Q3 2021 Western Midstream Partners LP Post-Earnings Interview With CEO Transcript

Nov 18, 2021 / 01:50PM GMT

Release Date Price: $21.76 (+0.74%)

Transcript

Kristen S. Shults

Western Midstream Partners, LP - Head of IR and Senior VP of Finance & Communications - Western Midstream Holdings LLC

Welcome to our third quarter post-earnings fireside chat with Michael Ure. I'm Kristen Shults, our SVP of Finance and Communications here at Western Midstream. And I've got Michael, our Chief Executive Officer.

Questions & Answers

Kristen S. Shults

Western Midstream Partners, LP - Head of IR and Senior VP of Finance & Communications - Western Midstream Holdings LLC

Michael, let's get started. Great third quarter results. What do you attribute the third quarter beat to?

Michael P. Ure

Western Midstream Partners, LP - President, CEO, Acting CFO & Director - Western Midstream Holdings LLC

Thanks, Kristen. The beat was due to a couple of different factors. The first, as we mentioned on the call and in that release, was a $19 million revenue recognition cumulative adjustment that we took during the quarter. In addition to that, however, outside of that onetime

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