additional consideration, such seller agreed to subordinate its rights under a grazing lease to the rights of the lender under the Ag Loan. In conjunction with the retirement of the Ag Loan, the seller’s rights under the grazing lease are no longer subordinated. As of both June 30, 2024 and December 31, 2023, $ 0.5 million was reflected within other current liabilities on the condensed consolidated balance sheets. As of June 30, 2024 and December 31, 2023, $ 2.6 million was reflected within other long-term liabilities on the condensed consolidated balance sheets for both periods. These amounts represent the present value of the total $ 5.0 million in additional consideration. Litigation The Company records liabilities related to litigation and other legal proceedings when they are either known or considered probable and can be reasonably estimated. Legal proceedings are inherently unpredictable and subject to significant uncertainties, and significant judgment is required to determine both probability and the estimated amount. As a result of these uncertainties, any liabilities recorded are based on the best information available at the time. As any new information becomes available, the Company reassesses the potential liability related to pending litigation. As of June 30, 2024 and December 31, 2023 , the Company recorded an immaterial amount in liabilities related to any legal matters.
LandBridge Company LLC
Loss Contingencies [Line Items]
Commitments and Contingencies	4. Commitments and Contingencies In the ordinary course of business, the Company may be subject to various legal, regulatory and/or other administrative proceedings. There are currently no such proceedings to which the Company is a party.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Event [Line Items]
Subsequent Events	10. Subsequent Events The Company has evaluated subsequent events from the date of the balance sheet through August 8, 2024, the date the Financial Statements were available to be issued and determined there are no subsequent events to report outside of the below: Initial Public Offering, Private Placement and Corporate Reorganization On July 1, 2024, LandBridge completed its initial public offering of 14,500,000 Class A shares representing limited liability company interest (“Class A shares”) at a price to the public of $ 17.00 per share. In addition, LandBridge granted the underwriters a 30-day option to purchase up to an additional 2,175,000 Class A shares at the public offering price, less underwriting discounts and commissions, which was exercised on July 1, 2024. In addition to the Class A shares sold in the Offering, on July 1, 2024, LandBridge sold 750,000 Class A shares at a price of $ 17.00 per share in the concurrent private placement to an accredited investor. The Offering, including the underwriters’ option, and the private placement closed on July 1, 2024. The closing of the Offering, including the underwriters’ option, and the private placement resulted in net proceeds of approximately $ 270.9 million , after deducting underwriting discounts and commissions, placement agent fees, and $ 7.5 million of offering expenses payable by LandBridge (with any additional offering expenses to be paid by LandBridge out of cash on balance sheet). LandBridge contributed all of the net proceeds of the Offering, including the underwriters’ option, and the private placement in exchange for membership interests in us (“Units”) at a per-unit price equal to the per share price paid by the underwriters for LandBridge’s Class A shares in the Offering. We distributed approximately $ 170.9 million pro rata to our existing owners and utilized approximately $ 100.0 million to repay outstanding borrowings under the Credit Facilities. Amended and Restated LLC Agreement On July 1, 2024, in connection with the Offering, LandBridge Holdings and LandBridge caused the amendment and restatement of our Limited Liability Company Agreement (the “A&R LLC Agreement”). The A&R LLC Agreement includes, among other things: (i) the conversion of all Units into a single class of Units, with 73,151,603 outstanding as of July 1, 2024, consisting of 17,425,000 Units owned by LandBridge and 55,726,603 Units owned by LandBridge Holdings and (ii) admitted LandBridge as the sole managing member of the Company. In accordance with the terms of the A&R LLC Agreement, the holders of our Units will, subject to certain limitations, have the right to redeem their Units (together with the cancelation of a corresponding number of Class B shares representing limited liability company interests of LandBridge) for Class A shares at an exchange ratio of one Class A share for each Unit (together with the cancelation of a corresponding number of Class B shares) exchanged, subject to conversion rate adjustments for share splits, dividends and reclassifications. Pursuant to the A&R LLC Agreement and the Amended and Restated Limited Liability Company Agreement of LandBridge, our capital structure and the capital structure of LandBridge will generally replicate one another and will provide for customary anti-dilution mechanisms in order to maintain the one-for-one exchange ratio between the Units and Class A shares. Management Incentive Units On July 1, 2024, prior to the Offering, NDB LLC was divided into two Delaware limited liability companies in accordance with the plan of division: (i) NDB LLC and (ii) LandBridge Holdings. As a result of such division, LandBridge Holdings became the sole member of the Company and entered into the A&R LLC Agreement, to facilitate the Offering. As a result of the A&R LLC Agreement, holders of Incentive Units at NDB LLC also hold Incentive Units at LandBridge Holdings. In conjunction with the A&R LLC Agreements at both NDB LLC and LandBridge Holdings, the repurchase feature triggering liability award accounting was amended to require repurchase at fair value as of the repurchase date, thereby eliminating the liability award accounting, including periodic fair value remeasurement. Beginning on July 1, 2024, in accordance with the plan of division, the Incentive Units held at LandBridge Holdings will be the only Incentive Units attributable and allocated to the Company. These Incentive Units are accounted for as a modification and will transition to equity award accounting.
LandBridge Company LLC
Subsequent Event [Line Items]
