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Western Gas partnerships boost quarterly distribution

Western Gas Partners LP and Western Gas Equity Partners LP raised their distributions for the third quarter by roughly 2% each over the previous quarter.

Western Gas Partners increased its distribution to 96.5 cents per unit, up 1.5 cents, or 1.6%, from the previous quarter. The distribution is an increase of 6.0 cents, or 7%, year over year. The distribution is payable Nov. 13 to common unit holders of record as of Oct. 31.

Western Gas Equity Partners increased its distribution for the third quarter to 59.5 cents per unit, up 1.2 cents, or 2.1%, from the second quarter. The distribution represents an increase of 5.7 cents, or 11%, year over year. The distribution is payable Nov. 21 to common unit holders of record as of Oct. 31.

Western Gas was formed by Anadarko Petroleum Corp. to own and operate oil and gas midstream assets in the Rocky Mountains, north-central Pennsylvania, Texas and New Mexico. Western Gas Equity Partners holds the general partner interest and all of the incentive distribution rights in Western Gas.