Western Gas

Western Gas Partners, LP is a growth-oriented Delaware master limited partnership formed by Anadarko to own, operate, acquire and develop midstream energy assets. WES’s assets are located in East, West and South Texas, the Rocky Mountains (Colorado, Utah and Wyoming), North-Central Pennsylvania and the Mid-Continent (Kansas and Oklahoma), and WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as third-party producers and customers.

Company Growth (employees)
Type
Public
Parent Company
Western Gas Equity Partners
HQ
The Woodlands, US
Founded
2007
Size (employees)
392 (est)
Western Gas was founded in 2007 and is headquartered in The Woodlands, US

Western Gas Office Locations

Western Gas has an office in The Woodlands
The Woodlands, US (HQ)
1201 Lake Robbins Dr

Western Gas Data and Metrics

Western Gas Financial Metrics

Western Gas's revenue was reported to be $1.8 b in FY, 2016
USD

Net income (Q1, 2017)

102.7 m

EBIT (Q1, 2017)

137.6 m

Market capitalization (15-Aug-2017)

17.5 b

Cash (31-Mar-2017)

122.7 m
Western Gas's current market capitalization is $17.5 b.
USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

869.4 m894.5 m1.1 b1.5 b1.8 b1.8 b

Revenue growth, %

3%21%41%14%3%

Cost of goods sold

373.2 m458.4 m528.4 m494.2 m

Gross profit

712.3 m1.1 b1.2 b1.3 b

Gross profit Margin, %

66%70%70%73%

General and administrative expense

35.1 m41.8 m41.2 m49.2 m

Operating expense total

735.6 m1 b1.7 b1.2 b

Depreciation and amortization

149.8 m186.5 m244.2 m

EBIT

317.1 m551.5 m154.2 m704.5 m

EBIT margin, %

29%36%9%39%

Interest expense

18.8 m30.3 m42.1 m51.8 m76.8 m113.9 m116.6 m

Pre tax profit

284.2 m492.6 m63.2 m605.4 m

Income tax expense

21.7 m32.2 m20.7 m2.3 m39.1 m45.5 m8.4 m

Net Income

282.4 m387.4 m(66.5 m)597 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

402.4 m

General and administrative expense

9.4 m10.1 m12.5 m11.9 m12.1 m13.5 m

Operating expense total

8.7 m9.3 m11.3 m10.9 m11.4 m12.7 m

EBIT

134 m191.9 m152.2 m175.3 m196.6 m137.6 m

EBIT margin, %

33%

Interest expense

(27.6 m)(31.8 m)(32.1 m)(13.4 m)(31.3 m)(36 m)

Pre tax profit

110.7 m164.4 m124.4 m166.1 m169.6 m106.2 m

Income tax expense

(1.8 m)1.7 m6.6 m326 k472 k3.6 m

Net Income

187.9 m293.7 m86 m198.5 m361.3 m117.8 m283.5 m452.7 m102.7 m
USDY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

70 m27.1 m226.6 m420 m100.7 m67.1 m98 m359.1 m

Accounts Receivable

84.1 m98.1 m181 m223 m

Current Assets

194.8 m175.2 m286.9 m595.6 m

Goodwill

105.3 m384.4 m389.7 m417.6 m

Total Assets

4.3 b6.8 b6.7 b7.7 b

Accounts Payable

147.5 m

Total Debt

3.1 b

Current Liabilities

190.5 m202.6 m199.2 m315.4 m

Non-Current Liabilities

1.5 b2.5 b3 b3.3 b

Total Liabilities

1.7 b2.7 b3.2 b3.6 b

Debt to Assets Ratio

0.4 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

122.1 m78.2 m59.8 m89.3 m74.8 m111.5 m159.7 m146.3 m122.7 m

Accounts Receivable

108.8 m126.3 m144.1 m172.4 m150.4 m179.6 m221.5 m214.1 m152.5 m

Current Assets

235.9 m211.4 m215 m273.7 m236.8 m295.1 m387.2 m369.8 m286.2 m

Goodwill

105.3 m105.3 m393 m393 m387.6 m419.2 m419.2 m419.2 m417.6 m

Total Assets

5 b5.1 b7.1 b7.2 b7.2 b7.4 b7.5 b7.5 b7.6 b

Current Liabilities

176.7 m201.4 m242.5 m213.1 m223 m260 m241.7 m254.6 m280.2 m

Non-Current Liabilities

2.1 b2.2 b2.8 b3 b2.9 b3.4 b3.1 b3.1 b3.3 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

286 m390.6 m(63.4 m)597 m

Depreciation and Amortization

244.2 m272.9 m

Accounts Receivable

(34 m)(4.2 m)(5.6 m)(49 m)

Cash From Operating Activities

415.7 m534.8 m669.6 m913.1 m

Purchases of PP&E

(476.7 m)(78.1 m)(12.7 m)(716.5 m)

Capital Expenditures

(646.5 m)(673 m)(602.3 m)(480 m)

Cash From Investing Activities

(1.4 b)(2.6 b)(466.4 m)(1.1 b)

Long-term Borrowings

(710 m)(650 m)(610 m)(900 m)

Cash From Financing Activities

681.1 m2.1 b(172.2 m)451.8 m

Income Taxes Paid

552 k(90 k)838 k

Free Cash Flow

1.1 b1.2 b1.3 b433.1 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

187.9 m293.7 m86 m198.5 m361.3 m117.8 m283.5 m452.7 m102.7 m

Depreciation and Amortization

65.1 m132.4 m199.6 m69.7 m

Accounts Receivable

(23.3 m)(41.4 m)(17.8 m)(46.2 m)(24.3 m)12.5 m(33.2 m)(41.3 m)(1.5 m)

Cash From Operating Activities

262.1 m401.2 m155.5 m300.4 m496.8 m235.9 m391.8 m654.7 m191.7 m

Purchases of PP&E

(361 m)(372.4 m)(1.1 m)(10 m)(12.1 m)(715.2 m)(716.5 m)

Capital Expenditures

(359.8 m)(492.3 m)(200.9 m)(338.2 m)(473.4 m)(137 m)(255.9 m)(372.7 m)(125.9 m)

Cash From Investing Activities

(770.8 m)(913.4 m)(204 m)(349.2 m)(338 m)(842.8 m)(952.8 m)(1 b)(252.4 m)

Long-term Borrowings

(480 m)(480 m)(31.2 m)(521.2 m)(611.2 m)(290 m)(880 m)

Cash From Financing Activities

517.7 m477.3 m41.1 m70.9 m(151.2 m)618.7 m621 m432.6 m(175.7 m)

Income Taxes Paid

(340 k)(340 k)(138 k)(138 k)(138 k)67 k67 k67 k189 k

Free Cash Flow

(97.6 m)(91.1 m)(45.5 m)(37.8 m)23.4 m98.9 m135.9 m282 m65.7 m

Western Gas Market Value History

Traffic Overview of Western Gas

Western Gas Company Life and Culture

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