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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 (WES) reported strong fourth-quarter 2021 results, with a net income of $238.2 million, leading to a full-year net income of $896.5 million. The fourth-quarter Adjusted EBITDA reached $480.9 million, contributing to a total of $1.947 billion for the year, surpassing guidance. Cash flows from operations were $661.9 million, and Free cash flow was $576.5 million in Q4 2021. WES anticipates a 53% distribution increase for Q1 2022 and initiated a $1 billion unit repurchase program. For 2022, WES expects Adjusted EBITDA between $1.925 billion and $2.025 billion.
Western Midstream Partners (WES) has announced a quarterly cash distribution of
Western Midstream Partners, LP (NYSE: WES) announced that its COO, Craig Collins, and SVP of Finance and Communications, Kristen Shults, will engage in one-on-one sessions at the UBS Winter Infrastructure and Energy Conference on January 11-12, 2022. The partnership focuses on acquiring, owning, developing, and operating midstream assets across regions including the Rocky Mountains, Pennsylvania, Texas, and New Mexico. WES is involved in natural gas processing and transportation, condensate, NGLs, and crude oil handling, and produced water disposal.
Western Midstream Partners, LP (WES) announced significant changes in its board and management, effective December 17, 2021. Glenn Vangolen, the current chairman, will retire and be succeeded by Peter J. (Jeff) Bennett. Frederick A. Forthuber will join the board, bringing over 35 years of industry experience. Additionally, WES repurchased 2.5 million common units from Occidental for $50.2 million as part of a $250 million repurchase program. The repurchase was approved by the special committee of independent directors.
Western Midstream Partners, LP (WES) announced a post-earnings interview with CEO Michael Ure and CCO Robert Bourne to discuss Q3 results, available on their website before market opening on November 18, 2021. Ure will also present at the RBC Capital Markets Midstream and Energy Infrastructure Conference on November 16 and participate in sessions during the Capital One Securities Energy Conference on December 6-7. Additionally, Shults will attend the Wells Fargo Virtual Symposium on December 8, 2021.
Western Midstream Partners, LP (WES) reported strong third-quarter 2021 results with net income of $250.2 million ($0.61 per common unit) and an Adjusted EBITDA of $531.6 million. Cash flows from operations reached $391.3 million, generating a Free cash flow of $320.0 million. The company executed a successful debt tender offer, repaying $500 million in notes, lowering annualized borrowing costs by $20.6 million. A distribution of $0.323 per unit reflects a 1.3% increase from the prior quarter. However, natural gas and crude oil throughput showed a sequential decline of 4% and 7%, respectively.
Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.323 per unit for Q3 2021, reflecting a 1.3% increase from the prior quarter and supporting an annualized growth of 5%. This distribution is payable on November 12, 2021, to unitholders on record by November 1, 2021. The partnership plans to report its Q3 2021 results after market close on November 9, 2021, followed by a conference call on November 10 at 1 p.m. CST.
Western Midstream Partners, LP (WES) announced the early tender results of its cash tender offers, aimed at purchasing up to $500 million of outstanding senior notes. As of August 25, 2021, valid tenders were received for various series of notes, with the Maximum Principal Amount fully subscribed by specific notes, including 3.950% and 3.100% Senior Notes due in 2025. The Offers are set to expire on September 9, 2021. Note holders are entitled to receive a $30 early tender premium, and no 4.500% or 4.750% Senior Notes will be accepted for purchase.
Western Midstream Partners, LP (WES) announced a post-earnings interview with CEO Michael Ure to be available on its website after market close on August 16, 2021. This interview aims to provide insights into the company’s second-quarter results. Ure, along with COO Craig Collins, will participate in one-on-one sessions at the Citi 2021 One-on-One Midstream/Energy Infrastructure Virtual Conference on August 18-19, and Ure will also engage in a fireside chat at the Barclays CEO Energy-Power Conference on September 8, 2021.
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