XML 87 R38.htm IDEA: XBRL DOCUMENT

Transactions with Affiliates (Tables)

12 Months Ended

Dec. 31, 2019

The tables below summarize the swap prices compared to the forward market prices:



	DJ Basin Complex
per barrel except natural gas	2017 - 2018 Swap Prices		2017 Market Prices ⁽¹⁾		2018 Market Prices ⁽¹⁾
Ethane	$	18.41	$	5.09	$	5.41
Propane	47.08		18.85		28.72
Isobutane	62.09		26.83		32.92
Normal butane	54.62		26.20		32.71
Natural gasoline	72.88		41.84		48.04
Condensate	76.47		45.40		49.36
Natural gas (per MMBtu)	5.96		3.05		2.21



	MGR Assets
per barrel except natural gas	2017 - 2018 Swap Prices		2017 Market Prices ⁽¹⁾		2018 Market Prices ⁽¹⁾
Ethane	$	23.11	$	4.08	$	2.52
Propane	52.90		19.24		25.83
Isobutane	73.89		25.79		30.03
Normal butane	64.93		25.16		29.82
Natural gasoline	81.68		45.01		47.25
Condensate	81.68		53.55		56.76
Natural gas (per MMBtu)	4.87		3.05		2.21

⁽¹⁾

Represents the New York Mercantile Exchange forward strip price as of December 1, 2016 and December 20, 2017, for the 2017 Market Prices and 2018 Market Prices, respectively, adjusted for product specification, location, basis, and, in the case of NGLs, transportation and fractionation costs.

Related Party Transactions Tables

The following table summarizes the amounts the Partnership reimbursed to Occidental, separate from, and in addition to, those reimbursed by WES Operating:



	Year Ended December 31,
thousands	2019		2018		2017
General and administrative expenses	$	604	$	269	$	263
Public company expenses	4,089		2,895		1,821
Total reimbursement	$	4,693	$	3,164	$	2,084

The following table summarizes material affiliate transactions included in the Partnership’s consolidated financial statements:



	Year ended December 31,
thousands	2019		2018		2017
Revenues and other ⁽¹⁾	$	1,607,396	$	1,353,711	$	1,539,105
Equity income, net – affiliates ⁽¹⁾	237,518		195,469		115,141
Operating expenses
Cost of product ⁽¹⁾	254,771		168,535		74,560
Operation and maintenance ⁽¹⁾	146,990		115,948		82,249
General and administrative ⁽²⁾	101,485		49,672		43,221
Total operating expenses	503,246		334,155		200,030
Interest income ⁽³⁾	16,900		16,900		16,900
Interest expense ⁽⁴⁾	1,970		6,746		224
APCWH Note Payable borrowings	11,000		321,780		98,813
Repayment of APCWH Note Payable	439,595		—		—
Settlement of the Deferred purchase price obligation – Anadarko ⁽⁵⁾	—		—		(37,346		)
Distributions to Partnership unitholders ⁽⁶⁾	566,868		400,194		360,523
Distributions to WES Operating unitholders ⁽⁷⁾	19,768		7,583		7,100
Above-market component of swap agreements with Anadarko	7,407		51,618		58,551


⁽¹⁾	Represents amounts earned or incurred on and subsequent to the date of the acquisition of assets from Anadarko, and amounts earned or incurred by Anadarko on a historical basis for periods prior to the acquisition of such assets.

⁽²⁾

Represents general and administrative expense incurred on and subsequent to the date of the acquisition of assets from Anadarko, and a management services fee for expenses incurred by Anadarko for periods prior to the acquisition of such assets. These amounts include equity-based compensation expense allocated to the Partnership by Occidental (see LTIPs and Incentive Plans within this Note 6) and amounts charged by Occidental under the WES and WES Operating omnibus agreements.


⁽³⁾	Represents interest income recognized on the Anadarko note receivable.


⁽⁴⁾	Includes amounts related to finance leases and the APCWH Note Payable (see Note 1 and Note 13).


⁽⁵⁾	Represents the cash payment to Anadarko for the settlement of the Deferred purchase price obligation – Anadarko (see Note 3).


