stockrowWestern Midstream Partners, LP
WES Energy Oil & Gas Midstream
Western Midstream Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, up 6.61% from fiscal 2024.
- Revenue
- +25.4%
- EPS
- −9.20%
- Free cash flow
- +44.5%
- Total debt
- +32.0%
Quarter to September 2026, against a year earlier
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Western Midstream Partners, LP 10-Q filed Nov 4, 2026
Red flags
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Receivables outpacing revenue
Receivables grew 55.4% while revenue grew 25.4% year over year
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Aug 5, 2026: 12 added · 8 removed · 45 modified; 15 with only figures updated
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Modified
The Partnership’s assets include assets owned and ownership interests accounted for by us under the equity method of accounting, through our 98.2% partnership interest in WES Operating, as of
JuneSeptember 30, 2026. Amounts attributable to noncontrolling interests presented in this Item 2 consist of (i) the 25% third-party interest in Chipeta for all periods presented, and only for natural-gas assets for throughput attributable to WES, and (ii) the 1.8%,1.91.8%, and 2.0% limited partner interest in WES Operating as ofJuneSeptember 30, 2026,March 31June 30, 2026, andJuneSeptember 30, 2025, respectively, owned by an Occidental subsidiary. See Note 1—Description of Business and Basis of Presentation and Note 7—Equity Investments in the Notes to Consolidated Financial Statements under Part I, Item 1 of this Form 10-Q. We also own and control the entire non-economic general partner interest in WES OperatingGP, and our general partner is owned by Occidental.