Western Midstream Partners, LP: insider trades · United States · SEC (Form 4)

About Western Midstream Partners, LP

Western Midstream Partners, LP (NYSE: WES) is a U.S.-listed midstream energy partnership headquartered in The Woodlands, Texas, just north of Houston, United States. The company was formed in 2012 as a master limited partnership to acquire, own, develop, and operate midstream assets, but its operating roots go back to 2007, when its predecessor was established to build a dedicated infrastructure platform. WES became a standalone midstream business in late 2019, after separation-related agreements with Occidental Petroleum gave it independent operational control and strategic flexibility. WES’s business model is centered on essential infrastructure services for oil and gas producers. The company gathers, compresses, treats, processes, and transports natural gas; gathers, stabilizes, and transports condensate, natural gas liquids (NGLs), and crude oil; and gathers, transports, recycles, treats, and disposes of produced water. In addition, under certain processing contracts, WES buys and sells natural gas, NGLs, and condensate on its own behalf and for customers. This asset base is largely fee-based, which helps reduce direct sensitivity to commodity price swings and supports relatively stable cash generation. Geographically, Western Midstream is strongest in the Delaware Basin in West Texas and New Mexico and in the DJ Basin in northeastern Colorado. The company also has assets and investments in Utah, Wyoming, and South Texas. Its competitive position comes from a dense, integrated infrastructure footprint, long-lived customer relationships, and a mix of gathering, processing, crude, and produced-water capabilities that allow it to serve producers across multiple layers of the value chain. In the Delaware Basin, WES is one of the major natural-gas processors and a meaningful three-stream midstream operator, combining gas, oil, and produced-water services. Recent developments have been strategically important. In 2025, WES announced and then completed the acquisition of Aris Water Solutions, significantly expanding its produced-water platform and adding a New Mexico operating footprint. The company also sanctioned Pathfinder, a long-haul produced-water pipeline, and additional gas-processing capacity in the Delaware Basin. In February 2026, WES reported record full-year 2025 results, including higher throughput and record Adjusted EBITDA. In May 2026, it announced the planned acquisition of Brazos Delaware, a large privately held gathering and processing platform in the Texas Delaware Basin. For investors, WES stands out as a NYSE-listed U.S. midstream partnership with scale, fee-based cash flows, and continued growth execution in key Permian and Rocky Mountain basins.