HOUSTON, Aug. 8, 2019 /PRNewswire/ -- Today, Western
Midstream Partners, LP (NYSE:WES) ("WES") announced senior
management changes. Effective today, Michael P. Ure has been named President &
Chief Executive Officer and Craig W.
Collins has been named Senior Vice President & Chief
Operating Officer of WES. Mr. Ure previously served as Senior Vice
President of Business Development for Occidental (NYSE: OXY) and
Mr. Collins is returning to WES having previously served as Senior
Vice President & Chief Operating Officer of its predecessor,
Western Gas Partners, LP from 2017 to 2018. Mr. Ure and Mr. Collins
are succeeding Robin H. Fielder and
Gennifer F. Kelly, respectively, in
connection with the recently completed acquisition (the
"Acquisition") of Anadarko Petroleum Corporation ("Anadarko") by
Occidental. Jaime R. Casas, Senior
Vice President, Chief Financial Officer & Treasurer, and
John D. Montanti, Vice President,
General Counsel & Corporate Secretary, will remain in their
current positions.
"Occidental sees great value and opportunity in the excellent
WES asset base and is committed to value-enhancing opportunities
for both companies," said Vicki
Hollub, President and CEO of Occidental.
"I am excited to lead Western Midstream through its next stage
of growth," said Mr. Ure. "Occidental's acquisition of Anadarko
creates a world-class portfolio of onshore U.S. assets, which
includes the largest and most prolific acreage positions in the
Delaware and DJ Basins. WES is
uniquely positioned to benefit from this transaction through the
significant opportunities to grow alongside Occidental.
Additionally, we are committed to positioning ourselves as the
preferred midstream provider for all producers in high-quality
onshore U.S. basins."
WES also announced changes to the board of directors (the
"Board") and has appointed Glenn M.
Vangolen, currently Senior Vice President of Occidental,
Chairman of the Board, replacing Benjamin
M. Fink effective immediately. Furthermore, Marcia E. Backus, Peter
J. Bennett, Oscar K. Brown,
Jennifer Kirk and Michael P. Ure have all been appointed to the
Board and will replace Daniel E.
Brown, Robin H. Fielder,
Robert G. Gwin, Mitchell W. Ingram, and Amanda M. McMillian. Milton Carroll, Chairman of the special
committee has elected to resign from the Board. A replacement to
serve as Chairman of the special committee will be named in due
course. WES would like to thank Mr. Carroll for his leadership on
the Board and wish him the best in his future endeavors.
"We appreciate the expertise and institutional knowledge of the
current independent directors and we value their ongoing
contributions and leadership," said Mr. Vangolen. "Additionally, I
am confident that the new board members' collective insight and
expertise will help to ensure that WES remains aligned with
Occidental and that the underlying strength of WES's business model
is preserved."
Please visit the Western Midstream Partners website at
www.westernmidstream.com for further information on the senior
management and Board changes.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP ("WES") is a Delaware master limited partnership formed to
acquire, own, develop and operate midstream assets. With midstream
assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New
Mexico, WES is engaged in the business of gathering,
compressing, treating, processing and transporting natural gas;
gathering, stabilizing and transporting condensate, natural gas
liquids and crude oil; and gathering and disposing of produced
water for its customers. In addition, in its capacity as a
processor of natural gas, WES also buys and sells natural gas, NGLs
and condensate on behalf of itself and as agent for its customers
under certain of its contracts.
For more information about Western Midstream Partners, LP,
please visit www.westernmidstream.com.
This news release contains forward-looking statements. WES's
management believes that its expectations are based on reasonable
assumptions. No assurance, however, can be given that such
expectations will prove to have been correct. A number of factors
could cause actual results to differ materially from the
projections, anticipated results or other expectations expressed in
this news release. These factors include the ability to meet
financial guidance or distribution growth expectations; the ability
to safely and efficiently operate WES's assets; the supply of,
demand for, and price of oil, natural gas, NGLs and related
products or services; the ability to meet projected in-service
dates for capital growth projects; construction costs or capital
expenditures exceeding estimated or budgeted costs or expenditures;
and the other factors described in the "Risk Factors" section of
WES's most recent Form 10-K and Form 10-Q filed with the Securities
and Exchange Commission and in its other public filings and press
releases. Western Midstream Partners, LP undertakes no obligation
to publicly update or revise any forward-looking
statements.
WESTERN MIDSTREAM CONTACT
Jack
Spinks
Manager, Investor Relations
jack_spinks@oxy.com
832.636.6000
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SOURCE Western Midstream Partners, LP