Subsequent Events	5. Subsequent Events On July 1, 2024, we closed the Offering o f 16,675,000 shar es of Class A shares (including 2,175,000 Class A shares issued and sold pursuant to the underwriters’ exercise in full of their option to purchase additional shares of Class A common shares), at a price to the public of $ 17.00 per share ( $ 15.94 per share net of underwriting discounts). In addition to the Class A shares sold in the Offering, on July 1, 2024 LandBridge sold 750,000 Class A shares at a price of $ 17.00 per Class A share in the concurrent private placement ( 16.67 per share net of private placement fees). The Company received net proceeds from the Offering, including the underwriters’ option to purchase additional shares, and the concurrent private placement of approximately $ 270.9 million , after deducting underwriting discounts, fees and $ 7.5 million of offering expenses payable by the Company (with any additional offering expenses to be paid by the Company out of cash on balance sheet). The Company contributed all of the net proceeds received from the Offering to OpCo in exchange for membership interests in OpCo (“OpCo Units”) at a per-unit price equal to the per share price paid by the underwriters for our Class A shares in the Offering. OpCo distributed approximately $ 170.9 million to its existing owners and utilized approximately $ 100.0 million to repay outstanding borrowings under the Credit Facilities. We contributed all the net proceeds of the Offering, including the net proceeds from the underwriters’ exercise of their option in full to purchase additional Class A shares, and the concurrent private placement to OpCo in exchange for 17,425,000 OpCo Units.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies [Line Items]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements (the “Financial Statements”) of the Company have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflects all adjustments, consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's annual audited financial statements and accompanying notes for the year ended December 31, 2023, included within the Company’s final prospectus filed with the SEC on June 28, 2024 (the “Prospectus”), pursuant to Rule 424(b) under the Securities Act. All dollar amounts in the Financial Statements and tables in the notes are stated in thousands of dollars unless otherwise indicated. Results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2024. All of the Company’s subsidiaries are wholly owned, either directly or indirectly through wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. There were no variable interest entities for any periods presented herein. Basic and diluted net income per common unit holder is not presented since the ownership structure of the Company is not a common unit of ownership.
Use of Estimates	Use of Estimates The preparation of the Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes. The Company evaluates its estimates and related assumptions regularly, including those related to the fair value measurements of assets acquired and liabilities assumed in a business combination, the collectability of accounts receivable, the assessment of recoverability and useful lives of long-lived assets, including property, plant and equipment, intangible assets, and the valuation of share-based compensation. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from such estimates.
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Whenever available, fair value is based on or derived from observable market prices or parameters. When observable market prices or inputs are not available, unobservable prices or inputs are used to estimate the fair value. The three levels of the fair value measurement hierarchy are as follows: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: Unobservable inputs that are not corroborated by market data. The Company’s financial instruments consist primarily of accounts receivable and accounts payable. The carrying value of the Company’s accounts receivable and accounts payable approximate fair value due to their highly liquid nature or short-term maturity. The Company adjusts the carrying amount of certain non-financial assets, property, plant and equipment and definite-lived intangible assets, to fair value on a non-recurring basis when they are impaired. The fair value of debt is the estimated amount the Company would have to pay to transfer its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at the balance sheet date. Refer to Note 6 – Debt for additional information. Recurring fair value measurements are performed for management incentive units, as disclosed in Note 7 – Share-Based Compensation. During the six months ended June 30, 2024 and 2023 , there were no transfers between the fair value hierarchy levels.
Intangible Assets	Intangible Assets Our intangible assets with definite useful lives include water rights and surface use agreements. The amounts are presented at the Company’s cost basis. Such intangible assets with definite lives are amortized on a straight-line basis and assume no residual value. On March 18, 2024, the Company acquired a surface use agreement as part of an acquisition of land in Lea County, New Mexico. The purchase consideration attributable to the surface use agreement was approximately $ 0.5 million , which will be amortized over a term of 30 years. Refer to Note 3 - Asset Acquisitions for further information regarding the transaction.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs consist of Offering costs, related to underwriting, legal, accounting, and other expenses incurred through the balance sheet date that are directly related to the Offering. These costs will be offset against proceeds in the periods following the consummation of the Offering. As of June 30, 2024 and December 31, 2023, the Company had $ 9.6 million and $ 3.7 million of deferred offering costs included in other assets on the condensed consolidated balance sheets, respectively, of which $ 6.0 million and $ 2.0 million were accrued as of the periods presented.
Asset Acquisitions	Asset Acquisitions We record asset acquisitions using the cost accumulation model. Under the cost accumulation model of accounting, the cost of the acquisition, including certain transaction costs, are allocated to the assets acquired using relative fair values.
Share-Based Compensation	Share-Based Compensation The Company accounts for share-based compensation expense for incentive units granted in exchange for employee services. Our management and employees currently participate in an equity-based incentive unit plan, managed by NDB LLC, the direct parent of the Company. The management incentive units consist of time-based awards of profits interests in NDB LLC (the “Incentive Units”), and the Amended and Restated Limited Liability Company Agreement of NDB LLC (the “NDB LLC Agreement”) authorizes the issuance of 10,000 Incentive Units. On June 27, 2024, the Board of Managers of NDB LLC increased the total units authorized from 10,000 to 15,000 Incentive Units. The Incentive Units represent a substantive class of equity of NDB LLC and are accounted for under Financial Accounting Standards Board (“FASB”) ASC Topic 718, Compensation – Stock Compensation (“ASC 718”). Features of the Incentive Units include the ability for NDB LLC to repurchase Incentive Units during a 180-day option period, whereby the fair value price is determined as of the termination date, not the repurchase date, which temporarily takes away the rights and risks and rewards of ownership from the Incentive Unit holder during the option period. Under ASC 718, a feature for which the employee could bear the risks, but not gain the rewards, normally associated with equity ownership requires liability classification. NDB LLC classifies the Incentive Units as liability awards. The liability related to the Incentive Units is recognized at NDB LLC as the