Western Midstream Operating, LP
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
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Assets and Areas of Operation
As of December 31, 2025, our assets and investments consisted of the following:
| WhollyOwned andOperated | OperatedInterests | EquityInterests | |
|---|---|---|---|
| Gathering systems | 13 | 2 | 1 |
| Treating facilities | 43 | 3 | — |
| Processing plants/trains | 27 | 3 | 1 |
| Produced-water gathering, treating, recycling, and disposal systems | 8 | — | — |
| NGLs pipelines | 3 | — | 4 |
| Natural-gas pipelines | 6 | — | 1 |
| Crude-oil pipelines | 2 | 1 | 1 |
These assets and investments are located in Texas, New Mexico, and the Rocky Mountains (Colorado, Utah, and Wyoming). The following table provides information regarding our assets by geographic region, as of and for the year ended December 31, 2025:
| Area · Asset Type · Miles of Pipeline (1) · Processing or Treating Capacity (MMcf/d) (1) · Processing, Treating, or Disposal Capacity (MBbls/d) (1) · Average Throughput for Natural-Gas Assets(MMcf/d) (2) · Average Throughput for Crude-Oil and NGLs Assets(MBbls/d) (2) · Average Throughput for Produced-Water Assets(MBbls/d) (2) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Texas / New Mexico | Gathering, Processing, Treating, Disposal, and Recycling | 5,141 | 2,620 | 6,072 | 2,453 | 284 | 1,608 | ||||
| Transportation | 1,307 | — | — | 448 | 89 | — | |||||
| Rocky Mountains | Gathering, Processing, and Treating | 6,905 | 3,160 | 232 | 2,391 | 97 | — | ||||
| Transportation | 1,557 | — | — | 112 | 54 | — | |||||
| Total | 14,910 | 5,780 | 6,304 | 5,404 | 524 | 1,608 | |||||
(1)All system metrics are presented on a gross basis. Includes (i) bypass capacity at the DJ Basin and West Texas complexes and (ii) recycling capacity at the DBM water systems.
(2)Includes throughput for all assets owned and ownership interests accounted for by us under the equity method of accounting. For further details see Properties below.
Our operations are organized into a single operating segment that engages in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering, transporting, recycling, treating, supplying, and disposing of produced water. See Part II, Item 8 of this Form 10-K for disclosure of revenues and operating income (loss) for the years ended December 31, 2025, 2024, and 2023, and total assets for the years ended December 31, 2025 and 2024.
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