Welcome to our dedicated page for Western Midstream Partners Lp SEC filings (Ticker: WES), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Western Midstream Partners, LP (WES) SEC filings page on Stock Titan provides access to the partnership’s regulatory disclosures, including current reports, registration statements, and other documents filed with the U.S. Securities and Exchange Commission. These filings offer detailed information on WES’s midstream operations, financing activities, and significant transactions.
Recent Form 8-K filings illustrate how WES uses SEC reports to document material events. An 8-K dated October 15, 2025, describes the completion of WES’s transaction with Aris Water Solutions, Inc., outlining the merger structure, the forms of consideration available to Aris securityholders, and the total cash and common units issued. Another 8-K dated December 4, 2025, details the issuance by Western Midstream Operating, LP of 4.800% Senior Notes due 2031 and 5.500% Senior Notes due 2035, including key terms of the notes, the governing indenture, and the intended use of proceeds.
Additional 8-K filings cover topics such as results of operations and financial condition, where WES furnishes press releases announcing quarterly results and references slide presentations made available on its website. Other filings describe entry into material definitive agreements, including the Agreement and Plan of Merger with Aris and related support agreements, as well as amendments to partnership and financing arrangements.
On this page, Stock Titan pairs WES’s raw SEC documents with AI-powered summaries that explain the main points of each filing in plain language. Users can quickly see how new senior notes affect the capital structure, how mergers and acquisitions are structured, and what key terms appear in indentures and merger agreements. Real-time updates from EDGAR, combined with simplified explanations of forms such as 8-K and registration statements, help investors and researchers understand Western Midstream’s regulatory disclosures without reading every page of each filing.
Western Midstream Partners LP is reported in an amended Schedule 13G/A showing sizeable passive holdings as of 03/31/2026. ALPS Advisors, Inc. reports shared voting and dispositive power over 38,637,354 common units (9.82%). Alerian MLP ETF reports shared voting and dispositive power over 38,126,346 common units (9.68%). The filing states these shares are owned by investment funds advised by ALPS Advisors, and ALPS Advisors disclaims beneficial ownership of the securities it advises.
Western Midstream Partners, LP director buys additional units and reports phantom units. Director Robert G. Phillips purchased 1,250 Common Units representing limited partner interests in an open-market transaction at $40.19 per unit, bringing his directly held Common Units to 5,296.
He also reports 3,778 Phantom Units that are economically equivalent to Common Units. Upon vesting on February 12, 2027, each Phantom Unit will entitle him to receive either one Common Unit or cash equal to the fair market value of a Common Unit, at the Board’s discretion.
Western Midstream Partners, LP insider activity: SVP, General Counsel and Secretary Christopher B. Dial reported a tax-related share disposition under an amended insider filing. On February 12, 2026, he disposed of 5,879 common units representing limited partner interests at $42.35 per unit to cover tax withholding obligations, rather than through an open-market sale. After this transaction, he directly owned 225,015 common units. A footnote clarifies that the original transaction code was mistakenly reported as a sale and has been corrected to reflect tax-withholding treatment.
Western Midstream Partners, LP and its subsidiary Western Midstream Operating, LP provide midstream services across Texas, New Mexico, Colorado, Utah, and Wyoming, focusing on natural-gas gathering and processing, crude-oil and NGLs handling, and produced-water management.
The partnership reports extensive infrastructure, including 14,910 miles of pipeline, 5,780 MMcf/d of gas processing and treating capacity, and 6,304 MBbls/d of liquids and water capacity as of December 31, 2025. It operates largely under fee-based contracts with significant minimum-volume commitments to stabilize cash flows.
In 2025, Western Midstream closed a $2.0 billion acquisition of Aris, adding 830 miles of produced-water pipeline, 1,812 MBbls/d of produced-water handling, and 1,560 MBbls/d of recycling capacity, plus 625,000 dedicated acres. The filing highlights a 2025 Purchase Program authorizing up to $250.0 million of unit buybacks and outlines growth projects like North Loving Train II and the Pathfinder produced-water pipeline.
