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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, LP (NYSE: WES) announced a quarterly cash distribution of $0.856 per unit for Q1 2023. This includes a Base Distribution of $0.500 per unit and an Enhanced Distribution of $0.356 based on 2022 financial performance. The distribution is set for May 15, 2023, to unitholders of record by May 1, 2023.
The company will report its first-quarter results after market close on May 3, 2023, followed by a conference call on May 4, 2023, at 1 p.m. CDT to discuss the results.
Western Midstream Partners, LP (NYSE: WES) has announced the pricing of a $750 million offering of 6.150% senior notes due in 2033. The notes are priced at 99.728% of their face value and the offering is expected to close on April 4, 2023, pending customary conditions. Net proceeds will be utilized to repay borrowings from WES Operating's revolving credit facility and for general partnership purposes. The offering is managed by TD Securities, MUFG Securities, and Wells Fargo Securities. This announcement follows the effectiveness of a shelf registration statement on March 30, 2023.
Western Midstream Partners, LP (NYSE: WES) has announced the release of a post-earnings interview with CFO Kristen Shults, providing insights on Q4 and full-year 2022 results. The interview is accessible on their website. Additionally, Shults and Investor Relations Director Daniel Jenkins will participate in several upcoming conferences: the Morgan Stanley Energy and Power Conference on March 1, 2023, Barclay's Investment Grade Energy and Pipeline Days on March 2, 2023, and the Mizuho Energy Summit on March 13, 2023. These events will offer opportunities for one-on-one and group discussions with investors.
Western Midstream Partners, LP (WES) reported strong financial results for Q4 and full-year 2022, with a net income of $328.6 million for Q4 and $1.190 billion for the full year. Adjusted EBITDA for 2022 totaled $2.128 billion, exceeding guidance. WES achieved a year-end net leverage ratio of 3.1 times and announced a quarterly Base Distribution of $0.50 per unit, correlating to an annualized $2.00 per unit for 2023. The company projects 2023 Adjusted EBITDA between $2.050 billion and $2.150 billion. An Enhanced Distribution of $140 million is anticipated, pending board approval. The firm expects to maintain strong free cash flow despite increasing capital expenditures.
Western Midstream Partners, LP (NYSE: WES) announced a quarterly cash distribution of $0.50 per unit for Q4 2022, consistent with the prior quarter and aligning with its annualized target of $2.00 per unit. This distribution will be payable on February 13, 2023, to unitholders on record by February 1, 2023. The Partnership will report its Q4 and full-year 2022 results on February 22, 2023, followed by a conference call on February 23, 2023, at 1 p.m. CST. This announcement reflects WES's ongoing commitment to maintaining distributions amidst market fluctuations.
Western Midstream Partners, LP (NYSE: WES) will host a post-earnings interview on November 9, 2022, featuring CFO Kristen Shults and VP Jon Greenberg, to discuss Q3 results. They will also participate in the RBC Midstream Conference on November 16, 2022, and the Wells Fargo Symposium on December 7, 2022. Additionally, they will join the UBS Winter Conference from January 9 to 11, 2023. WES is engaged in natural gas and liquids processing and transportation across various US regions.
Western Midstream Partners, LP (WES) reported a third-quarter 2022 net income attributable to limited partners of $259.5 million, or $0.67 per common unit. The company achieved Adjusted EBITDA of $524.8 million and Free cash flow of $330.4 million. Highlights included record natural-gas throughput of 1.54 Bcf/d and produced-water throughput of 895 MBbls/d. WES executed amendments to agreements with Occidental and increased its unit repurchase program to $1.25 billion. The third-quarter distribution remains at $0.50 per unit, consistent with the previous quarter.
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