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.
Western Midstream Partners, LP filings document the regulatory record for a master limited partnership that owns and operates midstream energy infrastructure. Recent Form 8-K reports include operating and financial results, earnings presentation materials, common-unit distribution disclosures, and guidance-related exhibits tied to the partnership's natural gas, crude oil, NGL, and produced-water systems.
The filings also cover material agreements, capital-structure transactions, and governance matters. Disclosures include senior-note offerings by Western Midstream Operating, LP, Delaware Basin gathering and processing contract amendments, common-unit redemption arrangements, ownership disclosures involving the general partner structure, and special committee review of related-party transactions.
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.
Western Midstream Partners senior vice president, general counsel and secretary Christopher B. Dial reported multiple equity transactions in common units and incentive awards. On February 12, 2026, he acquired common units through exercises of phantom and performance units, then sold 5,879 common units in an open-market transaction at $42.35 per unit.
Several additional common units were disposed of at $42.35 per unit to satisfy tax-withholding obligations tied to these equity awards. Dial also received new grants of derivative awards, including 32,468 2026 phantom units and 16,234 each of 2026 TUR and ROA performance units, which may settle in common units or cash upon future vesting and performance outcomes.
Western Midstream Partners director Kenneth F. Owen reported compensation-related unit activity involving phantom units and common units. On February 12, 2026, he exercised 3,843 phantom units into 3,843 common units representing limited partner interests at an exercise price of $0, bringing his directly held common units to 41,772.
On the same date, he received a new award of 3,778 phantom units at $0, which are scheduled to vest on February 12, 2027. Each phantom unit is economically equivalent to one WES common unit and, upon vesting, will deliver either a common unit or cash equal to its fair market value, at the general partner board’s discretion.
Western Midstream Partners SVP & COO Daniel P. Holderman reported a series of equity compensation events on February 12, 2026. Multiple phantom and performance unit awards were exercised into WES common units at $0 exercise price, with portions of the resulting units disposed of at $42.35 per unit to cover tax withholding. After these transactions, he directly owned 91,384 common units. He also received new derivative awards, including 35,419 2026 phantom units and 17,710 each of 2026 TUR and ROA performance units, which can ultimately settle in common units or cash based on future performance and vesting conditions.
Western Midstream Partners executive Catherine A. Green, SVP & Chief Accounting Officer, reported multiple equity compensation transactions in common units on February 12, 2026. She acquired WES common units through the exercise and conversion of previously granted phantom and performance units at an exercise price of $0 per unit, then had a portion of those units disposed of under code "F" to cover tax liabilities at prices including $42.35 per unit.
Following these transactions, she directly held 115,036 common units. Green also received new awards of 23,613 2026 Phantom Units and 11,806 each of 2026 Performance Units (TUR and ROA), which can convert into common units (or cash) depending on time-based vesting and three-year performance goals that can result in between 0% and 200% payout per unit.
Western Midstream Partners’ SVP & Chief Financial Officer Kristen S. Shults reported multiple equity award activities dated February 12, 2026. She exercised previously granted phantom and performance units into WES common units and had a portion of those units withheld to cover tax obligations at a price of $42.35 per unit. Shults also received new long-term incentives, including 35,419 2026 Phantom Units and 17,710 units each of 2026 Performance Unit awards tied to total unitholder return and return on assets. Following these transactions, she continues to hold a substantial direct position in WES common units and a mix of outstanding phantom and performance-based derivative awards that vest over multi-year periods based on continued service and pre-established performance metrics.
Western Midstream Partners (WES) reported that Western Gas Resources, Inc. transferred and surrendered 15,307,402 common units representing limited partner interests to the partnership on February 3, 2026 under a Unit Redemption Agreement tied to amendments of operating agreements.
Following this redemption, Western Gas Resources, Inc. holds 140,912,118 common units, APC Midstream Holdings, LLC holds 457,849 common units and Anadarko USH1 Corporation holds 9,004,209 common units.
The filing explains that these entities, along with several Anadarko and OXY subsidiaries, are all direct or indirect wholly owned subsidiaries of Occidental Petroleum Corporation, which remains a 10% owner of WES through this ownership chain.
Western Gas Resources, Inc., an Occidental Petroleum affiliate, transferred and surrendered 15,307,402 common units of Western Midstream Partners to the partnership on February 3, 2026 under a Unit Redemption Agreement tied to amendments of operating agreements.
After this transaction, WGRI holds 140,912,118 common units, APC Midstream Holdings, LLC holds 457,849 common units, and Anadarko USH1 Corporation holds 9,004,209 common units, all through a chain of entities that are wholly owned, directly or indirectly, by Occidental.
Occidental Petroleum and its affiliates have updated their ownership disclosure for Western Midstream Partners. They report beneficial ownership of 150,374,176 common units, representing 38.3% of Western Midstream’s outstanding common units as of October 31, 2025.
The filing explains that these units are held through several subsidiaries, primarily Western Gas Resources, Inc., APC Midstream Holdings, LLC and Anadarko USH1 Corporation. On February 3, 2026, Western Gas Resources, Inc. transferred and surrendered 15,307,402 common units to Western Midstream in connection with the closing of a previously disclosed Unit Redemption Agreement, and no other transactions in the units are reported since the prior amendment.
Western Midstream Partners, LP reported that its subsidiary Delaware Basin Midstream LLC amended a major Delaware Basin gas gathering agreement with Anadarko E&P Onshore LLC, a subsidiary of Occidental Petroleum. The amendment replaces the prior cost-of-service fee structure with a fixed-fee structure, adds a new minimum volume commitment through the end of 2027, and updates how certain dedication-related acreage transfers and releases are handled.
In connection with this amendment and related transactions, Western Midstream and subsidiaries of Occidental entered into a Unit Redemption Agreement. Under this agreement, Western Midstream will acquire and redeem approximately 15.3 million WES common units on February 3, 2026. After these transactions, Occidental will indirectly hold 37.2% of Western Midstream’s outstanding common units while continuing to indirectly own all equity interests in the general partner. A special committee of independent directors reviewed and approved the agreements, which were then approved by the full board.