{"schema_version":"secwatch.filing_event.v1","accession":"0001423902-26-000029","form_type":"8-K","ticker":"WES","cik":"0001423902","company_name":"Western Midstream Partners, LP","filed_at":"2026-02-18T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.048951+00:00","generated_at":"2026-05-16T01:59:42.640951+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Western Midstream posts record 2025 Adj. EBITDA $2.48B, beats guidance; 2026 outlook projects ~5% growth","bullets":["Full-year 2025 Adj. EBITDA $2.481B (6% YoY), Free Cash Flow $1.526B (15% YoY), both above guidance ranges.","Q4 net income $187.2M, Adj. EBITDA $635.6M; distribution held at $0.910/unit, board to consider $0.93/unit increase.","2026 Adj. EBITDA guide $2.5B-$2.7B (midpoint ~5% growth); capex cut to $925M midpoint from prior $1.1B.","Record 2025 natural-gas throughput 5.2 Bcf/d; produced-water +40% on Aris acquisition.","Post-year-end renegotiated Delaware Basin contracts with Occidental and ConocoPhillips to fixed-fee structure."],"urls":{"canonical":"https://secwatch.observer/filing/0001423902-26-000029","json":"https://secwatch.observer/filing/0001423902-26-000029.json","markdown":"https://secwatch.observer/filing/0001423902-26-000029.md","text":"https://secwatch.observer/filing/0001423902-26-000029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1423902/000142390226000029/0001423902-26-000029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1423902/000142390226000029/wes-20260218.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T01:59:42.640951+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}