Western Gas Partners Swings To Q4 Profit

(RTTNews) - Western Gas Partners LP (WES) Thursday said it agreed to buy a 20 percent stake in each of Texas Express Pipeline LLC and Texas Express Gathering LLC and a 33.33 percent interest in Front Range Pipeline LLC for $375 million from Anadarko.

Western Gas Partners reported fourth-quarter limited partners' interest in net income of $64.0 million or $0.56 per share, compared to loss of $26.6 million or $0.27 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.46 per share for the quarter. Analysts' estimate typically exclude one-time items.

Total revenues for the quarter rose to $290.6 million from $230.9 million last year. Analysts estimated revenues of $272.8 million for the quarter.