HOUSTON, July 18, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the second quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's second-quarter 2024 Base Distribution is payable on August 14, 2024, to unitholders of record at the close of business on ...

In the latest market close, Western Midstream (WES) reached $41.77, with a +0.05% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.85%, and the technology-centric Nasdaq increased by 0.2%. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.11 per share and a revenue of $3.65 billion, representing changes of +58.08% and +17.52%, respectively, from the prior year. In ...

Heading into today, shares of the oil and gas transportation and storage company had gained 7.74% over the past month, outpacing the Oils-Energy sector's loss of 11.98% and the S&P 500's gain of 4.44% in that time. For the full year, the Zacks Consensus Estimates are projecting earnings of $4.10 per share and revenue of $3.65 billion, which would represent changes of +57.69% and +17.52%, respectively, from the prior year. Our research demonstrates that these adjustments in estimates directly associate with ...

Western Midstream largely provides transportation to either long-distance connections or a gathering service, after which a competitor transports the production to a customer or for export. Shown below are the major products that are gathered and transported. When Occidental gained control of this midstream company, the center of operations was the DJ Basin. That's the one that has been upgraded and rationalized the most. On the other hand, the Delaware Basin is much more favorably located for natural gas e ...

HAKINMHAN Company Overview And Macro Western Midstream: Appealing Execution WES: Up A Lot But Still Attractive Western Midstream Partners, LP (NYSE:WES) is not among the largest energy or midstream companies, but it offers one of the highest dividend yields that is available today, at 8.5%. While shares have rallied substantially over the last year, they still aren't expensive today. For someone looking for a high yield from a company with a K-1, Western Midstream Partners remains a solid choice. the Atlant ...

A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. To the extent Schedule K-3 is applicable to your federal income tax return filing needs, we encourage you to review the information contained on this form and refer to the appropriate federal laws and guidance or consult with yo ...

Western Midstream Partners LP (NYSE:WES) Q1 2024 Earnings Conference Call May 9, 2024 2:00 PM ET Company Participants Daniel Jenkins - Director, IR Michael Ure - President, CEO & Director Kristen Shults - SVP & CFO Conference Call Participants Keith Stanley - Wolfe Research Spiro Dounis - Citigroup Noah Katz - JPMorgan Chase & Co. Zach Van Everen - TPH & Company Manav Gupta - UBS Operator This time, I would like to welcome everyone to the Western Midstream Partners First Quarter 2024 Earnings Conference Cal ...

