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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Total revenues $ 326,465 $ 273,502 [1] $ 935,866 $ 750,670 [1]
Equity income, net 19,063 [2],[3] 4,520 [1],[2],[3] 41,322 [2],[3],[4] 11,944 [1],[2],[3],[4]
Operating expenses        
Cost of product 108,393 [5] 93,516 [1],[5] 318,428 [5] 270,059 [1],[5]
Operation and maintenance 53,657 [5] 42,757 [1],[5] 145,064 [5] 121,165 [1],[5]
General and administrative 8,666 [5] 7,962 [1],[5] 26,809 [5] 25,100 [1],[5]
Property and other taxes 6,564 6,649 [1] 20,718 18,520 [1]
Depreciation, amortization and impairments 45,651 37,615 [1] 130,009 106,551 [1]
Total operating expenses 222,931 188,499 [1] 641,028 541,395 [1]
Operating income 122,597 89,523 [1] 336,160 221,219 [1]
Interest income, net - affiliates 4,225 [6] 4,225 [1],[6] 12,675 [6] 12,675 [1],[6]
Interest expense (20,878) (13,018) [1] (55,703) (37,483) [1]
Other income (expense), net 118 466 [1] 849 1,686 [1]
Income before income taxes 106,062 81,196 [1] 293,981 198,097 [1]
Income tax (benefit) expense 278 (27) [1] 276 4,192 [1]
Net income 105,784 81,223 [1] 293,705 193,905 [1]
Net income attributable to noncontrolling interests 45,832 36,779 [1] 128,958 82,562 [1]
Net income attributable to Western Gas Equity Partners, LP 59,952 44,444 164,747 111,343 [1]
Limited partners' interest in net income:        
Pre-acquisition net (income) loss allocated to Anadarko 0 (106) [1] 956 (4,616) [1]
Limited partners' interest in net income 59,952 [7] 44,338 [1],[7] 165,703 [7] 106,727 [1],[7]
Affiliated Entity [Member]
       
Revenues        
Gathering, processing and transportation of natural gas and natural gas liquids 104,258 83,606 [1] 288,392 218,680 [1]
Natural gas, natural gas liquids and condensate sales 138,464 129,411 [1] 415,715 371,077 [1]
Other, net 2,778 108 [1] 4,349 1,253 [1]
Total revenues 245,500 [2] 213,125 [1],[2] 708,456 [2] 591,010 [1],[2]
Operating expenses        
Cost of product 22,728 [2] 33,753 [2] 74,592 [2] 97,801 [2]
Operation and maintenance 14,556 [8] 13,469 [8] 42,472 [8] 41,021 [8]
General and administrative 6,765 [9] 6,090 [9] 20,402 [9] 17,981 [9]
Total operating expenses 44,049 53,312 137,466 156,803
Third Parties [Member]
       
Revenues        
Gathering, processing and transportation of natural gas and natural gas liquids 64,098 47,175 [1] 182,663 124,791 [1]
Natural gas, natural gas liquids and condensate sales 11,630 11,915 [1] 37,471 31,539 [1]
Other, net 5,237 1,287 [1] 7,276 3,330 [1]
Total revenues $ 80,965 $ 60,377 [1] $ 227,410 $ 159,660 [1]
Limited Partner [Member] | Common Units [Member]
       
Limited partners' interest in net income:        
Net income per common unit - basic and diluted $ 0.27 $ 0.20 [1] $ 0.76 $ 0.49 [1]
Weighted average common units outstanding - basic and diluted 218,903 218,896 [1] 218,903 218,896 [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] Represents amounts earned or incurred on and subsequent to the date of acquisition of WES assets, as well as amounts earned or incurred 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.
[3] Income earned from equity investments is classified as affiliate. See Note 1.
[4] Income earned on, distributions from and contributions to equity investments are classified as affiliate. See Note 1.
[5] Cost of product includes product purchases from Anadarko (as defined in Note 1) of $22.7 million and $74.6 million for the three and nine months ended September 30, 2014, respectively, and $33.8 million and $97.8 million for the three and nine months ended September 30, 2013, respectively. Operation and maintenance includes charges from Anadarko of $14.6 million and $42.5 million for the three and nine months ended September 30, 2014, respectively, and $13.5 million and $41.0 million for the three and nine months ended September 30, 2013, respectively. General and administrative includes charges from Anadarko of $6.8 million and $20.4 million for the three and nine months ended September 30, 2014, respectively, and $6.1 million and $18.0 million for the three and nine months ended September 30, 2013, respectively. See Note 5.
[6] Represents interest income recognized on the note receivable from Anadarko.
[7] Represents net income earned on and subsequent to the date of acquisition of WES assets (as defined in Note 1). See Note 4.
[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.