Western Midstream Prices $700 Million Senior Notes Offering

The Houston-based partnership intends to direct the net proceeds from this debt issuance toward retiring outstanding borrowings under its revolving credit facility and commercial paper program. These obligations include funds previously utilized to cover the cash consideration for the acquisition of Brazos Delaware II, LLC. Beyond debt reduction, the company plans to allocate remaining capital to general partnership purposes, specifically covering ongoing capital expenditure requirements.

TD Securities, Barclays Capital, Citigroup Global Markets, and MUFG Securities Americas are serving as joint book-running managers for the transaction. The securities are being issued under a shelf registration statement effective as of June 22, 2026. Western Midstream, which operates critical gathering, processing, and transportation infrastructure across Texas, New Mexico, Colorado, Utah, and Wyoming, maintains a business model largely shielded from commodity price volatility through long-term fee-based contracts.