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 reports news on a master limited partnership that develops, acquires, owns, and operates midstream energy assets in Texas, New Mexico, Colorado, Utah, and Wyoming. The partnership gathers, compresses, treats, processes, and transports natural gas; gathers, stabilizes, and transports condensate, NGLs, and crude oil; and provides produced-water gathering, transportation, recycling, treatment, and disposal services.
Recurring WES updates cover operating and financial results, throughput trends, capital spending, distributable cash flow, quarterly common-unit distributions, and management commentary after earnings. Company news also includes midstream contract amendments, common-unit and capital-structure actions, investor-conference participation, and produced-water expansion following the completed Aris Water Solutions acquisition.
Western Midstream Partners (NYSE: WES) has announced major infrastructure developments and 2025 guidance. The company has sanctioned the construction of the Pathfinder pipeline, a 42-mile, 30-inch steel pipeline capable of transporting over 800 MBbls/d of produced water in the Delaware Basin.
Key highlights include:
- New agreement with Occidental Petroleum for up to 280 MBbls/d of firm gathering and transportation capacity
- 2025 Adjusted EBITDA guidance of $2.350-2.550 billion (5% increase from 2024)
- Capital expenditures guidance of $625.0-775.0 million
- Free Cash Flow guidance of $1.275-1.475 billion
- Planned Base Distribution increase to $0.910 per unit ($3.64 annualized)
The $400-450 million infrastructure investment includes nine new saltwater disposal facilities and is expected to be operational by January 1, 2027.
Western Midstream Partners (WES) has declared a quarterly cash distribution of $0.8750 per unit for Q4 2024, maintaining the same Base Distribution as the previous quarter. This represents $3.50 on an annualized basis. The distribution will be paid on February 14, 2025, to unitholders of record as of February 3, 2025.
The Partnership has scheduled its fourth-quarter and full-year 2024 earnings release for February 26, 2025, after market close, followed by a conference call on February 27, 2025, at 1:00 p.m. Central time to discuss the results.
Western Midstream Partners (NYSE: WES) announced that it will release a post-earnings interview featuring CEO Oscar Brown and CFO Kristen Shults, available on its website on November 12, 2024. This interview will provide further insights into the company's third-quarter results. Additionally, WES will participate in several upcoming investor conferences:
- BofA Securities Global Energy Conference in Houston, TX on November 12, 2024
- Wells Fargo 23rd Annual Midstream & Utilities Symposium in New York, NY on December 10-11, 2024
- UBS Global Energy & Utilities Conference in Park City, UT on January 13-14, 2025
Western Midstream Partners (NYSE: WES) reported third-quarter 2024 results with net income of $281.8 million and Adjusted EBITDA of $566.9 million. The company generated $551.3 million in operating cash flow and $365.1 million in free cash flow. A base distribution of $0.875 per unit was announced, consistent with the previous quarter. Record throughput was achieved in the Delaware Basin and Powder River Basin. The company issued $800 million in senior notes and plans to repay 2025 notes. Despite strong operational performance, profitability declined due to lower commodity prices and higher expenses. Fourth-quarter guidance includes increased Adjusted EBITDA and steady throughput growth. Western Midstream's leverage ratio met the year-end target of 3.0 times, supporting future capital allocation strategies.
Western Midstream Partners (NYSE: WES) has appointed Oscar K. Brown as President and CEO, replacing Michael Ure who is stepping down after five years of leadership. Brown, an independent director since 2019 with over 30 years of energy sector experience, will remain on the Board. Under Ure's tenure, WES achieved significant organic growth in the Delaware Basin, expanded in the Powder River Basin through the Meritage Midstream acquisition, and returned approximately $4.6 billion to unitholders. The Partnership reaffirmed its 2024 guidance, expecting Adjusted EBITDA of $2.2-2.4 billion and Free Cash Flow of $1.05-1.25 billion, with results anticipated toward the higher end of these ranges.
Western Midstream Partners, LP (NYSE: WES) has announced its third-quarter 2024 distribution and earnings conference call details. The board of directors declared a quarterly cash distribution of $0.8750 per unit, maintaining the same level as the previous quarter. This equates to $3.50 on an annualized basis. The distribution is payable on November 14, 2024, to unitholders of record as of November 1, 2024.
WES will report its Q3 2024 results after market close on November 6, 2024. A conference call is scheduled for November 7, 2024, at 1:00 p.m. Central to discuss the quarterly results. Investors can dial in using the number 800-836-8184 (US) or 646-357-8785 (International). A live audio webcast and replay will be available on the company's website.
Western Midstream Partners (NYSE: WES) has announced a post-earnings interview with CFO Kristen Shults and COO Danny Holderman, to be made available on their website on August 20, 2024. The interview aims to provide additional insights into the company's second-quarter 2024 results. Additionally, WES has disclosed its participation in several investor conferences during the third quarter of 2024, including:
- Barclays CEO Energy Conference (Sept. 4)
- MUFG Oil & Gas Conference (Sept. 5)
- NYSE Energy & Utilities Virtual Investor Access Day (Sept. 10)
- Wolfe Research Utilities, Midstream & Clean Energy Conference (Oct. 2)
- Citadel Securities Energy Investor Days (Oct. 3)
These events provide opportunities for investors to gain further insights into WES's operations and strategy.
Western Midstream Partners, LP (NYSE: WES) announced that its subsidiary, Western Midstream Operating, LP, has priced an offering of $800 million in 5.45% senior notes due 2034 at 99.743% of face value. The offering is expected to close on August 20, 2024. Net proceeds will be used to repay a portion of maturing 3.100% and 3.950% Senior Notes due 2025 and for general partnership purposes, including funding capital expenditures. The offering is being managed by TD Securities (USA) , BofA Securities, Inc., MUFG Securities Americas Inc., and PNC Capital Markets . It will be made through a prospectus and related supplement, with copies available from the joint book-running managers or the SEC's website.
Western Midstream Partners, LP (NYSE: WES) has announced the pricing of a secondary public offering of 19,000,000 common units by affiliates of Occidental (NYSE: OXY). The offering is expected to raise $685.9 million in gross proceeds and close on August 14, 2024. Barclays, the sole book-running manager, has been granted a 30-day option to purchase up to 2,850,000 additional units. WES will not receive any proceeds from the sale as it is not selling any units in this offering. The offering is being made through a prospectus supplement and base prospectus, part of a shelf registration statement that became effective on March 30, 2023.
Western Midstream Partners, LP (NYSE: WES) has announced a secondary public offering of 19,000,000 common units by affiliates of Occidental (NYSE: OXY). The Selling Unitholders are granting Barclays, the sole underwriter, a 30-day option to purchase up to 2,850,000 additional units. WES is not selling any units and will not receive proceeds from the offering. The offering is subject to market conditions and there's no guarantee of completion. It will be made through a prospectus supplement and base prospectus, part of a shelf registration statement effective March 30, 2023. Barclays Capital Inc. is managing the offering, with materials available through them or the SEC website.