⁽⁶⁾	Represents distributions paid to Occidental pursuant to the partnership agreement of the Partnership (see Note 4 and Note 5).

⁽⁷⁾

Represents distributions paid to certain subsidiaries of Occidental pursuant to WES Operating’s partnership agreement (see Note 4 and Note 5).

The following table summarizes affiliate contributions of other assets to the Partnership:



	Year Ended December 31,
thousands	2019			2018			2017
Cash consideration paid	$	(425	)	$	(254	)	$	(3,910	)
Net carrying value	335			59,089			5,283
Partners’ capital adjustment	$	(90	)	$	58,835		$	1,373

LTIP Award Activity Tables

The following table summarizes award activity under the Western Gas Equity Partners, LP 2012 Long-Term Incentive Plan for the years ended December 31, 2019, 2018, and 2017:



	2019				2018				2017
	Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value		Units
Phantom units outstanding at beginning of year	$	35.08	7,128		$	43.39	5,763		$	39.78	5,658
Granted	29.75		25,212		35.08		7,128		43.39		5,763
Vested	31.62		(44,572	)	43.39		(5,763	)	39.78		(5,658	)
Converted ⁽¹⁾	33.46		12,232		—		—		—		—
Phantom units outstanding at end of year	—		—		35.08		7,128		43.39		5,763


⁽¹⁾	At closing of the Merger, WES Operating phantom units awarded under the Western Gas Partners, LP 2017 Long-Term Incentive Plan converted into phantom units of the Partnership under the Western Gas Equity Partners, LP 2012 Long-Term Incentive Plan.

6. TRANSACTIONS WITH AFFILIATES (CONTINUED)

The following table summarizes award activity under the Western Gas Partners, LP 2017 Long-Term Incentive Plan, which was assumed by the Partnership in connection with the Merger, for the years ended December 31, 2019, 2018, and 2017:



	2019				2018				2017
	Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value		Units		Weighted-Average Grant-Date Fair Value		Units
Phantom units outstanding at beginning of year	$	49.88	8,020		$	55.73	7,180		$	49.30	7,304
Granted	—		—		49.88		8,020		55.73		7,180
Vested	—		—		55.73		(7,180	)	49.30		(7,304	)
Converted ⁽¹⁾	49.88		(8,020	)	—		—		—		—
Phantom units outstanding at end of year	—		—		49.88		8,020		55.73		7,180

⁽¹⁾

At closing of the Merger, WES Operating phantom units awarded under the Western Gas Partners, LP 2017 Long-Term Incentive Plan converted into phantom units of the Partnership under the Western Gas Equity Partners, LP 2012 Long-Term Incentive Plan.

WES Operating [Member]

Related Party Transactions Tables

The following table summarizes material affiliate transactions for WES Operating (which are included in the Partnership’s consolidated financial statements) to the extent the amounts differ from the Partnership’s consolidated financial statements:



	Year ended December 31,
thousands	2019		2018		2017
General and administrative ⁽¹⁾	$	99,613	$	48,819	$	42,411
Distributions to WES Operating unitholders ⁽²⁾	1,025,931		514,906		452,777

⁽¹⁾

Represents general and administrative expense incurred on and subsequent to the date of the acquisition of assets from Anadarko, and a management services fee for expenses incurred by Anadarko for periods prior to the acquisition of such assets. These amounts include equity-based compensation expense allocated to WES Operating by Occidental (see LTIPs and Incentive Plans within this Note 6) and amounts charged by Occidental pursuant to the WES Operating omnibus agreement.

⁽²⁾

Represents distributions paid to the Partnership and certain subsidiaries of Occidental pursuant to WES Operating’s partnership agreement (see Note 4 and Note 5). For the year ended December 31, 2019, includes distributions to the Partnership and a subsidiary of Occidental related to the repayment of the WGP RCF (see Note 13).

The following table summarizes the amounts WES Operating reimbursed to Occidental pursuant to the WES Operating omnibus agreement:



	Year Ended December 31,
thousands	2019		2018		2017
General and administrative expenses	$	84,039	$	35,077	$	31,733
Public company expenses	4,065		15,409		9,379
Total reimbursement	$	88,104	$	50,486	$	41,112