WESTERN MIDSTREAM ANNUAL REPORT. Occidental is in the process of selling off its stake in the MLP . LNG player Santos has expanded its position in northern Australia following an agreement with Conoco...After a dearth of project sanctions in the last few years, Australian project FIDs are back...The sale is expected to close in the first quarter of 2019, concurrently with the closing of the merger, Anadarko said.The acquired assets include the Bone Spring gas plant (50 percent non-operated interest), and the MiVida gas plant (50 percent non-operated interest) in the Delaware Basin of West Texas.Western gas Partners is currently completing its merger with Western Gas Equity Partners, which will result in a simplified midstream structure.Under the terms of the asset sale transaction, WES will acquire substantially all of Anadarko’s remaining midstream assets, which are largely associated with Anadarko’s two U.S. onshore oil plays in the Delaware and DJ Basins.Photo: Image courtesy of AnadarkoTC Energy Corporation has entered into an agreement to sell a 65 percent equity interest in the Coas...Under the agreement, Anadarko is set to receive a $2 billion cash payment with the balance to be paid in new Western Gas equity.Dominion Energy has completed the transfer of a 25 percent non-controlling equity interest in Cove P...With the equity portion of the payment, Anadarko will maintain operating control of the limited partnership with approximately 55.5 percent ownership. Occidental Casting Off Anadarko’s Legacy Western Midstream Partnership. “We would be willing to consider the optimization, monetization, of that sooner rather than later depending on the potential buyer.”Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Occidental is working with a financial adviser to solicit offers for half of Anadarko’s interest in Western Midstream and Western Midstream’s general partner, or management entity, said the people, who asked to not be identified because the matter isn’t public.The stakes could draw interest from private equity firms and rival pipeline operators such as Oneok Inc., Enterprise Products Partners LP and Energy Transfer LP, one of the people said. No decision has been made and Occidental could opt to not proceed with a sale, they said.Representatives for Occidental, Anadarko and Enterprise Products declined to comment.
We contract with Occidental to manage and operate our assets. That would leave Occidental with a minority stake in Western Midstream, the people said, enabling it to keep financial and operational interest in infrastructure for getting its oil and gas to market.Western Midstream rose 2.2% to close at $29.37 in New York trading Monday, giving The Woodlands, Texas-based company a market value of about $13.3 billion.“We don’t really feel like we have to necessarily own infrastructure to take advantage of it,” Vicki Hollub, Occidental’s chief executive officer, said in a conference call with analysts on May 6. By Carolyn Davis. The Woodlands-based Western Midstream Partners LP (NYSE:WES), a master limited partnership established by Anadarko Petroleum Corp. (NYSE: … Green has served as Vice President and Chief Accounting Officer of the general partner of Western Midstream Partners, LP since October 2019.
Western Midstream is committed to providing high-quality midstream service at a competitive price. Representatives for Oneok and Energy Transfer didn’t respond to requests for comment.A potential sale could help Occidental meet its goal of selling $10 billion to $15 billion of assets to pay down debt over the next two years. Western Midstream Partners is a master limited partnership Occidental acquired as part of the deal to buy Anadarko. Western Midstream Partners Asset. The company has already agreed to sell Anadarko’s operations in Africa for $8.8 billion to Total SA.
Ms. Green has more than 20 years of accounting and audit experience and began her career with Anadarko in 2001. Catherine A. Western Midstream Partners, LP is a growth-oriented Delaware master limited partnership formed to acquire, own, develop and operate midstream energy assets.
View Asset Details. 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. Western gas Partners is currently completing its merger with Western Gas Equity Partners, which will result in a simplified midstream structure. Western Midstream Partners LP, the pipeline operator that it’s poised to inherit through its takeover of Anadarko Petroleum Corp. , according to people familiar with the matter.
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