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Western Gas touts 'impressive' Q4'17 results on Delaware, DJ Basin activity

Western Gas Partners LP on Feb. 15, 2018, reported fourth-quarter 2017 adjusted EBITDA of $273.3 million, up from $268.4 million in the prior-year period. The S&P Global Market Intelligence consensus adjusted EBITDA estimate was $262.3 million.

The Anadarko Petroleum Corp. master limited partnership's distributable cash flow in the fourth quarter was $233.4 million, an increase from $223.8 million in the year-earlier period. Western Gas Partners reported net income of $148.6 million, up from $143.0 million in 2016.

"Our impressive quarterly results were driven by strong volumetric growth in both the Delaware and DJ Basins where producer activity remains robust," Western Gas Partners CEO Benjamin Fink said. "In the Delaware Basin, we are pleased to report that Ramsey VI came online at the end of the quarter, just as the rest of the Ramsey facility was nearing capacity."

For the full year, the partnership posted adjusted EBITDA of $1.06 billion, up from $1.03 billion in 2016. The S&P Global Market Intelligence consensus estimate for full-year adjusted EBITDA was $1.05 billion.

Distributable cash flow for the year was $929.0 million, up from $852.4 million in the previous year. Net income came to $567.5 million, compared with net income of $591.3 million in 2016.