HOUSTON, April 17, 2018 /PRNewswire/ -- Western Gas Partners, LP (NYSE: WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.9350 per unit for the first quarter of 2018. This distribution represents a 2-percent increase over the prior quarter and a 7-percent increase over the first quarter of 2017. WES's first quarter 2018 distribution is payable on May 14, 2018, to unitholders of record at the close of business on May 2, 2018.
Western Gas Equity Partners, LP (NYSE: WGP) also announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.56875 per unit for the first quarter of 2018. This distribution represents a 4-percent increase over the prior quarter and a 16-percent increase over the first quarter of 2017. WGP's first quarter 2018 distribution is payable on May 24, 2018, to unitholders of record at the close of business on May 2, 2018.
The Partnerships plan to report their first-quarter 2018 results after the market closes on Tuesday, May 1, 2018. Management will host a conference call on Wednesday, May 2, 2018, at 11 a.m. CDT (12 p.m. EDT) to discuss quarterly results. The full text of the release announcing the results will be available on the Partnerships' website at www.westerngas.com.
First-Quarter 2018 Results
Wednesday, May 2, 2018
11 a.m. CDT (12 p.m. EDT)
Dial-in number: 877-883-0383
International dial-in number: 412-902-6506
Participant access code: 8107313
Individuals who would like to participate should dial the applicable dial-in number listed above approximately 15 minutes before the scheduled conference call time and enter the access code when prompted.
To access the live audio webcast of the conference call, please visit the investor relations section of the Partnerships' website at www.westerngas.com. A replay of the conference call will also be available on the website for two weeks following the call.
Western Gas Partners, LP ("WES") is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, natural gas liquids and crude oil; and gathering and disposing of produced water for Anadarko, as well as for third-party producers and customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs or condensate on behalf of itself and as agent for its producers under certain of its contracts.
Western Gas Equity Partners, LP ("WGP") is a Delaware master limited partnership formed by Anadarko to own the following types of interests in WES: (i) the general partner interest and all of the incentive distribution rights in WES, both owned through WGP's 100% ownership of WES's general partner, and (ii) a significant limited partner interest in WES.
For more information about Western Gas Partners, LP, Western Gas Equity Partners, LP, and Western Gas Flash Feed updates, please visit www.westerngas.com.
Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Western Gas Contact
Jonathon E. VandenBrand
Director, Investor Relations
jon.vandenbrand@anadarko.com
832.636.6000
SOURCE Western Gas Partners, LP