30 unchanged sentences
For example, on April 29, 2020, we received notice that Sanchez has elected to reject a number of midstream and downstream agreements with commercial counterparties, including Sanchez’s Springfield gathering agreements and agreements obligating Sanchez to deliver the gas volumes gathered by the Springfield system to our Brasada processing plant.
−Removed: As a result of such contract breaches or bankruptcy events, our earnings, cash flows from operations, and ability to make cash distributions to our unitholders could be materially and adversely impacted.
+Added: As a result of such contract breaches or bankruptcy events our Eagleford assets could be impaired and our earnings, cash flows from operations, and ability to make cash distributions to our unitholders could be materially and adversely impacted.
• Credit-rating downgrades negatively impact our cost of and ability to access capital.
6 unchanged sentences
Credit-rating downgrades also could trigger obligations to provide financial assurance of our performance under certain contractual arrangements.
−Removed: At June 30, 2020, there were $5.0 million in letters of credit or cash-provided assurance of our performance outstanding under contractual arrangements with credit-risk-related contingent features.
+Added: At September 30, 2020, there were $5.0 million in letters of credit or cash-provided assurance of our performance outstanding under contractual arrangements with credit-risk-related contingent features.
• Restrictions in the RCF may limit our ability to access capital.
6 unchanged sentences
Commodity-price declines may require us to write down the value of our midstream properties if the estimated future cash flows from these properties fall below their respective net book values.
−Removed: For example, during the six months ended June 30, 2020 , we recognized long-lived asset impairments of $165.9 million (see Note 8—Property, Plant, and Equipment in the Notes to Consolidated Financial Statements under Part I, Item 1 of this Form 10-Q ).
+Added: For example, during the nine months ended September 30, 2020 , we recognized long-lived asset and other impairments of $200.6 million (see Note 8—Property, Plant, and Equipment in the Notes to Consolidated Financial Statements under Part I, Item 1 of this Form 10-Q ).
Further, during the first quarter of 2020, we performed an interim goodwill impairment test that resulted in us recognizing a $441.0 million goodwill impairment for our gathering and processing reporting unit.
3 unchanged sentences
On April 20, 2020, we announced a cash distribution of $0.31100 per unit for the first quarter of 2020, which represents a 50% reduction to the prior-quarter distribution, and reductions to estimated 2020 capital and operating expenditures.
−Removed: On July 16, 2020, we announced that our per-unit distribution for the second quarter of 2020 is unchanged from the first-quarter 2020 $0.31100 per-unit distribution.
−Removed: On August 10, 2020, we announced a further downward revision to our estimated full-year 2020 capital expenditures.
+Added: Our second-quarter and announced third-quarter distributions have remained at $0.31100 per unit.
+Added: On August 10, 2020, we also announced a further downward revision to our estimated full-year 2020 capital expenditures.
These cash-preservation measures are intended to enhance our financial strength for the duration of the COVID-19 macroeconomic disruption and the weakened commodity-price environment;
40 unchanged sentences
Number Description
−Removed: 17 Form of 4.750% Senior Notes due 2028 (incorporated by reference to Exhibit 4.2, which is included as Exhibit A-1 to Exhibit 4.1, to Western Gas Partners, LP’s Current Report on Form 8-K file on August 9, 2018, File No.
−Removed: 18 Form of 5.500% Senior Notes due 2048 (incorporated by reference to Exhibit 4.3, which is included as Exhibit A-2 to Exhibit 4.1, to Western Gas Partners, LP’s Current Report on Form 8-K file on August 9, 2018, File No.
+Added: 17 Form of 4.750% Senior Notes due 2028 (incorporated by reference to Exhibit 4.2, which is included as Exhibit A-1 to Exhibit 4.1, to Western Gas Partners, LP’s Current Report on Form 8-K file d on August 9, 2018, File No.
+Added: 18 Form of 5.500% Senior Notes due 2048 (incorporated by reference to Exhibit 4.3, which is included as Exhibit A-2 to Exhibit 4.1, to Western Gas Partners, LP’s Current Report on Form 8-K file d on August 9, 2018, File No.
19 Eleventh Supplemental Indenture, dated as of January 13, 2020, by and between Western Midstream Operating, LP, as Issuer, and Wells Fargo Bank, National Association, as Trustee (incorporated by reference to Exhibit 4.1 to Western Midstream Operating, LP’s Current Report on Form 8-K filed on January 13, 2020, File No.
3 unchanged sentences
23 Form of 5.250% Senior Notes due 2050 (incorporated by reference to Exhibit 4.5, which is included as Exhibit A-4 to Exhibit 4.1 to Western Midstream Operating, LP’s Current Report on Form 8-K filed on January 13, 2020, File No.
−Removed: 1 Certification of Chief Executive Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Partners, LP.
−Removed: 2 Certification of Chief Financial Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Partners, LP.
−Removed: 3 Certification of Chief Executive Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Operating, LP.
−Removed: 4 Certification of Certification of Chief Financial Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Operating, LP.
+Added: 1 Unit Redemption Agreement by and between Western Midstream Partners, LP and Anadarko Petroleum Corporation, dated as of September 11, 2020 (incorporated by reference to Exhibit 10.1 to Western Midstream Partners, LP’s Current Report on Form 8-K filed on September 16, 2020, File No.
+Added: 1 Certification of Chief Executive Officer and Chief Financial Officer , pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Partners, LP.
+Added: 2 Certification of Chief Executive Officer and Chief Financial Officer , pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Western Midstream Operating, LP.
1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C.
12 unchanged sentences
WESTERN MIDSTREAM PARTNERS, LP
−Removed: August 10, 2020
+Added: November 9, 2020
/s/ Michael P.
−Removed: President and Chief Executive Officer
−Removed: Western Midstream Holdings, LLC
−Removed: (as general partner of Western Midstream Partners, LP)
−Removed: August 10, 2020
−Removed: /s/ Michael C.
−Removed: Senior Vice President and Chief Financial Officer
+Added: President, Chief Executive Officer and Chief Financial Officer
Western Midstream Holdings, LLC
1 unchanged sentence
WESTERN MIDSTREAM OPERATING, LP
−Removed: August 10, 2020
+Added: November 9, 2020
/s/ Michael P.
−Removed: President and Chief Executive Officer
−Removed: Western Midstream Operating GP, LLC
−Removed: (as general partner of Western Midstream Operating, LP)
−Removed: August 10, 2020
−Removed: /s/ Michael C.
−Removed: Senior Vice President and Chief Financial Officer
+Added: President, Chief Executive Officer and Chief Financial Officer
Western Midstream Operating GP, LLC
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.