Western Midstream Partners LP has reported its second-quarter 2025 financial results, highlighting a record Adjusted EBITDA of $618 million, representing a 4% increase quarter-over-quarter. The company also experienced sequential throughput growth across all core operating basins and products, achieving record natural-gas, crude-oil, NGLs, and produced water throughput in the Delaware Basin. Specifically, natural gas throughput reached 5.4 billion cubic feet per day, a 3% increase from the previous quarter. Crude oil and NGLs throughput was 543 thousand barrels per day, reflecting a 6% rise quarter-over-quarter, while produced water throughput increased by 4% to 1,242 thousand barrels per day. Looking ahead, Western Midstream Partners LP has provided its 2025 financial guidance, estimating Adjusted EBITDA in the range of $2.35 to $2.55 billion. The company plans capital expenditures between $625 million and $775 million. Estimated throughput growth rates for 2025 are projected in the low-single digits for crude oil and NGLs, and mid-single digits for both natural gas and produced water. The company remains focused on organic growth and accretive mergers and acquisitions, with an emphasis on enhancing its asset footprint and expanding capital projects that offer mid-teens unlevered rates of return.
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