Company research
Western Midstream Operating, LP
CIK 1414475Updated Sep 24, 2026
Name history
Western Gas Partners LP · through Feb 20, 2019
Filing activity
Latest filing
50 filings on record · 8-K, 424B2, FWP, 424B5, 424B3, SD.
About the company
Western Midstream Partners, LP (“WES”) is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With midstream assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering, transporting, recycling, treating, and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells residue, natural-gas liquids, and condensate on behalf of itself and its customers under certain gas processing contracts. A substantial majority of WES’s cash flows are protected from direct exposure to commodity price volatility through fee-based contracts.
Recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Other Events
Items 1.01, 2.03, 8.01, 9.01
424B2 filing
FWP filing
424B5 filing
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Items 1.01, 7.01, 9.01
Show 5 more recent filings
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Items 1.01, 7.01, 9.01
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Other Events
Items 1.01, 2.03, 8.01, 9.01
424B5 filing
FWP filing
424B3 filing
Financials
FY 2018 · USDSource
Source
Source
Source
balance sheet · annual statements
| Line item | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 11,454,845,000Source | 8,014,350,000Source | 7,733,028,000Source | 7,317,903,000Source |
| Property, Plant and Equipment, NetUSD | 8,410,353,000Source | 5,730,891,000Source | 5,049,932,000Source | 4,858,779,000Source |
| GoodwillUSD | 445,800,000Source | 416,160,000Source | 417,610,000Source | 419,186,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 841,408,000Source | 775,269,000Source | 803,698,000Source | 832,127,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 90,448,000Source | 78,814,000Source | 357,925,000Source | 98,033,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 221,328,000Source | 160,387,000Source | 192,808,000Source | 143,557,000Source |
| Assets, CurrentUSD | 338,002,000Source | 254,062,000Source | 594,014,000Source | 299,217,000Source |
| Other Assets, NoncurrentUSD | 67,194,000Source | 11,757,000Source | 13,566,000Source | 29,707,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 6,535,248,000Source | 4,043,339,000Source | 3,597,249,000Source | 3,399,875,000Source |
| Liabilities and EquityUSD | 11,454,845,000Source | 8,014,350,000Source | 7,733,028,000Source | 7,317,903,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 608,203,000Source | 424,333,000Source | 315,305,000Source | 235,488,000Source |
| Deferred Income Tax Liabilities, NetUSD | 280,017,000Source | 7,409,000Source | 6,402,000Source | — |
| Other Liabilities, NoncurrentUSD | 132,130,000Source | — | — | — |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 127,874,000Source | 47,899,000Source | 168,899,000Source | 119,019,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 4,787,381,000Source | 3,464,712,000Source | 3,091,461,000Source | 2,707,357,000Source |
| Partners' CapitalUSD | 4,861,830,000Source | 3,909,282,000Source | 4,071,216,000Source | 3,850,644,000Source |
| Partners' Capital, Including Portion Attributable to Noncontrolling InterestUSD | 4,919,597,000Source | 3,971,011,000Source | 4,135,779,000Source | 3,918,028,000Source |
cash flow · annual statements
| Line item | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 636,526,000Source | 578,218,000Source | 602,294,000Source | 14,207,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 389,164,000Source | 290,874,000Source | 272,933,000Source | 272,611,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 6,153,000Source | 4,922,000Source | 4,735,000Source | 4,188,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 60,460,000Source | 16,127,000Source | 48,947,000Source | 4,371,000Source |
| Deferred Income Tax Expense (Benefit)USD | 139,048,000Source | 2,458,000Source | 2,555,000Source | 11,346,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 1,352,114,000Source | 901,495,000Source | — | — |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -2,210,813,000Source | -763,604,000Source | — | — |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 870,333,000Source | -417,002,000Source | — | — |
| Dividends paid | — | — | — | — |
| Repayments of Long-term DebtUSD | 1,040,000,000Source | 0Source | 900,000,000Source | 610,000,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 139,482,000Source | 137,326,000Source | 106,485,000Source | 94,720,000Source |
| Income Taxes Paid, NetUSD | 2,408,000Source | 1,194,000Source | 838,000Source | 0Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 30,800,000Source | 28,400,000Source | 28,400,000Source | 28,200,000Source |
| Asset Retirement Obligation, Accretion ExpenseUSD | 7,909,000Source | 6,956,000Source | 6,794,000Source | 6,381,000Source |
| Deferred Other Tax Expense (Benefit)USD | 1,514,000Source | — | -135,400,000Source | -41,844,000Source |
