The following is a summary of the Western Midstream Partners LP (WES) Q2 2024 Earnings Call Transcript:

Financial Performance:

• WES reported Q2 net income of $370 million and adjusted EBITDA of $578 million, reflecting a slight decrease from the previous quarter.

• Free cash flow for Q2 was $425 million, and after distribution payments, it stood at $84 million.

• Achieved a net leverage ratio of three times, meeting the company's financial stability targets ahead of schedule.

Business Progress:

• Operational quarter marked by robust system operability and throughput records in natural gas, crude oil, and NGLs for the 5th consecutive quarter.

• Signed multiple new commercial agreements across several basins which will come into full effect by 2025, enhancing throughput and financials long-term.

• Executed significant contract expansions and new agreements enhancing both the Delware and DJ Basin operations.

• Continues investment in infrastructure such as North Loving Plant to support future throughput growth.

Opportunities:

• Existing cryogenic capacity at Chipeta is projected to be fully utilized by second half of 2025, indicating growing demand and operational expansion.

• The additional agreements and expanded capacities across multiple basins signify underlying growth opportunities and a strengthening of market position.

Risks:

• Not explicitly mentioned in the provided text.

More details: Western Midstream IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.