Western Midstream renegotiates Delaware Basin gas contracts, redeems $610M common units

Western Midstream Partners, LP

Amends Occidental gathering contract from cost-of-service to fixed-fee with new MVCs through 2027.
Occidental transfers 15.3M WES common units (~$610M) for redemption; its ownership falls to ~40%.
ConocoPhillips signs fixed-fee gathering/processing deal for existing volumes, cutting related-party revenue >10%.
Cumulative operating cash flow reduction expected to be offset by distribution savings from unit redemption.
~9% of total revenue remains cost-of-service; remaining cost-of-service terms extend into mid-late 2030s.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Western Midstream Partners, LP amended GGA Amendment with Anadarko E&P Onshore LLC (a subsidiary of Occidental Petroleum Corporation) (effective 2026-01-16).

Action: amendment
Agreement: supply
Counterparty: Anadarko E&P Onshore LLC (a subsidiary of Occidental Petroleum Corporation)
Effective: 2026-01-16

Exact text from the filing

On January 16, 2026, Delaware Basin Midstream LLC (“DBM”), a subsidiary of Western Midstream Partners, LP (“WES”), entered into an amendment (“GGA Amendment”) to its Delaware Basin gas gathering agreement with Anadarko E&P Onshore LLC (“AEP”), a subsidiary of Occidental Petroleum Corporation (“Occidental”), dated effective January 1, 2018

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Western Midstream Partners, LP entered into Unit Redemption Agreement with subsidiaries of Occidental Petroleum Corporation (effective 2026-01-16).

Action: entry
Agreement: equity purchase
Counterparty: subsidiaries of Occidental Petroleum Corporation
Effective: 2026-01-16

Exact text from the filing

On January 16, 2026, and in connection with the GGA Amendment and related transactions—including an agreement between DBM and a subsidiary of ConocoPhillips pursuant to which DBM will gather and process certain volumes of natural gas already existing on DBM’s system, and conforming modifications to the terms of the associated processing arrangements between subsidiaries of WES and Occidental—WES and subsidiaries of Occidental also entered into a unit redemption agreement (“Unit Redemption Agreement”) providing for the transfer to, and redemption by WES, on February 3, 2026 of approximately 15.3 million WES common units.

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317 material agreements filed in the last 30 days. Browse all material agreements →

Western Midstream Partners, LP filing history →

Source: SEC EDGAR

accession 0001423902-26-000004

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