ADVFN - Advanced Financial Network.
HOME» NYSE » W » WMB Stock Price » WMB Stock News

Williams Share News

 Williams Cos (the) Stock Price
WMB Stock Price
 Williams Cos (the) Stock Chart
WMB Stock Chart
 Williams Cos (the) Stock News
WMB Stock News
 Williams Cos (the) Company Information
WMB Company Information
 Williams Cos (the) Stock Trades
WMB Stock Trades

Williams Partners to Buy Stake in Olefins Facility; Williams Lowers Guidance

By Saabira Chaudhuri Williams Partners L.P. (WPZ) and Williams Cos. (WMB) will pursue an agreement for Williams Partners to acquire Williams' 83.3% interest in the olefins-production facility in Geismar, La., in a deal that will bring more certainty to the energy company's cash flows. "Adding the Geismar olefins-production facilities to Williams Partners' portfolio would immediately reduce the partnership's exposure to the ethane market by nearly 70% and it would nearly eliminate it by 2014," Williams Partners Chief Executive, Alan Armstrong said. Separately, Williams lowered its earnings outlook for 2012 and 2013, mainly due to commodity prices. It now expects earnings $1.05 to $1.25 for 2012 and earnings of $1.20-$1.55 for 2013, down from its April view of between $1.20 to $1.60 for 2012, and between $1.35 and $1.75 for 2013. It also said it expects second quarter per-share earnings to be about 21 cents, down from 39 cents in the first quarter and 29 cents in the second quarter last year, noting that "an unexpectedly sharp decline in natural-gas-liquids margins" in May and June at Williams Partners was the cause. Analysts polled by Thomson Reuters were looking for 33 cents a share. Shares of Williams were down 4.5% to $29.90 in recent premarket trading, while shares of Williams Partners were down 2.2% to $53.99. Williams' stock is up 16% so far this year, while Williams Partner's stock is down 8% so far this year. Williams Partners noted that its cash flows are exposed to the market for ethane, which is projected to experience periods of volatility as demand infrastructure lags new supplies from shale-gas production. It said ethylene demand is expected to remain strong as ethylene is significantly less expensive than crude-oil based feedstock. The Geismar facility is a light-end natural-gas liquid cracker with volumes of 37,000 barrels per day of ethane and 3,000 barrels per day of propane and an annual production of 1.35 billion pounds of ethylene. Williams Partners said the facility's annual ethylene production capacity will grow by 600 million pounds to 1.95 billion pounds by late 2013 as a result of a $350 to $400 million expansion that is currently under way. Williams Partners will fund the transaction largely with the issuance of limited-partner units to Williams. Williams currently owns 68% of Williams Partners. Pipeline companies in the U.S. are undergoing a wave of acquisitions and expansion as they seek to adapt to the new geography of energy production brought about by shale production. Williams Partners in March unveiled a $2.5 billion deal to acquire Caiman Eastern Midstream LLC, which has midstream facilities in the Marcellus Shale, a major unconventional shale-energy field that underlies several Northeastern states. Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Williams (WMB)
DateTimeHeadline
07/30/201409:22:06William Partners Plans $150 Million Project in New Jersey
06/17/201409:24:06U.S. Hot Stocks: Hot Stocks to Watch
06/15/201418:16:34Williams Strikes Nearly $6 Billion Deal to Expand Shale Oil...
04/23/201419:36:51Opal, Wyo. Evacuated After Blast at Gas-Pipeline Hub -- Update
02/26/201417:10:34Williams Cos. to Sell Canadian Assets for $1.2 Billion
02/19/201418:25:52Williams Swings to Loss; Williams Partners Profit Falls 27%
02/14/201418:20:25Loeb's Third Point Took New Stakes in T-Mobile, Hertz, BlackBerry...
02/14/201416:25:03Corvex, Soroban Hire Moelis to Advise on Their Williams Cos...
11/15/201309:19:36Omega Advisors 3Q 13F: Largest Sales
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Largest Purchases
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
11/15/201308:58:09Highfields Capital Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:55:37Highbridge Capital Management 3Q 13F: Largest Eliminations

Williams and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad