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Westlake Chemical Partners LP (WLKP) filed an initial statement of beneficial ownership (Form 3) for officer Tommy Darby, who serves as VP and CAO. The filing reports Mr. Darby’s status as an officer and includes no reported transactions or derivative holdings at this time.
Westlake Chemical Partners LP (WLKP) reported a leadership change in its accounting function. On August 31, 2026, Tommy E. Darby, age 45, was appointed Vice President, Chief Accounting Officer of Westlake Chemical Partners GP LLC, the general partner of the partnership, effective immediately. On the same date, he was also appointed Vice President, Chief Accounting Officer of Westlake Corporation, the indirect parent of the general partner. Darby brings prior senior accounting and controller experience from Pactiv Evergreen Inc. (now Novolex), Valaris plc (now Valaris Limited), and Deloitte LLP, and is a Certified Public Accountant. He succeeds Jeffrey A. Holy, who will transition to Vice President, Finance and Investor Relations of the general partner, effective concurrent with Darby’s appointment.
Westlake Chemical Partners LP reported that director Randy Woelfel received a grant of 5,044 Phantom Units on August 12, 2026. Each Phantom Unit is the economic equivalent of one Common Unit of the partnership. These derivative awards carry an exercise date of August 12, 2027 and an expiration date of September 12, 2027.
Westlake Chemical Partners LP reported that director Finley G. Stephen received a grant of 5,044 Phantom Units on August 12, 2026. These Phantom Units are derivatives that are the economic equivalent of 5,044 Common Units of the partnership. The award has an exercise date of August 12, 2027 and an expiration date of September 12, 2027, and was granted at a stated price of $0.00 per unit, reflecting compensation rather than a market purchase.
Westlake Chemical Partners LP reported that director Lisa A. Friel received a grant of 5,044 Phantom Units on August 12, 2026. The award carries a per-unit price of $0.00 and is classified as a derivative security. Each Phantom Unit is disclosed as the economic equivalent of one Common Unit of Westlake Chemical Partners LP. The Phantom Units relate to an equal number of underlying Common Units and are scheduled with an exercise date of August 12, 2027 and an expiration date of September 12, 2027.
Westlake Chemical Partners LP director Lisa A. Friel exercised 5,005 Phantom Units, each economically equivalent to one Common Unit, into 5,005 Common Units on August 6, 2026. She then disposed of 2,502 Common Units to the issuer at $21.35 per unit, leaving 0 Phantom Units from this award.
Westlake Chemical Partners LP director Randy Woelfel exercised 5,005 Phantom Units into 5,005 Common Units on August 6, 2026, then disposed 5,005 Common Units back to the issuer at $21.35 per unit. Each Phantom Unit is economically equivalent to one Common Unit.
Stephen G. Finley, a director of Westlake Chemical Partners GP LLC, exercised 5,005 phantom units, each economically equivalent to one common unit, into 5,005 Westlake Chemical Partners LP common units on August 6, 2026. Following this conversion, he directly held 36,935 common units.
Westlake Chemical Partners LP, which owns a 22.8% interest in ethylene producer OpCo, reported Q2 2026 net income of $82.4 million on net sales of $297.1 million. Net income attributable to the partnership was $14.2 million, or $0.40 per common unit, with a gross margin of 31.9%.
For the first six months of 2026, net income was $164.0 million on $602.8 million of net sales, up 12.7% from the prior-year period, as higher ethylene and co‑product volumes more than offset lower average prices. First-half EBITDA was $243.9 million, and MLP distributable cash flow was $35.5 million.
Operating cash flow reached $240.0 million in the first half, while capital expenditures were $18.0 million. Long‑term debt payable to Westlake totaled $399.7 million. The quarterly cash distribution was maintained at $0.4714 per common unit, and OpCo and the partnership extended their revolving credit facilities’ maturities to July 11, 2031.
Westlake Chemical Partners LP reported second quarter 2026 net income attributable to the Partnership of $14.2 million, or $0.40 per limited partner unit, slightly below $14.6 million a year earlier. EBITDA for the quarter was $122.7 million.
Cash flows from operating activities were $129.8 million, an increase of $120.7 million from $9.1 million in second quarter 2025, driven by higher production and sales volume and lower maintenance capital expenditures following the prior year’s Petro 1 turnaround. MLP distributable cash flow was $17.6 million, up from $15.0 million, giving a trailing twelve-month coverage ratio of 1.04x.
The board approved a quarterly distribution of $0.4714 per common unit, payable August 28, 2026 to unitholders of record on August 13, 2026, marking the 48th consecutive quarterly distribution. The Partnership and OpCo also amended their senior unsecured revolving credit agreements with Westlake Corporation, extending maturities to July 2031.