#United States #Houston #Western Midstream #WES #Solitude Pipeline

Western Midstream Partners Announces Third-Quarter 2026 Financial Results

On November 4, 2026, Western Midstream Partners, LP (NYSE: WES) reported robust financial metrics for the third quarter of 2026, highlighted by a net income attributable to limited partners of $324.8 million, or $0.78 per common unit (diluted). The Partnership also reported an impressive Adjusted EBITDA of $708.3 million and Distributable Cash Flow totaling $512.3 million, both reflecting a positive growth trajectory compared to the previous year's performance.

The quarterly update indicated an operational cash flow of $567.5 million, resulting in a Free Cash Flow of $244.2 million. Western Midstream has announced a stable distribution of $0.930 per unit for this quarter, aligning with the previous quarter's disbursement and translating to an annualized distribution of $3.72 per unit. The company has reaffirmed its financial guidance for the full year, targeting an Adjusted EBITDA range between $2.750 billion and $2.950 billion, with Distributable Cash Flow estimated at $2.050 billion to $2.250 billion. Furthermore, Free Cash Flow is anticipated to range from $1.100 billion to $1.300 billion.

Operational Highlights

During Q3 2026, Western Midstream achieved remarkable production milestones, demonstrating significant throughput increases. The Partnership gathered a record natural-gas throughput of 5.9 Bcf/d, an 8% rise from the previous quarter. A significant contributor to this growth was the Delaware Basin, which recorded a staggering 20% sequential-quarter increase in throughput, totaling 2.6 Bcf/d, primarily driven by the acquisition of Brazos Delaware II, LLC.

Additionally, produced-water throughput in the Delaware Basin showed a consistent 2% sequential increase, averaging 3,047 MBbls/d. Noteworthy is Western Midstream's acquisition of a 7.5% equity interest in the Solitude Pipeline System joint venture with WhiteWater, which is poised to enhance its transport capacity from the Permian Basin to Katy, Texas.

Looking Towards the Future

Western Midstream anticipates that the positive momentum seen in the third quarter will persist into Q4 2026, bolstered by increased producer activity and the contribution from recent acquisitions. The company expects to surpass previously set high-end estimates of capital expenditures for 2026, which are projected between $850 million and $1.0 billion. This uptick is largely attributed to ongoing investments in the Solitude Pipeline and accelerating producer activities.

Management forecasts continued strong performance into 2027, spearheaded by added customer activities, full-year contributions from recently acquired assets, and newly established gathering agreements in the Powder River Basin. A significant portion of future capital expenditures is expected to be directed toward enhancing operations in the Delaware Basin and supporting new business agreements within the Powder River Basin.

Conference Call Details

Western Midstream will conduct a conference call on November 5, 2026, at 9:00 a.m. Central Time to further discuss its Q3 results and outlook for 2026 and beyond. Interested parties can join via the investor relations section of the Partnership's website.

About Western Midstream

Western Midstream Partners, LP specializes in midstream services, including the gathering, processing, treating, and transportation of natural gas, crude oil, and natural gas liquids. The Partnership operates across multiple states, including Texas, New Mexico, Colorado, Utah, and Wyoming, leveraging a diverse portfolio of assets to generate cash flow under fee-based contracts insulated from direct commodity price volatility.

With robust financial performance and strategic operational decisions, Western Midstream Partners remains a key player in the midstream energy sector, committed to delivering value to its unitholders and supporting growth through strategic acquisitions and investments.