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Western Midstream Partners, LP (NYSE: WES) announced a quarterly cash distribution of $0.50 per unit for Q1 2022, marking a significant 53% increase from the previous quarter. This aligns with the partnership's target of a $2.00 annualized base distribution. The distribution will be paid on May 13, 2022, to unitholders on record by May 2, 2022. The company will report Q1 results on May 10, 2022, followed by a conference call on May 11, 2022.
Positive
Declared quarterly cash distribution of $0.50 per unit.
53% increase over the prior quarter's distribution.
Consistent with the annualized base distribution target of $2.00 per unit.
Negative
None.
HOUSTON--(BUSINESS WIRE)--
Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that the board of directors of its general partner declared a quarterly cash distribution of $0.50 per unit for the first quarter of 2022. This distribution represents a 53-percent increase over the prior quarter’s distribution and is consistent with the partnership’s previously disclosed annualized regular quarterly distribution (“Base Distribution”) target of $2.00 per unit. WES’s first-quarter 2022 distribution is payable May 13, 2022, to unitholders of record at the close of business on May 2, 2022.
The Partnership plans to report its first-quarter 2022 results after market close on Tuesday, May 10, 2022. Management will host a conference call on Wednesday, May 11, 2022, at 2 p.m. CDT (3 p.m. EDT) to discuss the Partnership’s quarterly results. The full text of the release announcing the results will be available on the Partnership’s website at www.westernmidstream.com.
To participate in WES’s scheduled first-quarter 2022 earnings call, refer to the above-listed dial-in number and participant access code. To access the live audio webcast of the conference call, please visit the investor relations section of the Partnership’s website at www.westernmidstream.com. A replay of the conference call also will be available on the website following the call.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.
For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.
This news release contains forward-looking statements. WES and its general partner believe that their expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. These factors include our ability to meet distribution expectations and financial guidance; the timeline for a full recovery in commodity demand and prices; our ability to safely and efficiently operate WES’s assets; the supply of, demand for, and price of oil, natural gas, NGLs, and related products or services; our ability to meet projected in-service dates for capital-growth projects; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; and the other factors described in the “Risk Factors” section of WES’s most-recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission and other public filings and press releases. WES undertakes no obligation to publicly update or revise any forward-looking statements.
Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Midstream Partners, LP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Midstream Partners, LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
