Western Midstream Partners (WES) Fireside chat summary
Event summary combining transcript, slides, and related documents.
Fireside chat summary
24 Feb, 2026Introduction and agenda
Discussion focused on fourth quarter and full year 2025 performance, efficiency initiatives, cost-saving strategies, and 2026 guidance.
Current industry trends
Negative gas prices at Waha impacted Q4 as private producers curtailed volumes.
Producer forecasts for 2026 indicate declines in activity in the Powder River and DJ basins, with some changes in the Delaware Basin.
Challenges and overcoming obstacles
Managed negative revenue recognition adjustments of nearly $30 million in Q4 2025.
Cost-cutting efforts in 2025 led to an 8% O&M decrease in Q3 year-over-year and a 12% decrease in Q4 year-over-year, excluding Aris.
Continued cost discipline expected to offset rising utility costs and integration of Aris assets.
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