Western Midstream Partners LP announced amendments to its natural-gas gathering and processing contracts in the Delaware Basin with a subsidiary of Occidental Petroleum Corporation. The revised agreements replace the previous cost-of-service structure with a fixed-fee arrangement, supported by an acreage dedication. Additionally, Western Midstream entered into new agreements with ConocoPhillips to deliver natural-gas volumes under a new dedication arrangement for existing volumes on its system. As part of these transactions, Occidental will receive Western Midstream common units in exchange for the contract amendments. The changes were reviewed and approved by Western Midstream's Special Committee and Board of Directors.

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