WORKING CAPITAL LOAN AGREEMENT

Exhibit 10.2

Execution Version

WORKING CAPITAL LOAN AGREEMENT

This WORKING CAPITAL LOAN AGREEMENT (this “Agreement”) is made as of November 1, 2012 (the “Effective Date”), between Anadarko Petroleum Corporation, a Delaware corporation, with principal offices at 1201 Lake Robbins Drive, The Woodlands, Texas 77380 (“Lender”), and Western Gas Equity Partners, LP, a Delaware limited partnership with principal offices at 1201 Lake Robbins Drive, The Woodlands, Texas 77380 (“Borrower”).

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Lender and Borrower agree as follows:

1. Loans. Subject to the terms and conditions of this Agreement, from time to time during the period from the Effective Date to November 1, 2017 (the “Maturity Date”), Lender agrees to make loans (“Loans”) to Borrower in an aggregate principal amount outstanding not to exceed $30,000,000.00 (the “Commitment Amount”) at any time. Within the foregoing limits, Borrower may borrow, repay and reborrow Loans in accordance with the terms and conditions hereof.

2. Repayment of the Loans. Borrower promises to pay the then outstanding principal balance of the Loans, together with interest accrued and outstanding thereon and any other sums due hereunder, on the Maturity Date or such earlier date upon which the maturity of the Loans may have been accelerated pursuant to Section 8. Notwithstanding the foregoing, Borrower shall repay the Loans such that no principal is outstanding for a period of at least fifteen consecutive days during the twelve month period commencing on the Effective Date and during the twelve month period commencing on each anniversary thereof.

3. Procedure for Borrowing. Borrower may borrow Loans on any Business Day (together with other capitalized terms not defined in the body of this Agreement, as defined in Exhibit A); provided that Borrower shall give written notice (each a “Borrowing Notice”) to Lender no later than the close of business on the day prior to the date of funding (each a “Borrowing Date”). Borrower shall give such notice in a form acceptable to Lender and each such Borrowing Notice shall specify (i) the amount of Loans to be borrowed, (ii) the requested Borrowing Date and (iii) the location and number of the Borrower’s account to which funds are to be disbursed. A Loan may only be made in US Dollars, and each Loan shall bear interest at the one-month Base Rate and be for an Interest Period of one month. The Lender will make such Loans available to the Borrower by promptly crediting such amounts to the account of the Borrower designated by the Borrower in the applicable Borrowing Notice.

4. Interest. Borrower shall pay interest on the unpaid principal amount of each Loan, which shall bears interest for each day during each Interest Period with respect thereto at the rate per annum equal to the Base Rate and such interest shall be payable in arrears on each Interest Payment Date. If all or a portion of the principal amount of any Loan, the interest payable on any Loan, or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such unpaid amount shall bear interest at a rate per annum equal to the Base Rate plus 2%, and such interest shall accrue from the date of such non-payment until such amount is paid in full (as well after as before judgment) and be payable from time to time on demand.

Interest shall be calculated on the basis of a 360-day year for the actual days elapsed. Any change in the interest rate resulting from a change in the LIBO Base Rate shall become effective as of the opening of business on the day on which such change in the applicable rate shall become effective.

Notwithstanding the foregoing provisions of this Section 4 or any other provision of this Agreement, interest on the Loans and other amounts due hereunder at any time shall be limited to the highest lawful rate that may be charged under the laws of the State of Texas at such time.

5. Increased Costs; Taxes; Prepayments of Loans. Borrower shall pay increased costs on the Loans and taxes in connection with the Loans, in each case in accordance with the procedures and terms of the Revolving Credit Agreement as if the loans were loans thereunder and Lender were a lender thereunder.

The Borrower may, at its option, as provided in this Section 5, at any time and from time to time prepay the Loans, in whole or in part, upon notice to the Lender specifying (i) the date and amount of prepayment and (ii) the respective amounts to be prepaid in respect of such Loans. The payment amount specified in such notice shall be

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due and payable on the date specified. All prepayments pursuant to this Section 5 shall include accrued interest on the amount prepaid to the date of prepayment.

