Partnership Distributions

3 Months Ended

Sep. 30, 2022

Distributions Made to Members or Limited Partners [Abstract]

Partnership Distributions

4. PARTNERSHIP DISTRIBUTIONS

Partnership distributions. Under its partnership agreement, the Partnership distributes all of its available cash (beyond proper reserves as defined in its partnership agreement) to unitholders of record on the applicable record date within 55 days following each quarter’s end. The Board of Directors of the general partner (the “Board”) declared the following cash distributions to the Partnership’s unitholders for the periods presented:

thousands except per-unit amounts Quarters Ended	Total Quarterly Per-unit Distribution		Total Quarterly Cash Distribution		Distribution Date	Record Date
2021
March 31	$	0.31500	$	132,969	May 14, 2021	April 30, 2021
June 30	0.31900		134,662		August 13, 2021	July 30, 2021
September 30	0.32300		134,862		November 12, 2021	November 1, 2021
December 31	0.32700		134,749		February 14, 2022	January 31, 2022
2022
March 31	$	0.50000	$	206,197	May 13, 2022	May 2, 2022
June 30	0.50000		197,744		August 12, 2022	August 1, 2022
September 30	0.50000		197,065		November 14, 2022	October 31, 2022

Available cash. The amount of available cash (beyond proper reserves as defined in the partnership agreement) generally is all cash on hand at the end of the quarter, plus, at the discretion of the general partner, working capital borrowings made subsequent to the end of such quarter, less the amount of cash reserves established by the general partner to provide for the proper conduct of the Partnership’s business, including (i) to fund future capital expenditures; (ii) to comply with applicable laws, debt instruments, or other agreements; or (iii) to provide funds for unitholder distributions for any one or more of the next four quarters. Working capital borrowings generally include borrowings made under a credit facility or similar financing arrangement and are intended to be repaid or refinanced within 12 months. In all cases, working capital borrowings are used solely for working capital purposes or to fund unitholder distributions.

WES Operating partnership distributions. WES Operating makes quarterly cash distributions to the Partnership and WGR Asset Holding Company LLC (“WGRAH”), a subsidiary of Occidental, in proportion to their share of limited partner interests in WES Operating. See Note 5. WES Operating made the following cash distributions to its limited partners for the periods presented:

thousands Quarters Ended	Total Quarterly Cash Distribution		Distribution Date
2021
March 31	$	137,030	May 2021
June 30	140,217		August 2021
September 30	140,217		November 2021
December 31	140,217		February 2022
2022
March 31	$	213,513	May 2022
June 30	213,513		August 2022
September 30	213,513		November 2022

In addition to the distributions above, during the nine months ended September 30, 2022 and 2021, WES Operating made distributions of $441.3 million and $91.8 million, respectively, to the Partnership and WGRAH. The Partnership used its portion of the distribution to repurchase common units. See Note 5.