Western Gas Partners LP Earnings Call Nuggets: Marcellus Asset and Organic Growth

Western Gas Partners, LP (NYSE:WES) recently reported its fourth quarter earnings and discussed the following topics in its earnings conference call.

Marcellus Asset

Brett Reilly – Credit Suisse: Just a quick question on the dropdown on third-party acquisition. Can you maybe give us a little color on why you chose to go after the Marcellus asset versus some of the other areas in which Anadarko was operating?

Donald R. Sinclair – President and CEO: Brett, I want to make sure I understand the question you’re asking about. Is it the Anadarko drop or the Chesapeake acquisition? I want to make sure I answer the question….

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Brett Reilly – Credit Suisse: Just I guess more generally, why the Marcellus, I guess on the dropdown side of things, relative to maybe some of the systems in the Eagleford or other areas the Anadarko is really ramping?

Donald R. Sinclair – President and CEO: Right, you know we look at numerous variables before we determine what could be our next acquisition from Anadarko. There’s capital maturity, quality resources, contracts, and scale and scope. When we went to the inventory and looked at where we are in time, we thought the Marcellus assets based on the quality of the contracts, and the scale and scope fit us best at this time.

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