entity responsible for satisfying the obligation. Share-based compensation income or expense pushed down to the Company is recognized as a deemed non-cash contribution to or distribution from member’s equity on the condensed consolidated balance sheets. The share-based compensation income or expense is recognized consistent with NDB LLC’s classification of a liability award resulting in the initial measurement, and subsequent remeasurements, recognized ratably over the vesting period. Value within each Incentive Unit pool is allocated among Incentive Unit holders via a distribution waterfall. The Incentive Units with the lowest threshold value within the pool will be allocated value first. Once the value of the Incentive Units with the lowest threshold value reaches the next lowest threshold value, the lowest threshold value Incentive Units will cease earning value. The next lowest threshold value Incentive Units then receive value until its value is equal to its own threshold value (the “Catch-Up Mechanics”). At this point, both the lowest and second lowest threshold value Incentive Units have a value equal to the second lowest threshold value. Both groups of Incentive Units continue to earn value until this value is equal to the third lowest threshold value, when the Catch-Up Mechanics are applied. When all Incentive Units have earned value up to the highest threshold value, all Incentive Units will earn value pro rata based on the total number of units issued thereafter. At each reporting period, NDB LLC’s Incentive Units are remeasured at their fair value, consistent with liability award accounting, using a Monte Carlo Simulation. The Monte Carlo Simulation requires judgment in developing assumptions, which involve numerous variables. These variables include, but are not limited to, the expected unit price volatility over the term of the awards, the expected distribution yield and the expected life of Incentive Unit vesting. The vested portion of NDB LLC’s Incentive Unit liability is allocated pro rata to the Company, and other NDB LLC operating subsidiaries, as share-based compensation income or expense on the consolidated statements of operations. The allocation is based on the Company’s share of the aggregate equity value derived in NDB LLC’s business enterprise valuation. The Company updates its assumptions each reporting period based on new developments and adjusts such amounts to fair value based on revised assumptions, if applicable, over the vesting period. For the six months ended June 30, 2024 and 2023, the fair values of the Incentive Units were estimated using various assumptions as discussed in Note 7 – Share-Based Compensation. The fair value measurement is based on significant inputs not observable in the market, and thus represents Level 3 inputs within the fair value hierarchy. The risk-free rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of each award and updated at each balance sheet date for the time period approximating the expected term of such award. The expected distribution yield is based on no previously paid distributions and no intention of paying distributions on the Incentive Units for the foreseeable future. Due to the Company not having sufficient historical volatility, the Company uses the historical volatilities of publicly traded companies that are similar to the Company in size, stage of life cycle and financial leverage. The Company will continue to use this peer group of companies unless a situation arises within the group that would require evaluation of which publicly traded companies are included or once sufficient data is available to use the Company’s own historical volatility. For criteria dependent upon a change in control, the Company will not recognize any incremental expense until the event occurs. Differences between actual results and such estimates could have a material effect on the Financial Statements. See Note 10 - Subsequent Events - Management Incentive Units for additional information related to the change in accounting related to Incentive Unit expense recognition.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280). This guidance requires a public entity, including entities with a single reportable segment, to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. We plan to adopt this guidance and conform with the applicable disclosures retrospectively when it becomes mandatorily effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). This guidance further enhances income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. We plan to adopt this guidance and conform with the disclosure requirements when it becomes mandatorily effective for annual periods beginning after December 15, 2024 .
Parent
Significant Accounting Policies [Line Items]
Basis of Presentation and Consolidation	Basis of Presentation The accompanying unaudited financial statements (the “Financial Statements”) of the Company have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflects all adjustments, consisting of normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company's annual audited financial statements and accompanying notes for the year ended December 31, 2023, included within the Company’s final prospectus filed with the SEC on June 28, 2024 (the “Prospectus”), pursuant to Rule 424(b) under the Securities Act. Separate Statements of Operations, Changes in Member’s Equity and Cash Flows have not been presented because we have not had any business transactions or activities since inception as of September 27, 2023 through June 30, 2024 , except for our initial capitalization. In this regard, we have determined that general and administrative costs associated with the formation and daily management of the Company are insignificant. All dollar amounts in the balance sheets and in the notes are stated in dollars unless otherwise indicated.
Income Taxes	Income taxes The Company has elected to be treated as a corporation for U.S. federal income tax purposes and is subject to U.S. federal and state income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts and income tax basis of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards, using enacted tax rates in effect for the taxing jurisdiction in which we operate for the year in which those temporary differences are expected to be recovered or settled. As of June 30, 2024 and December 31, 2023, there are no income tax related balances reflected in our balance sheets.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	As of June 30, 2024 and December 31, 2023, property, plant and equipment, net of accumulated depreciation consisted of the following: June 30, December 31, 2024 2023 Oil and natural gas properties Proved $ 36,054 $ 36,054 Unproved 3,057 3,057 Total oil and natural gas properties 39,111 39,111 Land and land improvements 585,485 157,737 Water wells, pipelines, facilities, ponds and related equipment 15,574 15,132 Buildings, vehicles, equipment, furniture and other 3,498 2,594 Construction in progress 774 - 644,442 214,574 Less: accumulated depreciation and depletion ( 14,630 ) ( 11,556 ) Total property, plant and equipment, net $ 629,812 $ 203,018

