Q4 2021 Western Midstream Partners LP Post-Earnings Interview Transcript

Feb 11, 2024

Feb 28, 2022 / NTS GMT
Kristen S. Shults - Western Midstream Partners, LP - Head of IR and Senior VP of Finance & Communications - Western Midstream Holdings LLC

Welcome to Western Midstream's fourth quarter post-earnings fireside chat with CEO, Michael Ure.

Michael, welcome. It looks like it was quite the eventful quarter, came out with quite a few items in the press release. Before we get started on the enhanced distribution and 2022 guidance, do you want to say a few words about 2021?

Michael P. Ure - Western Midstream Partners, LP - President, CEO, Acting CFO & Director - Western Midstream Holdings LLC

I do. Yes. Thank you, Kristen. 2021 was an excellent year for us, despite the challenges that we saw with Winter Storm Uri, COVID as a whole, as well as just the normal disruptions that happened in our business. We're really pleased with the performance that we were able to achieve.

We exceeded our guidance expectations on EBITDA. We came in below the high end of the guidance range on capital. We exited the year at 3.5x net debt to EBITDA, which was our target

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