Aug. 26 at 1:39 PM
$LB serious question as I am familiar with some of the Permian water plays like
$ARIS and
$WTTR - why does this business trade at such a premium valuation? I have it around 25x 2025 consensus EBITDA when you include the Class B shares. Even Aris which was a pure play Permian with very high exposure to production (as opposed to drilling) only got taken out at a high single digit EBITDA multiple excluding synergies. Thanks!