8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): November 3, 2015

Westlake Chemical Partners LP

(Exact name of registrant as specified in its charter)

Delaware	001-36567	32-0436529
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

2801 Post Oak Boulevard, Suite 600 Houston, Texas	77056
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (713) 585-2900

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On November 3, 2015, Westlake Chemical Partners LP (the "Partnership") issued a press release announcing its 2015third quarter earnings. A copy of the press release is furnished with this Current Report as Exhibit 99.1.

The information furnished pursuant to this Current Report, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing by Westlake Chemical Partners LP under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified as being incorporated therein.

Item 7.01. Regulation FD Disclosure.

The Partnership is holding a conference call on November 3, 2015 to discuss its 2015third quarter results. Information about the call can be found in the press release furnished with this Current Report as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is furnished herewith:

99.1    Press release issued on November 3, 2015.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			WESTLAKE CHEMICAL PARTNERS LP
			By: Westlake Chemical Partners GP LLC
Date:	November 3, 2015	By:	/S/ ALBERT CHAO
			Albert Chao President and Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release issued on November 3, 2015.

EX-99.1

EXHIBIT 99.1

WESTLAKE CHEMICAL PARTNERS LP

Contact - (713) 585-2900

Investors - Steve Bender

Media - David R. Hansen

Westlake Chemical Partners LP Announces Third Quarter 2015 Earnings

• Quarterly MLP distributable cash flow of $9.5 million

• Increased quarterly cash distribution by $0.0084 (2.89%) to $0.2994 per unit, announced on October 28, 2015

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported third quarter 2015 net income attributable to the Partnership of $10.1 million, or $0.37 per limited partner unit, and MLP distributable cash flow of $9.5 million. Net sales at Westlake Chemical OpCo LP ("OpCo") for the period were $248.6 million. The Partnership's second quarter of 2015 net income was $10.4 million, or $0.39 per limited partner unit.

OpCo's sales agreement with Westlake Chemical Corporation is designed to provide for stable and predictable cash flows. The sales agreement provides that 95% of OpCo's ethylene production is sold to Westlake Chemical Corporation for a cash margin of $0.10 per pound, net of operating costs, maintenance capital expenditures and reserves for future turnaround expenditures.

On October 28, 2015, the Board of Directors of Westlake Chemical Partners GP LLC, the general partner of the Partnership, declared a quarterly distribution of $0.2994 per unit to be payable on November 27, 2015 to the unitholders of record on November 9, 2015. The MLP distributable cash flow provided coverage of 1.17x the declared distributions. The increase in cash distributions is in line with the Partnership's targeted low double-digit distribution growth.

"As a result of the long-term fixed margin ethylene sales agreement, the margin associated with the majority of our ethylene sales is not subject to the recent volatility in the oil and ethylene markets. This arrangement positions us to provide stable cash flows to our unitholders and highlights the benefit of the structure of our operations and sales contract," said Albert Chao, President and Chief Executive Officer.

The statements in this release and the related teleconference relating to matters that are not historical facts, but forward-looking statements, could be adversely affected by, among other things, operating difficulties; the volume of ethylene that we are able to sell; the price at which we are able to sell ethylene; changes in the price and availability of electricity; changes in prevailing economic conditions; actions of third parties; unanticipated ground, grade or water conditions; inclement or hazardous weather conditions, including flooding, and the physical impacts of climate change; environmental hazards; industrial accidents; changes in laws and regulations (or the interpretation thereof); inability to acquire or maintain necessary permits; inability to obtain necessary production equipment or replacement parts; technical difficulties or failures; labor disputes; late delivery of raw materials; difficulty collecting receivables; inability of our customers to take delivery; changes in the price and availability of transportation; fires, explosions or other accidents; our ability to borrow funds and access capital markets; and other risk factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to the Partnership's Annual Report on Form 10-K for the year ended December 31, 2014, which was filed with the SEC in March 2015, and Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, which was filed with the SEC in August 2015.

