By Michael Dabaie

 

Williams Cos. shares were up 4.2% to $19.39 in late morning trading.

The energy infrastructure company earlier said it is in an agreement with Chevron Corp. and Total E&P USA Inc. to provide offshore natural gas transportation services to the Anchor development, 140 miles off the coast of Louisiana in the Green Canyon area of the Gulf of Mexico.

Williams said Chevron plans to drill multiple wells and construct a floating production platform capable of handling the new rich natural gas and oil production from the Anchor development.

Williams will transport Anchor's natural gas production to the Discovery system, of which Williams is 60% owner and operator. The new rich natural gas will be transported to Discovery's processing plant in Larose, La., and the natural gas liquids will be fractionated and marketed at Discovery's Paradis plant in Louisiana.

Anchor is expected to come online in the first half of 2024, Williams said.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

May 07, 2020 11:35 ET (15:35 GMT)

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