Western Gas Equity Partners, LP today announced that it has priced its initial public offering of 17,181,000 common units representing limited partner interests at $22.00 per common unit. Western Gas Equity Partners has granted the underwriters a 30-day option to purchase up to an additional 2,577,150 common units to cover over-allotments. The common units are expected to begin trading on the New York Stock Exchange under the symbol “WGP” on December 7, 2012. The offering is expected to settle and close on December 12, 2012, subject to customary closing conditions. Western Gas Equity Partners intends to use the net proceeds from the offering to purchase from Western Gas Partners, LP (“WES”) 7,575,462 common units representing limited partner interests in WES at a price of $46.00 per unit, and to make a corresponding capital contribution to WES, on behalf of Western Gas Holdings, LLC (“WES GP”), to allow WES GP to maintain its 2.0% general partner interest in WES. Any net proceeds from the exercise of the underwriters’ over-allotment option will be used to purchase from WES additional common units and a corresponding number of general partner units. Assuming no exercise of the underwriters’ over-allotment option, upon conclusion of the offering, Western Gas Equity Partners will own a 45.6% limited partner interest and all of the general partner interest in WES and all of WES’s incentive distribution rights, and Anadarko Petroleum Corporation (NYSE: APC) will own a 92.0% limited partner interest and all of the general partner interest in Western Gas Equity Partners. Western Gas Equity Partners is a Delaware master limited partnership formed to own three types of partnership interests in WES (NYSE:WES), a publicly traded limited partnership. WES is a growth-oriented Delaware master limited partnership organized by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners’ only cash-generating assets consist of partnership interests in WES.