6. Borrower’s Representations and Warranties. Borrower represents and warrants to Lender that:

7. Conditions of Lending. The obligation of Lender to make any Loan is subject to the conditions precedent that:

8. Events of Default. If one or more of the following events of default (each an “Event of Default”) shall occur and be continuing:

then and in each and every case Lender, by notice in writing to Borrower, may terminate the commitment of Lender hereunder and/or declare the unpaid balance of the Loans and any other amounts payable hereunder to be forthwith due and payable, and thereupon such balance shall become so due and payable without presentation, protest or further demand or notice of any kind, all of which are hereby expressly waived; provided that in the case of Section 8(b) and Section 8(c) above, the commitments of Lender hereunder shall automatically terminate and the Loans and any other amounts payable hereunder shall forthwith be due and payable.

9. Notices. All notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:

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if to the Borrower, to it at 1201 Lake Robbins Drive, The Woodlands, Texas 77380, Attention of the Chief Financial Officer, Telecopy No.  ###-###-####; messenger delivery to 1201 Lake Robbins Drive, The Woodlands, Texas 77380;

if to the Lender, to it at 1201 Lake Robbins Drive, The Woodlands, Texas 77380, Attention of the Assistant Treasurer, Telecopy No.  ###-###-####; messenger delivery to 1201 Lake Robbins Drive, The Woodlands, Texas 77380;

Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt.

The Lender or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications.

10. Waivers; Amendments. No failure or delay by Lender to exercise any right or power shall operate as a waiver thereof, nor shall any partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, preclude any other or further exercise of such right or power. No waiver of any right or power of Lender in this Agreement shall be effective unless given in writing signed by Lender. This Agreement may not be amended or modified except by a writing signed by the parties.

11. Expenses of Enforcement. Borrower shall reimburse Lender on demand for any fees or other expenses of Lender in connection with the enforcement of this Agreement and the collection of the Loans and any other amounts due Lender hereunder. Borrower agrees, to the fullest extent permitted by law, to indemnify and hold harmless Lender and each of its directors, officers, employees and agents (each an “Indemnified Party”) from and against any and all claims, damages, liabilities and expenses (including without limitation fees and disbursements of counsel) arising out of or in connection with any investigation, litigation or proceeding (whether or not any Indemnified Party is a party) arising out of, related to or in connection with this Agreement, the Loans or any transaction in which any proceeds of all or any part of the Loans made hereunder are applied, provided that such indemnity shall not, as to any Indemnified Party, be available to the extent that such losses, claims, damages, liabilities or related expenses resulted from the gross negligence, unlawful conduct or willful misconduct of such Indemnified Party.

12. Successors and Assigns. This Agreement shall be binding on and inure to the benefit of the parties and their respective successors and permitted assigns. Borrower may not assign this Agreement or delegate any of its duties hereunder without the express written consent of Lender.

14. Headings; Section References. Headings in this Agreement are for convenience only and shall not be used to interpret or construe its provisions. References to Sections in this Agreement are to Sections of this Agreement.

15. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

16. Entire Agreement. This instrument and any other loan documents executed in connection herewith constitute the entire Agreement between Lender and Borrower relating to the subject matter hereof and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties relating to the subject matter hereof.

17. No Third Party Beneficiaries. The agreement of Lender to make Loans to Borrower on the terms and conditions set forth in this Agreement is solely for the benefit of Borrower and no other person has any rights hereunder against Lender or with respect to the extension of credit contemplated hereby.

18. Special Exculpation. No claim may be made by Borrower or any other person against Lender, directors, officers, employees, attorneys or agents of any of them for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability arising out of or relating to this Agreement or any other financing document or the transactions contemplated hereby or thereby, or any act, omission or event occurring in connection therewith, and Borrower hereby waives, releases and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor.

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19. Waiver of Jury Trial. Each of Borrower and Lender hereby irrevocably waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

20. Severability. If any term or provision of this Agreement shall be determined to be illegal or unenforceable, all other terms and provisions of this Agreement shall nevertheless remain effective and shall be enforced to the fullest extent permitted by applicable law.

