On the Record · Western Midstream Operating

Western Midstream Operating acquisitions, on the record

The businesses Western Midstream Operating bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
Meritage Midstream Services II, LLC Word for word“In October 2023, we closed on the acquisition of Meritage for $885.0 million (subject to certain customary post-closing adjustments) funded with cash, including proceeds from our $600.0 million senior note issuance in September 2023 and borrowings on the RCF.” 10-K for 2023	acquisition	October 2023	$885.0 million
Cactus II Pipeline LLC Word for word“In November 2022, we sold our 15.00% interest in Cactus II to two third parties for $264.8 million, which includes a $1.8 million pro-rata distribution through closing.” 10-K for 2023	divestiture	November 2022	$264.8 million
Ranch Westex JV LLC Word for word“In September 2022, we acquired the remaining 50% interest in Ranch Westex from a third party for $40.1 million.” 10-K for 2023	acquisition	September 2022	$40.1 million
Marcellus Interest systems (33.75% interest) Word for word“During the second quarter of 2024, we closed on the sale of our 33.75% interest in the Marcellus Interest systems for proceeds of $206.2 million, resulting in a net gain on sale of $63.9 million that was recorded as Gain (loss) on divestiture and other, net in the consolidated statement of operations.” 10-K for 2024	divestiture	During the second quarter of 2024	proceeds of $206.2 million
Mont Belvieu JV (25.00% interest), Whitethorn LLC (20.00% interest), Panola (15.00% interest), and Saddlehorn (20.00% interest) Word for word“The combined proceeds received in the first quarter of 2024 of $588.6 million includes $5.9 million in pro-rata distributions through closing, resulting in a net gain on sale of $239.7 million that was recorded as Gain (loss) on divestiture and other, net in the consolidated statement of operations.” 10-K for 2024	divestiture	—	The combined proceeds received in the first quarter of 2024 of $588.6 million
Aris Water Solutions, Inc. Word for word“During the fourth quarter of 2025, we closed on the acquisition of Aris by merger in a transaction valued at $2.0 billion, including the cash and equity merger consideration, Aris’s outstanding debt of $80.0 million in revolving credit facility borrowings that were repaid at closing, and $500.0 million in principal amount of senior notes.” 10-K for 2025	acquisition	During the fourth quarter of 2025	$2.0 billion
33.75% interest in the Marcellus Interest systems Word for word“During the second quarter of 2024, we closed on the sale of our 33.75% interest in the Marcellus Interest systems for proceeds of $206.2 million, resulting in a net gain on sale of $63.9 million that was recorded as Gain (loss) on divestiture and other, net in the consolidated statement of operations.” 10-K for 2025	divestiture	During the second quarter of 2024	$206.2 million
25.00% interest in Mont Belvieu JV, 20.00% interest in Whitethorn LLC, 15.00% interest in Panola, and 20.00% interest in Saddlehorn Word for word“During the first quarter of 2024, we closed on the sale of the following equity investments to third parties: (i) the 25.00% interest in Mont Belvieu JV, (ii) the 20.00% interest in Whitethorn LLC, (iii) the 15.00% interest in Panola, and (iv) the 20.00% interest in Saddlehorn.” 10-K for 2025	divestiture	During the first quarter of 2024	—

Deal filings since 2016

2026-06-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-06-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-01-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-12-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-04-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-08-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-05-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-11-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-09-29 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-04-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-04-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-06-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-01-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-01-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-07-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-03-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-03-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-12-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-11-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-10-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-08-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-05-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-03-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-12-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-05-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-03-23 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2017-02-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-12-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-12-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-10-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-07-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-03-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-03-16 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2016-03-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

Read from Western Midstream Operating’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-18. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.