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’ 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.
Western Midstream Partners, LP received an updated ownership disclosure from Occidental Petroleum and its affiliates through Amendment No. 8 to a Schedule 13D. The reporting group states that they beneficially own 165,681,578 common units, representing 40.6% of Western Midstream’s common units, based on 407,995,725 units outstanding as of October 31, 2025.
The amendment also describes a Unit Redemption Agreement dated January 16, 2026, under which Western Gas Resources, Inc. will transfer and surrender 15,307,402 common units to Western Midstream on February 3, 2026. This redemption is tied to amendments to key gas gathering and gas processing agreements that adjust minimum volume commitments, gathering fees, and rate structures, and add provisions for a related gathering, processing and treating agreement with an affiliate.
Western Midstream Partners LP reported that ALPS Advisors, Inc. and Alerian MLP ETF together have beneficial ownership of a significant block of its common units representing limited partner interests as of 12/31/2025. ALPS Advisors, Inc., a Colorado-based investment adviser, is reported as having beneficial ownership of 35,074,357 common units, representing 8.6% of the class, through funds it advises. Alerian MLP ETF, a Delaware investment company advised by ALPS, is reported as beneficially owning 34,658,430 common units, or 8.49% of the class.
Both ALPS Advisors and Alerian MLP ETF report shared voting and dispositive power over their respective positions and no sole voting or dispositive power. The securities are stated to be held in the ordinary course of business and not for the purpose of changing or influencing control of Western Midstream Partners.
Western Midstream Partners, LP, through subsidiary Western Midstream Operating, LP, completed a public debt offering of $600 million of 4.800% Senior Notes due 2031 and $600 million of 5.500% Senior Notes due 2035. The notes pay interest semi-annually and may be redeemed early at the applicable redemption prices set in the Indenture. They rank equally with WES Operating’s other senior debt and ahead of any future subordinated debt. The company plans to use the net proceeds to repay its 4.650% Senior Notes due 2026, reduce borrowings under its commercial paper program, including amounts used to fund the acquisition of Aris Water Solutions, Inc., and for general partnership purposes such as capital expenditures.
Western Midstream Partners (WES) reported stronger Q3 2025 results. Total revenues were $952.5 million, up from $883.4 million a year ago, driven mainly by higher fee‑based service revenues of $868.3 million. Operating income rose to $441.6 million from $395.9 million, and net income attributable to WES increased to $339.6 million versus $288.5 million. Diluted net income per common unit was $0.87, compared with $0.74 in Q3 2024.
Year‑to‑date, cash from operating activities reached $1.665 billion, with capital expenditures of $505.8 million and financing outflows of $2.102 billion reflecting debt repayment and cash distributions. Cash ended at $177.3 million. The quarterly cash distribution was $0.910 per unit for Q3 2025. Long‑term debt carrying value was $6.924 billion. As a subsequent event, WES acquired Aris Water Solutions, Inc. on October 15, 2025. Management notes ongoing discussions with Occidental regarding certain DJ Basin oil‑gathering rate provisions; an adverse outcome could negatively affect results.
Western Midstream Partners, LP (WES) filed an 8-K stating it issued a press release announcing third-quarter 2025 results. The company also made the slide presentation for its upcoming earnings call available on its website. The press release is furnished as Exhibit 99.1, with the cover page interactive data file listed as Exhibit 104.