Western Midstream Partners LP is a publicly traded midstream energy company that operates in the United States. The company was founded in 2008 as part of a corporate restructuring by Anadarko Petroleum Corporation, a major oil and gas exploration company. Originally known as Western Gas Equity Partners, LP, it changed its name to Western Midstream Partners LP in 2019.
As a midstream energy company, Western Midstream Partners LP is primarily involved in the gathering, processing, and transportation of natural gas, crude oil, and other hydrocarbons. They own and operate a network of pipelines, processing plants, and storage facilities that facilitate the movement of these energy products from production areas to end markets.
Western Midstream Partners LP is a master limited partnership (MLP) and is listed on the New York Stock Exchange (NYSE) under the ticker symbol "WES." MLPs are a tax-advantaged corporate structure commonly used by energy companies, as they offer certain tax benefits and are required to distribute a significant portion of their cash flow to investors in the form of dividends.
The company's operations are primarily focused on major shale basins, including the Permian Basin, the Rocky Mountains, and the Appalachian region. They provide critical midstream services to some of the leading oil and gas producers in the United States, helping them to efficiently transport and process their energy products.
Western Midstream Partners LP's strategic location in key energy-producing regions and its extensive network of pipelines and facilities make it an essential player in the midstream energy sector. By providing vital infrastructure for the transportation and processing of energy products, the company plays a crucial role in supporting the U.S. energy industry and meeting the nation's growing energy needs.