Headquartered in The Woodlands, TX Fiscal year ends December NYSE: WES westernmidstream.com
Western Midstream Partners, LP (NYSE: WES) is a master limited partnership that develops, acquires, owns, and operates midstream energy assets in Texas, New Mexico, Colorado, Utah, and Wyoming. Its operations span the Delaware, DJ, and Powder River basins.
WES has three product lines:
- Natural gas: gathering, compressing, treating, processing, and transporting.
- Crude oil and NGLs: gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil.
- Produced water: gathering, transporting, recycling, treating, and disposing for exploration and production customers.
As a natural-gas processor, it also buys and sells residue gas, NGLs, and condensate under certain processing contracts. A substantial majority of its cash flows come from fee-based contracts that limit direct commodity-price exposure.
In June 2026 WES acquired Brazos Delaware II, LLC, expanding its Delaware Basin footprint. The Delaware Basin is now its largest growth driver. WES also holds a 7.5% equity interest in the WhiteWater-operated Solitude Pipeline System, a Permian-to-Katy natural-gas takeaway project. Further growth projects include the Pathfinder pipeline and the North Loving II processing expansion.
An Occidental subsidiary holds a 1.8% limited partner interest in WES Operating, and a third party holds 25% of Chipeta. The partnership pays a quarterly cash distribution to unitholders. Updated
The roughly 8.4% yield stays intact: the $0.93 quarterly distribution held steady despite a double miss on margin compression. Management now sees full-year adjusted EBITDA above the midpoint of its guidance range.
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Western Midstream Partners, LP (NYSE: WES) is a master limited partnership that develops, acquires, owns, and operates midstream energy assets in Texas, New Mexico, Colorado, Utah, and Wyoming. Its operations span the Delaware, DJ, and Powder River basins.
24/7 Wall St.'s 12-month price target for WES is $43.79, rated Buy. The Wall Street consensus target is $49.54. WES price prediction →
