$WES

Western Midstream Offers Attractive Asset Footprint, RBC Says

Western Midstream Partners (WES) is well positioned for growth due to its asset footprint, with produced-water operations also set to drive growth, RBC Capital Markets said in a Friday note.RBC analysts were updating their estimates after the company posted better-than-expected Q2 results and increased guidance.The report said its guidance hike for 2026 is driven by the Brazos Delaware Basin acquisition, higher crude oil prices, and better system performance.The note also pointed to Pathfinder produced-water pipeline entering service in Q1 2027 with capital costs tracking below budget, delivering 15% returns with the potential to reach 20% as utilization ramps.RBC kept its sector perform rating while raising its price target to $47 from $41 on the back of higher estimates.Price: $48.04, Change: $-0.33, Percent Change: -0.67%

WhiteWater-Led Gas Pipeline JV to Proceed After Positive Investment Decision

WhiteWater, Devon Energy (DVN), MPLX (MPLX), Diamondback Energy (FANG) and Western Midstream Partners (WES) have made a final decision to invest in their Solitude Pipeline project consisting of two 48-inch natural gas pipelines from the Permian Basin to Katy, Texas, WhiteWater said on Monday.Western Midstream released a separate statement on Monday about its decision to join the project.The project has now got long-term firm transportation agreements in place with investment-grade shippers, WhiteWater's statement said.The partners expect the project to bring scalable, long-haul natural gas transportation to support growth in the Permian Basin and to meet expanding consumption on the Gulf Coast.The pipeline will be have a flexible, modular design offering a capacity of 2.25 billion cubic feet per day from H2 2029, with that same capacity added again the next year. Further expansion from the resulting 4.5 billion Bcf/d will be possible thereafter according to market conditions.Austin,Texas-based gas asset operator WhiteWater owns 50% of the joint venture, Devon Energy 25%, MPLX 10% and Diamondback Energy, 7.5%.

Whitewater, Partners Make Final Investment Decision on Permian Basin Gas Pipeline Project

Devon Energy (DVN) MPLX (MPLX), Diamondback Energy (FANG), and Western Midstream (WES), and WhiteWater, through their Solitude Pipeline System joint venture, have reached a positive final investment decision to build two 48-inch natural gas pipelines from the Permian Basin to Katy, Texas, WhiteWater said Monday.The Solitude project has secured long-term transportation agreements with shippers to support the decision, the company said.The pipeline system, expected to begin service in H2 2029, will provide an initial capacity of around 2.25 billion cubic feet per day of natural gas by late 2029, with an additional 2.25 billion in 2030, the company said.

Western Midstream Q2 Natural Gas Throughput Rises QOQ

Western Midstream Partners' (WES) throughput at natural gas assets rose to 5.52 billion cubic feet per day in Q2, relative to Q1's 5.39 bcf/d, as throughput in the Delaware and the Denver-Julesberg or DJ basins reached record-highs.Natural gas throughput in the Delaware Basin stood at 2.14 bcf/d in Q2, up from 2.04 bcf/d in the previous quarter, following the Brazos Delaware acquisition.In the DJ Basin, natural gas throughput in Q2 grew to 1.55 bcf/d from Q1's 1.52 bcf/d, data showed.Meanwhile, total throughput for crude oil and natural gas liquid assets was up slightly at 533,000 barrels per day, compared with the prior quarter's 531,000 b/d.The company said it finalized two new gathering and processing agreements in the Powder River Basin, expanding its footprint by 270,000 acres.It also reaffirmed its total capital expenditure plan for the year of $850 million to $1 billion.

UBS Raises Price Target on Western Midstream Partners to $48 From $45, Maintains Neutral Rating

Western Midstream Partners (WES) has an average rating of hold and mean price target of $45.50, according to analysts polled by FactSet.Price: $45.24, Change: $+0.38, Percent Change: +0.85%

Western Midstream Partners Prices $700 Million Notes Offering

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.

Sector Update: Energy Stocks Fall Late Afternoon

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%.

Sector Update: Energy Stocks Lower Wednesday Afternoon

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%.

Sector Update: Energy Stocks Lean Lower Pre-Bell Wednesday

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.

Sector Update: Energy

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 Says Second Produced-Water Facility Starts Operations in 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.

Sector Update: Energy Stocks Decline Premarket Friday

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 Shares Rise After Morgan Stanley Upgrade

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%

Morgan Stanley Upgrades Western Midstream Partners to Equal Weight From Underweight, $51 Price Target

Western Midstream Partners, LP (WES) has an average rating of Hold and mean price target of $44.73, according to analysts polled by FactSet.

NextDecade Sees Faster LNG Train Ramp-up at Rio Grande Project, TPH Says

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%

Stifel Upgrades Western Midstream Partners to Buy From Hold, Lifts Price Target to $46 From $42

Western Midstream Partners (WES) has an average rating of hold and mean price target of $42.17, according to analysts polled by FactSet.

Western Midstream Partners Q1 Earnings, Revenue Rise

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.

Earnings Flash (WES) Western Midstream Partners Posts Q1 EPS $0.85, vs. FactSet Est of $0.74