Western Midstream(US:WES)2023-05-04 18:25Ownership Structure - Occidental owns 50.6% of Western Midstream Partners, LP ("WES"), while public unitholders own 49.4%[2] - The market capitalization of WES is approximately $10.5 billion[2] Operational Performance (Q1 2023) - Natural-gas throughput was 4,107 MMcf/d[7] - Adjusted gross margin for natural-gas assets was $1.30/Mcf[7] - Crude-oil and NGLs throughput was 611 MBbls/d[7] - Adjusted gross margin for crude-oil and NGLs assets was $2.65/Bbl[7] - Produced-water throughput was 957 MBbls/d[7] - Adjusted gross margin for produced-water assets was $0.81/Bbl[7] - Delaware Basin natural-gas throughput reached 1.57 Bcf/d, a 3% increase Q-o-Q[5] Financial Performance (Q1 2023) - Operating cash flow was $302.4 million[8] - Cash capital investments totaled $160.8 million[8] - Free cash flow was $141.6 million[8] - Cash distributions paid were $196.6 million[8] - Net income was $199 million[9] - Adjusted EBITDA was $499 million[9] Capital Structure and Liquidity - The company issued $750 million of senior notes and refinanced credit facility borrowings[5] - Amended $2.0 billion credit facility extending maturity to 2028[5] - Available liquidity includes $1.995 billion in RCF capacity and $361 million in cash[21]