Western Midstream Announces New Officers
ANNOUNCES THIRD-QUARTER 2019 DISTRIBUTION AND EARNINGS CONFERENCE CALL
HOUSTON, Oct. 17, 2019 /PRNewswire/ -- Today, Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced senior management changes. Effective today, Michael C. ("Mike") Pearl has been named Senior Vice President and Chief Financial Officer, Charles G. ("Chuck") Griffie has been named Senior Vice President, Operations and Engineering, Robert W. ("Bob") Bourne has been named Senior Vice President and Chief Commercial Officer, and Catherine A. Green has been named Vice President and Chief Accounting Officer of the general partner of WES.
Pearl succeeds Jaime R. Casas who has transitioned to Vice President and Treasurer of Occidental Petroleum Corporation (NYSE:OXY) ("Occidental"). Pearl joined Anadarko Petroleum Corporation ("Anadarko") in 2004 and has served in various leadership positions within Anadarko's accounting and finance organization including Director, Corporate Tax, Corporate Controller, Vice President, Finance and Treasurer, Senior Vice President and Chief Financial Officer of the general partner of Western Gas Partners, LP, and most recently as Anadarko's Senior Vice President, Investor Relations.
Griffie joined Anadarko in connection with its 2006 acquisition of Western Gas Resources, Inc. At Anadarko, Griffie held various operational leadership positions including U.S. Onshore Business Advisor, Eagleford Operations Manager, Appalachian Basin Midstream Manager, Director, Midstream Engineering, and most recently as Senior Vice President, U.S. Onshore Field Operations upon returning to Anadarko from Huntley & Huntley Energy Exploration where he served as Senior Vice President, Midstream and Marketing from June 2016 to December 2018.
Bourne joined Occidental in August 2019 and brings more than 30 years of experience in midstream corporate business development to WES. Bourne led midstream corporate development efforts at Shell Trading (formerly Coral Energy), American Midstream Partners, Gas Solutions, Energy Transfer Partners, and Crosstex Energy (now EnLink Midstream). Most recently, Bourne served as Vice President, Business Development, Midstream and Marketing at Apache Corporation and as a director of Altus Midstream Company.
Green has more than 20 years of accounting and audit experience and joined Anadarko in 2001. During her 18 years at Anadarko, Green has served in a variety of diverse roles within Anadarko's accounting and finance organization including internal audit, technical U.S. GAAP accounting, internal controls, and most recently as Director, Expenditure Accounting.
"The board is very pleased with these officer appointments and believes this management team is well-positioned to maximize the value of WES's asset base, which benefits all unitholders, including Occidental," said Glenn Vangolen, Chairman of the Board of WES's general partner.
"I am excited to add the remaining members of the Western Midstream management team as we transition into our next stage of growth," said Michael P. Ure, CEO. "I have the utmost confidence the assembled management team will focus on enhancing the value of WES's premier asset footprint, which is well positioned to support Occidental's U.S. onshore development plans in the Delaware and DJ basins and to attract sustainable third-party volumes by leveraging our existing midstream infrastructure to establish WES as a preferred midstream service provider for all producers."
THIRD-QUARTER 2019 DISTRIBUTION AND EARNINGS CONFERENCE CALL
WES announced today the board of directors of its general partner declared a quarterly cash distribution of $0.620 per unit for the third-quarter of 2019. This distribution represents WES's 27th consecutive quarterly distribution increase and is consistent with WES's 2019 annual distribution-growth guidance range of 5 percent to 6 percent. WES's third-quarter 2019 distribution is payable Nov. 13, 2019, to unitholders of record at the close of business Nov. 1, 2019.
The Partnership plans to report its third-quarter 2019 results after market close Monday, Nov. 4, 2019. Management will host a conference call Tuesday, Nov. 5, 2019, at 1 p.m. CST (2 p.m. EST) to discuss WES's quarterly results. The full text of the release announcing the results will be available on the Partnership's website at www.westernmidstream.com.
Third-Quarter 2019 Results
Tuesday, Nov. 5, 2019
1 p.m. CST (2 p.m. EST)
Dial-in number: 877-883-0383
International dial-in number: 412-902-6506
Participant access code: 1868618
Individuals that would like to participate in WES's scheduled third-quarter earnings call should dial the applicable dial-in number listed above approximately 15 minutes prior to 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 Partnership's website at www.westernmidstream.com. A replay of the conference call will also be available on the website for two weeks following the call.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP ("WES") is a Delaware master limited partnership formed 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 its 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.
For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.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 Midstream 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 Midstream Partners, LP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
WESTERN MIDSTREAM CONTACTS
Kristen Shults
Vice President, Investor Relations and Communications
[email protected]
832.636.6000
Jack Spinks
Manager, Investor Relations
[email protected]
832.636.6000
SOURCE Western Midstream Partners, LP
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