Key Developments: Western Gas Partners LP (WES)
61.43USD
21 May 2013
$0.19 (+0.31%)
$61.20
$61.23
$61.49
$61.12
462,933
236,177
$63.57
$41.15
Latest Key Developments (Source: Significant Developments)
Western Gas Partners LP Announces Closing of Common Unit Issuance Including Over-Allotment Option
Western Gas Partners LP announced that it has closed the issuance of 7,015,000 common units representing limited partner interests, including 915,000 common units issued under the exercise of the over-allotment option granted to the underwriters. The Partnership expects to use the net proceeds from the offering for general partnership purposes, including the funding of capital expenditures and the repayment of a portion of the outstanding borrowings under its revolving credit facility. Full Article
Western Gas Partners LP Announces Public Offering Of 6,100,000 Common Units
Western Gas Partners LP announced a registered underwritten public offering of 6,100,000 common units representing limited partner interests. Western Gas Partners (the Partnership) will grant the underwriters a 30-day option to purchase up to 915,000 additional common units. The Partnership expects to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters` option to purchase additional common units, for general partnership purposes, including the funding of capital expenditures, and the repayment of a portion of the outstanding borrowings under its revolving credit facility. RBC Capital Markets, Barclays, Citigroup, Deutsche Bank Securities, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the offering. Full Article
Western Gas Partners LP Announces Fourth Quarter 2012 Distribution
Western Gas Partners LP announced that the board of directors of its general partner has declared a cash distribution of $0.54 per unit for the first quarter of 2013, representing a 4% increase over the prior quarter and a 17% increase over the first quarter of 2012. The distribution is payable on May 13, 2013, to unitholders of record at the close of business on April 30, 2013. Full Article
Western Gas Partners LP Announces Fourth Quarter 2012 Distribution
Western Gas Partners LP announced that the board of directors of its general partner has declared a cash distribution of $0.52 per unit for the fourth quarter of 2012, representing a 4% increase over the prior quarter and an 18% increase over the fourth quarter of 2011. The distribution is payable on February 12, 2013, to unitholders of record at the close of business on February 1, 2013. Full Article
Western Gas Partners LP Increases Distribution
Western Gas Partners LP announced that the board of directors of its general partner has declared a cash distribution of $0.50 per unit for the third quarter of 2012, representing a 4% increase over the prior quarter and a 19% increase over the third quarter of 2011. The distribution is payable on November 13, 2012, to unitholders of record at the close of business on October 31, 2012. Full Article
Western Gas Partners LP Announces Pricing Of $150 Million Of Senior Notes
Western Gas Partners LP announced that it has priced an offering of an additional $150,000,000 in aggregate principal amount of 4.0% senior notes due 2022 at a price to the public of 105.178% of their face value, equating to a yield to maturity of 3.356%. The senior notes are being offered as additional senior notes under an indenture pursuant to which Western Gas Partners issued $520 million aggregate principal amount of 4.0% senior notes due 2022 on June 28, 2012. These new senior notes are identical to, and will be treated as a single class of debt securities with, the previously issued senior notes under the indenture governing the senior notes. The offering of the senior notes is expected to close on October 18, 2012, subject to customary closing conditions. Net proceeds from the offering are expected to be used for general partnership purposes. RBS Securities Inc., DNB Markets, Inc., Mitsubishi UFJ Securities (USA), Inc., Scotia Capital (USA) Inc. and UBS Securities LLC are acting as joint book-running managers for the offering. Full Article
Western Gas Partners LP Acquires Chipeta Processing LLC From Anadarko Petroleum Corporation; Declares Dividend
Western Gas Partners LP announced that it has acquired an additional 24% membership interest in Chipeta Processing LLC (Chipeta) from Anadarko Petroleum Corporation for total consideration of $135 million. As a result of the acquisition, the Partnership owns a 75% membership interest in Chipeta, while a third party retains a 25% membership interest. The Partnership financed the acquisition with $128.3 million of cash on hand, and the issuance of 151,235 common units to Anadarko and 3,086 general partner units to Western Gas Holdings, LLC, the Partnership's general partner, at an implied price of approximately $43.74 per unit. The transaction will be immediately accretive to the Partnership, with the acquisition price representing an approximate 7.9 times multiple of the assets’ forecasted 2013 earnings before interest, taxes, depreciation and amortization. The acquisition closed on August 1, 2012, with the Partnership receiving distributions from Chipeta’s operations (related to the additional interest) beginning July 1, 2012. The Company also announced that the Board of Director declared a quarterly distribution of $0.48 per unit for the second quarter of 2012, payable on August 13, 2012, to unitholders of record at the close of business on July 31, 2012, representing a 4% increase over the prior quarter and a 19% increase over the second-quarter 2011 distribution of $0.405 per unit. Full Article
Western Gas Partners LP Sees FY 2012 EBITDA Guidance To Be around Low End of Prior Range
Western Gas Partners LP announced that for fiscal 2012, it expects adjusted EBITDA to be around the low end of the range the Company announced at the beginning of the year. Full Article
Western Gas Partners LP Announces Pricing Of $520 Million Of Senior Notes
Western Gas Partners LP announced that it has priced its offering of $520,000,000 in aggregate principal amount of 4.00% senior notes due 2022 at a price to the public of 99.194% of their face value. The offering of the senior notes is expected to settle on June 28, 2012, subject to customary closing conditions. Net proceeds from the offering are expected to be used to repay all amounts outstanding under the partnership’s $800.0 million revolving credit facility, with the remaining net proceeds used to refinance the partnership’s note payable to Anadarko Petroleum Corporation and for general partnership purposes. RBS Securities Inc., Barclays Capital Inc., Deutsche Bank Securities Inc., SG Americas Securities, LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering. Full Article
Western Gas Partners LP Prices Public Offering of 5,000,000 Common Units
Western Gas Partners LP announced that it has priced its public offering of 5,000,000 common units representing limited partner interests. Western Gas Partners has granted the underwriters a 30-day option to purchase up to 750,000 additional common units. The common units were offered to the public at $43.88 per unit. The offering is expected to settle and close on June 22, 2012. The Partnership expects to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters’ option to purchase additional common units, for general partnership purposes, including the funding of capital expenditures. Pending the use of proceeds for other purposes, the Partnership may apply some or all of the net proceeds to reduce outstanding borrowings under its revolving credit facility. Barclays, Citigroup, Deutsche Bank Securities, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for the offering. The offering will be made only by means of a prospectus and related prospectus supplement. Full Article
Western Gas Equity, PBF Energy set IPO terms
Dec 3 - Western Gas Equity Partners LP and PBF Energy Inc set price ranges on Monday for their proposed initial public offerings as energy companies look to tap a stabilizing United States IPO market.
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