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.
Western Midstream Partners, LP (NYSE: WES) announces participation in key industry conferences. Michael Ure, CEO, will engage in a Q&A session at the Credit Suisse Energy Summit on March 1, 2021, at 3:20 p.m. EST, with a live webcast available on the company's website. On March 2, Craig Collins and Charles Griffie will have one-on-one sessions at the Morgan Stanley Conference. Scott Peterson will participate at the J.P. Morgan Conference on March 3. Additionally, an interview with Michael Ure discussing Q4 results will be published on March 3 after market close.
Western Midstream Partners (WES) reported robust fourth-quarter and full-year 2020 results. Q4 net income was $258.2 million, with diluted earnings of $0.62 per unit and Adjusted EBITDA of $484 million. For the full year, net income reached $515.9 million, with Adjusted EBITDA totaling $2 billion. The company maintained system availability above 99% and executed a significant unit repurchase program. Despite challenges from the pandemic, WES reduced capital expenditures by nearly 50% from guidance, achieving $1.2 billion in free cash flow after distributions. 2021 outlook remains strong with Adjusted EBITDA guidance of $1.825-$1.925 billion.
Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.311 per unit for Q4 2020, payable on February 12, 2021. Unitholders of record as of February 1, 2021 will receive this distribution. The Partnership will report its Q4 and full-year results on February 23, 2021, followed by a conference call on February 24, 2021, at 1 p.m. CST. WES engages in midstream activities across several U.S. regions, including natural gas processing and crude oil transportation.
Western Midstream Partners, LP (NYSE: WES) will have its CEO Michael Ure participate in the Wells Fargo Midstream and Utilities Symposium on December 8, 2020. Following this, Ure will engage in one-on-one sessions at the Capital One Securities 15th Annual Energy Conference on December 9, 2020. A replay of the Wells Fargo session will be accessible on the company’s website post-event. WES operates midstream assets across several states, focusing on natural gas and liquid transportation.
Western Midstream Partners, LP (NYSE: WES) announces that CEO Michael Ure will participate in a Q&A session at the RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference on November 18, 2020, at 10:40 a.m. EST. To provide insights into third-quarter results, an interview will be available on the company's website after the market close on November 17, 2020. WES specializes in midstream services, including the gathering and processing of natural gas and crude oil across various locations in the U.S.
Western Midstream Partners (WES) reported strong third-quarter 2020 results with a net income of $241.5 million ($0.55 per unit) and record Adjusted EBITDA of $518.4 million. The company initiated operations on Loving ROTF Train IV, enhancing capacity and cutting project costs by 35%. WES also executed buybacks of Senior Notes and sold its equity interest in Fort Union Gas Gathering for $27 million. Preliminary guidance for 2021 includes an Adjusted EBITDA range of $1.825 to $1.925 billion and a $250 million unit buyback program. Free cash flow post-distribution totaled $198.3 million.
Western Midstream Partners, LP (NYSE: WES) announced a quarterly cash distribution of $0.311 per unit for the third quarter of 2020. This distribution will be payable on November 13, 2020, to unitholders of record by the close of business on October 30, 2020. WES plans to report its third-quarter results after market close on November 9, followed by a conference call on November 10 at 1 p.m. CST. WES operates midstream assets across various U.S. regions, focusing on the transportation and processing of natural gas and other hydrocarbons.
Western Midstream Partners, LP (NYSE: WES) announced significant changes to its Board of Directors, reducing its size from eleven to eight members. New independent directors Kenneth F. Owen, David J. Schulte, and Lisa A. Stewart were appointed. The company expressed gratitude to departing members for their contributions amidst recent industry challenges. Additionally, Michael C. Pearl stepped down as CFO, with Michael P. Ure assuming his responsibilities temporarily. Ure praised Pearl's impactful leadership since October 2019, contributing to WES's transition into a standalone enterprise.
Western Midstream Partners (NYSE: WES) announced that CEO Michael Ure will participate in a Q&A session at the Bank of America Fall Virtual Energy Summit on August 26, 2020, at 12:00 p.m. EDT. To provide further insights on second-quarter results, an interview with Ure will be posted on the company's website on August 24, 2020. Western Midstream is involved in acquiring and operating midstream assets across various locations, including Texas and New Mexico, focusing on natural gas, liquids, and crude oil services.
FAQ
What is the current stock price of Western Midstream Partners, LP (WES)?
What is the market cap of Western Midstream Partners, LP (WES)?
What does Western Midstream Partners, LP do?
Where are Western Midstream’s operations located?
How did Western Midstream perform financially in 2023?
Has Western Midstream increased its distribution recently?
What are Western Midstream’s recent strategic moves?
What type of contracts protect Western Midstream's cash flows?
What is Western Midstream’s approach to non-core assets?
How does Western Midstream contribute to the energy supply chain?
What is the significance of the Delaware Basin for Western Midstream?
Where can I find more information about Western Midstream Partners?
