{"schema_version":"secwatch.filing_event.v1","accession":"0001414475-23-000005","form_type":"8-K","ticker":null,"cik":"0001414475","company_name":"Western Midstream Operating, LP","filed_at":"2023-04-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.778014+00:00","generated_at":"2026-06-17T04:03:08.691118+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Western Midstream Operating enters $2B revolving credit facility, maturing 2028","bullets":["$2B unsecured revolver, can increase to $2.5B; matures April 6, 2028 with two one-year extension options.","Subfacilities: $75M letters of credit, $200M swingline loans.","Interest: Adjusted Term SOFR + 1.00%-1.70% or base rate + 0%-0.70%; facility fee 0.125%-0.300%.","Financial covenant: max consolidated leverage ratio 5.00x (5.50x for 270 days post-acquisition).","Replaces Third Amended and Restated Revolving Credit Agreement dated February 15, 2018."],"urls":{"canonical":"https://secwatch.observer/filing/0001414475-23-000005","json":"https://secwatch.observer/filing/0001414475-23-000005.json","markdown":"https://secwatch.observer/filing/0001414475-23-000005.md","text":"https://secwatch.observer/filing/0001414475-23-000005.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000005/0001414475-23-000005-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000005/wes-20230406.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T04:03:08.691118+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3dd7ad1978ba92fc1a94111db15e3bfa5166d443","claim":"Western Midstream Operating, LP incurred revolving credit of an aggregate principal amount of up to $2 billion with Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders at Adjusted Term SOFR plus an applicable margin ranging from 1.00% to 1.70% or an a maturing April 6, 2028.","evidence_excerpt":"Agreement dated as of February 15, 2018, and provides for a five-year unsecured revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of up to $2 billion, with a subfacility for standby letters of credit in an aggregate amount of up to $75 million and a subfacility for swingline loans in an aggregate amount of up to $200 million.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000005/0001414475-23-000005-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"an aggregate principal amount of up to $2 billion"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders"},{"label":"Rate","value":"Adjusted Term SOFR plus an applicable margin ranging from 1.00% to 1.70% or an a"},{"label":"Maturity","value":"April 6, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e4ad8f463811d339ae163a2e0f109032a66f953a","claim":"Western Midstream Operating, LP entered into Fourth Amended and Restated Revolving Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders valued at $2 billion (effective 2023-04-06).","evidence_excerpt":"On April 6, 2023, Western Midstream Operating, LP (“WES Operating”), a subsidiary of Western Midstream Partners, LP (“WES”), entered into that certain Fourth Amended and Restated Revolving Credit Agreement (the “Fourth A&R Credit Agreement”), by and among itself, Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000005/0001414475-23-000005-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders"},{"label":"Value","value":"$2 billion"},{"label":"Effective","value":"2023-04-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}