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CORRECT: Williams 1Q Profit Rises 32%; Williams Partners 1Q Earnings Up 13%

("Williams 1Q Profit Rises 32%; Williams Partners 1Q Earnings Up 13%," published at 4:43 p.m. incorrectly attributed Williams Partners revenue to Williams in the fourth paragraph. The correct version follows.) DOW JONES NEWSWIRES Williams Cos.'s (WMB) first-quarter earnings rose 32%, mostly on gains related to the sale of former assets in Venezuela, while midstream and interstate gas-pipeline asset-holder Williams Partners LP's (WPZ) first-quarter profit increased 13%. However, Williams Partners common units were down 2.8% at $54.84 in after-hours trading as earnings missed expectations. Williams shares were down 2 cents to $32.94 in after-hours trading. 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 last month 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. Williams reported a profit of $423 million, or 70 cents a share, up from $321 million, or 54 cents a share, a year earlier. Excluding the asset-sale gains and other items, earnings from continuing operations were up at 39 cents from 28 cents. Revenue was up 8% at $2.02 billion. Analysts polled by Thomson Reuters most recently projected earnings of 36 cents on revenue of $1.95 billion. Williams Partners reported a profit of $348 million, or 85 cents a unit, up from $307 million, or 81 cents a unit, a year earlier. Revenue increased 6.7% to $1.69 billion. Analysts expected earnings of 90 cents. The company said the growth was mostly due to improved fee-based revenue at its midstream and gas pipeline businesses as well as stronger natural-gas liquids margins. Williams last year opted against an initial public offering of its exploration and production business, instead opting for a spinoff of a public company, named WPX Energy Inc. (WPX), which was completed early this year. WPX plans to report its first-quarter financial results May 3. -By Tess Stynes, Dow Jones Newswires; 212-416-2481;

Stock News for Williams Partners (WPZ)
10/05/201506:30:00Columbia Pipeline Group Announces Williams Partners Affiliate...
09/29/201506:04:04Amended Statement of Beneficial Ownership (sc 13d/a)
09/28/201517:30:51Current Report Filing (8-k)
09/28/201513:23:00WILLIAMS PARTNERS L.P. SHAREHOLDER ALERT: Rigrodsky & Long, P.A...
09/28/201508:30:00Energy Transfer and Williams Cos. to Merge in $32.6 Billion Deal
09/28/201508:12:00Williams to Be Acquired by Energy Transfer in $32.6 Billion Deal
09/28/201507:04:00Williams Partners Announces Termination of its Merger Agreement...
09/28/201507:00:00Energy Transfer Equity to Combine with Williams
09/08/201507:00:00Williams & Chesapeake Energy Execute Expansion of Gas Gathering...
09/01/201516:05:00Williams’ Transco Completes Virginia Southside Expansion
08/06/201518:24:07Statement of Changes in Beneficial Ownership (4)
08/03/201509:45:00Equities Updates on Oil and Gas Pipelines - Energy Transfer Equity...
07/30/201508:44:43Quarterly Report (10-q)
07/29/201517:25:21Current Report Filing (8-k)
07/29/201516:15:00Williams Partners Second-Quarter 2015 Financial Results
07/20/201518:34:00Williams Partners Announces Quarterly Cash Distribution
07/14/201518:03:00Williams, Williams Partners to Report Second-Quarter Financial...
07/10/201516:15:04Williams Companies Could Soon Be Facing a Hostile Takeover, and...
07/08/201516:30:00Williams’ Transco Seeks FERC Approval for Pipeline Expansion t...
07/02/201514:25:25Current Report Filing (8-k)

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