Western Gas Partners LP (WES) Misses Q1 EPS by 20c, Revenues Beat
Western Gas Partners LP (NYSE: WES) reported Q1 EPS of $0.30, $0.20 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $671.88 million versus the consensus estimate of $584.66 million.
- Completed simplification and acquisition transactions
- Closed 30% acquisition of Red Bluff Express gas pipeline
- Commenced processing through second train at Mentone gas plant
- Increased gas throughput by approximately 5%, or 200 MMcf/d, sequentially
- Increased produced water throughput by approximately 25%, or 100 MBbls/d, sequentially
"We are very pleased with our first-quarter results and the start-up of the second train at our Mentone gas processing facility in the Delaware basin," said Chief Executive Officer, Robin Fielder. "With the recent acquisition of the highly complementary liquids assets in the Delaware and DJ Basins, WES is better positioned to provide integrated midstream services to our customers and fee-based distribution growth to our unitholders."
For earnings history and earnings-related data on Western Gas Partners LP (WES) click here.
