HOUSTON, April 22, 2016 /PRNewswire/ -- Western Gas Partners, LP (NYSE: WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.815 per unit for the first quarter of 2016. This distribution represents a 2-percent increase over the prior quarter and a 12-percent increase over the first quarter of 2015. WES's first quarter 2016 distribution is payable on May 13, 2016, to unitholders of record at the close of business on May 2, 2016.
Western Gas Equity Partners, LP (NYSE: WGP) also announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.42375 per unit for the first quarter of 2016. This distribution represents a 5-percent increase over the prior quarter and a 24-percent increase over the first quarter of 2015. WGP's first quarter 2016 distribution is payable on May 22, 2016, to unitholders of record at the close of business on May 2, 2016.
The Partnerships plan to report their first-quarter 2016 results after the market closes on Tuesday, May 3, 2016. Management will host a conference call on Wednesday, May 4, 2016, at 11 a.m. CDT (12 p.m. EDT) to discuss quarterly results. The full text of the release announcing the results will be available on the Partnerships' website at www.westerngas.com.
First-Quarter 2016 Results
Wednesday, May 4, 2016
11 a.m. CDT (12 p.m. EDT)
Dial-in number: 844-836-8745
International dial-in number: 412-317-5439
Individuals who would like to participate should dial the applicable dial-in number listed above approximately 15 minutes before the scheduled conference call time. Pre-registration is available through the investor relations page at www.westerngas.com. Pre-registrants will be issued a personal identification number to use when dialing in to the live conference call, which will enable the participant to bypass the operator and gain immediate access to the call.
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 energy assets. With midstream assets located in the Rocky Mountains, the Mid-Continent, North-central Pennsylvania and Texas, WES is engaged in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as for other producers and customers.
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 PARTNERS, LP and WESTERN GAS EQUITY PARTNERS, LP CONTACT:
Benjamin Fink, CFA
SVP, Chief Financial Officer and Treasurer
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SOURCE Western Gas Partners, LP