Western Midstream Partners, LP

Western Midstream Partners reported strong financial results for Q2 2026, with net income attributable to the company increasing by 18.1% to $403.55 million and total revenues rising by 29.97% to $1.22 billion. Basic net income per common unit also grew by 12.5% to $0.99. The company completed the acquisition of Brazos Delaware II, LLC for $818.72 million in June 2026 and Aris Water Solutions, Inc. in October 2025, alongside a $610 million unit redemption with Occidental.

Western Midstream Partners announced strong second-quarter 2026 results, reporting record Adjusted EBITDA of $736.5 million, a 19% increase from the prior year, and Net income of $394.9 million. The company also raised its full-year 2026 guidance for Adjusted EBITDA, Distributable Cash Flow, and Free Cash Flow, reflecting the strength of its first-half performance and the recent Brazos Delaware acquisition. Additionally, WES executed new long-term gathering and processing agreements in the Powder River Basin.

Western Midstream Operating, LP, a subsidiary of Western Midstream Partners, LP, completed a public offering of $700 million aggregate principal amount of 5.700% Senior Notes due 2036. The notes will mature on July 1, 2036, with interest payable semi-annually. The net proceeds from the offering will be used to repay borrowings under its revolving credit facility and commercial paper program, as well as for general partnership purposes and funding capital expenditures.

Western Midstream Partners, LP announced the closing of its previously announced acquisition of Brazos Delaware II, LLC for approximately $1.6 billion. The purchase price was comprised of $800 million in cash and $800 million in Western Midstream common units, representing approximately 19.4 million units. This acquisition is expected to expand the Partnership's midstream assets in the Delaware Basin, align with its capital deployment philosophy, and be accretive to per-unit metrics while protecting its balance sheet and investment-grade credit ratings. A registration rights and lock-up agreement was also entered into, requiring the Partnership to file a registration statement for the resale of the common units issued to the seller within 60 days, with the seller agreeing to a six-month lock-up period.

Western Midstream Partners, LP reported a strong first quarter for 2026, with total revenues increasing by 22.5% to $1.12 billion and net income per common unit rising to $0.86. The company also completed a significant $610 million unit redemption with Occidental, impacting its partners' capital. Operating expenses and capital expenditures saw notable increases, while net cash provided by operating activities decreased.

Western Midstream Partners, LP announced the acquisition of Brazos Delaware II, LLC for approximately $1.6 billion, comprising $800 million in cash and $800 million in WES common units. This strategic move expands its Delaware Basin footprint, adding 470,000 dedicated acres and 460 MMcf/d natural-gas processing capacity. The company also reported strong first-quarter 2026 results, with record Adjusted EBITDA of $683.1 million, a 15% increase year-over-year, and a 2.2% sequential increase in its quarterly distribution to $0.930 per unit. WES expects to be at the high end of its 2026 Adjusted EBITDA and Distributable Cash Flow guidance ranges, excluding the Brazos transaction.