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Western Gas Partners LP

SIC 4922 · Natural Gas Transmission
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Western Gas Partners LP

CIK:0001414475|SEC Filings
v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues and other        
Total revenues and other [1] $ 1,224,719 $ 942,322 $ 2,348,298 $ 1,859,438
Equity income, net – related parties 21,536 27,128 36,312 47,563
Operating expenses        
Cost of product 117,440 42,681 220,324 84,173
Operation and maintenance 285,353 224,629 549,594 451,143
General and administrative 85,929 66,146 161,079 132,932
Property and other taxes 19,736 17,805 39,222 35,631
Depreciation and amortization 205,945 172,113 406,371 342,573
Long-lived asset and other impairments 551 686 1,159 689
Total operating expenses [2] 714,954 524,060 1,377,749 1,047,141
Gain (loss) on divestiture and other, net [3] (4,598) (911) (10,965) (5,578)
Operating income (loss) 526,703 444,479 995,896 854,282
Interest expense (108,984) (95,170) (222,374) (192,463)
Gain (Loss) on Extinguishment of Debt (150) 0 (150) 0
Other income (expense), net 2,834 3,692 9,564 11,169
Income (loss) before income taxes 420,403 353,001 782,936 672,988
Income tax expense (benefit) 5,152 2,239 8,653 5,674
Net income (loss) 415,251 350,762 774,283 667,314
Net income (loss) attributable to noncontrolling interests 11,699 9,082 20,455 16,627
Net income (loss) attributable to Western Midstream Partners, LP 403,552 341,680 753,828 650,687
Limited partners' interest in net income (loss):        
Net income (loss) attributable to Western Midstream Partners, LP 403,552 341,680 753,828 650,687
General partner interest in net (income) loss (8,668) (7,930) (16,554) (15,100)
Limited partners' interest in net income (loss) [4] $ 394,884 $ 333,750 $ 737,274 $ 635,587
Net income (loss) per common unit - basic [4] $ 0.99 $ 0.88 $ 1.85 $ 1.67
Net income (loss) per common unit - diluted [4] $ 0.99 $ 0.87 $ 1.84 $ 1.66
Weighted-average common units outstanding - basic [4] 398,043 381,328 398,566 381,158
Weighted-average common units outstanding - diluted [4] 399,381 382,326 400,030 382,398
Service Revenues - Fee Based [Member]        
Revenues and other        
Total revenues and other $ 980,096 $ 851,419 $ 1,913,398 $ 1,674,616
Service Revenues - Product Based [Member]        
Revenues and other        
Total revenues and other 112,641 50,442 201,408 109,694
Product Sales [Member]        
Revenues and other        
Total revenues and other 124,763 40,280 224,379 74,749
Other [Member]        
Revenues and other        
Total revenues and other $ 7,219 $ 181 $ 9,113 $ 379
[1] Total revenues and other includes related-party amounts of $570.0 million and $1.1 billion for the three and six months ended June 30, 2026, respectively, and $576.2 million and $1.1 billion for the three and six months ended June 30, 2025, respectively. See Note 6.
[2] Total operating expenses includes related-party amounts of $41.0 million and $36.4 million for the three and six months ended June 30, 2026, respectively, and $(7.3) million and $(19.4) million for the three and six months ended June 30, 2025, respectively, all primarily related to changes in imbalance positions. See Note 6.
[3] See Note 6.
[4] See Note 5.