---
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"
generated_at: "2026-06-08T01:03:56.711100+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Western Midstream Operating establishes $2B commercial paper program

## Summary
- $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.

## SEC filing metadata
- accession: 0001414475-23-000012
- form_type: 8-K
- cik: 0001414475
- company_name: Western Midstream Operating, LP
- filed_at: 2023-11-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001414475-23-000012
- JSON: https://secwatch.observer/filing/0001414475-23-000012.json
- Plain text: https://secwatch.observer/filing/0001414475-23-000012.txt

## Key facts
- Debt Financings
  Western Midstream Operating, LP incurred debt of $2,000,000,000 with certain investment banks maturing may not exceed 397 days.
  - Principal: $2,000,000,000
  - Counterparty: certain investment banks
  - Maturity: may not exceed 397 days
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/0001414475-23-000012-index.htm
- Material Agreements
  Western Midstream Operating, LP entered into Dealer Agreements with certain investment banks valued at $2,000,000,000 (effective 2023-11-16).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain investment banks
  - Value: $2,000,000,000
  - Effective: 2023-11-16
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1414475/000141447523000012/0001414475-23-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.