Private company

Western Midstream Operating, LP

American natural gas transmission company based in The Woodlands.

Last updated Oct 18, 2026.

Overview

IndustryNatural Gas Transmission
HeadquartersThe Woodlands, United States
Incorporated inDE²
Business address9950 Woodloch Forest Drive, Suite 2800, The Woodlands, Tx 77380²
Filer categoryLarge accelerated filer²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2018

31.5%Operating margin³

22.3%Net margin³

-11.2%Revenue growth, 2018³

Where the money goes

Where each dollar of revenue went, fiscal 2018

Cost of revenueOther costsProfit

Cost of revenue22¢$431.9M
Other costs47¢$932.0M
Interest9¢$184.0M
Income tax0¢$2.9M
Profit22¢$445.8M

Out of $2.0B in revenue.³

Where each dollar of operating cash went, fiscal 2018

Dividends paidKept or used elsewhere

Dividends paid88¢$893.6M
Kept or used elsewhere12¢$127.0M

Out of $1.0B of cash from operations.³

Financial statements

Revenue⁴⁵³$2.0B in 2018+30% since 2014

Operating income⁴⁵³$629.4M in 2018+13% since 2014

Net income⁴⁵³$445.8M in 2018+1% since 2014

Fiscal year	2014	2015	2016	2017	2018
Revenue	$1.5B⁴	$1.8B⁵	$1.8B³	$2.2B³	$2.0B³
Cost of revenue			$494.2M³	$908.7M³	$431.9M³
Operating income	$554.7M⁴	$157.3M⁵	$708.2M³	$707.3M³	$629.4M³
Interest	$76.8M⁴	$113.9M⁵	$114.9M³	$142.4M³	$184.0M³
Income tax	$39.1M⁴	$45.5M⁵	$8.4M³	$4.9M³	$2.9M³
Net income	$442.6M⁴	$4.1M⁵	$591.3M³	$567.5M³	$445.8M³

Total assets⁷⁴⁵³$9.2B in 2018+33% since 2014

Total liabilities⁷⁴⁵³$5.7B in 2018+102% since 2014

Cash⁵³$90.4M in 2018+35% since 2014

Long-term debt⁴⁵³$4.8B in 2018+99% since 2014

Fiscal year	2014	2015	2016	2017	2018
Cash	$67.1M⁵	$98.0M³	$357.9M³	$78.8M³	$90.4M³
Current assets	$186.3M⁷	$299.2M⁴	$594.0M⁵	$254.1M³	$333.5M³
Total assets	$7.0B⁷	$7.3B⁴	$7.7B⁵	$8.0B³	$9.2B³
Current liabilities	$239.8M⁷	$235.5M⁴	$315.3M⁵	$424.3M³	$507.6M³
Long-term debt	$2.4B⁴	$2.7B⁵	$3.1B³	$3.5B³	$4.8B³
Total liabilities	$2.8B⁷	$3.4B⁴	$3.6B⁵	$4.0B³	$5.7B³
Shares outstanding		127.7M shares⁸	128.6M shares⁷	130.7M shares⁴	152.6M shares⁵

Cash from operations⁵³$1.0B in 2018+30% since 2015

Dividends paid⁴⁵³$893.6M in 2018+119% since 2014

Fiscal year	2014	2015	2016	2017	2018
Cash from operations		$785.6M⁵	$917.6M³	$901.5M³	$1.0B³
Dividends paid	$408.6M⁴	$545.1M⁵	$671.9M³	$801.3M³	$893.6M³

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Leadership

Who has led Western Midstream Operating, LP, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

President

Chief financial officer

Chief operating officer

2010201520202025

Chief executive officerDonald R. Sinclair May 21, 2010 to Jun 21, 2016⁹
Chief executive officerRobert G. Gwin May 8, 2008 to May 14, 2008¹⁰
ChairBenjamin Matthew Fink Mar 4, 2019 to Mar 4, 2019¹¹
ChairR. A. Walker May 8, 2008 to May 14, 2008¹²
PresidentRobin H. Fielder Nov 21, 2018 to Nov 21, 2018¹³
PresidentDonald R. Sinclair Oct 5, 2009 to Jun 21, 2016¹⁴
PresidentRobert G. Gwin May 8, 2008 to May 14, 2008¹⁰
Chief financial officerJaime R. Casas May 25, 2017 to May 25, 2017¹⁵
Chief financial officerBenjamin Matthew Fink May 28, 2009 to May 14, 2013¹⁶
Chief financial officerMichael C. Pearl May 8, 2008 to May 8, 2008¹⁷
Chief operating officerGennifer F. Kelly May 21, 2018 to May 21, 2018¹⁸
Chief operating officerDanny J. Rea May 8, 2008 to May 14, 2013¹⁹

Board members and other officers (18)

