XML 64 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Noncontrolling Interests
9 Months Ended
Sep. 30, 2014
Noncontrolling Interest Items [Abstract]  
Noncontrolling Interests
6. Noncontrolling Interests

Western Gas Equity Partners, LP (WGP) is a publicly traded consolidated subsidiary formed to own substantially all of the partnership interests in WES previously owned by Anadarko. During the third quarter of 2014, Anadarko sold 5.75 million WGP limited partner units to the public, raising net proceeds of $335 million. At September 30, 2014, Anadarko’s ownership interest in WGP consisted of an 88.3% limited partner interest and the entire non-economic general partner interest. The remaining 11.7% limited partner interest in WGP was owned by the public.
WES, a publicly traded consolidated subsidiary, is a limited partnership formed by Anadarko to own, operate, acquire, and develop midstream assets. During the first quarter of 2014, WES issued 300,000 common units to the public pursuant to the partial exercise of the underwriters’ over-allotment option granted in connection with WES’s December 2013 equity offering, raising additional net proceeds of $18 million. During the nine months ended September 30, 2014, WES also sold 1.1 million common units to the public under its continuous offering program, raising net proceeds of $81 million. At September 30, 2014, WGP’s ownership interest in WES consisted of a 40.6% limited partner interest, the entire 2.0% general partner interest, and all of the WES incentive distribution rights. At September 30, 2014, Anadarko also owned a 0.6% limited partner interest in WES through other subsidiaries. The remaining 56.8% limited partner interest in WES was owned by the public.