Western Gas Equity Partners, LP Announces Launch of Initial Public Offering

  Western Gas Equity Partners, LP Announces Launch of Initial Public Offering

Business Wire

HOUSTON -- December 03, 2012

Western Gas Equity Partners, LP today announced that it has commenced an
initial public offering of 15,000,000 common units representing limited
partner interests pursuant to a registration statement on Form S-1 previously
filed with the Securities and Exchange Commission (the “SEC”). Western Gas
Equity Partners expects to grant the underwriters a 30-day option to purchase
up to an additional 2,250,000 common units. The common units will be listed on
the New York Stock Exchange and traded under the symbol “WGP.”

Western Gas Equity Partners is a Delaware master limited partnership formed to
own three types of partnership interests in Western Gas Partners, LP (NYSE:
WES), a publicly traded limited partnership (“WES”). WES is a growth-oriented
Delaware master limited partnership organized by Anadarko Petroleum
Corporation (NYSE: APC) to own, operate, acquire and develop midstream energy
assets. Western Gas Equity Partners’ only cash-generating assets consist of
partnership interests in WES.

Barclays, Citigroup, Deutsche Bank Securities and Morgan Stanley are acting as
joint book-running managers for the offering. The offering will be made only
by means of a prospectus, copies of which may be obtained from:

Barclays                              Citigroup
c/o Broadridge Financial Solutions       c/o Broadridge Financial Solutions
1155 Long Island Ave.                    1155 Long Island Ave.
Edgewood, NY 11717                       Edgewood, NY 11717
barclaysprospectus@broadridge.com        batprospectusdept@citi.com
Toll-Free: (888) 603-5847                Toll-Free: (800) 831-9146
                                         
Deutsche Bank Securities                 Morgan Stanley
60 Wall Street                           Attention: Prospectus Department
New York, NY 10005-2836                  180 Varick Street, 2^nd Floor
Attention: Prospectus Group              New York, NY 10014
prospectus.CPDG@db.com                   prospectus@morganstanley.com
Toll-Free: (800) 503-4611                Toll-Free: (866) 718-1649
                                         

When available, an electronic copy of the prospectus may be obtained from the
SEC’s website at www.sec.gov.

A registration statement relating to these securities has been filed with the
SEC, but has not yet become effective. These securities may not be sold nor
may offers to buy be accepted prior to the time registration statement becomes
effective. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.

This news release contains forward-looking statements. Western Gas Equity
Partners and its general partner believe that their expectations are based on
reasonable assumptions. No assurance, however, can be given that such
expectations will prove to have been correct. A number of factors could cause
actual results to differ materially from the projections, anticipated results
or other expectations expressed in this news release, including Western Gas
Equity Partners' ability to successfully complete its initial public offering.
See the “Risk Factors” included in the registration statement, in WES’s Annual
Report on Form 10-K for the year ended December 31, 2011 and Quarterly Reports
on Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and
September 30, 2012 and in Western Gas Equity Partners’ and WES’s other public
filings and press releases. Except as required by law, Western Gas Equity
Partners undertakes no obligation to publicly update or revise any
forward-looking statements.

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Contact:

Western Gas Equity Partners, LP
Benjamin Fink, CFA, 832-636-6010
SVP, Chief Financial Officer & Treasurer
benjamin.fink@westerngas.com
 
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