Western Gas Equity Partners, LP announced that its board of directors has declared a prorated cash distribution of $0.03587 per unit for the fourth quarter of 2012. The distribution is the first declared by the partnership and corresponds to a quarterly distribution of $0.165 per unit, or $0.66 per unit on an annualized basis. The initial distribution was prorated for the 20-day period from the date of the closing of the partnership's initial public offering on December 12, 2012, through the end of the quarter, pursuant to the terms of the partnership agreement.

The distribution is payable on February 21, 2013, to unit holders of record at the close of business on February 1, 2013.