Western Midstream Q3 net income $270.8M; raises distribution 2.2%; closes Meritage acquisition

Western Midstream Partners, LP

Record Q3 Adjusted EBITDA $510.9M, net income $270.8M ($0.70/unit).
Base distribution increased 2.2% to $0.5750/unit quarterly ($2.30 annualized).
Repurchased 5.1M units from Oxy for $127.5M; bought back $159.1M near-term notes at ~94% par.
Closed Meritage acquisition in PRB for $885M; expects 2023 EBITDA towards high end of $1.95-2.05B.
Delaware Basin record throughput: nat gas 1.67 Bcf/d, crude/NGL 220 MBbls/d, water 1,101 MBbls/d.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Western Midstream Partners, LP reported third-quarter 2023 results: net income $270.8 million, EPS $0.70 per common unit (diluted). Guidance raised.

Period: third-quarter 2023
Net income: $270.8 million
EPS: $0.70 per common unit (diluted)
Guidance: raised
Result: reported results

Exact text from the filing

Western Midstream Partners, LP issued a press release announcing third-quarter 2023 results.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Western Midstream Partners, LP filing history →

Source: SEC EDGAR

accession 0001423902-23-000064

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