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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Total revenues $ 329,944 $ 251,402 [1] $ 609,401 $ 477,168 [1]
Equity income, net 13,008 [2] 3,456 [1],[2] 22,259 [2],[3] 7,424 [1],[2],[3]
Operating expenses        
Cost of product 118,085 [4] 93,460 [1],[4] 210,035 [4] 176,543 [1],[4]
Operation and maintenance 50,875 [4] 41,669 [1],[4] 91,407 [4] 78,408 [1],[4]
General and administrative 8,757 [4] 8,209 [1],[4] 18,143 [4] 17,138 [1],[4]
Property and other taxes 7,113 6,086 [1] 14,154 11,871 [1]
Depreciation, amortization and impairments 43,746 36,496 [1] 84,358 68,936 [1]
Total operating expenses 228,576 185,920 [1] 418,097 352,896 [1]
Operating income 114,376 68,938 [1] 213,563 131,696 [1]
Interest income, net - affiliates 4,225 [5] 4,225 [1],[5] 8,450 [5] 8,450 [1],[5]
Interest expense (20,864) (12,654) [1] (34,825) (24,465) [1]
Other income, net 235 493 [1] 731 1,220 [1]
Income before income taxes 97,972 61,002 [1] 187,919 116,901 [1]
Income tax (benefit) expense 226 53 [1] (2) 4,219 [1]
Net income 97,746 60,949 [1] 187,921 112,682 [1]
Net income attributable to noncontrolling interest 42,492 26,422 [1] 83,126 45,783 [1]
Net income attributable to Western Gas Equity Partners, LP 55,254 34,527 [1] 104,795 66,899 [1]
Limited partners' interest in net income:        
Pre-acquisition net (income) loss allocated to Anadarko 0 948 [1] 956 (4,510) [1]
Limited partners' interest in net income 55,254 [6] 35,475 [1],[6] 105,751 [6] 62,389 [1],[6]
Affiliated Entity [Member]
       
Revenues        
Gathering, processing and transportation of natural gas and natural gas liquids 98,973 69,175 [1] 184,134 135,074 [1]
Natural gas, natural gas liquids and condensate sales 156,851 129,996 [1] 277,251 241,666 [1]
Other, net 842 1,145 [1] 1,571 1,145 [1]
Total revenues 256,666 [7] 200,316 [1],[7] 462,956 [7] 377,885 [1],[7]
Operating expenses        
Cost of product 35,230 [7] 32,119 [7] 51,864 [7] 64,048 [7]
Operation and maintenance 16,817 [8] 14,186 [8] 27,916 [8] 27,552 [8]
General and administrative 6,644 [9] 5,803 [9] 13,637 [9] 11,891 [9]
Total operating expenses 58,691 52,108 93,417 103,491
Third Parties [Member]
       
Revenues        
Gathering, processing and transportation of natural gas and natural gas liquids 62,277 40,625 [1] 118,565 77,616 [1]
Natural gas, natural gas liquids and condensate sales 9,803 9,565 [1] 25,841 19,624 [1]
Other, net 1,198 896 [1] 2,039 2,043 [1]
Total revenues $ 73,278 $ 51,086 [1] $ 146,445 $ 99,283 [1]
Limited Partner [Member] | Common Units [Member]
       
Limited partners' interest in net income:        
Net income per common unit - basic and diluted $ 0.25 $ 0.16 [1] $ 0.48 $ 0.29 [1]
Weighted average common units outstanding - basic and diluted 218,903,000 218,896,000 [1] 218,903,000 218,896,000 [1]
[1] Financial information has been recast to include the financial position and results attributable to the TEFR Interests. See Note 1 and Note 2.
[2] Income earned from equity investments is classified as affiliate. See Note 1.
[3] Income earned on, distributions from and contributions to equity investments are classified as affiliate. See Note 1.
[4] Cost of product includes product purchases from Anadarko (as defined in Note 1) of $35.2 million and $51.9 million for the three and six months ended June 30, 2014, respectively, and $32.1 million and $64.0 million for the three and six months ended June 30, 2013, respectively. Operation and maintenance includes charges from Anadarko of $16.8 million and $27.9 million for the three and six months ended June 30, 2014, respectively, and $14.2 million and $27.6 million for the three and six months ended June 30, 2013, respectively. General and administrative includes charges from Anadarko of $6.6 million and $13.6 million for the three and six months ended June 30, 2014, respectively, and $5.8 million and $11.9 million for the three and six months ended June 30, 2013, respectively. See Note 5.
[5] Represents interest income recognized on the note receivable from Anadarko.
[6] Represents net income earned on and subsequent to the date of acquisition of WES assets (as defined in Note 1). See Note 4
[7] Represents amounts earned on and subsequent to the date of acquisition of WES assets, as well as amounts earned by Anadarko on a historical basis related to WES assets prior to the acquisition of such assets by WES, recognized under gathering, treating or processing agreements, and purchase and sale agreements.
[8] Represents expenses incurred on and subsequent to the date of the acquisition of WES assets, as well as expenses incurred by Anadarko on a historical basis related to WES assets prior to the acquisition of such assets by WES.
[9] Represents general and administrative expense incurred on and subsequent to the date of WES’s acquisition of WES assets, as well as a management services fee for reimbursement of expenses incurred by Anadarko for periods prior to the acquisition of WES assets by WES. These amounts include equity-based compensation expense allocated to WES and WGP by Anadarko (see WES LTIP and WGP LTIP and Anadarko Incentive Plans within this Note 5) and amounts charged by Anadarko under the WGP omnibus agreement.