Western Midstream Completes Acquisition of Aris Water Solutions.

Western Midstream Partners has completed its acquisition of Aris Water Solutions, solidifying its position as a leading midstream provider in the Delaware Basin. The combined entity will offer integrated water solutions for producers in Texas and New Mexico, including produced-water gathering, recycling, transportation, disposal, and beneficial reuse. WES President and CEO Oscar K. Brown expressed enthusiasm for the acquisition and the opportunity to grow the combined entity.

Western Midstream Partners, LP (WES) has completed its acquisition of Aris Water Solutions, Inc. (Aris), solidifying its position as a leading midstream provider in the Delaware Basin. The acquisition will enable WES to offer comprehensive water solutions for producers in Texas and New Mexico, including produced-water gathering, recycling, transportation, disposal, and beneficial reuse.

The acquisition, finalized on October 15, 2025, was announced by Oscar K. Brown, President and CEO of WES. Brown expressed enthusiasm for the acquisition, stating that it will strengthen WES's position as a three-stream midstream and flow-assurance provider. The combined entity will be well-positioned to meet the challenges facing producers in the region, including the efficient management of produced water.

Under the terms of the merger agreement, each share of Aris's Class A common stock and Aris Water Holdings, LLC (Aris OpCo Units) was converted into consideration from WES. This included either 0.625 common units representing limited partner interests in WES, $25.00 in cash, or a combination of 0.450 common units and $7.00 in cash. In total, Aris securityholders will receive approximately 28% of the consideration in cash and approximately 72% in common units. The total consideration to be paid in cash is $415.0 million, and the total consideration in equity is approximately 26.6 million common units, according to a PR Newswire release https://www.prnewswire.com/news-releases/western-midstream-completes-acquisition-of-aris-water-solutions-302585033.html.

Western Midstream Partners is a master limited partnership engaged in the development, acquisition, ownership, and operation of midstream assets. With assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. The acquisition of Aris will enhance WES's capabilities in the Delaware Basin and strengthen its position in the midstream market, the release noted.

The acquisition is subject to certain risks and uncertainties, including the ability to successfully integrate the businesses, risks related to disruption of management time, market price volatility, and the potential for adverse effects on customer relationships and operating results. These risks are detailed in WES's annual reports, quarterly reports, and current reports available on its website and the SEC's website, as noted in the PR Newswire announcement.