Western Midstream Partners, LP Reports Earnings Results for the First Quarter Ended March 31, 2024
May 08, 2024 at 04:15 pm EDT
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Western Midstream Partners, LP reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 887.73 million compared to USD 733.98 million a year ago. Net income was USD 559.5 million compared to USD 198.96 million a year ago.
Basic earnings per share from continuing operations was USD 1.47 compared to USD 0.52 a year ago. Diluted earnings per share from continuing operations was USD 1.47 compared to USD 0.52 a year ago.
Western Midstream Partners, LP acquires, owns, develops and operates midstream assets. The Company is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas, gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil, and gathering and disposing of produced water. The Companyâs midstream assets are located in Texas, New Mexico, Colorado, Utah and Wyoming. In addition, in its capacity as a processor of natural gas, the Company also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain contracts. The Companyâs subsidiaries include Western Midstream Operating GP, LLC, Western Midstream Services, LLC, Western Midstream Services Holdings, LLC and Western Midstream Operating, LP.