Williams Partners Completes the Execution of New Agreements in Barnett Shale
November 03 2016 - 4:15PM
Business Wire
Williams Partners L.P. (NYSE: WPZ) today announced it has
completed the execution of a new gas gathering agreement with
Total’s U.S. affiliates (“Total”), the successor to Chesapeake
Energy’s (NYSE: CHK) properties in the Barnett Shale.
The Barnett agreement with Total follows a previously announced
agreement with Chesapeake Energy that provides accelerated upfront
cash payments to Williams Partners totaling $754 million ($334
million from Chesapeake and $420 million from Total), as well as
new terms and conditions under which Williams Partners will provide
gas gathering services to Total through 2029.
The closing of the new agreement with Total also marks the
official termination of Williams Partners’ Barnett Shale gas
gathering agreement with Chesapeake Energy. It is expected that
Williams Partners’ existing gathering agreement, including MVC
obligations with Total, will remain unchanged through mid-2019.
About Williams Partners
Williams Partners (NYSE: WPZ) is an industry-leading, large-cap
natural gas infrastructure master limited partnership with a strong
growth outlook and major positions in key U.S. supply basins.
Williams Partners has operations across the natural gas value chain
from gathering, processing and interstate transportation of natural
gas and natural gas liquids to petchem production of ethylene,
propylene and other olefins. Williams Partners owns and operates
more than 33,000 miles of pipelines system wide – including the
nation’s largest volume and fastest growing pipeline – providing
natural gas for clean-power generation, heating and industrial use.
Williams Partners’ operations touch approximately 30 percent of
U.S. natural gas. Tulsa, Okla.-based Williams (NYSE: WMB), a
premier provider of large-scale U.S. natural gas infrastructure,
owns 60 percent of Williams Partners, including all of the 2
percent general-partner interest. www.williams.com
Portions of this document may constitute “forward-looking
statements” as defined by federal law. Although the partnership
believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Additional information about issues that could lead to
material changes in performance is contained in the partnership’s
annual and quarterly reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20161103006400/en/
Williams Partners L.P.Media Contact:Sara Delgado,
918-573-2713orInvestor Contacts:John Porter,
918-573-0797orBrett Krieg, 918-573-4614
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