14 stories mentioning WESUpdated 20d ago
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Western Midstream Partners (WES) has an average rating of hold and mean price target of $45.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $45.24, Change: $+0.38, Percent Change: +0.85%
Western Midstream Partners (WES) has priced an offering of $700 million of 5.7% senior notes due 2036 at 99.705% of face value, the midstream energy company said late Monday.Closing is expected to occur on June 25.Net proceeds will be used to repay debt under a revolving credit facility and a commercial paper program, and for general business purposes, the company said.
Energy stocks declined late Wednesday afternoon with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.3%.The Philadelphia Oil Service Sector Index lost 2.9%, and the Dow Jones US Utilities Index shed 1.5%.West Texas Intermediate crude oil rose 0.1% to $76.11 a barrel, and global benchmark Brent eased 0.1% to $78.92 a barrel. Henry Hub natural gas futures fell 2.2% to $3.17 per 1 million BTU.In sector news, the US, Iran and mediators are in talks over holding the signing of the memorandum of understanding remotely as early as Wednesday, instead of in-person on Friday, Axios reported. A diplomat from one of the mediating countries told Axios that discussions to speed up the deal are intended to reopen the Strait of Hormuz sooner, since the parties agreed that the strait's opening and the lifting of the US blockade would only take effect after the formal signing.Separately, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 17.2 million barrels in the week ended Friday following a decrease of 15.2 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 8.3 million after a decline of 7.2 million in the previous week, a larger drop than the 3 million expected in a survey compiled by Bloomberg.The International Energy Agency lowered its global oil demand forecast for 2026 amid war-driven headwinds while projecting a rebound next year. The agency now expects oil consumption to fall by 1.1 million barrels per day this year, 700,000 lower than last month's projection. Q2 deliveries slumped by 5 million a day from a year earlier "in the face of higher fuel prices and disruptions to product availability," the IEA said.In corporate news, Devon Energy (DVN) is drawing fresh activist attention following its merger with Coterra Energy, with Toms Capital Investment Management having built a stake in the shale producer, the Financial Times reported. Devon shares fell 0.8%.Western Midstream Partners (WES) said the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas, in the Permian Basin. The stock declined 0.7%.ConocoPhillips (COP) confirmed it signed a development agreement with Syria's new government after a Financial Times report said the company was poised to become the first major US oil and gas producer to do so. ConocoPhillips shares fell 0.5%.
Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index fell 1.4%, and the Dow Jones US Utilities Index was down 0.7%.Front-month West Texas Intermediate crude oil increased 0.4% to $76.38 a barrel, and the global benchmark Brent crude contract added 0.3% to $79.18 a barrel. Henry Hub natural gas futures fell 2.9% to $3.15 per 1 million BTU.In sector news, the US, Iran and mediators are in talks over holding the signing of the memorandum of understanding remotely as early as Wednesday, instead of in-person on Friday, Axios reported. A diplomat from one of the mediating countries told Axios that discussions to speed up the deal are intended to reopen the Strait of Hormuz sooner, since the parties agreed that the strait's opening and the lifting of the US blockade would only take effect after the formal signing scheduled for Friday.Separately, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 17.2 million barrels in the week ended June 12 following a decrease of 15.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 8.3 million barrels after a 7.2-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, Exxon Mobil (XOM) has a preliminary deal to supply liquefied natural gas to South Africa, Bloomberg reported. Exxon shares were down 0.7%.Western Midstream Partners (WES) said the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas, in the Permian Basin. Its shares declined 0.7%.ConocoPhillips (COP) confirmed that it has signed a development agreement with Syria's new government, after an earlier Financial Times report said the company was poised to become the first major US oil and gas producer to do so. ConocoPhillips shares were shedding 0.4%.
Energy stocks were leaning lower pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The United States Oil Fund (USO) was down 0.3% and the United States Natural Gas Fund (UNG) was 2.1% lower.Front-month US West Texas Intermediate crude oil was 1% higher at $76.81 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $79.86 per barrel, and natural gas futures were down 2.5% at $3.15 per 1 million British Thermal Units.Western Midstream Partners (WES) said the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas, in the Permian Basin. Shares of Western Midstream Partners were 0.6% lower premarket.ConocoPhillips (COP) confirmed that it has signed a development agreement with Syria's new government, after an earlier Financial Times report said the company was poised to become the first major US oil and gas producer to do so. ConocoPhillips shares were 0.3% higher pre-bell.Antero Resources (AR) has set up a commercial paper program under which it may issue up to $1.65 billion of short-term unsecured notes, the company said in a regulatory filing. Antero Resources stock was flat premarket.
