|By Marketwired .||
|January 20, 2014 07:00 AM EST||
HOUSTON, TX -- (Marketwired) -- 01/20/14 -- Western Gas Partners, LP (NYSE: WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.60 per unit for the fourth quarter of 2013, marking a full-year 2013 distribution increase of 16-percent over the full-year 2012. This distribution also represents a 3-percent increase over the prior quarter and a 15-percent increase over the fourth quarter of 2012. WES's fourth quarter 2013 distribution is payable on February 12, 2014, to unitholders of record at the close of business on January 31, 2014.
Western Gas Equity Partners, LP (NYSE: WGP) also announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.23125 per unit for the fourth quarter of 2013, marking a 40-percent increase over the non-prorated distribution for the fourth quarter of 2012. This distribution also represents an 8-percent increase over the prior quarter. WGP's fourth quarter 2013 distribution is payable on February 21, 2014, to unitholders of record at the close of business on January 31, 2014.
The Partnerships plan to report their fourth-quarter and full-year 2013 results after the market closes on Thursday, February 27, 2014. Management will host a conference call on Friday, February 28, 2014, at 9 a.m. CST (10 a.m. EST) to discuss quarterly results.
The full text of the release announcing the results will be available on the Partnerships' website at www.westerngas.com. To access the live audio webcast of the conference call, please visit the investor relations section of the website. To participate via telephone, please dial (877) 621-4819 and enter participant code 28641715. Please call in 10 minutes prior to the scheduled start time. A replay of the call will be available on the website for two weeks following the conference call.
Western Gas Partners, LP is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation (NYSE: APC) to own, operate, acquire and develop midstream energy assets. With midstream assets in East, West and South Texas, the Rocky Mountains, North-Central Pennsylvania and the Mid-Continent, the Partnership is engaged in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as for third-party producers and customers.
Western Gas Equity Partners, LP is a Delaware master limited partnership formed by Anadarko Petroleum Corporation to own WES's general partner and a substantial limited partner interest in WES, including all of WES's incentive distribution rights.
For more information please visit www.westerngas.com.
Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Gas Partners, LP's and Western Gas Equity Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
WESTERN GAS PARTNERS, LP and WESTERN GAS EQUITY PARTNERS, LP CONTACT:
Benjamin Fink, CFA
SVP, Chief Financial Officer and Treasurer