Western Midstream Announces Second-Quarter 2021 Distribution Increase And Earnings Conference Call

Rhea-AI Summary

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.

Positive

• Quarterly cash distribution rose by 1.3% over Q1 2021; annualized growth at 5%.

Negative

• None.

HOUSTON, July 20, 2021 /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 of $0.319 per unit for the second quarter of 2021. This distribution represents a 1.3-percent increase over the prior quarter's distribution and is consistent with an annualized distribution growth of 5-percent. WES's second-quarter 2021 distribution is payable August 13, 2021, to unitholders of record at the close of business July 30, 2021.

The Partnership plans to report its second-quarter 2021 results after market close Monday, August 9, 2021. Management will host a conference call Tuesday, August 10, 2021, at 1 p.m. CDT (2 p.m. EDT) to discuss WES's quarterly results. The full text of the release announcing the results will be available on the Partnership's website at www.westernmidstream.com.

Second-Quarter 2021 Results
Tuesday, August 10, 2021
1 p.m. CDT (2 p.m. EDT)
Dial-in number: 877-883-0383
International dial-in number: 412-902-6506
Participant access code: 7589922

To participate in WES's scheduled second-quarter 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.

WESTERN MIDSTREAM CONTACT

Kristen Shults
Senior Vice President, Finance and Communications
Kristen.Shults@westernmidstream.com
832.636.6000

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SOURCE Western Midstream Partners, LP

FAQ

When will Western Midstream Partners announce its Q2 2021 earnings?

Western Midstream Partners will announce its Q2 2021 earnings after market close on August 9, 2021.

What is the cash distribution per unit for WES in Q2 2021?

The cash distribution for WES in Q2 2021 is $0.319 per unit.

When is the Q2 cash distribution payment date for WES?

The Q2 cash distribution payment date for WES is August 13, 2021.

What was the percentage increase in cash distribution for WES from the previous quarter?

The cash distribution for WES increased by 1.3% from the previous quarter.