| Equity Method Investment, Other than Temporary ImpairmentUSD | — | 3,110,000Source | — | — |
| General and Administrative ExpenseUSD | 63,166,000Source | 47,796,000Source | 45,591,000Source | 41,319,000Source |
| GoodwillUSD | 445,800,000Source | 416,160,000Source | 417,610,000Source | 419,186,000Source |
| Goodwill, Impairment LossUSD | 0Source | 0Source | 0Source | — |
| Impairment of Intangible Assets (Excluding Goodwill)USD | 0Source | 0Source | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 195,469,000Source | 85,194,000Source | 78,717,000Source | 71,251,000Source |
| Income Tax Expense (Benefit)USD | 58,934,000Source | 4,866,000Source | 8,372,000Source | 45,532,000Source |
| Inventory Write-downUSD | 752,000Source | 145,000Source | 168,000Source | 443,000Source |
| Net Income (Loss) Attributable to ParentUSD | 627,917,000Source | 567,483,000Source | 591,331,000Source | 4,106,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 8,609,000Source | 10,735,000Source | 10,963,000Source | 10,101,000Source |
| Operating Costs and ExpensesUSD | 480,861,000Source | 315,994,000Source | 308,010,000Source | 331,972,000Source |
| Other Nonoperating Income (Expense)USD | -4,955,000Source | 1,299,000Source | 479,000Source | -619,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 2,671,344,000Source | 369,989,000Source | 1,297,218,000Source | 889,606,000Source |
| Proceeds from Noncontrolling InterestsUSD | — | — | — | 0Source |
income statement · annual statements
| Line item | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|
| Total RevenueUSD | 2,305,408,000Source | — | — | — |
| Cost of RevenueUSD | 415,505,000Source | — | — | — |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Operating Income (Loss)USD | 865,311,000Source | 707,271,000Source | 708,208,000Source | 157,330,000Source |
| Other Nonoperating Income (Expense)USD | -4,955,000Source | 1,299,000Source | 479,000Source | -619,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 695,460,000Source | 583,084,000Source | 610,666,000Source | 59,739,000Source |
| Income Tax Expense (Benefit)USD | 58,934,000Source | 4,866,000Source | 8,372,000Source | 45,532,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 8,609,000Source | 10,735,000Source | 10,963,000Source | 10,101,000Source |
| Net Income (Loss) Attributable to ParentUSD | 627,917,000Source | 567,483,000Source | 591,331,000Source | 4,106,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 30,800,000Source | 28,400,000Source | 28,400,000Source | 28,200,000Source |
| Costs and ExpensesUSD | 1,631,128,000Source | 1,788,549,000Source | 1,176,408,000Source | 1,723,017,000Source |
| Current Income Tax Expense (Benefit)USD | -80,114,000Source | 2,408,000Source | 5,817,000Source | 34,186,000Source |
| General and Administrative ExpenseUSD | 63,166,000Source | 47,796,000Source | 45,591,000Source | 41,319,000Source |
| Goodwill, Impairment LossUSD | 0Source | 0Source | 0Source | — |
| Income (Loss) from Equity Method InvestmentsUSD | 195,469,000Source | 85,194,000Source | 78,717,000Source | 71,251,000Source |
| Interest ExpenseUSD | 181,796,000Source | 142,386,000Source | 114,921,000Source | 113,872,000Source |
| Operating Costs and ExpensesUSD | 480,861,000Source | 315,994,000Source | 308,010,000Source | 331,972,000Source |
| Taxes, MiscellaneousUSD | 51,848,000Source | 46,818,000Source | 40,145,000Source | 33,288,000Source |
Filing attachments
wesop20268-kxjunedebtxex41.htm · 8-K · 2026-06-25
EX-4.1 3 wesop20268-kxjunedebtxex41.htm EX-4.1 Document EXHIBIT 4.1 WESTERN MIDSTREAM OPERATING, LP, as Issuer $700,000,000 5.700% SENIOR NOTES DUE 2036 SIXTEENTH SUPPLEMENTAL INDENTURE Dated as of June 25, 2026 COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee TABLE OF CONTENTS Page ARTICLE I. …
Read attachment ↗wes20268-kxjanuaryxex991.htm · 8-K · 2026-01-22
EX-99.1 4 wes20268-kxjanuaryxex991.htm EX-99.1 Document EXHIBIT 99.1 WESTERN MIDSTREAM ANNOUNCES DELAWARE BASIN NATURAL-GAS CONTRACT AMENDMENTS IN EXCHANGE FOR COMMON UNITS AND ANNOUNCES INTERVIEW WITH CEO, OSCAR BROWN, AND CFO, KRISTEN SHULTS, DISCUSSING THESE TRANSACTIONS HOUSTON - (PR NEWSWIRE) - January 20, 2026 - Western Midstream Partners, LP (NYSE: WES) (“WES”) announced today that it has renegotiated natural-gas gathering and processing contracts in the Delaware Basin with a subs…
Read attachment ↗wesop20258-kxdecdebtxex41.htm · 8-K · 2025-12-04
EX-4.1 3 wesop20258-kxdecdebtxex41.htm EX-4.1 Document Exhibit 4.1 WESTERN MIDSTREAM OPERATING, LP, as Issuer $600,000,000 4.800% SENIOR NOTES DUE 2031 $600,000,000 5.500% SENIOR NOTES DUE 2035 FIFTEENTH SUPPLEMENTAL INDENTURE Dated as of December 4, 2025 COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee TABLE OF CONTENTS Page ARTI…
Read attachment ↗d62968dex991.htm · 8-K · 2025-11-28
EX-99.1 2 d62968dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Execution Version FOURTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF WESTERN MIDSTREAM OPERATING, LP TABLE OF CONTENTS Page ARTICLE I DEFINITIONS Section 1.1 Definitions …
Read attachment ↗