Western Midstream Partners LP (WES) has announced the pricing for an underwritten secondary public offering, where affiliates of Occidental (OXY) will be offering 19 million common units representing limited partner interests in WES. This offering is anticipated to generate gross proceeds of $685.9 million.
The transaction is slated to conclude on August 14, 2024.
The selling unitholders have provided Barclays, the underwriter, with a 30-day option to purchase up to an additional 2.85 million common units from the selling unitholders, at the public offering price, minus underwriting discounts and commissions.
It's important to note that Western Midstream Partners itself is not selling any common units in this offering and will not receive any proceeds from the sale of these units.
