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WES

Western Midstream (NYSE:$WE) Reports First-Quarter 2024 ResultsWestern Midstream Partners (NYSE: ASX:WES ) announced its first-quarter 2024 financial and operating results, generating a record net income attributable to limited partners of $559.5 million and a record adjusted EBITDA of $608.4 million. The company also reported cash flows provided by operating activities of $399.7 million, generating a first-quarter Free cash flow of $225.0 million. The company announced a first-quarter Base Distribution of $0.875 per unit, or $3.50 per unit annually, representing a 52-percent increase over the prior quarter's distribution. Western Midstream Partners (NYSE: ASX:WES ) achieved record natural-gas throughput across its asset base and in the Delaware Basin of 5.2 Bcf/d and 1.8 Bcf/d, respectively, representing a 2-percent and 3-percent sequential-quarter increase, respectively. It also achieved operated asset crude-oil and NGLs throughput of 374 MBbls/d, representing a 2-percent sequential-quarter increase. The company also achieved record Delaware Basin produced-water throughput of 1,149 MBbls/d, representing a 7-percent sequential-quarter increase. Western Midstream closed all five previously announced non-core asset sales for total aggregate proceeds of $794.8 million, including $5.9 million in pro-rata distributions through closing. The company completed the start-up of Mentone III, increasing WES's operated, nameplate natural-gas processing capacity by 300 MMcf/d to approximately 1.9 Bcf/d at its West Texas complex in the Delaware Basin. The company repurchased $15.1 million of senior notes through open-market transactions during the first quarter and an additional $134.9 million to date in the second quarter, all at approximately 96-percent of par. On May 15, 2024, ASX:WES will pay its first-quarter 2024 per-unit Base Distribution of $0.875, which is an increase of 52-percent compared to the prior quarter's distribution. First-quarter 2024 Free cash flow(1) after distributions totaled $1.5 million, and first-quarter 2024 capital expenditures totaled $205.4 million. The company's President and CEO, Michael Ure, expressed satisfaction with the first quarter's success, citing increased throughput across all operated assets and products, new gathering records for natural-gas and produced-water throughput in the Delaware Basin, and continued growth in the DJ Basin.
NYSE:WES
by DEXWireNews
Another Country Breaking Out - Australia!When we look around the world, it often feels like the sky is falling if you tune into financial media. Well here, we look at the charts and see if we can find trends. We have a new breakout in an important commodity economy. Australia! Let’s have a look at the chart. So here we have Australia going nowhere since June. Tons of failed breakouts with the wicks not being able to stay above 6130. We finally get the breakout with follow through as well. Not only do we have the breakout in price, we also have a breakout in RSI terms. This is bullish. Right now we are looking for stuff to buy. We have made that clear. Now we can add Australia to the list of markets that are breaking out. Happy Trading!
OANDA:AU200AUDLong
by derzzycharts
Trading Edge 2020 Portfolio -Trade #11- WES - Inverse H+STicker: WES Position: ~ $7.00 Strike Call (Currently around $0.62/ contract) ~ May 15th expiry ~ Delta = 0.57 ~ Risk no more than $300 (4-5 contracts) Exit/ Profit Targets: ~ Close below the neckline = exit trade (approximately $6.00) ~ Initial target = $8.00 ~ Secondary target = $11.00 Rationale: ~ Inverted H+S breakout ~ RSI confirming latest move higher ~ Presence of a gap (stretch target) ~ Moving averages are suggesting (at least near-term) a continued bounce -TradingEdge
NYSE:WESLong
by Profit_Link
WES - Potential Inverse H+S - $9.00 TargetQuick pattern update here. WES appears to have an Inverse H+S pattern forming on the lower timeframe. A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses. WES has been one on my list for a while lately and I recently closed a position for over 170% gain. The news surrounding oil prices is negative, however WES is a refiner not a producer, so WES, if anything would have benefited (in the short-term) with the negative May contract prices. I may look to do a more detailed write up on WES in the coming day or so, concerning position details. -TradingEdge
NYSE:WESLong
by Profit_Link
2
Trading Edge 2020 Portfolio -Trade #9 - WES - Oil Lotto TicketTicker: WES Position: ~ $4.00 Strike Calls ~ May 15th Expiry ~ Cost = $0.40/ contract (at time of writing) ~ Delta = 0.56 ~ Run 5x contracts = $200 total outlay for the trade (subject to change) Profit Targets/ Exit: ~ Due to the low cost of the trade, i will likely not run a stop on this position, but i have outlined a stop at the $2.50 level ~ Initial Target = $5.30 (325% gain) ~ Secondary Target = $8.00 (1000% gain) ~ Third Target = $11.00 (1750% gain) *predicated on a gap fill* ~ I will be rolling at each profit target also, in order to take money off the table as it appears Rationale: ~ Although i believe that there is more downside for the broader market to come, it is also a very real possibility that the market is not ready to roll back over just yet, with that in mind, i think having some strategic long positions is prudent ~ The asymmetry nature of this trade is highly desirable, as even a move to the initial target yields very high rewards, albeit the risk is the total premium paid, hence the small position size -TradingEdge
NYSE:WESLong
by Profit_Link
