Western Midstream Partners (WES) Fireside Chat summary

Introduction and agenda

• Discussion focused on Q4 and full-year 2024 results, 2025 outlook, and major projects like the Pathfinder Pipeline.

Current industry trends

• Growth in gas, oil, and water throughput, with water volumes rebounding in Q4 due to less recycling by producers.

• Delaware Basin continues to be a major growth engine, with PRB investments preparing for 2026 expansion.

Challenges and overcoming obstacles

• Managing produced water growth in the Delaware Basin requires innovative disposal solutions to address subsurface strain.

• Strong relationships with landowners and regulatory agencies are crucial for project success and risk management.