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 the Partnership's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

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Use of Non-GAAP Financial Measures

This release includes the term MLP distributable cash flow, which is a non-GAAP financial measure, as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles ("GAAP"), but believe that certain non-GAAP financial measures, such as MLP distributable cash flow, provide useful supplemental information to investors regarding the underlying business trends and performance of our ongoing operations and are useful for period-over-period comparisons of such operations. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP. A reconciliation of MLP distributable cash flow to net income and net cash provided by operating activities can be found in the financial schedules at the end of this release. We define distributable cash flow as net income plus depreciation and amortization, less contributions from turnaround reserves and maintenance capital expenditures. We define MLP distributable cash flow as distributable cash flow attributable to periods subsequent to the date of our initial public offering less distributable cash flow attributable to Westlake Chemical Corporation's noncontrolling interest in Westlake Chemical OpCo LP. Because MLP distributable cash flow may be defined differently by other companies in our industry, our definition of MLP distributable cash flow may not be comparable to similarly titled measures of other companies.

Westlake Chemical Partners LP

Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop facilities for the processing of natural gas liquids as well as other qualifying activities. Headquartered in Houston, Texas, the Partnership owns a 13.3% interest in Westlake Chemical OpCo LP. Westlake Chemical OpCo LP's assets include three facilities in Calvert City, Kentucky, and Lake Charles, Louisiana which process ethane and propane into ethylene, and an ethylene pipeline. For more information about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com/.

Westlake Chemical Partners LP Conference Call Information:

A conference call to discuss Westlake Chemical Partners' third quarter 2015 results will be held Tuesday, November 3, 2015 at 12:00 p.m. Eastern Time (11:00 a.m. Central Time). To access the conference call, dial (855) 638-4814 or (234) 386-2848 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 58792939.

A replay of the conference call will be available beginning two hours after its conclusion until 11:59 p.m. Eastern Time on Tuesday, November 10 2015. To hear a replay, dial (855) 859-2056, or (404) 537-3406 for international callers. The replay passcode is 58792939.

The conference call will also be available via webcast at: http://edge.media-server.com/m/p/6kf6xf8h/lan/en and the earnings release can be obtained via the Partnership web page at: http://westlakepartners.investorroom.com/news-events

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WESTLAKE CHEMICAL PARTNERS LP ("WESTLAKE PARTNERS")

COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014 (1)(2)			2015			2014 (1)(2)
	(In thousands of dollars, except per unit data)
Revenue
Net sales—Westlake Chemical Corporation   ("Westlake")	$	207,856		$	289,601		$	621,438		$	1,088,561
Net co-product, ethylene and other sales—third   parties	40,763			102,407			137,277			387,596
Total net sales	248,619			392,008			758,715			1,476,157
Cost of sales	154,474			227,015			473,815			832,304
Gross profit	94,145			164,993			284,900			643,853
Selling, general and administrative expenses	5,831			8,860			17,826			22,803
Income from operations	88,314			156,133			267,074			621,050
Other income (expense)
Interest expense	(1,054		)	(2,137		)	(3,794		)	(9,833		)
Other (expense) income, net	(73		)	486			(35		)	3,135
Income before income taxes	87,187			154,482			263,245			614,352
Provision for income taxes	141			36,309			567			198,461
Net income	87,046			118,173			262,678			415,891
Less: Predecessor net income prior to initial public   offering on August 4, 2014	—			63,616			—			361,334
Net income subsequent to initial public offering	87,046			54,557			262,678			54,557
Less: Net income attributable to noncontrolling   interests in Westlake Chemical OpCo LP   ("OpCo")	76,943			49,542			233,632			49,542
Net income attributable to Westlake Partners	$	10,103		$	5,015		$	29,046		$	5,015
Quarterly distribution declared per unit	$	0.2994		$	0.1704		$	0.8733		$	0.1704
MLP distributable cash flow	$	9,475		$	5,265		$	27,671		$	5,265
Distribution declared
Limited partner units—public	$	3,873		$	2,205		$	11,298		$	2,205
Limited partner units—Westlake	4,229			2,406			12,333			2,406
Incentive distribution rights	—			—			—			—
Total distribution declared	$	8,102		$	4,611		$	23,631		$	4,611

_____________

(1) Westlake Partners' initial public offering ("IPO") was on August 4, 2014.

(2) Includes amounts for the pre-IPO period from July 1, 2014 through August 3, 2014 and post-IPO period from August 4, 2014 through September 30, 2014 in the three months ended September 30, 2014 and includes the amounts for the pre-IPO period from January 1, 2014 through August 3, 2014 and post-IPO period from August 4, 2014 through September 30, 2014 in the nine months ended September 30, 2014.

