Debt and Interest Expense (tables)

3 Months Ended

Mar. 31, 2015

Debt Instruments [Abstract]

Debt Outstanding and Debt Activity Tables

The following table presents WES and WGP’s outstanding debt as of March 31, 2015, and December 31, 2014:

	March 31, 2015						December 31, 2014
thousands	Principal		Carrying Value		Fair Value(1)		Principal		Carrying Value		Fair Value (1)
WGP working capital facility - Anadarko	$	—	$	—	$	—	$	1,150	$	1,150	$	1,150
Long-term debt
2021 Notes	$	500,000	$	495,854	$	555,175	$	500,000	$	495,714	$	549,530
2022 Notes	670,000		672,841		683,554		670,000		672,930		681,942
WES RCF	620,000		620,000		620,000		510,000		510,000		510,000
2018 Notes	350,000		350,443		355,372		350,000		350,474		352,162
2044 Notes	400,000		393,857		433,456		400,000		393,836		417,619
Total long-term debt	$	2,540,000	$	2,532,995	$	2,647,557	$	2,430,000	$	2,422,954	$	2,511,253

⁽¹⁾  Fair value is measured using Level 2 inputs.

9.  DEBT AND INTEREST EXPENSE (CONTINUED)

Debt activity. The following table presents WES and WGP’s debt activity for the three months ended March 31, 2015:

thousands	Carrying Value
Balance at December 31, 2014	$	2,424,104
WES RCF borrowings	140,000
Repayment of WES RCF	(30,000		)
Repayment of WGP working capital facility	(1,150		)
Other	41
Balance at March 31, 2015	$	2,532,995

Interest Expense Table

The following table summarizes the amounts included in interest expense:

	Three Months Ended   March 31,
thousands	2015			2014
Third parties
Long-term debt	$	23,342		$	16,135
Amortization of debt issuance costs and commitment fees	1,292			1,266
Capitalized interest	(3,094		)	(3,440		)
Total interest expense – third parties	21,540			13,961
Affiliates
WGP WCF	2			—
Deferred purchase price obligation – Anadarko (1)	1,420			—
Total interest expense – affiliates	1,422			—
Interest expense	$	22,962		$	13,961

⁽¹⁾  See Note 2 for a discussion of the accretion and present value of the Deferred purchase price obligation - Anadarko.