Western Midstream Partners, LP (WES): M&A transaction — Western Midstream completes acquisition of Aris Water Solutions for $415M cash + 26.6M units

Western Midstream Partners, LP

Each Aris share converted into 0.625 WES units, $25 cash (subject to proration), or 0.45 units + $7 cash.
Final elections: 14.4M shares elected all stock, 33.8M all cash (prorated to ~$10 cash + 0.375 units), 11.0M mixed.
Aris 7.250% Senior Notes due 2030 remain outstanding and assumed by WES OpCo.
WES becomes one of largest three-stream midstream providers in Delaware Basin; expects to lead integrated water solutions.
Total consideration ~28% cash, ~72% equity; $415M cash and ~26.6M WES common units issued.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Western Midstream Partners, LP completed an acquisition involving Aris Water Solutions, Inc. for $415.0 million in cash and approximately 26.6 million Common Units (closed 2025-10-15).

Action: acquisition
Counterparty: Aris Water Solutions, Inc.
Consideration: $415.0 million in cash and approximately 26.6 million Common Units
Closing: 2025-10-15

Exact text from the filing

of 11,017,951 shares of Aris Class A Common Stock and Aris OpCo Stapled Units elected to receive the Mixed Election Consideration. As a result of these elections, approximately 26.6 million Common Units were issued and $415.0 million in cash was paid to Aris securityholders as a part of the Merger Consideration (excluding the cash consideration payable in connection

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Western Midstream Partners, LP filing history →

Source: SEC EDGAR

accession 0001423902-25-000097

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