Western Midstream Partners LP (NYSE:WES) Q3 2019 Earnings Conference Call Transcript

Nov 05, 2019 • 02:00 pm ET

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Western Midstream Partners LP (NYSE:WES) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon and welcome to the Western Midstream Partners Third Quarter 2019 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]

I would now like to turn the conference over to Kristen Shults, Vice President of Investor Relations and Communications. Please go ahead.

Executive
Kristen Shults

Thank you. I'm glad you could join us today for Western Midstream's third quarter 2019 conference call. I'd like to remind you that today's call, the accompanying slide deck and last night's earnings release contain important disclosures regarding forward-looking statements and non-GAAP reconciliations. Please see the WES 10-K and our other public filings for a description of the factors that could cause actual results to differ materially from what we discuss today. Those materials are all posted on our website at www.westernmidstream.com.

I'd now like to turn the call over to our CEO, Michael Ure.

Executive
Michael P. Ure

Thank you, Kristen, and good afternoon, everyone. On the call with me today are Mike Pearl, our Chief Financial Officer; Craig Collins, our Chief Operating Officer; and Jaime Casas, our former Chief Financial Officer.

Since becoming CEO in August, I've had the pleasure of meeting many of the talented individuals at WES in both our field and corporate offices. I truly have motivated by the passion they have for their work and their desire to see the Company thrive. These individuals are the reason why WES has grown adjusted EBITDA from less for a $100 million at IPO to current year midpoint guidance of $1.7 billion. I am privileged to be a part of this team and look forward to working alongside such committed and dedicated workforce.

Since early August, a premier management team has been assembled at WES. This includes Mike and Craig, joining me on the call today, as well as Chuck Griffie, our Senior Vice President of Operations and Engineering; Bob Bourne, our Chief Commercial Officer; and Catherine Green, our Chief Accounting Officer. Each of these individuals has decades of experience in the oil and gas sector and within their respective areas of expertise. Mike and Craig previously served on the WES management team. Mike, as the CFO at the time of Western Gas Partners and Craig as COO as recently as 2018. Chuck has over 18 years of operations and engineering experience. The majority of which has been spent with Anadarko. Bob brings more than 30 years of midstream corporate business development experience to us. And Catherine has served in a variety of leadership roles within Anadarko accounting over the past 18 years.

We've also appointed additional Vice Presidents to provide leadership in key areas. All of these individuals bring decades of experience to WES in their respective fields. With many of these appointments coming from legacy Anadarko and WES, which ensures the preservation of institutional knowledge and the streamline transition of WES into its next phase. Please visit our website for further details on these key leaders. Truly I'm excited about the assembled team and look forward to continued success the WES has enjoyed since