Western Midstream (NYSE: WES) operates vital energy midstream assets that support its primary shareholder, Occidental Petroleum (NYSE: OXY), and other oil and gas companies, generating stable cash flow for an 8.8%-yielding cash distribution. Recent renegotiations of natural gas gathering and processing contracts, along with a new agreement with ConocoPhillips (NYSE: COP), will bolster production growth for these upstream companies while ensuring the sustainability of the MLP’s significant payout.
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