Welcome to our dedicated page for Western Midstream Partners, LP news (Ticker: WES), a resource for investors and traders seeking the latest updates and insights on Western Midstream Partners, LP stock.
Western Midstream Partners, LP (NYSE: WES) is a leading US-based master limited partnership specializing in midstream energy assets. Headquartered in The Woodlands, Texas, the company operates through its subsidiary Western Gas Holdings, LLC. WES is dedicated to the gathering, processing, compressing, treating, and transporting of natural gas, condensate, NGLs, and crude oil. The company's operations span several key regions, including the Rocky Mountains, Mid-Continent, North-Central Pennsylvania, and Texas.
Western Midstream’s assets are integral to the energy supply chain, ensuring the efficient movement of vital resources. Their facilities include state-of-the-art infrastructure for gathering, stabilizing, and transporting various forms of energy, as well as disposing of produced water. The company's financial health is robust, with significant cash flows protected from commodity price volatility through fee-based contracts.
Recent achievements underscore WES's growth and stability. In 2023, the company reported net income attributable to limited partners of $998.5 million, with adjusted EBITDA totaling $2.069 billion. Notably, WES has increased its quarterly cash distribution to $0.8750 per unit for the first quarter of 2024, a 52% increase from the previous quarter, reflecting strong operational performance and financial discipline.
WES is also making strategic divestitures of non-core assets, generating $790 million in proceeds and focusing on enhancing their core operated assets. These moves are expected to drive operational efficiencies and further growth, positioning WES as a leader in the midstream sector.
For more detailed insights and the latest updates, visit the Western Midstream Partners website.
Western Midstream Partners (NYSE: WES) has appointed Oscar K. Brown as President and CEO, replacing Michael Ure who is stepping down after five years of leadership. Brown, an independent director since 2019 with over 30 years of energy sector experience, will remain on the Board. Under Ure's tenure, WES achieved significant organic growth in the Delaware Basin, expanded in the Powder River Basin through the Meritage Midstream acquisition, and returned approximately $4.6 billion to unitholders. The Partnership reaffirmed its 2024 guidance, expecting Adjusted EBITDA of $2.2-2.4 billion and Free Cash Flow of $1.05-1.25 billion, with results anticipated toward the higher end of these ranges.
Western Midstream Partners, LP (NYSE: WES) has announced its third-quarter 2024 distribution and earnings conference call details. The board of directors declared a quarterly cash distribution of $0.8750 per unit, maintaining the same level as the previous quarter. This equates to $3.50 on an annualized basis. The distribution is payable on November 14, 2024, to unitholders of record as of November 1, 2024.
WES will report its Q3 2024 results after market close on November 6, 2024. A conference call is scheduled for November 7, 2024, at 1:00 p.m. Central to discuss the quarterly results. Investors can dial in using the number 800-836-8184 (US) or 646-357-8785 (International). A live audio webcast and replay will be available on the company's website.
Western Midstream Partners (NYSE: WES) has announced a post-earnings interview with CFO Kristen Shults and COO Danny Holderman, to be made available on their website on August 20, 2024. The interview aims to provide additional insights into the company's second-quarter 2024 results. Additionally, WES has disclosed its participation in several investor conferences during the third quarter of 2024, including:
- Barclays CEO Energy Conference (Sept. 4)
- MUFG Oil & Gas Conference (Sept. 5)
- NYSE Energy & Utilities Virtual Investor Access Day (Sept. 10)
- Wolfe Research Utilities, Midstream & Clean Energy Conference (Oct. 2)
- Citadel Securities Energy Investor Days (Oct. 3)
These events provide opportunities for investors to gain further insights into WES's operations and strategy.
Western Midstream Partners, LP (NYSE: WES) announced that its subsidiary, Western Midstream Operating, LP, has priced an offering of $800 million in 5.45% senior notes due 2034 at 99.743% of face value. The offering is expected to close on August 20, 2024. Net proceeds will be used to repay a portion of maturing 3.100% and 3.950% Senior Notes due 2025 and for general partnership purposes, including funding capital expenditures. The offering is being managed by TD Securities (USA) , BofA Securities, Inc., MUFG Securities Americas Inc., and PNC Capital Markets . It will be made through a prospectus and related supplement, with copies available from the joint book-running managers or the SEC's website.
Western Midstream Partners, LP (NYSE: WES) has announced the pricing of a secondary public offering of 19,000,000 common units by affiliates of Occidental (NYSE: OXY). The offering is expected to raise $685.9 million in gross proceeds and close on August 14, 2024. Barclays, the sole book-running manager, has been granted a 30-day option to purchase up to 2,850,000 additional units. WES will not receive any proceeds from the sale as it is not selling any units in this offering. The offering is being made through a prospectus supplement and base prospectus, part of a shelf registration statement that became effective on March 30, 2023.
Western Midstream Partners, LP (NYSE: WES) has announced a secondary public offering of 19,000,000 common units by affiliates of Occidental (NYSE: OXY). The Selling Unitholders are granting Barclays, the sole underwriter, a 30-day option to purchase up to 2,850,000 additional units. WES is not selling any units and will not receive proceeds from the offering. The offering is subject to market conditions and there's no guarantee of completion. It will be made through a prospectus supplement and base prospectus, part of a shelf registration statement effective March 30, 2023. Barclays Capital Inc. is managing the offering, with materials available through them or the SEC website.
Western Midstream Partners (NYSE: WES) reported strong Q2 2024 results, with Net income of $369.8 million ($0.97 per unit) and Adjusted EBITDA of $578.1 million. Cash flows from operations reached $631.4 million, generating Free cash flow of $424.8 million. WES announced a Q2 Base Distribution of $0.875 per unit ($3.50 annualized).
Highlights include record throughput in Delaware and DJ Basins, new commercial agreements, and debt reduction. WES reduced total debt by $762.6 million since year-end 2023, achieving its long-term net leverage target of 3.0x earlier than expected. The company expects 2024 Adjusted EBITDA and Free cash flow to trend towards the high end of guidance ranges.
Western Midstream Partners (NYSE: WES) has announced its second-quarter 2024 distribution and earnings conference call details. The company declared a quarterly cash distribution of $0.8750 per unit, maintaining the same level as the previous quarter. This equates to $3.50 on an annualized basis. The distribution is payable on August 14, 2024, to unitholders of record as of August 1, 2024.
WES will report its Q2 2024 results after market close on August 7, 2024. A conference call is scheduled for August 8, 2024, at 1:00 p.m. Central Time to discuss the quarterly results. Investors can access the call via phone or live audio webcast on the company's website. A replay of the call will be available on the website afterward.
Western Midstream Partners (NYSE: WES) announced the availability of its 2023 Schedule K-3 online for unitholders with international tax relevance. The form can be accessed on www.taxpackagesupport.com/westernmidstream. This information is important for a number of unitholders, especially foreign unitholders, those computing a foreign tax credit, and certain corporate or partnership unitholders. Unitholders can also request an electronic copy via email by calling Tax Package Support toll-free at 833-618-2034.
Western Midstream Partners, LP (NYSE: WES) announced an upcoming post-earnings interview with CFO Kristen Shults and SVP Danny Holderman to discuss first-quarter 2024 results. The company will also participate in investor conferences in the second quarter of 2024.
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