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	As of June 30, 2024 and December 31, 2023, our debt consisted of the following: June 30, December 31, 2024 2023 Term loan $ 350,000 $ 95,000 Revolving credit facility 50,000 35,000 Other 262 494 Total debt 400,262 130,494 Current portion of long-term debt ( 35,148 ) ( 20,339 ) Unamortized debt issuance costs ( 4,269 ) ( 1,812 ) Total long-term debt $ 360,845 $ 108,343

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Fair Value of Incentive Units	The weighted average fair value of the Incentive Units is estimated and remeasured using a Monte Carlo Simulation with the following inputs as of June 30: 2024 2023 Estimated equity value $ 1,541,210 $ 729,798 Expected life (in years) 1.7 1.0 Risk-free interest rate 4.7 % 5.3 % Dividend yield 0 % 0 % Volatility 40.0 % 25.0 % Marketability discount 18.0 % - 19.0 % 19.0 %
Schedule of Number of Incentive Units Granted and Forfeited	The number of Incentive Units granted and forfeited during the six months ended June 30, 2024 and 2023 is shown in the following table: 2024 2023 Outstanding at beginning of period 9,992 5,378 Granted - - Forfeited ( 54 ) ( 33 ) Outstanding at end of period 9,938 5,345
Schedule of Changes of Incentive Units	Changes in the fair value of the Incentive Units as of June 30, 2024 and 2023 were as follows: 2024 2023 Balance at beginning of period $ 35,873 $ 46,827 Remeasurements 101,428 ( 24,164 ) Balance at end of period $ 137,301 $ 22,663

