{"schema_version":"secwatch.filing_event.v1","accession":"0001414475-23-000012","form_type":"8-K","ticker":null,"cik":"0001414475","company_name":"Western Midstream Operating, LP","filed_at":"2023-11-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.986564+00:00","generated_at":"2026-06-08T01:03:56.711100+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 establishes $2B commercial paper program","bullets":["$2,000,000,000 CP program for general partnership purposes; no notes issued as of filing date.","Notes are unsecured, short-term promissory notes with maturities up to 397 days.","Minimum face amount $250,000; sold to qualified institutional buyers or institutional accredited investors under 4(a)(2) exemption.","National bank acting as issuing and paying agent; dealers include certain investment banks."],"urls":{"canonical":"https://secwatch.observer/filing/0001414475-23-000012","json":"https://secwatch.observer/filing/0001414475-23-000012.json","markdown":"https://secwatch.observer/filing/0001414475-23-000012.md","text":"https://secwatch.observer/filing/0001414475-23-000012.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/0001414475-23-000012-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/wes-20231116.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T01:03:56.711100+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":"23928d373ef424e070405595246dc01dfc43b71b","claim":"Western Midstream Operating, LP incurred debt of $2,000,000,000 with certain investment banks maturing may not exceed 397 days.","evidence_excerpt":"On November 16, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), entered into dealer agreements (the “ Dealer Agreements ”) with certain investment banks (collectively, the “ Dealers ”) relating to a $2,000,000,000 commercial paper program (the “ CP Program ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/0001414475-23-000012-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Principal","value":"$2,000,000,000"},{"label":"Counterparty","value":"certain investment banks"},{"label":"Maturity","value":"may not exceed 397 days"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a31320e5a783029a88b1a3f6c613812fde41e126","claim":"Western Midstream Operating, LP entered into Dealer Agreements with certain investment banks valued at $2,000,000,000 (effective 2023-11-16).","evidence_excerpt":"On November 16, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), entered into dealer agreements (the “ Dealer Agreements ”) with certain investment banks (collectively, the “ Dealers ”) relating to a $2,000,000,000 commercial paper program (the “ CP Program ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/0001414475-23-000012-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"certain investment banks"},{"label":"Value","value":"$2,000,000,000"},{"label":"Effective","value":"2023-11-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}