Williams and Access Midstream Partners today announced the closing of the merger between Williams Partners and Access Midstream Partners. As part of the completion of the merger, Access Midstream Partners changed its name to Williams Partners L.P. and its units will trade under the symbol “WPZ” beginning on 3 February 2015.
“The new Williams Partners generates additional strength in our business, more opportunities for our customers and increased value for our investors. We’re pleased to have reached this milestone as we strive to meet North America’s critical need for energy infrastructure.”
“As intended with this merger, we’ve created an industry-leading, large-scale MLP with best-in-class assets that connect natural gas and natural gas products with growing markets,” said Alan Armstrong, CEO of Williams Partners' general partner.
Williams’ acquisition of Access Midstream Partners and the subsequent merger with Williams Partners enhances Williams’ exposure to key production basins in North America. The merger combines the depth of Access Midstream’s expertise in the gathering and processing function with the breadth of Williams’ capabilities across the broader natural gas value chain. Williams Partners now features large-scale positions across three key components of the midstream sector, including:
- Natural Gas Pipelines – Transco, Northwest and Gulfstream represent the nation’s premier interstate pipeline network. Transco is the nation’s largest and fastest-growing pipeline system.
- Gathering and Processing – Large-scale positions in growing natural-gas supply areas in major shale and unconventional producing areas, including the Marcellus, Utica, Piceance, Four Corners, Wyoming, Eagle Ford, Haynesville, Barnett, Mid-continent and Niobrara. Additionally, the business includes oil and natural gas gathering services in the deepwater Gulf of Mexico.
- Natural Gas Liquids and Petrochemical Services – Unique downstream presence on the Gulf Coast and in western Canada provides differentiated long-term growth.
Williams Partners is based in Tulsa, Okla. with major offices in Oklahoma City, Houston, Pittsburgh, Salt Lake City and Calgary. Williams owns the general partner of and controlling interest in Williams Partners. Alan Armstrong and Donald Chappel serve the merged MLP as its general partner’s chief executive officer and chief financial officer, respectively.
Williams intends to provide updated financial guidance on or before 18 February 2015.
Image from Williams