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Williams Partners To Buy Cabot Marcellus Shale Assets For $150 Million

DOW JONES NEWSWIRES Cabot Oil & Gas Corp. (COG) is selling some of its midstream shale assets in the Marcellus Shale in Pennsylvania to Williams Partners LP (WPZ) in a $150 million deal that includes a 25-year gathering agreement. Williams Partners is the holder of gas-transportation and gathering assets for Williams Cos. (WMB). The companies said the assets include 75 miles of pipelines and two compressor stations, the sale of which should close before the end of the year. Under the gathering agreement, Williams's field services company will construct miles of pipelines and trunk lines and build two new compressor stations. Williams will also connect all Cabot drilling program wells with specific gathering lines and move Cabot output to five interstate delivery points during the term of the agreement. Williams Partners Senior Vice President Alan Armstrong said the additional expansion in the Marcellus Shale was ideal growth for the company. Cabot's third-quarter profit sank 90% on lower natural-gas prices, reduced oil production and one-time items. It has seen results decline in recent quarters. Williams Partners's third-quarter profit fell 19% on higher interest costs related to acquisitions from Williams Cos. None of the companies' shares were active after the news. Cabot stock closed up 3.2% at $34.42 and Williams Partners shares rose 0.7% to $45.81. The former's shares have struggled this year, falling 21%, while the latter's stock has climbed more than the broader market with a 49% increase. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Williams Partners (WPZ)
DateTimeHeadline
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05/27/201506:04:02High-Yield Stocks: 4 Important Facts That Will Effect Williams...
05/22/201507:03:02Williams Companies' $13.8 Billion Kinder Style Merger: 3 Things...
05/19/201515:42:00Williams Partners LP Stockholders Encouraged to Contact Securities...
05/18/201509:11:00Law Offices of Marc S. Henzel Announces Securities Class Action...
05/18/201507:51:27Current Report Filing (8-k)
05/16/201516:00:033 Safe Investments in Natural Gas
05/16/201511:00:20Here's Why These 3 Energy Stocks Moved 20% This Week
05/15/201516:44:48Additional Proxy Soliciting Materials (definitive) (defa14a)
05/15/201510:36:24Perpetual Petroleum: How Buyouts Can Be the Way Out
05/15/201508:00:00Williams Rockaway Delivery Lateral and Northeast Connector Pipeline...
05/14/201513:37:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders...
05/14/201512:20:00WILLIAMS PARTNERS L.P. SHAREHOLDER ALERT: Former SEC Attorney...
05/13/201517:26:15Filing of Certain Prospectuses and Communications in Connection...
05/13/201517:22:24Filing of Certain Prospectuses and Communications in Connection...
05/13/201516:41:05MARKET SNAPSHOT: U.S. Stocks End Flat After Retail Sales Disappoint
05/13/201516:13:00Harwood Feffer LLP Announces Investigation of Williams Partners...
05/13/201515:25:00Robbins Arroyo LLP: Acquisition of Williams Partners L.P. (WPZ...
05/13/201515:24:00WILLIAMS PARTNERS L.P. SHAREHOLDER ALERT: Rigrodsky & Long, P.A...
05/13/201515:22:36U.S. Stocks Trade Little Changed

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