The business remains closely tied to Occidental Petroleum, which owned 39.7% of limited partner interests and supplied 60% of total revenues and the vast majority of crude-oil and produced-water throughput in 2025, creating both strategic advantages and customer-concentration risk.
Western Midstream Partners reported record fourth-quarter and full-year 2025 results, highlighting strong cash generation and growth from its Delaware Basin assets and the Aris Water Solutions acquisition. Fourth-quarter 2025 net income attributable to limited partners was $187.2 million, with record Adjusted EBITDA of $635.6 million, despite a $29.5 million non-cash revenue adjustment.
For full-year 2025, net income attributable to limited partners reached $1.154 billion and Adjusted EBITDA was a record $2.481 billion, up 6% year over year and above the midpoint of guidance. Cash flows provided by operating activities were $2.223 billion, driving Free Cash Flow of $1.526 billion, a 15% increase and above the high end of guidance.
The partnership returned $1.431 billion to unitholders in 2025 and paid a fourth-quarter distribution of $0.910 per unit. For 2026, it guides Adjusted EBITDA of $2.5–$2.7 billion, Distributable Cash Flow of $1.85–$2.05 billion, capital expenditures of $850 million–$1.0 billion, and plans a quarterly distribution increase to $0.93 per unit.
Western Midstream Partners’ President and CEO Oscar K. Brown reported multiple equity compensation transactions. On 02/12/2026, he exercised 24,022 2025 Phantom Units into an equal number of common units at $0 per unit and had 10,510 common units withheld at $42.35 per unit to cover tax obligations, leaving 85,440 common units held directly.
Brown also received new long-term incentives: 94,451 2026 Phantom Units and 47,226 each of 2026 Performance Unit - TUR and 2026 Performance Unit - ROA, all at $0 exercise or grant price. Each Phantom Unit is economically equivalent to one common unit and vests ratably over three years, while performance units can settle in 0–200% of one common unit (or cash equivalent) based on three-year performance metrics.
Western Midstream Partners director David J. Schulte reported equity-based compensation transactions involving phantom units and common units. On February 12, 2026, he received a grant of 3,778 phantom units at $0, which are scheduled to vest on February 12, 2027 and are economically equivalent to common units.
On the same date, he exercised 3,843 phantom units at $0, converting them into 3,843 common units representing limited partner interests. After these transactions, he directly held 40,072 common units of Western Midstream Partners.
Forthuber Frederick A. reported acquisition or exercise transactions in this Form 4 filing.
Western Midstream Partners director Frederick A. Forthuber reported an equity-based compensation award in the form of 3,778 Phantom Units on February 12, 2026. These Phantom Units are derivative securities that mirror the value of common units representing limited partner interests.
Each Phantom Unit is the economic equivalent of one WES common unit. After they vest, the holder will receive either one common unit per Phantom Unit or, at the general partner’s board’s discretion, cash equal to the fair market value of a common unit. Following this grant, Forthuber directly holds 3,778 Phantom Units.
Western Midstream Partners director Lisa A. Stewart reported compensation-related unit activity. On February 12, 2026, she exercised 3,843 Phantom Units for 3,843 Common Units at a price of $0 per unit, and now directly holds 39,772 Common Units.
That same day, she received a new award of 3,778 Phantom Units, also at $0 per unit, which are scheduled to vest on February 12, 2027. Each Phantom Unit is economically equivalent to one WES common unit and, upon vesting, can settle in common units or cash at the board’s discretion.
Western Midstream Partners director Robert G. Phillips reported equity-based compensation activity involving phantom units and common units. On February 12, 2026, he exercised 4,046 phantom units at $0 per unit, receiving 4,046 common units representing limited partner interests, all held directly.
That same day, he was granted 3,778 new phantom units at $0 per unit, which will vest on February 12, 2027. Each phantom unit is economically equivalent to one WES common unit and, upon vesting, may be settled in common units or cash at the board’s discretion.