Landon Capital

Western Midstream Partners, LP (NYSE:WES), a Delaware-based master limited partnership, has issued a public statement to dispel recent media speculation regarding a potential sales process. The company clarified that it has not initiated any such process and has not engaged bankers or advisors for this purpose. This announcement follows reports suggesting a possible sale, fueled by Occidental Petroleum Corporation’s (NYSE:OXY) indication of interest in divesting certain assets.

However, Western Midstream refrained from commenting on the specifics of Occidental Petroleum’s plans or whether they involve Occidental’s ownership interest in Western Midstream. Western Midstream specializes in developing, acquiring, owning, and operating midstream assets primarily in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico. Its services encompass various activities related to natural gas, condensate, natural gas liquids, and crude oil, including gathering, compressing, treating, processing, and transporting.

Additionally, the partnership manages produced water disposal and engages in trading natural gas and related products through certain gas processing contracts. With a significant portion of its revenues derived from fee-based contracts, Western Midstream is structured to withstand commodity price fluctuations, ensuring a stable cash flow. The clarification aims to alleviate any uncertainty among investors and stakeholders sparked by recent media reports.