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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
03/27/201505:00:00Williams Companies: Playing The Gas Infrastructure Super-Cycle
03/19/201520:28:48Marcellus Shale gas pipeline can cross holdout properties, judge...
03/19/201516:15:00Williams Seeks FERC Approval for Fully Subscribed Pipeline Expansion...
03/19/201516:09:00Williams Announces FERC Approval of Natural Gas Pipeline to Serve...
03/19/201503:58:00The Case Of Investing In Master Limited Partnerships
03/17/201508:00:00Williams CEO to Present at Scotia Howard Weil Energy Conference
03/16/201508:00:00Williamsâ Atlantic Sunrise Natural Gas Pipeline Project Expected t...
03/13/201515:45:00Williams Partners Announces Redemption of 5.875% Senior Notes...
03/09/201506:01:41Notice of Effectiveness (effect)
03/06/201510:36:00Current Report Filing (8-k)
03/06/201510:29:44Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/03/201516:27:08Current Report Filing (8-k)
03/03/201514:55:00Williams Partners Completes $3 Billion Offering of Senior Notes
03/02/201511:21:52Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
02/28/201510:00:47Dividend Champions For March 2015
02/27/201506:01:39Notice of Effectiveness (effect)
02/26/201517:04:00Williams Partners Prices $3 Billion of Senior Notes
02/26/201508:48:07Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
02/26/201504:51:26Williams Partners: A Midstream Natural Gas Powerhouse Emerges
02/25/201516:30:54Securities Registration Statement (simplified Form) (s-3)

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