---
schema_version: "secwatch.filing_event.v1"
accession: "0001423902-23-000034"
form_type: "8-K"
ticker: "WES"
cik: "0001423902"
company_name: "Western Midstream Partners, LP"
filed_at: "2023-04-10T23:59:59+00:00"
generated_at: "2026-06-17T04:03:23.781678+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Western Midstream Operating enters $2B revolving credit facility maturing April 2028

## Summary
- Fourth Amended and Restated Revolving Credit Agreement for up to $2 billion, with an accordion to increase to $2.5 billion.
- Facility matures April 6, 2028, extendable by one year twice; replaces 2018 credit agreement.
- SOFR loans priced at Adjusted Term SOFR plus an applicable margin ranging from 1.00% to 1.70%.
- Leverage covenant set at 5.00x consolidated debt/EBITDA (5.50x for 270 days following certain acquisitions).
- Facility fee ranges from 0.125% to 0.300% per annum on total commitments.

## SEC filing metadata
- accession: 0001423902-23-000034
- form_type: 8-K
- ticker: WES
- cik: 0001423902
- company_name: Western Midstream Partners, LP
- filed_at: 2023-04-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000034/0001423902-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000034/wes-20230406.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001423902-23-000034
- JSON: https://secwatch.observer/filing/0001423902-23-000034.json
- Plain text: https://secwatch.observer/filing/0001423902-23-000034.txt

## Key facts
- Debt Financings
  Western Midstream Partners, LP incurred revolving credit of up to $2 billion with Wells Fargo Bank, National Association at Adjusted Term SOFR plus an applicable margin ranging from 1.00% to 1.70% maturing April 6, 2028.
  - Instrument: revolving credit
  - Principal: up to $2 billion
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Adjusted Term SOFR plus an applicable margin ranging from 1.00% to 1.70%
  - Maturity: April 6, 2028
  - Event: incurrence
  source text: The Fourth A&R Credit Agreement replaces WES Operating's Third Amended and Restated Revolving Credit 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000034/0001423902-23-000034-index.htm
- Material Agreements
  Western Midstream Partners, 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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and certain financial institutions as lenders
  - Value: $2 billion
  - Effective: 2023-04-06
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000034/0001423902-23-000034-index.htm

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