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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
07/28/201616:30:00Williams Partners Announces FERC Approval of Transco Expansion...
07/26/201618:24:00Williams Partners Announces Quarterly Cash Distribution
07/20/201616:14:27Statement of Changes in Beneficial Ownership (4)
07/20/201616:12:42Statement of Changes in Beneficial Ownership (4)
07/20/201616:10:06Statement of Changes in Beneficial Ownership (4)
07/15/201616:24:00Williams Extends Deadline for Nominating Candidates to Stand...
07/15/201608:00:00Williams, Williams Partners to Report Second-Quarter Financial...
07/08/201608:00:00Williams Announces 2016 Annual Meeting Date
06/26/201620:40:00Williams Cos. Fights to Save Deal
05/27/201616:08:15Current Report Filing (8-k)
05/16/201616:15:00Constitution Pipeline Challenges Decision by New York State to...
05/16/201608:30:00Williams Partners Announces Open Season for Transco Northeast...
05/06/201610:21:43Statement of Changes in Beneficial Ownership (4)
05/05/201621:47:00DEADLINE TOMORROW: Khang & Khang LLP Announces The Filing Of...
05/05/201609:24:47Quarterly Report (10-q)
05/04/201617:47:23Current Report Filing (8-k)
05/04/201616:15:00Williams Partners Reports First Quarter 2016 Financial Results
05/04/201616:15:00Williams Reports First Quarter 2016 Financial Results
04/26/201621:15:00MAY 6 DEADLINE ALERT: Brower Piven Reminds Investors Who Have...
04/26/201617:00:00Williams Partners Announces Quarterly Cash Distribution

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