WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER 2023 DISTRIBUTION AND EARNINGS CONFERENCE CALL

Rhea-AI Summary

Western Midstream Partners, LP (WES) announced a quarterly cash distribution of $0.5750 per unit for the fourth quarter of 2023, payable on February 13, 2024. The Partnership also plans to report its fourth-quarter 2023 results on February 21, 2024, with a conference call scheduled for February 22, 2024. The full text of the release will be available on the Partnership's website. Participants can access the live audio webcast and a replay of the conference call on the website.

HOUSTON, Jan. 22, 2024 /PRNewswire/ -- 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 ("Base Distribution") of $0.5750 per unit for the fourth quarter of 2023, or $2.30 on an annualized basis, which is in line with the prior quarters' distribution. WES's fourth-quarter 2023 Base Distribution is payable on February 13, 2024, to unitholders of record at the close of business on February 1, 2024.

The Partnership plans to report its fourth-quarter 2023 results after market close on Wednesday, February 21, 2024. Management will host a conference call on Thursday, February 22, 2024, at 1:00 p.m. CST (2:00 p.m. EST) to discuss the Partnership's quarterly results. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the call. The full text of the release announcing the results will be available on the Partnership's website at www.westernmidstream.com.

Fourth-Quarter 2023 Results
Thursday, February 22, 2024
1:00 p.m. CST (2:00 p.m. EST)
Dial-in number: 888-390-0546
International dial-in number: 617-892-4906

To participate in WES's scheduled fourth-quarter 2023 earnings call, please refer to the above-listed dial-in information. 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 will also 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 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; 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 Sections 1.1446-4(b) and 1.1446(f)-4. 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. Furthermore, one hundred percent (100.0%) of Western Midstream Partners, LP's distributions to non-U.S. investors is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(iii). Brokers and nominees are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors. The CUSIP number of Western Midstream Partners, LP's common units is 958669 103.

WESTERN MIDSTREAM CONTACTS

Daniel Jenkins
Director, Investor Relations                    
Investors@westernmidstream.com
866-512-3523

Rhianna Disch
Manager, Investor Relations
Investors@westernmidstream.com
866-512-3523

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SOURCE Western Midstream Partners, LP

FAQ

What is the quarterly cash distribution announced by WES for the fourth quarter of 2023?

The quarterly cash distribution announced by WES for the fourth quarter of 2023 is $0.5750 per unit.

When is the fourth-quarter 2023 Base Distribution payable?

The fourth-quarter 2023 Base Distribution is payable on February 13, 2024.

When will WES report its fourth-quarter 2023 results?

WES plans to report its fourth-quarter 2023 results after market close on Wednesday, February 21, 2024.

When is the conference call to discuss the Partnership's quarterly results scheduled?

The conference call to discuss the Partnership's quarterly results is scheduled for Thursday, February 22, 2024, at 1:00 p.m. CST (2:00 p.m. EST).

Where can participants access the full text of the release announcing the results?

Participants can access the full text of the release announcing the results on the Partnership's website at www.westernmidstream.com.