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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 (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.

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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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Western Midstream Partners, LP (NYSE: WES) announced on August 12, 2021, a cash tender offer to purchase up to $500 million in senior notes. This tender offer includes several series of notes, with specific acceptance priority levels and a maximum sub-cap of $400 million for the 3.950% and 3.100% Senior Notes due 2025. The offers will expire on September 9, 2021, with an early tender deadline of August 25, 2021. The Partnership aims to fund the offers through cash on hand and credit facility borrowings to retire debt.

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Western Midstream Partners, LP (WES) reported strong financial results for Q2 2021, with net income available to limited partners at $226.3 million, equivalent to $0.55 per common unit (diluted). Adjusted EBITDA reached $491.1 million, alongside operating cash flows of $452.1 million and a free cash flow of $379.8 million. The Partnership achieved record gas throughput of 1.4 Bcf/d, a 5% increase from the previous quarter. They also initiated a long-term gas gathering agreement with Crestone Peak Resources. WES plans to increase capital expenditure expected for 2021, reaffirming an annual distribution growth of 5%, now at $0.319 per unit.

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Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.319 per unit for Q2 2021, reflecting a 1.3% increase from the previous quarter and aligning with a 5% annualized growth. This distribution will be paid on August 13, 2021, to unitholders of record by July 30, 2021. The company will report its second-quarter results on August 9, 2021, and host a conference call to discuss the results on August 10, 2021 at 1 p.m. CDT.

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Western Midstream Partners, LP (WES) will host a post-earnings interview on May 17, 2021, featuring CEO Michael Ure, providing insights into first-quarter performance. The company will also participate in the 2021 Energy Infrastructure Council Investor Conference on May 19-20, and the UBS Global Oil and Gas Virtual Conference on May 25, 2021. WES focuses on midstream asset operations, including gathering and transporting natural gas and crude oil across key regions like Texas and Pennsylvania.

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Western Midstream Partners, LP (WES) reported first-quarter 2021 financial results with a net income of $181.8 million, equating to $0.44 per common unit. The Partnership achieved Adjusted EBITDA of $443.1 million and cash flows from operating activities of $261.6 million. Notably, WES repaid $431 million of Senior Notes and repurchased over 1.1 million common units. Additionally, a distribution of $0.315 per unit was declared, marking a 1.3% increase from the previous quarter. Despite challenges from Winter Storm Uri, management remains optimistic about throughput and EBITDA growth in 2021.

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Western Midstream Partners, LP (NYSE: WES) declared a quarterly cash distribution of $0.315 per unit for Q1 2021, representing a 1.3% increase over the previous quarter. This aligns with a projected 5% annualized growth rate. The distribution is payable on May 14, 2021, to unitholders of record by April 30, 2021. CEO Michael Ure emphasized improved financial flexibility and a commitment to debt repayment and stakeholder value. Additionally, WES continues its buyback program with $250 million authorization through December 31, 2021.

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Western Midstream Partners, LP (NYSE: WES) has priced an underwritten secondary public offering of 10 million common units, up from an expected 8 million, generating gross proceeds of $173.5 million. The offering is set to close on March 25, 2021, pending customary conditions. An option for underwriters to purchase an additional 1.5 million units is also included. WES will not receive proceeds from this offering as it is conducted by an affiliate of Occidental Petroleum, and no units are being sold by WES itself.

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Western Midstream Partners, LP (NYSE: WES) has announced a secondary public offering of 8,000,000 common units by an affiliate of Occidental Petroleum Corporation. The underwriter, BofA Securities, has a 30-day option to purchase an additional 1,200,000 units. WES will not receive any proceeds from this offering. The offering is subject to market conditions and the completion date is uncertain. Interested parties can obtain more information through the prospectus supplement and base prospectus available at the SEC's website.

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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