Western Midstream Partners (WES) Fireside chat summary

Introduction and agenda

• Discussion focused on recent contract amendments in the Delaware Basin with Occidental and ConocoPhillips, their financial impacts, and strategic implications.

Current industry trends

• Emphasis on simplifying contract portfolios and diversifying customer bases to reinforce long-term value.

Challenges and overcoming obstacles

• Addressed concerns about recontracting risk and rate reductions as legacy cost-of-service contracts expire.

• Cost reduction initiatives launched to ensure spending aligns with strategic objectives, resulting in an 8% decrease in operations and maintenance costs in Q3 2025 compared to Q3 2024.