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Three Months Ended June 30, Six Months Ended June 30, Financial Statements Location 2024 2023 2024 2023 Revenues - Related Party Affiliate access agreements Resource sales $ 179 $ 404 $ 272 $ 1,488 Affiliate access agreements Easements and other surface-related revenues $ 2,376 $ 3,274 $ 2,759 $ 3,857 Affiliate access agreements Surface use royalties $ 3,667 $ 895 $ 6,275 $ 1,774 Affiliate access agreements Resource royalties $ 1,107 $ - $ 1,107 $ - Financial Statements Location June 30, 2024 December 31, 2023 Accounts Receivable - Related Party Affiliate access agreements Related party receivable $ 2,862 $ 1,037 Accounts Payable - Related Party Shared services agreement Related party payable $ 498 $ 453

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Details) - $ / shares	Jul. 01, 2024	Oct. 15, 2021
Hanging H Ranch, Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage		100%
LandBridge Company LLC | Class A Shares | IPO | Subsequent Event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued during the period (in shares)	14,500,000
Shares issued, price per share	$ 17
Number of days option given to purchase additional shares	30 days
LandBridge Company LLC | Class A Shares | Over - Allotment Option | Subsequent Event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued during the period (in shares)	2,175,000
LandBridge Company LLC | Class A Shares | Private Placement | Subsequent Event
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued during the period (in shares)	750,000
Shares issued, price per share	$ 17

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)		6 Months Ended
	Mar. 18, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 27, 2024	Jun. 26, 2024	Dec. 31, 2023
Significant Accounting Policies [Line Items]
Transfers between the fair value hierarchy levels		$ 0	$ 0
Purchase consideration of surface use agreement	$ 500,000
Surface use agreement amortized over a term	30 years
Deferred offering costs		9,600,000				$ 3,700,000
Accrued deferred offering costs		6,000,000				$ 2,000,000
Parent
Significant Accounting Policies [Line Items]
Income tax related balances		$ 0
NDB LLC Agreement [Member]
Significant Accounting Policies [Line Items]
Issuance of incentive units		10,000
NDB LLC Agreement [Member] | Incentive Units [Member]
Significant Accounting Policies [Line Items]
Issuance of incentive units		10,000		15,000	10,000

Member's Equity - Additional In

Member's Equity - Additional Information (Details) - Parent - USD ($)	6 Months Ended
	Jun. 30, 2024	Sep. 27, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Deemed non-cash contribution		$ 1,000
Class A Shares
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Outstanding common shares	17,425,000
Class B Shares
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Outstanding common shares	55,726,603
Sole Liability
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Limited liability interests	100%

Asset Acquisition - Additional

Asset Acquisition - Additional Information (Details) $ in Millions	May 10, 2024 USD ($) a	Mar. 18, 2024 USD ($) a
Asset Acquisition [Line Items]
Purchase consideration intangible asset value		$ 0.5
Lea County Asset Acquisition
Asset Acquisition [Line Items]
Area of land | a		11,000
Total purchase consideration		$ 26.4
Transaction costs		0.3
Purchase consideration intangible asset value		0.5
Lea County Asset Acquisition | Land
Asset Acquisition [Line Items]
Total purchase consideration		$ 25.9
Loving, Winkler and Lea Counties Asset Acquisition
Asset Acquisition [Line Items]
Area of land | a	103,000
Total purchase consideration	$ 362.2
Transaction costs	1.7
Loving, Winkler and Lea Counties Asset Acquisition | Land
Asset Acquisition [Line Items]
Total purchase consideration	361.5
Loving, Winkler and Lea Counties Asset Acquisition | Other Assets
Asset Acquisition [Line Items]
Total purchase consideration	$ 0.7
Lea and Andrews County Asset Acquisition
Asset Acquisition [Line Items]
Area of land | a	34,000
Total purchase consideration	$ 42.2
Transaction costs	$ 0.3

