WES NYSE
Credit Risk of going bust: lower than 81% of companies Debt: 32.8% of company value Bonds: $325.9M held by 474 funds, 108 bp over Treasuries → details ▾
If the stock fell to about $0.97 (down 98%), Western Midstream Partners, LP would be worth roughly what it owes.
Total debt $9.13B against a stock market value of $18.66B.
Distance to default 9.99 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $4.61B (short-term plus half of long-term), stock volatility 20.3%; Altman Z'' 0.96. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
The Woodlands, TX 77380
US
Western Midstream Partners, LP, an energy infrastructure company operating with its subsidiaries, primarily acquires, owns, develops, and manages assets across the United States. Its core functions include the collection, compression, treatment, processing, and transportation of natural gas. The firm also handles the gathering, stabilization, and conveyance of condensate, natural gas liquids (NGLs), and crude oil, alongside the collection and disposal of water generated during production. Additionally, it engages in the buying and selling of natural gas, NGLs, and condensate. Western Midstream maintains operations in significant regions such as Texas, New Mexico, the Rocky Mountains, and north-central Pennsylvania. Western Midstream Holdings, LLC functions as its general partner. Formed in 2007, the company is headquartered in The Woodlands, Texas, and rebranded from Western Gas Equity Partners, LP to its current name in February 2019.
Recent Insider Trades
| Name | Type | Shares | Price | Date |
|---|---|---|---|---|
| Forthuber Frederick | P-Purchase | 5,140 | $48.62 | 2026-08-12 |
| PHILLIPS ROBERT G | P-Purchase | 1,250 | $40.19 | 2026-03-11 |
| Brown Oscar K | M-Exempt | 24,022 | — | 2026-02-12 |
| Brown Oscar K | A-Award | 94,451 | — | 2026-02-12 |
| Brown Oscar K | F-InKind | 10,510 | $42.35 | 2026-02-12 |