Western Gas Partners Q3 Profit Rises, To Buy Nuevo Midstream For $1.5 Bln

(RTTNews) - Western Gas Partners, LP (WES) reported third-quarter limited partner's interest in net income of $71.6 million or $0.60 per share, up from $59.7 million or $0.53 per share last year.

Total revenues for the quarter were $326.5 million, up from $273.5 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.59 per share on revenues of $348.7 million for the quarter. Analysts' estimates typically exclude one-time items.

Western Gas Partners said it agreed to acquire Nuevo Midstream LLC, a Delaware Basin gas gatherer and processor, for $1.5 billion. The Partnership expects the acquisition will close in the fourth quarter of 2014, subject to regulatory approval and customary closing conditions.