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Oil and natural gas properties
Proved	$ 36,054	$ 36,054
Unproved	3,057	3,057
Total oil and natural gas properties	39,111	39,111
Property, plant and equipment, gross	644,442	214,574
Less: accumulated depreciation and depletion	(14,630)	(11,556)
Total property, plant and equipment, net	629,812	203,018
Land and Land Improvements [Member]
Oil and natural gas properties
Property, plant and equipment, gross	585,485	157,737
Water Wells, Pipelines, Facilities, Ponds And Related Equipment [Member]
Oil and natural gas properties
Property, plant and equipment, gross	15,574	15,132
Buildings, Vehicles, Equipment, Furniture And Other [Member]
Oil and natural gas properties
Property, plant and equipment, gross	3,498	2,594
Construction in Progress [Member]
Oil and natural gas properties
Property, plant and equipment, gross	$ 774	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation and depletion expense	$ 1.5	$ 1.5	$ 3.1	$ 2.7

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - NDB LLC Agreement - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 27, 2024	Jun. 26, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of incentive units	10,000		10,000
Incentive Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of incentive units	10,000		10,000		15,000	10,000
Aggregate fair value			$ 137,300,000	$ 22,700,000
Aggregate fair value, per unit				$ 4,240
Cumulative vested value	$ 95,500,000		95,500,000
Share-based compensation expense	71,800,000	$ 28,700,000	72,600,000	$ 17,500,000
Unrecognized compensation expense	$ 41,800		$ 41,800
Weighted average remaining vesting period			2 years
Accelerated vesting	0	0	0	0
Minimum [Member] | Incentive Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value, per unit			$ 13,948
Maximum [Member] | Incentive Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value, per unit			$ 13,662

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Weighted Average Fair Value of Incentive Units (Details) - Incentive Units [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated equity value	$ 1,541,210	$ 729,798
Expected life (in years)	1 year 8 months 12 days	1 year
Risk-free interest rate	4.70%	5.30%
Dividend yield	0%	0%
Volatility	40%	25%
Marketability discount		19%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Marketability discount	18%
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Marketability discount	19%

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Number of Incentive Units Granted and Forfeited (Details) - Incentive Units [Member] - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning of period	9,992	5,378
Forfeited	(54)	(33)
Outstanding at end of period	9,938	5,345

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Changes of Incentive Units (Details) - Incentive Units [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Balance at beginning of period	$ 35,873	$ 46,827
Remeasurements	101,428	(24,164)
Balance at end of period	$ 137,301	$ 22,663

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Texas margin tax liability	$ 0.2	$ 0.4

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	May 10, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 400,262	$ 265,000	$ 130,494
Current portion of long-term debt	(35,148)		(20,339)
Unamortized debt issuance costs	(4,269)		(1,812)
Total long-term debt	360,845		108,343
Term Loan
Debt Instrument [Line Items]
Total debt	350,000		95,000
Unamortized debt issuance costs	(4,300)		(1,800)
Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	50,000		35,000
Other
Debt Instrument [Line Items]
Total debt	$ 262		$ 494

