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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues and Other    
Total revenues and other $ 383,141 $ 437,006 [1]
Equity income, net [2],[3],[4] 16,814 18,220 [1]
Operating expenses    
Cost of product [5] 76,467 139,408 [1]
Operation and maintenance [5] 76,213 76,185 [1]
General and administrative [5] 12,515 11,916 [1]
Property and other taxes 10,350 9,280 [1]
Depreciation and amortization 65,095 68,975 [1]
Impairments 6,518 272,624 [1]
Total operating expenses 247,158 578,388 [1]
Gain (loss) on divestiture and other, net (632) (6) [1]
Operating income (loss) 152,165 (123,168) [1]
Interest income – affiliates [6] 4,225 4,225 [1]
Interest expense [7] (32,139) (22,962) [1]
Other income (expense), net 141 80 [1]
Income (loss) before income taxes 124,392 (141,825) [1]
Income tax (benefit) expense 6,633 12,270 [1]
Net income (loss) 117,759 (154,095) [1]
Net income (loss) attributable to noncontrolling interests 35,943 (137,723) [1]
Net income (loss) attributable to Western Gas Equity Partners, LP 81,816 (16,372) [1]
Limited partners' interest in net income (loss):    
Pre-acquisition net (income) loss allocated to Anadarko (11,326) (25,039) [1]
Limited partners' interest in net income (loss) [8] 70,490 (41,411) [1]
Affiliates [Member]    
Revenues and Other    
Gathering, processing and transportation 187,718 188,018 [1]
Natural gas and natural gas liquids sales 84,866 118,740 [1]
Other 0 170 [1]
Total revenues and other [4] 272,584 306,928 [1]
Operating expenses    
Cost of product [4] 24,580 43,895
Operation and maintenance [9] 17,975 16,817
General and administrative [10] 9,150 8,335
Total operating expenses 51,705 69,047
Interest expense [11] (4,537) (1,422)
Third Parties [Member]    
Revenues and Other    
Gathering, processing and transportation 106,286 82,250 [1]
Natural gas and natural gas liquids sales 3,690 46,932 [1]
Other 581 896 [1]
Total revenues and other 110,557 130,078 [1]
Operating expenses    
Interest expense $ (27,602) $ (21,540)
Limited Partner [Member]    
Limited partners' interest in net income (loss):    
Net income (loss) per common unit - basic and diluted $ 0.32 $ (0.19) [1]
Weighted-average common units outstanding - basic and diluted 218,919 218,910 [1]
[1] Financial information has been recast to include the financial position and results attributable to the Springfield system. See Note 1 and Note 2.
[2] Income earned from equity investments is classified as affiliate. See Note 1.
[3] Income earned on, distributions from and contributions to equity investments are classified as affiliate. See Note 1.
[4] Represents amounts earned or incurred on and subsequent to the date of acquisition of WES assets, as well as amounts earned or incurred by Anadarko on a historical basis related to WES assets prior to the acquisition of such assets by WES, recognized under gathering, treating or processing agreements, and purchase and sale agreements.
[5] Cost of product includes product purchases from Anadarko (as defined in Note 1) of $24.6 million and $43.9 million for the three months ended March 31, 2016 and 2015, respectively. Operation and maintenance includes charges from Anadarko of $18.0 million and $16.8 million for the three months ended March 31, 2016 and 2015, respectively. General and administrative includes charges from Anadarko of $9.2 million and $8.3 million for the three months ended March 31, 2016 and 2015, respectively. See Note 5.
[6] Represents interest income recognized on the note receivable from Anadarko.
[7] Includes affiliate (as defined in Note 1) interest expense of $4.5 million and $1.4 million for the three months ended March 31, 2016 and 2015, respectively. See Note 2 and Note 9.
[8] Represents net income (loss) earned on and subsequent to the date of acquisition of WES assets (as defined in Note 1). See Note 4.
[9] Represents expenses incurred on and subsequent to the date of the acquisition of WES assets, as well as expenses incurred by Anadarko on a historical basis related to WES assets prior to the acquisition of such assets by WES.
[10] Represents general and administrative expense incurred on and subsequent to the date of WES’s acquisition of WES assets, as well as a management services fee for reimbursement of expenses incurred by Anadarko for periods prior to the acquisition of WES assets by WES. These amounts include equity-based compensation expense allocated to WES and WGP by Anadarko (see WES LTIP and WGP LTIP and Anadarko Incentive Plans within this Note 5) and amounts charged by Anadarko under the WGP omnibus agreement.
[11] For the three months ended March 31, 2016 and 2015, includes WES’s accretion expense recognized on the Deferred purchase price obligation - Anadarko for the acquisition of DBJV (see Note 2 and Note 9) and for the three months ended March 31, 2015, includes interest expense recognized on the WGP WCF (see Note 9).