Western Midstream Partners LP (NYSE:WES)
$ 37.97 0.07 (0.18%) Market Cap: 14.45 Bil Enterprise Value: 21.51 Bil PE Ratio: 10.70 PB Ratio: 4.46 GF Score: 82/100
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Western Midstream Partners LP Fourth-Quarter Post-Earnings Fireside Chat Transcript

Feb 27, 2023 / 09:05PM GMT
Release Date Price: $26.25 (-0.68%)
Daniel Jenkins

Welcome to Western Midstream's Fourth Quarter and Full Year 2022 Post-Earnings Fireside Chat with our Chief Financial Officer, Kristen Shults.

Kristen, let's dive right into it. What were the primary drivers affecting throughput and margin results in the fourth quarter of 2022?

Kristen S. Shults
Western Midstream Partners, LP - SVP, CFO, Head of IR and Senior VP of Finance & Communications - Western Midstream Holdings LLC

Thanks, Daniel. Let's start off with the throughput aspect of your question. So looking at Q3 to Q4, our throughput on the gas side decreased by about 1%. Some of this was due to Winter Storm Elliott, which we saw pop out in the natural gas throughput numbers as well as the produced water numbers. The other aspect on the natural gas was noncore assets and lower throughput from our equity investments.

For crude oil and NGL throughput, we saw that decrease by 9% quarter-over-quarter, primarily resulting from the declines in the DJ Basin and then less throughput from the sale of Cactus II. In fact, we only got 1

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