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Western Midstream Partners, LP - WES STOCK NEWS

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.

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Western Midstream Partners, LP (NYSE: WES) reported first-quarter 2024 Net income of $559.5 million and Adjusted EBITDA of $608.4 million. They also announced a Base Distribution increase and completed a natural-gas processing project. The company is focused on reducing leverage and returning capital to stakeholders.

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Western Midstream Partners, LP (NYSE: WES) announced a 52% increase in its quarterly cash distribution for the first quarter of 2024, reaching $0.8750 per unit. The distribution is in line with the Partnership's previous expectations and payable on May 15, 2024. The company will report its first-quarter 2024 results on May 8, 2024, followed by a conference call on May 9, 2024, to discuss the quarterly performance.
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Western Midstream Partners, LP (WES) announces post-earnings interview and participation in investor conferences. Kristen Shults, Senior VP and CFO, to discuss Q4 2023 results and 2024 guidance.
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Western Midstream Partners, LP (WES) plans a 52% base distribution increase, divesting non-core assets for $790 million, with a multiple of 9.6 times 2023 Adjusted EBITDA. The 2024 guidance includes Adjusted EBITDA of $2.2-2.4 billion, total capex of $700-850 million, and Free cash flow of $1.05-1.25 billion, with a Base Distribution of at least $3.20 per unit. Management aims to increase the Base Distribution by $0.30 per unit quarterly, starting in Q1 2024.
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Western Midstream Partners, LP (WES) reported strong financial and operational results for the fourth quarter and full year of 2023. The company achieved record natural-gas throughput and gathered record crude-oil and NGLs throughput. WES also announced successful acquisitions and capital returns to unitholders. Despite positive results, the company reported negative free cash flow after distributions for both the fourth quarter and full year of 2023.
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Western Midstream Partners, LP (WES) clarifies recent news coverage about a potential sales process. WES has not initiated a sales process or engaged advisors for this purpose. Occidental Petroleum Corporation (Oxy) has shown interest in divesting assets, but details on the assets are unknown.
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Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.5750 per unit for the fourth quarter of 2023, payable on February 13, 2024. The Partnership also plans to report its fourth-quarter 2023 results on February 21, 2024, with a conference call scheduled for February 22, 2024. The full text of the release will be available on the Partnership's website. Participants can access the live audio webcast and a replay of the conference call on the website.
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Western Midstream Partners, LP (NYSE: WES) announced its participation in the 2024 UBS Global Energy & Utilities Conference. The management team will be present at the event in Park City, Utah on January 9, 2024. The latest earnings call presentation is available on the partnership's website.
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Western Midstream Partners, LP (NYSE: WES) announced that it will release a post-earnings interview with Kristen Shults, CFO, and Jon Greenberg, VP of Corporate Development, on its website. The partnership will also participate in several investor conferences in the fourth quarter of 2023.
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Western Midstream Partners, LP (WES) reported a net income of $270.8 million and adjusted EBITDA of $510.9 million for the third quarter of 2023. Cash flows provided by operating activities were $394.8 million, and free cash flow was $200.4 million. The company announced a 2.2% increase in the base distribution to $0.5750 per unit. They also repurchased 5.1 million common units from Occidental Petroleum Corporation for $127.5 million, reducing Oxy's ownership interest in WES to below 50%. They executed an agreement with a large Delaware Basin customer to increase dedicated acreage and extend the initial term through 2035.
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FAQ

What is the current stock price of Western Midstream Partners, LP (WES)?

The current stock price of Western Midstream Partners, LP (WES) is $36.995 as of November 4, 2024.

What is the market cap of Western Midstream Partners, LP (WES)?

The market cap of Western Midstream Partners, LP (WES) is approximately 14.0B.

What does Western Midstream Partners, LP do?

Western Midstream Partners, LP specializes in gathering, processing, compressing, treating, and transporting natural gas, condensate, NGLs, and crude oil across various regions in the US.

Where are Western Midstream’s operations located?

Western Midstream’s operations are located in the Rocky Mountains, Mid-Continent, North-Central Pennsylvania, and Texas.

How did Western Midstream perform financially in 2023?

In 2023, Western Midstream reported a net income attributable to limited partners of $998.5 million and an adjusted EBITDA of $2.069 billion.

Has Western Midstream increased its distribution recently?

Yes, for the first quarter of 2024, Western Midstream increased its quarterly cash distribution to $0.8750 per unit, a 52% increase from the prior quarter.

What are Western Midstream’s recent strategic moves?

Western Midstream has been making strategic divestitures of non-core assets, generating $790 million in proceeds to enhance their core operated assets.

What type of contracts protect Western Midstream's cash flows?

Western Midstream’s cash flows are largely protected from commodity price volatility through fee-based contracts.

What is Western Midstream’s approach to non-core assets?

Western Midstream is focusing on divesting non-core, non-operated assets to redeploy capital into their core operated asset base, driving growth and operational efficiencies.

How does Western Midstream contribute to the energy supply chain?

Western Midstream plays a critical role in the energy supply chain by ensuring the efficient gathering, processing, stabilizing, and transportation of various energy resources.

What is the significance of the Delaware Basin for Western Midstream?

The Delaware Basin is a key growth area for Western Midstream, with significant throughput increases and planned expansions to enhance processing capacity.

Where can I find more information about Western Midstream Partners?

For more information, visit the official Western Midstream Partners website at www.westernmidstream.com.

Western Midstream Partners, LP

NYSE:WES

WES Rankings

WES Stock Data

14.01B
380.51M
0.3%
83.36%
1.06%
Oil & Gas Midstream
Natural Gas Transmission
Link
United States of America
THE WOODLANDS