Western Midstream Partners, LP (WES) Latest Filing Signal

Based on earningsVibe SuperAnalyst™ synthesis of the latest 10-K, Western Midstream Partners, LP's filing signal turned positive.

Western Midstream Partners, LP (WES) is a master limited partnership focused on gathering, processing, treating, and transporting natural gas, crude oil, and NGLs, as well as gathering, transporting, recycling, treating, supplying, and disposing of produced water. The company operates primarily in Texas, New Mexico, Colorado, Utah, and Wyoming, with significant assets in the Delaware, DJ, and Powder River Basins. WES's business model relies heavily on fee-based contracts, with approximately 97% of its natural gas volume and 100% of its crude oil and produced water throughput serviced under these contracts in 2025, mitigating direct commodity price risk. A substantial portion of WES's revenue is derived from its relationship with Occidental Petroleum Corporation, which is also its general partner. In late 2025, WES acquired Aris Water Solutions, Inc. for $2.0 billion, significantly expanding its produced water infrastructure.

Revenue is primarily driven by fee-based contracts for gathering, processing, treating, and transporting natural gas, crude oil, NGLs, and produced water. The company also generates revenue from the sale of residue, NGLs, and condensate.