HOUSTON, Jan. 22, 2019 /PRNewswire/ -- Western Gas Partners, LP (WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.980 per unit for the fourth quarter of 2018, resulting in a full-year 2018 distribution increase of 7-percent over the full-year 2017. This distribution represents a 2-percent increase over the prior quarter and a 7-percent increase over the fourth quarter of 2017. WES's fourth quarter 2018 distribution is payable on February 13, 2019, to unitholders of record at the close of business on February 1, 2019.
Western Gas Equity Partners, LP (WGP) also announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.6025 per unit for the fourth quarter of 2018, resulting in a full-year 2018 distribution increase of 12-percent over the full-year 2017. This distribution represents a 1-percent increase over the prior quarter and a 10-percent increase over the fourth quarter of 2017. WGP's fourth quarter 2018 distribution is payable on February 21, 2019, to unitholders of record at the close of business on February 1, 2019.
The Partnerships plan to report their fourth-quarter and full-year 2018 results after the market closes on Thursday, February 14, 2019. Management will host a conference call on Friday, February 15, 2019, at 11 a.m. CST (12 p.m. EST) to discuss the quarterly and annual results. The full text of the release announcing the results will be available on the Partnerships' website at www.westerngas.com.
Fourth-Quarter and Full-Year 2018 Results
Friday, February 15, 2019
11 a.m. CST (12 p.m. EST)
Dial-in number: 877-883-0383
International dial-in number: 412-902-6506
Participant access code: 8494579
Individuals who would like to participate should dial the applicable dial-in number listed above approximately 15 minutes before the scheduled conference call time and enter the access code when prompted.
To access the live audio webcast of the conference call, please visit the investor relations section of the Partnerships' website at www.westerngas.com. A replay of the conference call will also be available on the website for two weeks following the call.
Western Gas Partners, LP ("WES") is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, natural gas liquids and crude oil; and gathering and disposing of produced water for Anadarko, as well as for third-party customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs and condensate on behalf of itself and as agent for its customers under certain of its contracts.
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.
For more information about Western Gas Partners, LP, Western Gas Equity Partners, LP, and Western Gas Flash Feed updates, please visit www.westerngas.com.
Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Western Gas Contact
Jack W. Spinks
Manager, Investor Relations
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