HOUSTON, Aug. 12,
2024 /PRNewswire/ -- Western Midstream Partners, LP
(NYSE: WES) ("WES") announced today the commencement of
an underwritten secondary public offering of 19,000,000 common
units representing limited partner interests in WES ("Common
Units") by affiliates of Occidental (NYSE: OXY) (the "Selling
Unitholders"). The Selling Unitholders intend to grant Barclays, as
the underwriter, a 30-day option to purchase up to 2,850,000
additional Common Units from the Selling Unitholders. WES is
not selling any Common Units in the offering and will not receive
any proceeds from the sale of Common Units in the offering. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed.
Barclays is acting as the sole book-running manager for the
offering. The offering will be made only by means of the prospectus
supplement and accompanying base prospectus, which is part of a
shelf registration statement that became effective on March 30, 2023, copies of which may be obtained
from Barclays Capital Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, by phone at 1-888-603-5847 or by email at
barclaysprospectus@broadridge.com. An electronic copy of the
prospectus supplement and accompanying base prospectus is available
from the U.S. Securities and Exchange Commission's website at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP ("WES") is a master limited
partnership formed to develop, acquire, own, and operate midstream
assets. With midstream assets located in Texas, New
Mexico, Colorado,
Utah, and Wyoming, WES is engaged in the business of
gathering, compressing, treating, processing, and transporting
natural gas; gathering, stabilizing, and transporting condensate,
natural-gas liquids, and crude oil; and gathering and disposing of
produced water for its customers. In its capacity as a natural-gas
processor, WES also buys and sells natural gas, natural-gas
liquids, and condensate on behalf of itself and its customers under
certain gas processing contracts. A substantial majority of WES's
cash flows are protected from direct exposure to commodity price
volatility through fee-based contracts.
This news release contains forward-looking
statements. WES and its general partner believe that their
expectations are based on reasonable assumptions. No assurance,
however, can be given that such expectations will prove to have
been correct. A number of factors could cause actual results to
differ materially from the projections, anticipated results or
other expectations expressed in this news release, including risks
and uncertainties associated with market conditions as they relate
to the offering and the Selling Unitholders' ability to close
successfully on the offering. See "Risk Factors" in WES's
Annual Report on Form 10-K for the year
ended December 31, 2023, Quarterly Reports on Form
10-Q for the quarters ended March 31,
2024, and June 30,
2024, and other public filings
and press releases.
Except as required by law, WES does not
undertake the obligation to publicly update
or revise any forward-looking statements.
WESTERN MIDSTREAM CONTACTS
Daniel Jenkins
Director, Investor
Relations
Investors@westernmidstream.com
866-512-3523
Rhianna Disch
Manager, Investor Relations
Investors@westernmidstream.com
866-512-3523
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SOURCE Western Midstream Partners, LP