Energy stocks were leaning lower pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The United States Oil Fund (USO) was down 0.4% and the United States Natural Gas Fund (UNG) was 1.4% lower.Front-month US West Texas Intermediate crude oil was 0.7% higher at $76.58 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.8% to $79.60 per barrel, and natural gas futures were down 1.2% at $3.20 per 1 million British Thermal Units.Western Midstream Partners (WES) shares were up more than 1% after the company said the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas, in the Permian Basin.
Western Midstream Partners (WES) said Wednesday that the second produced-water treatment pilot facility in its joint industry project has begun operations in Reeves County, Texas in the Permian Basin.The other members of the project include Chevron (CVX), ExxonMobil (XOM), ConocoPhillips (COP), and Devon Energy (DVN).The company said it expects the facility to receive 2,000 barrels per day of produced water and produce approximately 1,000 barrels per day of reclaimed freshwater."Through our multi-barrier treatment approach, we are transforming that stream into highly treated reclaimed freshwater suitable for industrial cooling and irrigation applications," Western Midstream CEO Oscar Brown said in a statement.
Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 1.5% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 2.7% lower at $85.37 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.3% to $88.31 per barrel, and natural gas futures were up 0.1% at $3.09 per 1 million British Thermal Units.Venture Global (VG) stock was down more than 1% after the company said it closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.Western Midstream Partners (WES) said it has completed the acquisition of Brazos Delaware in a cash-and-stock deal valued at around $1.6 billion. Western Midstream Partners shares were 0.7% lower pre-bell.
Western Midstream Partners (WES) shares were up more than 3% in Wednesday trading after Morgan Stanley upgraded the stock to equal weight from underweight.Trading volume stood at more than 586,000 shares, compared with a daily average of roughly 1.5 million.Price: $44.86, Change: $+1.36, Percent Change: +3.11%
Western Midstream Partners, LP (WES) has an average rating of Hold and mean price target of $44.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
US LNG developer NextDecade (NEXT) said its first Rio Grande LNG train remains on track to begin producing liquefied natural gas in 2026, with additional trains expected to come online faster than current market forecasts, TPH Energy strategists said in a note Thursday.NextDecade executives said Phase One of the Rio Grande LNG project is running ahead of schedule, with Train 1 expected to produce its first LNG about this time next year. Trains 2 and 3 are expected to follow within six to eight months of the first unit.Zack Van Everen, analyst at TPH Energy, said the timeline appears more aggressive than TPH's current macro forecast, which assumes Train 2 starts in Q3 2028 and Train 3 in Q1 2029.NextDecade is targeting first gas at Train 1 in 2026 and expects first LNG exports around the same time next year. The company's management said Train 1 would take the longest to ramp up because it is the facility's first liquefaction unit.The energy firm said it was comfortable with the feedgas supply given Rio Grande LNG's proximity to the Agua Dulce hub in Texas and its access to gas from the Permian Basin, the Eagle Ford, and the Katy markets, if required.NextDecade plans to continue securing gas supply agreements, including some longer-term contracts, as additional trains are developed.TPH Energy said producers have not sought a premium for supplying gas to the project, allowing purchases at Agua Dulce pricing.For future expansion phases, NextDecade said estimated liquefaction costs for Trains 4 and 5 averaged about $2.50 per million British thermal units, with Train 5 expected to cost slightly more than Train 4.Elsewhere, midstream operator Western Midstream Partners (WES) discussed shut-in gas volumes in the Permian Basin, commodity exposure, and opportunities tied to power demand and data center growth.Western Midstream said it has seen between zero and 300 million cubic feet per day of gas shut in on any given day in the Permian, though increased in-transit volumes on its system have offset some of those declines.The company pointed to growing activity in the Powder River Basin, where producers have been more responsive to higher oil prices, potentially supporting growth into 2027 if drilling activity continues.Van Everen said Western Midstream executives said rising power demand from data centers was becoming a growing focus, as the energy firm has access to land, water, and natural gas infrastructure that could support future developments.Price: $8.67, Change: $-0.05, Percent Change: -0.52%
Western Midstream Partners (WES) has an average rating of hold and mean price target of $42.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Western Midstream Partners (WES) reported Q1 earnings late Wednesday of $0.85 per diluted share, up from $0.79 a year earlier.Three analysts polled by FactSet expected $0.74.Revenue in the three months ended March 31 rose to $1.12 billion from $917.1 million a year earlier.Analysts surveyed by FactSet expected $1.01 billion.