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WESTLAKE CHEMICAL PARTNERS LP ("WESTLAKE PARTNERS")

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	September 30, 2015			December 31, 2014
	(In thousands of dollars)
ASSETS
Current assets
Cash and cash equivalents	$	154,257		$	133,750
Accounts receivable, net—Westlake	44,035			18,529
Accounts receivable, net—third parties	14,479			37,520
Inventories	3,272			6,634
Prepaid expenses and other current assets	382			212
Total current assets	216,425			196,645
Property, plant and equipment, net	962,221			842,057
Other assets, net	46,542			57,733
Total assets	$	1,225,188		$	1,096,435
LIABILITIES AND EQUITY
Current liabilities (accounts payable and accrued liabilities)	$	56,511		$	31,984
Long-term debt payable to Westlake	330,495			227,638
Other liabilities	1,708			1,863
Total liabilities	388,714			261,485
Common unitholders—public	293,282			290,377
Common unitholder—Westlake	4,360			4,038
Subordinated unitholder—Westlake	38,528			35,681
General partner—Westlake	(242,572		)	(242,572		)
Accumulated other comprehensive loss	(173		)	—
Total Westlake Chemical Partners LP partners' capital	93,425			87,524
Noncontrolling interest in OpCo	743,049			747,426
Total equity	836,474			834,950
Total liabilities and equity	$	1,225,188		$	1,096,435

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WESTLAKE CHEMICAL PARTNERS LP ("WESTLAKE PARTNERS")

COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended September 30,
	2015			2014 (1)(2)
	(In thousands of dollars)
Cash flows from operating activities
Net income	$	262,678		$	415,891
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	60,637			58,501
Other balance sheet changes	7,888			11,598
Net cash provided by operating activities	331,203			485,990
Cash flows from investing activities
Additions to property, plant and equipment	(152,572		)	(144,348		)
Settlements of derivative instruments	—			(133		)
Net cash used for investing activities	(152,572		)	(144,481		)
Cash flows from financing activities
Proceeds from debt payable to Westlake	238,198			141,161
Repayment of debt payable to Westlake	(135,341		)	—
Repayment of debt payable to Westlake with proceeds from the initial public offering	—			(78,940		)
Net proceeds from issuance of common units	—			286,088
Proceeds from initial public offering distributed to Westlake	—			(151,729		)
Net distributions to Westlake prior to initial public offering	—			(448,101		)
Quarterly distributions to noncontrolling interest retained in OpCo by Westlake	(238,009		)	—
Quarterly distributions to unitholders	(22,972		)	—
Net cash used for financing activities	(158,124		)	(251,521		)
Net increase in cash and cash equivalents	20,507			89,988
Cash and cash equivalents at beginning of period	133,750			—
Cash and cash equivalents at end of period	$	154,257		$	89,988

_____________

(1) Westlake Partners' initial public offering ("IPO") was on August 4, 2014.

(2) Includes the amounts for the pre-IPO period from January 1, 2014 through August 3, 2014 and post-IPO period from August 4, 2014 through September 30, 2014.

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WESTLAKE CHEMICAL PARTNERS LP ("WESTLAKE PARTNERS")

RECONCILIATIONS OF MLP DISTRIBUTABLE CASH FLOW TO NET INCOME

AND NET CASH PROVIDED BY OPERATING ACTIVITIES

(Unaudited)

	Three Months Ended June 30,			Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2015			2014			2015			2014
	(In thousands of dollars)
MLP distributable cash flow (1)	$	9,235		$	9,475		$	5,265		$	27,671		$	5,265
Add:
Distributable cash flow attributable to   noncontrolling interests in OpCo (1)	68,908			72,833			51,652			225,565			51,652
Net income attributable to the   Predecessor for the period prior to   August 4, 2014	—			—			63,616			—			361,334
Maintenance capital expenditures (1)	22,515			18,145			5,839			48,946			5,839
Contribution to turnaround reserves (1)	6,977			7,035			4,484			21,133			4,484
Less:
Depreciation and amortization (1)	(20,392		)	(20,442		)	(12,683		)	(60,637		)	(12,683		)
Net income for the period	87,243			87,046			118,173			262,678			415,891
Depreciation and amortization	20,392			20,442			19,219			60,637			58,501
Other balance sheet changes	9,029			(6,184		)	(30,323		)	7,888			11,598
Net cash provided by operating activities	$	116,664		$	101,304		$	107,069		$	331,203		$	485,990

_____________

(1) Westlake Partners' initial public offering was on August 4, 2014. The 2014 balances include amounts for the period from August 4, 2014 through September 30, 2014 only.

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