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, flow-assurance provider in the Delaware Basin. The acquisition adds to Western Midstream's water solutions capabilities and positions it as a leading integrated water solutions provider in the basin.

Western Midstream Partners, LP (WES) has finalized its acquisition of Aris Water Solutions, Inc. (Aris), strengthening its position as a leading midstream, flow-assurance provider in the Delaware Basin. The acquisition enhances WES's water solutions capabilities and positions it as a leading integrated water solutions provider in the basin.

Oscar K. Brown, President and Chief Executive Officer of WES, expressed satisfaction with the completion of the acquisition, stating, "We are thrilled to welcome the Aris employees to the WES team, and we look forward to growing the combined entity and becoming the leading integrated water solutions provider in the basin. Together, WES and Aris create a stronger, more agile enterprise, well positioned to meet the challenges facing our producer customers in Texas and New Mexico with respect to produced-water gathering, recycling, transportation, disposal, and beneficial reuse" in a MarketScreener article.

In accordance with the merger agreement, each issued and outstanding share of Class A common stock of Aris, along with each unit of Aris Water Holdings, LLC and corresponding share of Class B common stock, was converted into consideration from WES. The consideration included 0.625 common units, $25.00 in cash, or a combination of 0.450 common units and $7.00 in cash. The final election results indicate that holders of 14,385,652 shares and units elected to receive the common unit election consideration, while holders of 33,801,151 shares and units chose the cash election consideration and approximately 11,017,951 shares and units elected the mixed election consideration.

The total consideration to be paid in cash is approximately $415.0 million, and the total consideration to be paid in equity is approximately 26.6 million common units. This acquisition will help WES expand its services, improve operational efficiency, and better serve its customers in the Delaware Basin.

WES is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged 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. A substantial majority of WES's cash flows are protected from direct exposure to commodity price volatility through fee-based contracts.

For more information about WES, please visit Western Midstream's website.