Westlake Chemical Partners LP
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Jean-Marc Gilson
- Full Time Employees
- 2,169
- Sector
- Basic Materials
- Industry
- Chemicals
- Address
- 2801 Post Oak Boulevard Houston TX United States of America 77056
- IPO Date
- Jul 30, 2014
- CIK
- 0001604665
- Website
- wlkpartners.com
- Similar Companies
- Business
- Westlake Chemical Partners LP is a Houston-based limited partnership formed by Westlake Corporation to acquire, develop, and operate ethylene production facilities and related assets in the United States. The company owns a 22.8% interest in Westlake Chemical OpCo LP, whose assets include three ethylene production facilities located in Calvert City, Kentucky, and Lake Charles, Louisiana, as well as an ethylene pipeline. Westlake Chemical Partners primarily produces ethylene through the conversion of ethane and sells ethylene co-products such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen to third parties on spot or contract basis. The partnership benefits from a long-term Ethylene Sales Agreement with Westlake Corporation, securing 95% of OpCo’s ethylene production under a fee-based, take-or-pay structure that provides stable and predictable cash flows. Recent major company developments include the renewal of the Ethylene Sales Agreement with Westlake Corporation through December 31, 2027, preserving existing pricing formulas and sales volume protections, which supports the partnership’s distributable cash flow and has enabled 45 consecutive quarterly distributions since its 2014 initial public offering. In early 2025, Westlake Chemical Partners completed a planned turnaround at the Petro 1 ethylene unit, restoring production to nameplate capacity and maintaining operational stability. The company also strategically deferred a turnaround in 2024 to capture attractive third-party ethylene prices, improving distributable cash flow and coverage ratio for that year. Westlake Chemical Partners operates within the petrochemical industry segment, focusing on ethylene and related petrochemical production. It serves industrial markets requiring fundamental chemical building blocks, including those that utilize ethylene and associated co-products for downstream manufacturing. Founded in 1991 and headquartered in Houston, Texas, the partnership is closely integrated with Westlake Corporation, which is a leading international manufacturer of petrochemicals, polymers, and building products. The Partnership’s business model emphasizes asset development, acquisitions, and long-term sales agreements to ensure operational efficiency and cash flow predictability.
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