The LP subsidiary of Western Midstream Partners Western Midstream Operating LP completed the previously announced $3.5 billion senior note offer and then repaid its $3.0 billion credit facility and closed it. Occidental Petroleum Corp., a subsidiary of Western Midstream, is an independent midstream company with assets in the Rockies, northern Pennsylvania, Texas and New Mexico. Occidental recently announced that it will reduce its interest in Western Midstream to less than 50% within a year, but plans to continue its operational relationship with the partnership. Western Midstream Partners LP, formerly Western Gas Equity Partners, LP, is a limited partnership. The company was created to hold approximately three types of partnerships in Western Gas Partners, LP (WES). WES is a master limited partnership (MLP) that collects, compresses, processes, processes and transports natural gas, as well as collecting, stabilizing and transporting condensates, natural gas liquids (NGL) and crude oil. WES offers these midstream services for Anadarko Petroleum Corporation (Anadarko) as well as for producers and third-party customers. Its assets and investments are located in the Rocky Mountains (Colorado, Utah and Wyoming), northern central Pennsylvania and Texas. The bison processing plant processes and compresses gas from methane wells in wyoming`s Powder River Basin.
MIGC, LLC receives gas from various methane collection systems in the Powder River Basin and the Hilight system. HOUSTON, January 9, 2020 /PRNewswire / — January 9, 2020 – Today, Western Midstream gave, LP (NYSE: WES) announced that its wholly owned subsidiary, Western Midstream Operating, LP (“WES Operating”), has valued an offer of $300 million in the aggregate main amount of priority variable rate bonds in 2023, $1 billion in total capital of $3.10. % of priority bonds maturing by 2025, at a price of 99.962 per cent of their face value, $1.2 billion in aggregate assets on 4.05% of priority bonds due by 2030, at a price of 99.90% of their face value to the public and $1 billion in aggregate principal of 5.25% of priority bonds maturing in 2050 at a price of 99.442% of their nominal value. The Senior Notes offer is expected to close on Monday, January 13, 2020, in accordance with customary closing conditions. The net proceeds of the offer will be used to repay and terminate WES Operating`s $3.0 billion credit facility. WES Operating will use the remaining net proceeds for general partnership purposes, including the repayment of bonds as part of its revolving credit facility. Oil and gas producer Anadarko Petroleum Corp said Thursday it would sell almost all of its midstream assets, including pipelines, to its limited partnership Master Western Gas Partners for $4.02 billion. Interest on floating rate notes will be payable from January 13 at a variable rate payable every January 13, April 13, July 13 and October 13, with the first interest payment due April 13, according to a January 13 submission from the SEC. Notes 2025,2030 and 2050 will also be interested from January.