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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) 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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Western Midstream Partners, LP announces a 2.2% increase in quarterly cash distribution for the third quarter of 2023
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Western Midstream Partners, LP (NYSE: WES) announces acquisition of Meritage Midstream Services II, LLC, funded with cash and recent $600 million investment grade senior notes issuance. The acquisition expands WES's asset footprint in the Powder River Basin and includes long-term contracts. Management plans to recommend a Base Distribution increase for Q3 2023.
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Western Midstream Partners, LP (WES) announced an offering of $600 million in senior notes due 2029. The offering is expected to close on September 29, 2023. Proceeds will be used for the pending acquisition of Meritage Midstream Services II, LLC. The offering is not contingent on the acquisition.
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WES to acquire Meritage Midstream Services in an all-cash transaction for $885 million, expanding Powder River Basin asset base and diversifying customer base.
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WES: Western Midstream Partners, LP Announces Post-Earnings Interview and Investor Conference Participation for Q3 2023
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Western Midstream Partners, LP (WES) has announced a 12.5% increase in its quarterly cash distribution for the second quarter of 2023. The new distribution is $0.5625 per unit, or $2.25 on an annualized basis. The company's expected 2023 Base Distribution guidance has also been raised to at least $2.1875 per unit. The distribution is payable on August 14, 2023, to unitholders of record as of July 31, 2023.
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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 $37.93 as of November 21, 2024.

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

The market cap of Western Midstream Partners, LP (WES) is approximately 14.4B.

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

14.35B
379.40M
0.3%
85.11%
1.45%
Oil & Gas Midstream
Natural Gas Transmission
Link
United States of America
THE WOODLANDS