WESTERN MIDSTREAM ANNOUNCES APPOINTMENT OF ROBERT G. PHILLIPS AS INDEPENDENT DIRECTOR

Rhea-AI Summary

Western Midstream Partners (NYSE: WES) has appointed Robert G. Phillips as an independent member of its general partner's board of directors. Phillips brings over 47 years of midstream industry experience, having recently retired as Founder, Chairman, and CEO of Crestwood Equity Partners following its merger with Energy Transfer LP in 2023. Under his leadership, Crestwood grew to over $7.1 billion in enterprise value through organic growth and M&A activities.

Phillips will serve on the board's Compensation Committee and Special Committee. His appointment brings the total board membership to eight, with four independent directors. Phillips currently serves as an independent director at South Bow Corporation and Enstor Inc., and previously co-chaired the ESG Committee of the Energy Infrastructure Council.

Positive

• Addition of highly experienced industry veteran with 47 years of midstream expertise
• Proven track record of successful M&A and value creation (grew Crestwood to $7.1B enterprise value)
• Strengthened board independence with 4 out of 8 directors now independent
• Brings valuable ESG expertise from co-chairing Energy Infrastructure Council's ESG Committee

Negative

• None.

News Market Reaction – WES

-1.27%

1 alert

-1.27% News Effect

On the day this news was published, WES declined 1.27%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, May 5, 2025 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that Robert G. (Bob) Phillips has been appointed as an independent member of its general partner's board of directors. Mr. Phillips brings more than 47 years of experience and leadership in the midstream industry to the board, having recently retired as the Founder, Chairman, and Chief Executive Officer of Crestwood Equity Partners LP ("Crestwood") following its successful merger with Energy Transfer LP in November 2023.

Mr. Phillips founded Crestwood in 2010 and over the next 13 years, led the growth of the company to greater than $7.1 billion in enterprise value through a combination of organic growth and M&A activity including successful mergers with Oasis Midstream Partners LP, and Inergy Midstream L.P., as well as the acquisitions of several strategic midstream companies across various shale plays. Prior to forming Crestwood, Mr. Phillips served as President and Chief Executive Officer of Enterprise Products Partners L.P., Chairman and Chief Executive Officer of GulfTerra Energy Partners, L.P. (formerly El Paso Energy Partners LP), and as Chairman, President and Chief Executive Officer of Eastex Energy, Inc.

Mr. Phillips currently serves as an independent director of South Bow Corporation, which specializes in transporting Canadian crude oil production to refining markets in the US Midwest and Gulf Coast, and as a director of Enstor Inc., the largest privately owned natural gas storage company in the United States. Mr. Phillips previously served on the board of directors of the Energy Infrastructure Council since its inception in 2019, and he co-chaired the ESG Committee which focused on the development and implementation of industry-wide Sustainability Standards across the midstream sector.

"We are delighted to welcome Bob Phillips to our board of directors," said Oscar Brown, President and Chief Executive Officer of WES. "His extensive industry expertise and proven leadership will be instrumental as we continue to execute on our strategy of capital-efficient growth that creates long-term value for all of the stakeholders of WES."

"WES is tremendously fortunate to have a candidate with Bob's background join the board," commented Jeff Bennett, Chairman of the general partner's board of directors. "We are confident that Bob will be a valuable addition to our already exceptionally talented group of directors and bring beneficial perspectives as we continue to deliver on our mission of improving lives through safe, sustainable, and efficient energy delivery."

Mr. Phillips added, "It is a privilege to join the board of directors of WES's general partner, and I look forward to collaborating with the team to continue building upon WES's strong foundation and to help successfully guide the partnership for years to come."

Mr. Phillips will serve on the board's Compensation Committee and Special Committee. With his addition, the board of directors of WES's general partner will have eight members, four of which are independent.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP ("WES") is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With midstream assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells natural gas, natural-gas liquids, and condensate on behalf of itself and its customers under certain gas processing contracts. A substantial majority of WES's cash flows are protected from direct exposure to commodity price volatility through fee-based contracts.

For more information about WES, please visit www.westernmidstream.com.

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

Who is Robert G. Phillips and why did WES appoint him to their board?

Robert G. Phillips is a veteran midstream industry leader with 47 years of experience, formerly the Founder, Chairman, and CEO of Crestwood Equity Partners. WES appointed him for his extensive industry expertise and proven leadership in growing midstream companies.

What committees will Robert Phillips serve on at Western Midstream (WES)?

Robert Phillips will serve on Western Midstream's Compensation Committee and Special Committee.

How many independent directors does Western Midstream (WES) now have?

With Robert Phillips' appointment, Western Midstream now has four independent directors out of a total of eight board members.

What was Robert Phillips' major achievement at Crestwood Equity Partners?

At Crestwood, Phillips led the company's growth from its founding in 2010 to achieving over $7.1 billion in enterprise value through organic growth and strategic M&A activities, including successful mergers with Oasis Midstream Partners and Inergy Midstream.

What other board positions does Robert Phillips currently hold?

Robert Phillips currently serves as an independent director of South Bow Corporation and as a director of Enstor Inc., the largest privately owned natural gas storage company in the United States.