4 unchanged sentences
Under keep-whole agreements, we keep 100% of the NGLs produced and the processed natural gas, or value of the natural gas, is returned to the producer, and because some of the gas is used and removed during processing, we compensate the producer for the amount of gas used and removed in processing by supplying additional gas or by paying an agreed-upon value for the gas used.
−Removed: For the six months ended June 30, 2020, 93% of our wellhead natural-gas volume (excluding equity investments) and 100% of our crude-oil and produced-water throughput (excluding equity investments) were serviced under fee-based contracts.
+Added: For the nine months ended September 30, 2020, 93% of our wellhead natural-gas volume (excluding equity investments) and 100% of our crude-oil and produced-water throughput (excluding equity investments) were serviced under fee-based contracts.
A 10% increase or decrease in commodity prices would not have a material impact on our operating income (loss), financial condition, or cash flows for the next twelve months, excluding the effect of the below-described imbalances.
2 unchanged sentences
Other natural-gas volumes owed to or by us are valued at our weighted-average cost of natural gas as of the balance sheet dates and are settled in-kind.
−Removed: Our exposure to the impact of changes in commodity prices on outstanding imbalances depends on the timing of settlement of the imbalances.
+Added: Our exposure to the impact of changes in commodity prices on outstanding imbalances depends on the settlement timing of the imbalances.
See Outlook under Part I, Item 2 and Risk Factors under Part II, Item 1A of this Form 10-Q.
2 unchanged sentences
Any future increases in the federal funds rate likely will result in an increase in short-term financing costs.
−Removed: As of June 30, 2020, we had (i) $75.0 million in outstanding borrowings under the RCF that bear interest at a rate based on LIBOR or an alternative base rate at WES Operating’s option, and (ii) the Floating-Rate Senior Notes that bear interest at a rate based on LIBOR.
−Removed: While a 10% change in the applicable benchmark interest rate would not materially impact interest expense on our outstanding borrowings, it would impact the fair value of the senior notes at June 30, 2020.
+Added: As of September 30, 2020, we had (i) no outstanding borrowings under the RCF that bear interest at a rate based on LIBOR or an alternative base rate at WES Operating’s option, and (ii) the Floating-Rate Senior Notes that bear interest at a rate based on LIBOR.
+Added: While a 10% change in the applicable benchmark interest rate would not materially impact interest expense on our outstanding borrowings, it would impact the fair value of the senior notes at September 30, 2020.
See Outlook under Part I, Item 2 and Risk Factors under Part II, Item 1A of this Form 10-Q.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.