Western Midstream Partners, LP Common Units (WES) Q3 2024 Earnings Call Transcript Summary
Western Midstream Partners, LP Common Units (WES) Q3 2024 Earnings Call Transcript Summary
Adjusted gross The following is a summary of the Western Midstream Partners, LP Common Units (WES) Q3 2024 Earnings Call Transcript:
以下是western midstream合作伙伴LP普通單位（WES）2024年第三季度業績會文本摘要：
Financial Performance:
財務表現:
Reported Q3 net income of $282 million and adjusted EBITDA of $567 million.
Adjusted EBITDA for Q3 declined due to lower natural gas liquids volume under fixed recovery contracts, coupled with lower commodity prices.
Adjusted gross margin decrease largely attributed to lower NGL recoveries and lower commodity pricing.
Issued $800 million of new senior notes at 5.45% due 2034 to refinance debt and for general purposes, which was met with strong market reception.
報告了第三季度淨利潤28200萬美元和調整後的EBITDA爲56700萬美元。
第三季度調整後的EBITDA下降，這主要是由於固定回收合同下天然氣液體成交量減少，再加上商品價格下降。
調整後的毛利率下降主要歸因於天然氣液體回收量減少和商品定價降低。
發行了以5.45%的利率到2034年到期的80000萬美元新高級票據，用於再融資債務和一般用途，市場反應強勁。
Business Progress:
業務進展：
Notable operational successes with service continuity maintained above 98% operability and increased natural gas throughput in the Delaware and Powder River Basins.
Executed new agreements for the Mi Vida joint venture, enhancing dedicated natural gas processing capacity by 100 million cubic feet per day beginning mid-2025.
Retired several non-core asset sales which impacts future adjustments.
Expect year-over-year throughput increase in all segments with mid- to upper teens percentage growth for natural gas.
在德拉華州和鮑威爾河盆地取得了顯着的運營成功，服務連續性維持在98%以上的可操作性水平，並增加了天然氣通過量。
2025年中期開始，Western Midstream執行了Mi Vida合資企業的新協議，將專用天然氣處理能力提高10000萬立方英尺/天。
退休了幾項非核心資產銷售，影響了未來的調整。
預計所有分段年度的通過量會增加，天然氣的增長率將在中至高青少年百分比之間。
Opportunities:
機會：
Strategic refinancing of debt with favorable market conditions for the newly issued senior notes.
Addition of dedicated capacity in the Mi Vida JV enhances service to Delaware Basin customers.
Incremental capital allocation to Powder River and Uinta Basins reflecting a focus on facilitating throughput growth there.
在有利的市場條件下，通過對新發行的優先票據進行戰略性再融資債務。
Mi Vida JV增加了專用能力，提高了對Delaware盆地客戶的服務。
額外資本用於Powder River和Uinta盆地，體現了對在那裏促進通過量增長的關注。
Risks:
風險：
Reduction in throughput expectations for crude oil and NGLs alongside produced water due to divestitures and transition in production strategies by producers.
Variability in quarterly volumes due to producer recycling activities, impacting near-term volumetric flow.
由於生產商的資產剝離和生產策略轉變，原油、液化天然氣及產出水的吞吐量預期下降。
由於生產商的再循環活動導致季度成交量變化，對近期的體積流量產生影響。
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提示：本文由人工智能生成。內容準確性無法完全保證。如需更全面詳情，請參閱IR網站。本文僅供投資者參考，不具有任何指導或推薦建議。