HOUSTON, Feb. 27, 2019 /PRNewswire/ -- Western Gas
Equity Partners, LP (NYSE:WGP) and Western Gas Partners, LP
(NYSE:WES) today announced that at a special meeting of WES's
unitholders held earlier today, WES's unitholders voted to approve
and adopt the Contribution Agreement and Agreement and Plan of
Merger, dated as of November 7, 2018
(the "Merger Agreement"), pursuant to which a wholly owned
subsidiary of WGP will merge with and into WES, with WES continuing
as the surviving entity and a subsidiary of WGP ("the Merger").
Approximately 99.8% of the total WES units that were voted at
the special meeting voted in favor of the Merger. With a quorum
voting, the Merger Agreement and Merger were approved and adopted
by the unitholders.
The Merger is expected to close on February 28, 2019. Immediately after the closing,
WGP will change its name to "Western Midstream Partners, LP" and
its common units will begin trading on the New York Stock Exchange
under the ticker symbol "WES". In addition, Western Gas Partners,
LP will change its name to "Western Midstream Operating, LP."
About Western Gas
Western Gas Partners, LP ("WES") is
a growth-oriented Delaware master
limited partnership formed by Anadarko Petroleum Corporation
("Anadarko") 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 ("NGLs") and crude oil; and gathering and disposing of
produced water for Anadarko, as well as for third-party 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.
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.
This news release contains forward-looking statements. WES
and WGP's management believes that their expectations are based on
reasonable assumptions. No assurance, however, can be given that
such expectations will prove to have been correct. A number of
factors could cause actual results to differ materially from the
projections, anticipated results or other expectations expressed in
this news release. These factors include the ability to close the
simplification transaction on the expected timeline and the other
factors described in the "Risk Factors" sections of WES's and WGP's
most recent Forms 10-K and Forms 10-Q filed with the Securities and
Exchange Commission and in their other public filings and press
releases. Western Gas Partners, LP and Western Gas Equity Partners,
LP undertake no obligation to publicly update or revise any
forward-looking statements.
Western Gas Contact
Jack
Spinks
Manager, Investor Relations
jack.spinks@anadarko.com
832.636.6000
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SOURCE Western Gas Partners, LP; Western Gas Equity Partners,
LP