SVPJacqueline A. Dimpel Feb 27, 2014 to Feb 27, 2014²⁰
Vice President, TreasurerJeremy M. Smith Feb 22, 2010 to Feb 22, 2010²¹
Board memberMitchell W. Ingram Nov 21, 2018 to Nov 21, 2018²²
Board memberRobin H. Fielder Nov 21, 2018 to Nov 21, 2018¹³
Board memberDarrell E. Hollek May 14, 2015 to Apr 26, 2016²³
Board memberR. A. Walker Apr 12, 2012 to Apr 12, 2012²⁴
Board memberCharles Alvin Meloy Mar 5, 2009 to Mar 5, 2009²⁵
Board memberDonald R. Sinclair Oct 5, 2009 to Jun 21, 2016¹⁴
Board memberAnthony R. Chase May 8, 2008 to Feb 13, 2014²⁶
Board memberDanny J. Rea May 8, 2008 to Nov 16, 2010¹⁹
Board memberDavid J. Tudor May 8, 2008 to Mar 4, 2019²⁷
Board memberJames R. Crane May 8, 2008 to Mar 4, 2019²⁸
Board memberKarl F. Kurz May 8, 2008 to May 14, 2008²⁹
Board memberMilton Carroll May 8, 2008 to Mar 4, 2019³⁰
Board memberRobert G. Gwin May 8, 2008 to Mar 4, 2019¹⁰
Board memberRobert K. Reeves May 8, 2008 to May 14, 2008³¹
General counselPhilip H. Peacock Aug 7, 2012 to Aug 7, 2012³²
General counselAmanda M. McMillian May 28, 2009 to Aug 7, 2012³³

Former names

Western Gas Partners LPOct 15, 2007 to Feb 20, 2019²

Timeline

May 21, 2010New chief executive Donald R. Sinclair becomes CEO⁹
May 8, 2008New chief executive Robert G. Gwin becomes CEO¹⁰
Aug 21, 2007Founded Western Midstream Operating, LP is founded³⁴

Filings

59 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 20 major events, 18 other. The latest 20:

Sep 25, 2026SD EDGAR
Aug 5, 202610-Q EDGAR
Jun 25, 20268-K EDGAR
Jun 24, 2026424B2 EDGAR
Jun 22, 2026FWP EDGAR
Jun 22, 2026424B5 EDGAR
Jun 12, 20268-K EDGAR
May 6, 202610-Q EDGAR
Feb 18, 202610-K EDGAR
Jan 22, 20268-K EDGAR
Dec 4, 20258-K EDGAR
Dec 3, 2025424B5 EDGAR
Dec 1, 2025FWP EDGAR
Dec 1, 2025424B3 EDGAR
Nov 28, 20258-K EDGAR
Nov 4, 202510-Q EDGAR
Oct 15, 20258-K EDGAR
Sep 24, 2025SD EDGAR
Aug 6, 202510-Q EDGAR
May 7, 202510-Q EDGAR

The 59 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARWestern Midstream Operating, LP filings on SEC EDGAR
2
SEC EDGARWestern Midstream Operating, LP filings on SEC EDGAR
3
SEC EDGARWestern Midstream Operating, LP 10-K for fiscal 2018
4
SEC EDGARWestern Midstream Operating, LP 10-K for fiscal 2014
5
SEC EDGARWestern Midstream Operating, LP 10-K for fiscal 2015
6
SEC EDGARWestern Midstream Operating, LP 10-Q for fiscal 2025
7
SEC EDGARWestern Midstream Operating, LP 10-K for fiscal 2014
8
SEC EDGARWestern Midstream Operating, LP 10-K for fiscal 2015
9
SEC EDGARDonald R. Sinclair, Chief executive officer
10
SEC EDGARRobert G. Gwin, Chief executive officer
11
SEC EDGARBenjamin Matthew Fink, Chair
12
SEC EDGARR. A. Walker, Chair
13
SEC EDGARRobin H. Fielder, President
14
SEC EDGARDonald R. Sinclair, President
15
SEC EDGARJaime R. Casas, Chief financial officer
16
SEC EDGARBenjamin Matthew Fink, Chief financial officer
17
SEC EDGARMichael C. Pearl, Chief financial officer
18
SEC EDGARGennifer F. Kelly, Chief operating officer
19
SEC EDGARDanny J. Rea, Chief operating officer
20
SEC EDGARJacqueline A. Dimpel, SVP
21
SEC EDGARJeremy M. Smith, Vice President, Treasurer
22
SEC EDGARMitchell W. Ingram, Board member
23
SEC EDGARDarrell E. Hollek, Board member
24
SEC EDGARR. A. Walker, Board member
25
SEC EDGARCharles Alvin Meloy, Board member
26
SEC EDGARAnthony R. Chase, Board member
27
SEC EDGARDavid J. Tudor, Board member
28
SEC EDGARJames R. Crane, Board member
29
SEC EDGARKarl F. Kurz, Board member
30
SEC EDGARMilton Carroll, Board member
31
SEC EDGARRobert K. Reeves, Board member
32
SEC EDGARPhilip H. Peacock, General counsel
33
SEC EDGARAmanda M. McMillian, General counsel
34
gleifWestern Midstream Operating, LP is founded