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Equity and Partners' Capital
 9 Months Ended
Sep. 30, 2025
Partners' Capital Notes [Abstract]  
Equity and Partners' Capital
5. EQUITY AND PARTNERS’ CAPITAL

Holdings of Partnership equity. The Partnership’s common units are listed on the New York Stock Exchange under the ticker symbol “WES.” As of September 30, 2025, Occidental held 165,681,578 common units, representing a 42.4% limited partner interest in the Partnership, and through its ownership of the general partner, Occidental indirectly held 9,060,641 general partner units, representing a 2.3% general partner interest in the Partnership. The public held 215,651,691 common units, representing a 55.3% limited partner interest in the Partnership.
On October 15, 2025, the Partnership issued common units in connection with the acquisition of Aris. See Note 12 for additional information.

Partnership equity repurchases. In February 2025, the Board authorized the Partnership to buy back up to $250.0 million of the Partnership’s common units through December 31, 2026 (the “2025 Purchase Program”). The common units may be purchased from time to time in the open market at prevailing market prices or in privately negotiated transactions. During the nine months ended September 30, 2025, the Partnership repurchased no common units. As of September 30, 2025, the Partnership had an authorized amount of $250.0 million remaining under the program.

Partnership’s net income (loss) per common unit. The common and general partner unitholders’ allocation of net income (loss) attributable to the Partnership was equal to their cash distributions plus their respective allocations of undistributed earnings or losses in accordance with their weighted-average ownership percentage during each period using the two-class method.
The following table provides a reconciliation between basic and diluted net income (loss) per common unit:
Three Months Ended 
September 30,		Nine Months Ended 
September 30,
thousands except per-unit amounts2025202420252024
Net income (loss)
Limited partners’ interest in net income (loss)$331,730 $281,772 $967,317 $1,211,113 
Weighted-average common units outstanding
Basic381,330 380,513 381,216 380,343 
Dilutive effect of non-vested phantom units1,458 2,107 1,414 1,846 
Diluted382,788 382,620 382,630 382,189 
Excluded due to anti-dilutive effect— — — 2 
Net income (loss) per common unit
Basic$0.87 $0.74 $2.54 $3.18 
Diluted$0.87 $0.74 $2.53 $3.17 

WES Operating’s net income (loss) per common unit. Net income (loss) per common unit for WES Operating is not calculated because it has no publicly traded units.