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WESTERN MIDSTREAM ANNOUNCES APPOINTMENT OF ROBERT G. PHILLIPS AS INDEPENDENT DIRECTOR

1. Bob Phillips appointed to WES's board, enhancing leadership expertise. 2. Phillips has 47 years in the midstream industry, boosting WES’s credibility. 3. His past roles include CEO of Crestwood and Enterprise Products. 4. WES aims for capital-efficient growth under Phillips’ guidance. 5. Phillips to focus on sustainability and stakeholder value at WES.

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FAQ

Why Bullish?

The addition of Phillips leverages strong industry experience, likely boosting investor confidence, similar to past M&A successes in the sector.

How important is it?

Phillips' extensive experience is likely to positively influence WES's strategic direction and stakeholder relations, critical for growth.

Why Long Term?

Leadership changes often lead to strategic advancements over time, as seen in past appointments leading to significant growth.

Related Companies

Crestwood Equity Partners LP (CEQP)Enterprise Products Partners L.P. (EPD)
, /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that Robert G. (Bob) Phillips has been appointed as an independent member of its general partner's board of directors. Mr. Phillips brings more than 47 years of experience and leadership in the midstream industry to the board, having recently retired as the Founder, Chairman, and Chief Executive Officer of Crestwood Equity Partners LP ("Crestwood") following its successful merger with Energy Transfer LP in November 2023. Mr. Phillips founded Crestwood in 2010 and over the next 13 years, led the growth of the company to greater than $7.1 billion in enterprise value through a combination of organic growth and M&A activity including successful mergers with Oasis Midstream Partners LP, and Inergy Midstream L.P., as well as the acquisitions of several strategic midstream companies across various shale plays. Prior to forming Crestwood, Mr. Phillips served as President and Chief Executive Officer of Enterprise Products Partners L.P., Chairman and Chief Executive Officer of GulfTerra Energy Partners, L.P. (formerly El Paso Energy Partners LP), and as Chairman, President and Chief Executive Officer of Eastex Energy, Inc. Mr. Phillips currently serves as an independent director of South Bow Corporation, which specializes in transporting Canadian crude oil production to refining markets in the US Midwest and Gulf Coast, and as a director of Enstor Inc., the largest privately owned natural gas storage company in the United States. Mr. Phillips previously served on the board of directors of the Energy Infrastructure Council since its inception in 2019, and he co-chaired the ESG Committee which focused on the development and implementation of industry-wide Sustainability Standards across the midstream sector. "We are delighted to welcome Bob Phillips to our board of directors," said Oscar Brown, President and Chief Executive Officer of WES. "His extensive industry expertise and proven leadership will be instrumental as we continue to execute on our strategy of capital-efficient growth that creates long-term value for all of the stakeholders of WES." "WES is tremendously fortunate to have a candidate with Bob's background join the board," commented Jeff Bennett, Chairman of the general partner's board of directors. "We are confident that Bob will be a valuable addition to our already exceptionally talented group of directors and bring beneficial perspectives as we continue to deliver on our mission of improving lives through safe, sustainable, and efficient energy delivery." Mr. Phillips added, "It is a privilege to join the board of directors of WES's general partner, and I look forward to collaborating with the team to continue building upon WES's strong foundation and to help successfully guide the partnership for years to come." Mr. Phillips will serve on the board's Compensation Committee and Special Committee. With his addition, the board of directors of WES's general partner will have eight members, four of which are independent. ABOUT WESTERN MIDSTREAM Western Midstream Partners, LP ("WES") is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With midstream assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells natural gas, natural-gas liquids, and condensate on behalf of itself and its customers under certain gas processing contracts. A substantial majority of WES's cash flows are protected from direct exposure to commodity price volatility through fee-based contracts. For more information about WES, please visit www.westernmidstream.com. WESTERN MIDSTREAM CONTACTS Daniel JenkinsDirector, Investor Relations [email protected]866-512-3523 Rhianna DischManager, Investor Relations[email protected]866-512-3523 SOURCE Western Midstream Partners, LP WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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