Trading Edge 2020 Portfolio - Trade #3 - WES - Short Term PutTicker: WES (right side is XLE for comparative purposes on a weekly) Position: - Feb 21st Expiry - 5x $20 Strike Puts (ITM) - delta = 0.60 - cost = $1.38/ contract - 5x $18 Strike Puts (OTM) - delta = 0.19 - cost = $0.35/ contract - Should the stock move to the initial target, the OTM options will be more than covered by the ITM options increase in premium Profit Target/ Exit: - Initial target = $18.00 (green line) - Exit for the $20 strike puts is 2 closes above the daily 21 ema (white line), there is no stop for the $18 strike puts, therefore the full premium is at risk (hence the lower capital allocation) Rationale: - shorter term play on the relative weakness of the energy sector - XLE (energy sector ETF) has displayed a bearish moving average cross and appears to be deteriorating, as well as several stocks within the sector have appeared in my screening process as potential candidates, one of which is WES - smaller position size, with overall capital allocation only 3.8% of portfolio, so a relatively small trade, that even if it goes against us will do no long term damage to the overall portfolio and still offers a good opportunity for roughly a 70% gain (at initial target) - WES does appear to be a little on the oversold side of things, so a bounce is certainly possible, this is why the stop is 2 closes above the daily 21 ema, as this should help to keep from being shaken out of the position prematurely -TradingEdge
NYSE:WESShort
by Profit_Link
May WTI CL K LongFeb 17 18:00 AEDT March Futures expire next week hence I am using "K" May 17. As at Feb 7 Net Long CoT Managed Money stood at 360k open interest. (Source CME Group) I commented on the Weekly Chart last week, but thought I would add my view on the Daily, since I am now long oil. I believe this chart shows a bull flag on the late Nov 2016 rise. I have an up sloping channel, with support at 53.10, 53.43 and 53.74. The 53.10 support is formed from the breakout and now re-test on the Jun and Oct highs. The lower flag boundary met good volume on Feb 8 .. 10 as did Jan 11. The last four displayed bars is consolidation of that volume push, and at the time of writing this my 53.50 area is holding. I have observed that breakouts generally never reach their last extrema, but commence mid channel, therefore I will accept a move down to my marked 53.10 line and add positions at my support levels. The long upper pins (Dec 12 and Jan 3) indicate heavy selling pressure, but validates that boundary as a resistance level and profit target. A valid Flag upside breakout will add $8.30 targeting $60+ from the Flag low ... whatever that turns out to be. It then needs to take out the 54.76 and 54.97 pivot points. So this is contrary to the current bearish view, but that is my current view and ... just my 2c worth
NYMEX:CLK2017Long
by Oh_If_Only
4
ASX STO Oil Play LongFeb 12: 23.00 AEDT Ok here is one for the oil bulls. This stock has been beaten up recently, but the falling wedge and solid volume support at $3.60 and $3.90 suggests ST potential. Weekly Support is rising underneath, but at $3.50+ Ok the Trade: Buy now on the bullish gap bar at $3.90 SL $3.80 TP#1 $4.10 TP#2 $4.40 RR := 50/10 If it fails - re-enter at the bottom of the body gap/Weekly support. Buy $3.60 SL $3.50 Tgt $4.40 Profit less our loss above RR 70/10 Tgt is the upper body gap during WTI push higher and the rising tide. Warnings: It has not broken downtrend; There is a 13m short position overhang; The body gap under; Positives: Oil and USD rising - good for the bottom line; Bullish last 3 bars and its above the T-Line; Indicators and BBs (not shown) are positive. My position: Break out (fake) then pull back to lower gap then rally - but it depends upon Oil, $US an the S&P500 := Quick long, short, long This is an opinion not a guarantee and ... just my 2c worth ...
ASX:STOLong
by Oh_If_Only
AUS200 WES D ShortWES is ex dividend Mon 20 Feb by $1.03 so $43.09 - $1.03 := $42+/-. Allowing for slippage, it could trade down to $41.85 Monday before attempting to rally back to support at $42. But over the next few days I believe it will drift lower towards old resistance now support at $41.50 There is also that break away body gap at $40.98-41.18 which needs to fill. The keys will be XJO and AUS200 Futures prices and the bears. So my thoughts are to stay short until I get a candle(s) or indicator(s) or gut feel its time to close and reverse. I will continue to post on this chart and others (STO, Oil, Banks, reader interest etc) ... for just my 2c worth
ASX:WESShort
by Oh_If_Only
ASX ABC LongFeb 12: 11.00 AEDT This stock starts throwing up long pins in consolidation mode. In trend, it tends to have longer bars w/ short pins. My previous discussion (12 Jan) suggested a rally out of (expected) support at $5.29. This failed, and it pulled back to secondary support around $5.15 and $5.10 It is well supported on weekly as shown and has a higher high/ lower low since Dec. This is classic Dow Theory, but volume is modest. I expect this stock to start pushing up now. A close above $5.23 for two days will confirm an upside breakout and I am not expecting a close below $5.13 ABC reports late Feb so price action will be focused on forecast vs reported. I can't show it on this chart, but BB's are squeezing since Feb 9. I intend to nibble now on lower timeframe weakness and add on breakout with an initial tgt at $5.45+ and SL $5.14 At current price $5.19 that's a RR of approx. 5:1 before costs. There is short interest of 5m with avg Daily Volume of 2m. This is an opinion not a guarantee and ... just my 2c worth ...
ALong
by Oh_If_Only