Western Midstream Partners, LP - Company Research Report

Company Overview

• Name: Western Midstream Partners, LP

• Mission of the Company: Improving lives through safe, sustainable, and efficient energy delivery.

• Vision: Leading the North American midstream sector in cost, safety, and minimizing impact to the environment through improvements in technology and innovation.

• Founded: August 21, 2007, by Anadarko Petroleum Corporation.

• Key People:

• Oscar K. Brown - President and Chief Executive Officer

• Christopher B. Dial - Senior Vice President, General Counsel, and Secretary

• Catherine A. Green - Senior Vice President and Chief Accounting Officer

• Kristen S. Shults - Senior Vice President and Chief Financial Officer

• Senior Leadership includes Jonathan A. Greenberg, Keith Herndon, Laura Naida, Peter I. Trombley, and others.

• Headquarters: 9950 Woodloch Forest Drive, Suite 2800, The Woodlands, TX 77380

• Number of Employees: More than 1,200

• Revenue: No information is available.

• Noted For: Providing midstream services across major basins in the U.S., ensuring system reliability, performance, and sustainable operations.

Products

Overview

Western Midstream is engaged in the gathering, compressing, treating, processing, and transporting of natural gas; gathering, stabilizing and transporting of condensate, natural-gas liquids (NGLs), and crude oil; and gathering and disposing of produced water.

Key Products and Features:

1. Natural Gas Systems:

• Description: Processing and compressing natural gas.

• Key Features:

• Gas processing plants

• Natural-gas pipelines

• Facilities located primarily in Delaware Basin and DJ Basin

2. Crude Oil and NGL Systems:

• Description: Stabilization, treating, and transportation of crude oil and NGLs.

• Key Features:

• Central production facilities

• Regional oil treating facilities

• Crude oil storage tanks connected to transportation networks

3. Water Systems:

• Description: Gathering and disposal of produced water.

• Key Features:

• Saltwater disposal wells

• Systems with take-away capacity and third-party offload

Recent Developments

• Leadership Update:

• October 28, 2024: Oscar K. Brown was appointed as President and Chief Executive Officer.

• Acquisitions:

• 2023: Acquired Meritage Midstream in the Powder River Basin.

• New Infrastructure:

• 2024: Completed startup of Train III at the Mentone Plant in West Texas.

• Financial Milestones:

• January 24, 2025: Announced fourth-quarter 2024 distribution and earnings conference call.

• November 6, 2024: Third-quarter 2024 results announced showing business insights into financial performance.

• Partnerships and Investments:

• Engaged in partnerships, such as the Texas Express Pipeline and Mi Vida gas processing plant, expanding processing capacity and transportation network.

Sustainability Approach

Western Midstream is committed to three strategic pillars for its sustainability efforts:

• Supporting a Sustainable Environment: Reducing environmental impact in operations.

• Focusing on People: Ensuring a positive work environment and community support.

• Operating Responsibly: Embracing technology and innovation for operational improvements and safety enhancements.

Governance

Western Midstream's governance structure is overseen by a Board of Directors with seven directors, including three independent directors. Various committees like Audit, Special, Sustainability, and Compensation Committees guide fiduciary responsibilities towards unitholders.

Conclusion

Western Midstream Partners, LP focuses on reliable, efficient, and sustainable midstream operations with extensive natural gas, oil, and water systems across strategic U.S. basins. It shows a commitment to innovation, safety, and community engagement through its operations and leadership strategies.