Core Viewpoint - The company has announced new amendments to its contracts in the Delaware Basin, which involve renegotiations with Occidental Petroleum and a new arrangement with ConocoPhillips, aimed at enhancing its operational framework and long-term strategic benefits [1][2] Group 1: Contract Amendments - The company renegotiated natural-gas gathering and processing contracts in the Delaware Basin with a subsidiary of Occidental Petroleum [1] - A new natural-gas gathering and processing arrangement was established with ConocoPhillips for a portion of its Delaware Basin natural gas volumes [1] - These agreements reset Delaware Basin natural gas fees in exchange for WES common units from Occidental, promoting the development of acreage supported by the company's systems [1] Group 2: Strategic Realignment - The transaction realigns the company's equity capital structure to better accommodate anticipated changes that will provide long-term strategic benefits [2] - These changes signify a significant step in the company's evolution as a stand-alone midstream enterprise, simplifying its contract portfolio and diversifying its customer base [2] - The amendments reinforce the company's ability to deliver enduring value for its stakeholders [2]