21. Further Assurances. The parties agree (a) to furnish upon request to each other such further information, (b) to execute and deliver to each other such other documents, and (c) to do such other acts and things, all as the other party may reasonably request for the purpose of carrying out the intent of this Agreement.

In witness whereof the parties have caused this Agreement to be executed by their proper officers on the day and year first above written.

[Signatures on following page]

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Signature Page to Working Capital Loan Agreement

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Exhibit A

As used in the Agreement to which this Exhibit A is attached, the following terms have the meanings indicated:

“Base Rate” means the one month LIBO Base Rate plus 1.50%.

“Bankruptcy Law” means Title 11 of the United States Code entitled “Bankruptcy”, as amended from time to time and any similar other applicable law or statute in any other jurisdiction as amended from time to time.

“Business Day” means any day that is not (i) a Saturday, Sunday or other day on which commercial banks in New York City, New York are authorized or required by law to remain closed; or (ii) a day on which banks are not open for dealings in United States dollar deposits in the London interbank market.

“Change of Control” means any of the following events: (i) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the General Partner’s assets to any other Person, unless immediately following such sale, lease, exchange or other transfer such assets are owned, directly or indirectly, by the General Partner; (ii) the dissolution or liquidation of the General Partner; (iii) the consolidation or merger of the General Partner with or into another Person pursuant to a transaction in which the outstanding membership interests of the General Partner are changed into or exchanged for cash, securities or other property, other than any such transaction where (a) the outstanding membership interests of the General Partner are changed into or exchanged for Voting Securities of the surviving entity or its parent and (b) the Lender continues to own, directly or indirectly, not less than a majority of the outstanding Voting Securities of the surviving entity or its parent immediately after such transaction; and (iv) other than Lender and its affiliates, a “person” or “group” (within the meaning of Sections 13(d) or 14(d)(2) of the Exchange Act) being or becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of more than 50% of all of the then outstanding membership interests of the General Partner, except in a merger or consolidation which would not constitute a Change of Control under clause (iii) above.

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

“General Partner” means Western Gas Equity Holdings, LLC, a Delaware limited liability company (including any permitted successors and assigns under the Agreement of Limited Partnership of the Borrower).

“Interest Payment Date” means as to any Loan, (i) the last day of the Interest Period with respect thereto or (ii) the Maturity Date, whichever comes first.

“Interest Period” — means, with respect to any Loan, the period commencing on the Borrowing Date with respect to such Loan and ending 1 month thereafter, and each one month period thereafter until such Loan has been repaid, provided, that, all of the foregoing provisions relating to Interest Periods are subject to the following:

(i) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day;

(ii) the Borrower may not request a Loan with an Interest Period that would extend beyond the Maturity Date; and

(iii) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month.

“LIBO Base Rate” means, with respect to each day during each Interest Period pertaining to a Loan, the rate per annum determined on the basis of the rate for deposits in United States Dollars for a period equal to such Interest Period commencing on the first day of such Interest Period appearing on the Reuters Screen LIBOR01 Page as of 11:00 A.M., London time, two business days prior to the beginning of such Interest Period. In the event that such rate does not appear on such page (or otherwise on such screen), the “LIBO Base Rate” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be selected by the Lender or, in the absence of such availability, by reference to the rate at which the Lender is offered United States Dollar deposits at or about 11:00 A.M., London time, two business days prior to the beginning of such Interest Period.

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“Person” means a corporation, partnership, joint venture, trust, limited liability company, unincorporated organization or any other entity.

“Revolving Credit Agreement” at any time means the revolving credit agreement with the largest aggregate commitment amount to which Lender is then a party as the borrower, as amended, or if there is no such revolving credit agreement then in effect, the last revolving credit agreement to which Lender was a party as the borrower. As of the Effective Date, the Revolving Credit Agreement is the revolving credit agreement dated as of September 2, 2010 among, inter alia, Anadarko Petroleum Corporation, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto, as amended.

“Voting Securities” means securities of any class of Person entitling the holders thereof to vote in the election of members of the board of directors or other similar governing body of the Person, or in the case of a limited partnership, a majority of the general partner interests in such limited partnership.

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