Western Midstream Partners


SKU: WES Category:


This is our first report on midstream assets developer, Western Midstream Partners (WES). The company has displayed a healthy financial performance as seen in their third quarter 2023 results. The company has shown improvements in both adjusted gross margin and adjusted EBITDA due to increased throughput from all their operated assets and across all products. This growth was mainly seen for natural gas, crude oil, and NGLs which increased in the third quarter from new production coming online and high-facility operability. This marks the first time in WES’s history where the average, for more than one billion cubic feet per day, of natural gas was gathered from third parties for August and September. This not only illustrates their aim in growing all aspects of the business but also shows the competence of the WES team in attracting new businesses through cost reduction and superior customer service.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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