Debt - Credit Facilities - Addi

Debt - Credit Facilities - Additional Information (Details) $ in Thousands		6 Months Ended
	Jul. 03, 2023 USD ($)	Jun. 30, 2024 USD ($)	May 10, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Borrowings		$ 400,262	$ 265,000	$ 130,494
Lineof credit covenants compliance description		The Company was in compliance with these covenants as of June 30, 2024.
Liquidity		$ 10,000
Leverage ratio		4
Qualified acquisition leverage ratio		0.5
Permitted acquisition leverage ratio		0.5
Permitted acquisitions additional step up ratio		0.25
Interest coverage ratio		2.75
Service coverage ratio		1.25
Minimum
Debt Instrument [Line Items]
Profroma leverage ratio		3.25
Minimum | Commitment fees
Debt Instrument [Line Items]
Debt instrument, interest rate margin		0.375%
Maximum
Debt Instrument [Line Items]
Leverage ratio		3.5
Maximum | Commitment fees
Debt Instrument [Line Items]
Debt instrument, interest rate margin		0.50%
SOFR
Debt Instrument [Line Items]
Credit facilities to accrue interest rate		0.10%
SOFR | Minimum | Letter of credit fees
Debt Instrument [Line Items]
Debt instrument, interest rate margin		2.75%
SOFR | Maximum | Letter of credit fees
Debt Instrument [Line Items]
Debt instrument, interest rate margin		3.75%
Base rate | Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate margin		1.75%
Base rate | Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate margin		2.75%
Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 100,000
Line of credit facility term	4 years
Borrowings		$ 350,000		95,000
Repayment of debt		100,000
Term Loan | Credit Agreement Amendment
Debt Instrument [Line Items]
Debt instrument, face amount			350,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, amount	$ 50,000	75,000
Borrowings		$ 50,000		$ 35,000
Revolving Credit Facility | Credit Agreement Amendment
Debt Instrument [Line Items]
Line of credit facility, amount			$ 75,000

Debt - Term Loan - Additional I

Debt - Term Loan - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Amortization of debt issuance costs			$ 519,000
Debt issuance costs, net	$ 4,269,000		$ 4,269,000		$ 1,812,000
Term Loan
Debt Instrument [Line Items]
Debt instrument, payment terms			Any principal amounts outstanding on the maturity date, July 3, 2027, become due and payable on such date.
Amortization of debt issuance costs	400,000		$ 500,000
Debt issuance costs, net	4,300,000		4,300,000		1,800,000
Interest expense	$ 5,000,000	$ 0	$ 6,900,000	$ 0
Weighted average interest rate	8.42%		8.43%
Accrued interest payable	$ 4,200,000		$ 4,200,000		$ 1,200,000

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jul. 03, 2023
Debt Instrument [Line Items]
Amortization of debt issuance costs			$ 519,000
Debt issuance costs	$ 4,269,000		4,269,000		$ 1,812,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, amount	75,000,000		75,000,000			$ 50,000,000
Line of credit facility, current borrowing capacity	50,000,000		50,000,000
Amortization of debt issuance costs	100,000		200,000
Interest expense	$ 1,100,000	$ 0	$ 1,900,000	$ 0
Debt instrument maturity date			Jul. 03, 2027
Weighted average interest rate	8.41%		8.43%
Accrued interest payable	$ 600,000		$ 600,000		300,000
Revolving Credit Facility | Short-Term Debt | Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Debt issuance costs	400,000		400,000		300,000
Revolving Credit Facility | Long-Term Debt | Other Assets
Debt Instrument [Line Items]
Debt issuance costs	800,000		800,000		$ 600,000
Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Line of credit facility, amount	50,000,000		50,000,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, amount	$ 5,000,000		$ 5,000,000

Debt - Ag Loan - Additional Inf

Debt - Ag Loan - Additional Information (Details) - Ag Loan $ in Millions		3 Months Ended	6 Months Ended
	Oct. 14, 2021 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 65
Debt instrument term	7 years
Fixed charge coverage ratio			1.25
Maximum debt to tangible net worth ratio			0.45
Annual interest rate			5.25%
Debt instrument maturity date			Oct. 01, 2028
Covenant terms			The Ag Loan included certain affirmative and restrictive covenants common in such agreements that apply to the Company and the guarantors, including a minimum fixed charge coverage ratio of 1.25:1.00 and a maximum debt to tangible net worth ratio of 0.45:1:00, in each case tested as of the end of each fiscal quarter. The Company was required to make scheduled monthly payments on the outstanding principal amount for the term of the Ag Loan at an annual interest rate of 5.25%, with all remaining outstanding amounts due and payable on the scheduled maturity date, October 1, 2028.
Debt instrument termination date			Jul. 03, 2023
Interest expense		$ 0.7		$ 1.4
Weighted average interest rate		5.25%		5.25%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Revenues - Related Party	$ 25,953	$ 21,722	$ 44,968	$ 37,610
Related Party
Related Party Transaction [Line Items]
Accounts Receivable - Related Party	2,862		2,862		$ 1,037
Accounts Payable - Related Party	498		498		453
Related Party | Affiliate Access Agreements
Related Party Transaction [Line Items]
Accounts Receivable - Related Party	2,862		2,862		1,037
Related Party | Shared Services Agreement
Related Party Transaction [Line Items]
Accounts Payable - Related Party	498		498		$ 453
Related Party | Resource Sales | Affiliate Access Agreements
Related Party Transaction [Line Items]
Revenues - Related Party	179	404	272	1,488
Related Party | Easements and Other Surface Related Revenues | Affiliate Access Agreements
Related Party Transaction [Line Items]
Revenues - Related Party	2,376	3,274	2,759	3,857
Related Party | Surface Use Royalties | Affiliate Access Agreements
Related Party Transaction [Line Items]
Revenues - Related Party	3,667	$ 895	6,275	$ 1,774
Related Party | Resource Royalties | Affiliate Access Agreements
Related Party Transaction [Line Items]
Revenues - Related Party	$ 1,107		$ 1,107