Financial Performance - Total revenues for Q1 2024 were $887.7 million, a 3.4% increase from $858.2 million in Q4 2023 and a 20.9% increase from $733.9 million in Q1 2023 [135]. - Operating income for Q1 2024 was $679.4 million, significantly up from $391.9 million in Q4 2023 and $290.2 million in Q1 2023 [135]. - The company reported a net income of $586,216 thousand for the three months ended March 31, 2024, significantly higher than $295,752 thousand in the previous quarter and $208,341 thousand in the same quarter last year [186]. - The company reported a net income attributable to WES of $572.8 million for the three months ended March 31, 2024, compared to $288.4 million in the previous quarter [228]. - Adjusted EBITDA for the three months ended March 31, 2024, was $608,409 thousand, an increase from $570,665 thousand in the previous quarter and $498,695 thousand in the same quarter last year [186]. - Adjusted gross margin reached $845,052 thousand for the three months ended March 31, 2024, reflecting a 3% increase from $819,381 thousand in the previous quarter and a 22% increase from $695,155 thousand a year ago [195]. Revenue Sources - Service revenues increased by 4% to $848.0 million in Q1 2024 compared to $813.4 million in Q4 2023, and up 22% from $694.7 million in Q1 2023 [143]. - Natural-gas sales decreased by 78% to $3.2 million in Q1 2024 compared to $14.2 million in Q4 2023, primarily due to decreased volumes sold [148]. - NGLs sales increased by $5.6 million compared to the three months ended December 31, 2023, driven by a $3.7 million increase at the DJ Basin and $2.4 million at the Powder River Basin due to increased volumes sold from the acquisition of Meritage [151]. Costs and Expenses - Total cost of product and operation and maintenance expenses remained relatively stable at $241.018 million, with a 7% increase compared to $225.698 million for the three months ended March 31, 2023 [155]. - General and administrative expenses decreased by $5.2 million compared to the three months ended December 31, 2023, primarily due to a $6.2 million decrease in contract labor and consulting costs [164]. - Interest expense decreased by $3.1 million compared to the three months ended December 31, 2023, primarily due to a $5.7 million decrease from no outstanding borrowings under the RCF [172]. - Depreciation and amortization expense increased by $13.4 million compared to the three months ended March 31, 2023, primarily due to a $15.1 million increase at the Powder River Basin complex from the acquisition of Meritage [169]. Investments and Divestitures - The company closed on the sale of several equity investments for combined proceeds of $588.6 million during Q1 2024, including $5.9 million in pro-rata distributions [118]. - In Q1 2024, the company closed the sale of equity investments, generating proceeds of $588.6 million and a net gain of $239.7 million recorded as Gain on divestiture [130]. - The company sold its 33.75% interest in the Marcellus Interest systems for $206.2 million, resulting in an estimated net gain of $65.0 million to be recorded in Q2 2024 [131]. - The acquisition of Meritage was completed in October 2023 for $885.0 million, funded by cash and proceeds from a $600.0 million senior note issuance [132]. Cash Flow and Liquidity - Free cash flow for the three months ended March 31, 2024, was $224,952 thousand, compared to $282,036 thousand in the previous quarter and $141,592 thousand in the same quarter last year [188]. - Net cash provided by operating activities for the three months ended March 31, 2024, was $399,708 thousand, a decrease from $473,300 thousand in the previous quarter and an increase from $302,424 thousand in the same quarter last year [186]. - As of March 31, 2024, the company reported a working capital surplus of $358.2 million, indicating a strong liquidity position [214]. - The company maintains $1.9 billion in effective borrowing capacity under the revolving credit facility as of March 31, 2024 [214]. Market Conditions and Risks - The company anticipates that fluctuations in commodity prices will impact producer activity and, consequently, its operations [124]. - Inflation and supply-chain disruptions have raised operating costs and capital expenditures, which could materially affect financial results [126]. - A 10% change in commodity prices is not expected to materially impact operating income or cash flows for the next 12 months, as 95% of wellhead natural-gas volume and 100% of crude-oil throughput were under fee-based contracts [237]. - The company expects its exposure to credit risk from counterparties, particularly Occidental, to continue impacting cash distributions to unitholders [225]. Shareholder Returns - The Board declared a cash distribution of $0.875 per unit, totaling $340.9 million, payable on May 15, 2024 [209]. - The company distributed $223.4 million to WES unitholders during the three months ended March 31, 2024, compared to $196.6 million in the same period of 2023 [228]. - The company has an authorized amount of $627.8 million remaining under its common-unit buyback program, with no units repurchased in the latest quarter [211].

EXHIBIT 99.1 RECENT HIGHLIGHTS • Reported record first-quarter 2024 Net income attributable to limited partners of $559.5 million, generating record first-quarter Adjusted EBITDA of $608.4 million. (1) • Reported first-quarter 2024 Cash flows provided by operating activities of $399.7 million, generating first-quarter Free cash flow of $225.0 million. (1) • Announced a first-quarter Base Distribution of $0.875 per unit, or $3.50 per unit on an annualized basis, which represents a 52-percent increase over th ...

Western Midstream Partners, LP (NYSE:WES) Q4 2023 Earnings Conference Call February 22, 2024 2:00 PM ET Company Participants Daniel Jenkins - Director of Investor Relations Michael Ure - Chief Executive Officer Kristen Shults - Chief Financial Officer Conference Call Participants Spiro Dounis - Citi Jeremy Tonet - JP Morgan Brian Reynolds - UBS Zack Van Everen - TPH Keith Stanley - Wolfe Research Selman Akyol - Stifel. Ned Baramov - Wells Fargo Neel Mitra - Bank of America Operator Good afternoon. ...