Western Gas Partners, LP is a growth-oriented Delaware master limited partnership formed by Anadarko to own, operate, acquire and develop midstream energy assets. WES’s assets are located in East, West and South Texas, the Rocky Mountains (Colorado, Utah and Wyoming), North-Central Pennsylvania and the Mid-Continent (Kansas and Oklahoma), and WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as third-party producers and customers.

Western Gas Equity Partners, LP (NYSE: WGP)

Western Gas Equity Partners, LP is a Delaware master limited partnership formed by Anadarko to own WES’s general partner, all of WES’s incentive distribution rights, and a substantial limited partner interest in WES. Through its ownership of WES’s general partner, WGP manages and controls WES. The incentive distribution rights entitle WGP to increasing percentages, up to a maximum level of 48.0%, of any incremental cash distributed by WES as certain target distribution levels are reached with respect to any quarter.

Strategy

Our mission is to provide sustainable distribution growth for our unitholders by constructing, acquiring and expanding midstream assets in high-quality producing basins strategic to our parent sponsor, Anadarko Petroleum Corporation, and other third-party producers.

We will execute our mission using these guiding principles:

1. Pursue accretive acquisitions and organic growth opportunities from our sponsor, Anadarko Petroleum Corporation, a premier independent oil & gas company with a substantial portfolio of upstream and midstream assets, and select third-party opportunities
2. Exercise discipline to maintain financial flexibility and an investment-grade credit rating
3. Protect our cash flows by reducing commodity price risk through a combination of fee-based contracts and fixed price hedges and reducing volumetric risk through demand charge contracts
4. Commit to operational excellence that will safeguard our employees and local communities.

WES Governance

The Board of Directors of Western Gas Holdings, LLC, our general partner, provides oversight of our operations and activities. The Board of Directors has eight directors, four of whom are independent as defined under the independence standards established by the New York Stock Exchange and federal securities laws.