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - Related Party - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Shared Services Agreement
Related Party Transaction [Line Items]
Shared services and direct cost reimbursements	$ 1	$ 1.1	$ 2.1	$ 2.9
Equity Sponsor Services Agreement
Related Party Transaction [Line Items]
GIS and legal services reimbursement paid	$ 0.1		$ 0.2	$ 0.1

Commitments and Contingencies -

Commitments and Contingencies - Additional Information - (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Oct. 31, 2021	Jun. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Business Combination, Additional consideration		$ 5
Hanging H Ranch, Inc.
Other Commitments [Line Items]
Business combination, payment description		the Company agreed to pay one of the sellers $5.0 million as additional consideration over the next ten years on each anniversary of closing, beginning on October 14, 2022, and in exchange for the additional consideration, such seller agreed to subordinate its rights under a grazing lease to the rights of the lender under the Ag Loan.
Business Combination, Additional consideration	$ 5
Other Current Liabilities
Other Commitments [Line Items]
Business combination, Contingent liabilities		$ 0.5	$ 0.5
Other Long-term Liabilities
Other Commitments [Line Items]
Business combination, Contingent liabilities		$ 2.6	$ 2.6

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2023
Subsequent Event [Line Items]
Payment of distributions		$ 23,000
Subsequent Event
Subsequent Event [Line Items]
Conversion of membership interests	73,151,603
Subsequent Event | LandBridge Holdings, LLC
Subsequent Event [Line Items]
Conversion of membership interests	55,726,603
Class A Shares | Subsequent Event
Subsequent Event [Line Items]
Payment of distributions	$ 170,900
Class A Shares | Subsequent Event | Landbridge
Subsequent Event [Line Items]
Net proceeds from offering, including underwriter's option to purchase shares and concurrent private placement	270,900
Offering expenses	7,500
Repayment of outstanding borrowings under the credit agreement	$ 100,000
LandBridge Company LLC | Subsequent Event
Subsequent Event [Line Items]
Conversion of membership interests	17,425,000
LandBridge Company LLC | Class A Shares | Subsequent Event
Subsequent Event [Line Items]
Net proceeds from offering, including underwriter's option to purchase shares and concurrent private placement	$ 270,900
Payment of distributions	170,900
LandBridge Company LLC | Class A Shares | Subsequent Event | Landbridge
Subsequent Event [Line Items]
Offering expenses	7,500
Repayment of outstanding borrowings under the credit agreement	$ 100,000
LandBridge Company LLC | Class A Shares | IPO | Subsequent Event
Subsequent Event [Line Items]
Shares issued during the period (in shares)	14,500,000
Stock issued during period shares new issues including additional shares issued to underwriters	16,675,000
Shares issued, price per share	$ 17
Number of days option given to purchase additional shares	30 days
LandBridge Company LLC | Class A Shares | Over - Allotment Option | Subsequent Event
Subsequent Event [Line Items]
Shares issued during the period (in shares)	2,175,000
LandBridge Company LLC | Class A Shares | Private Placement | Subsequent Event
Subsequent Event [Line Items]
Shares issued during the period (in shares)	750,000
Shares issued, price per share	$ 17
LandBridge Company LLC | Class A Shares | Underwriting Discounts | Subsequent Event
Subsequent Event [Line Items]
Shares issued, price per share	15.94
LandBridge Company LLC | Class A Shares | Private Placement Fees | Subsequent Event
Subsequent Event [Line Items]
Shares issued, price per share	$ 16.67