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Western Midstream Partners 8-K Report, Material Agreement (Apr 9, 2025)

Reports
Material Agreements·Financial Events
Filing Date
Filed April 9, 2025
Period End
April 7, 2025
Security
WES
In the record · 2016–202610-K1210-Q368-K108

WES filed 12 annual reports (10-K), 36 quarterly reports (10-Q) and 108 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Mar ’19Mar ’19
  2. Leadership change8-K · Sep ’20Sep ’20
  3. Leadership change8-K · Aug ’22Aug ’22
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed April 9, 2025. Cited figures are marked; the original filing is the authoritative source.

Western Midstream Operating, LP ("WES Operating"), a subsidiary of Western Midstream Partners, LP ("WES"), obtained a written consent on April 7, 2025 from certain lenders to its senior unsecured revolving credit agreement (the "RCF").

The consent extends the maturity date, for loans and commitments totaling $1,880 milliona held by those lenders, from April 6, 2029 to April 6, 2030. The consent exercised the second and final extension option available under Section 2.24 of the RCF. As of April 7, 2025, no borrowings or letters of credit were outstanding under the RCF.

The filing discloses that certain lenders and their affiliates have performed, and may in the future perform, financial advisory, commercial, and investment banking services for WES Operating and WES, for which they received or may receive customary fees. Affiliates of these lenders have also acted, and may act, as underwriters of WES Operating's debt issuances and WES's equity issuances.

For investors, the filing primarily reflects a maturity extension of the revolving credit facility's existing commitments rather than a new borrowing or change in financing terms. The filing does not state the total size of the facility beyond the $1,880 millionb covered by the consenting lenders.

02—Key points

Key Highlights

  1. WES Operating obtained lender consent on April 7, 2025 to extend the maturity of its senior unsecured revolving credit agreement.
  2. The maturity date for loans and commitments totaling $1,880 million moves from April 6, 2029 to April 6, 2030.
  3. The consent exercised the second and final extension option under Section 2.24 of the RCF.
  4. No borrowings or letters of credit were outstanding under the RCF as of April 7, 2025.
  5. The filing discloses that certain RCF lenders and their affiliates have provided and may provide financial advisory, commercial, and investment banking services to WES Operating and WES.
  6. Affiliates of certain RCF lenders have acted, and may act, as underwriters of WES Operating's debt and WES's equity issuances.

03—Questions

Frequently Asked Questions

  1. What changed in the revolving credit agreement?

    Lenders holding loans and commitments totaling $1,880 million consented to extend the maturity date from April 6, 2029 to April 6, 2030.

  2. Was the extension an option or a negotiated change?

    The consent exercised the second and final extension option provided under Section 2.24 of the RCF.

  3. Did WES Operating have any drawn debt under the facility?

    As of April 7, 2025, there were no borrowings or letters of credit outstanding on the RCF.

  4. Do the lenders have other relationships with WES?

    Yes. Certain lenders and their affiliates have performed or may perform financial advisory, commercial, and investment banking services for WES Operating and WES, and affiliates have acted or may act as underwriters of their debt and equity issuances, for which they receive or may receive customary fees.

04—Continue

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